Luxey Online Solutions Limited 薈萃網上媒體有限公司

HKICPA fines Leslie Cheng Chi Pang and his firm over Luxey (8041) 2009 audit
HKICPA, 8-Jan-2016
Luxey was the first and only HK-listed audit client of Leslie Cheng & Co. The case was referred by the Financial Reporting Council which has yet to publish the report of its Audit Investigation Board dated 8-Aug-2013. Mr Cheng is an INED or NED of 6 listed companies. He was the Engagement Quality Control Reviewer in this audit. The engagement partner, Wong Wing Hong, was convicted in 2012 of defrauding Toys R Us and on 5-Dec-2013, HKICPA removed him for 6 months for that.
Raking muck, Part 5
In the penultimate episode, we look at a transaction in progress by Railsmedia (0745) and how it connects with CPEC (8041), COMG (0254) and 3 shells. We also introduce a 10th listed company to the story, Zhi Cheng (8130) which has such a track record of value destruction that it has consolidated its shares by 200,000 to 1 since 2007. (11-Mar-2012)
Raking muck, Part 2
Continuing our series, we look at a set of over-priced acquisitions and questionable transactions by China Post e-Commerce and others, building a matrix which demonstrates the close connections between the persons involved. We call on the SFC to investigate. (27-Feb-2012)
Zhi Cheng (8130) buys Unique Smart Group Ltd from Mr Wong Sin Lai for HK$33m
Company announcement, 4-Apr-2011
China Post E-Commerce (8041) buys 40% of iKanTV Ltd from Win Today Ltd
Company announcement, 25-Sep-2009
For HK$77m in shares @$0.55. The announcement fails to disclose who owns the vendor, but subsequent shareholding filings show that it was 100% owned by Vicky Yu Wai Yin. The target is a loss-making startup with net liabilities of $4.26m and prior to this was 51% owned by China Outdoor Media (0254), which is in the process of selling 4% to the Company.
China Post E-Commerce (8041) terminates one of yesterday's deals
Company announcement, 28-Aug-2009
The deal was terminated because under the Listing Rules the company cannot issue shares within 30 days of a repurchase. The deal was resurrected on 25-Sep-2009.
China Post E-Commerce (8041) buys 4% of iKanTV Ltd from China Outdoor Media (0254) for $9.2mChina Outdoor Media announcement
Company announcement, 27-Aug-2009
The controlling shareholder of the buyer is also a 24.23% shareholder and CEO of the vendor, but it is not a connected transaction for the buyer under the Listing Rules because he owns less than 30% of the vendor so it is not his "associate". It is an exempt connected transaction for the vendor because it is less than HK$10m. Another deal in the same announcement, to buy 40% from another vendor, was terminated the next day.
Intcera High Tech (8041) buys 9% of iKanTV Ltd from Mr Kwok Ming Fai for HK$39.84m
Company announcement, 6-Apr-2009
Satisfied by 830m shares @$0.048. The loss-making startup target has net liabilities of $1.3m.
iKanTV Ltd, subsidiary of China Outdoor Media (0254) agrees exclusive advertising agency rights with Info-Source Media Ltd
Company announcement, 13-Jan-2009
This relates to advertising on LCD displays in the Guangdong Postal Bureau outlets.

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