Southwest Securities International Securities Limited

Southwest Securities (HK) Brokerage Ltd v Michael Ng Kwok Wing & another (CACV 250/2020)
HK Court of Appeal, 20-May-2021
Having filed an appeal, Mr Ng failed to appear and his case was dismissed. The plaintiff's cross-appeal, for a judgment debt rather than damages, succeeds, and Mr Ng owes $163.5m plus 30% p.a. since 16-Apr-2019 under the terms of the facility agreement in event of default.
Celebrate (8212) update
Company announcement, 2-Jul-2020
After Citizens (owned by Oshidori, 0622) on 12-May applied for winding-up in HCCW 95/2020, and after Manivest (appointed by Southwest, 0812) on 13-May applied for interim receivers in HCMP 469/2020, Citizens on 18-May applied to intervene in that case, to be heard on 18-Jun, but on 15-Jun Manivest applied to join HCCW 95/2020 and appoint their choice of liquidators, RSM, so on 18-Jun they withdrew HCMP 469/2020. The liquidation hearing is set for 9-Jul. Meanwhile on 19-Jun, Southwest wrote to the judge regarding the withdrawal, making what Celebrate calls "completely unfounded allegations against the Board… and other parties" and enclosing a chart. In response, the Board now adjourns the EGM requisitioned by Manivest (who have a 64.66% shareholding) to replace the Board which was scheduled for 3-Jul.
Southwest Securities (HK) Brokerage Ltd v Michael Ng Kwok Wing & others (HCA 1200/2019)
HK Court of First Instance, 11-Jun-2020
The court awards summary judgment to Southwest Securities against Nieumarkt Investments Ltd and Michael Ng Kwok Wing, who belatedly claimed a hidden collateral agreement that he was just a nominee on behalf of Southwest to takeover Celebrate (8212), which the judge calls "not reasonably capable of belief". Curiously, the 3rd defendant, Alan Lee Yuk Lun, is not involved in this application.
SFC fines Southwest Securities (HK) Brokerage HK$5m for breaches of anti-money laundering requirements
SFC, 18-May-2020
This is a subsidiary of Southwest Securities (0812).
Celebrate (8212): receivers of controlling shareholding seek interim receivers or transaction limit on Celebrate's assets
Company announcement, 15-May-2020
The summons was filed on 13-May-2020, the day after Citizens Money Lending Corp Ltd (owned by Oshidori, 0622) filed a petition seeking a winding-up. The receivers were appointed by Southwest Securities (0812) which provided a loan for the 2017 takeover by Michael Ng Kwok Wing (via Nieumarkt Investments Ltd), secured on the controlling shareholding.
Receivers of controlling shareholder petition court to appoint receiver over assets of Celebrate (8212)
Company announcement, 14-May-2020
The receivers, Horace Ho Man Kit and Peter Mok Kwan Leong of Manivest Asia Ltd, were appointed by Southwest Securities (0812), which is trying to recover a loan secured against the controlling shareholding in Celebrate. The petition was filed on 5-May-2020.
Southwest Securities (0812) receivers of 64.66% of Celebrate (8212) resigned, replaced
Company announcement, 7-Apr-2020
Southwest Securities (0812) appoints receivers of 64.66% of Celebrate (8212)
Company announcement, 3-Feb-2020
Although the appointment was purportedly made on 26-Nov-2019, "enforcement" was made on 24-Dec-2019 and a disclosure of interests was filed on 27-Dec-2019 and acknowledged by Celebrate on 30-Dec-2019. Proceedings against the borrower, Nieumarkt Investments Ltd, and guarantors Michael Ng Kwok Wing and Anson Li Chung Ngai are ongoing.
Celebrate (8212): controlling shareholder Michael Ng Kwok Wing "brutally attacked"
Company announcement, 18-Dec-2019
Southwest Securities (812) proceedings re defaulted HK$158.4m loan against Michael Ng Kwok Wing & Alan Lee Yuk Lun
Company announcement, 8-Jul-2019
The loan to Nieumarkt Investments Ltd is guaranteed by the two individuals and secured on its 64.66% shareholding in Celebrate (8212). The loan was used to finance the takeover of Celebrate in 2017.
SWSI (0812) lends HK$300m to Poon Sum secured on 73.83% of Addchance (3344)
Company announcement, 31-Mar-2017
SWSI (0812) lends HK$200m to Champion Tech (0092) secured on 64% of Kantone (1059) at 16% p.a.
Company announcement, 7-Mar-2017
SFC publicly criticises Southwest Securities International Investment Ltd, Li Zhi Tao and Dong Jiang Wen for breach of the Takeovers Code
SFC, 14-Dec-2016
This relates to purchases of shares in SWSI (0812) during the "national team" intervention in Jul-2015.
Concentration warning in Tanrich (812)
SFC, 26-May-2011
This follows a complaint made to the SFC by Webb-site on 4-May-2011.
SFC reprimands and fines Tanrich Futures Ltd, bans Mr Yip Man Fan for 9 months
SFC, 2-Jun-2009
Yes, but he's still the Chairman and controlling shareholder of the brokerage's listed owner, Tanrich Financial Holdings Ltd.
SFC prohibits Ben Chan Ka Cheuk from re-entering industry for 4 months for cold calling
SFC, 3-Nov-2008
Comment: this is the 15th employee of Tanrich to be disciplined since 2004. Surely at some point the SFC should revoke the firm's license?
SFC suspends Ms Chow Yin Shan for 8 months
SFC, 27-Jun-2007
SFC suspends Mr Bowie So Chi Kit for 6 months
SFC, 2-May-2007
SFC suspends Ms Leung Wing for 9 weeks
SFC, 27-Apr-2007
SFC bans Mr Sze Fan Hoi for 7 months
SFC, 26-Apr-2007
Ms Leung Wing v SFC
SFAT, 25-Apr-2007
SFC suspends Mr Calvin Ting Chun Hin for 2 months
SFC, 22-Mar-2007
SFC suspends Ms Ip Pui Lan of Tanrich Futures Ltd for 4 months
SFC, 22-Nov-2006
SFC bans Mr Leung Chin Pang for 6 months for cold calling and failing to give reasonable investment advice
SFC, 19-Jul-2006
SFC suspends Mr Keung Man Bun for 6 months
SFC, 6-Jun-2006
SFC bans Mr Chau Sik Ki for 4 months for cold calling
SFC, 26-Apr-2006
SFC suspends Agnes Mak Wing Shun for 4 months for failures to comply with SFO and to give reasonable investment advice
SFC, 31-Mar-2006
SFC bans Mr Wong Yu Kit for 6 months
SFC, 13-Mar-2006
SFC bans Mr Lam Wing Chit for 3 months
SFC, 1-Mar-2006
SFC prosecutes Mr Chau Sik Ki for cold calling
SFC, 24-Jan-2006
SFC bans Mr Chow Wai Ho for 3 months for cold calling
SFC, 11-Jan-2006
SFC prosecutes Ms Leung Wing for cold calling
SFC, 1-Dec-2005
SFC prosecutes Mr Lam Wing Chit for cold calling
SFC, 17-Nov-2005
SFC prosecutes Agnes Mak Wing Shun for cold calling
SFC, 10-Nov-2005
SFC prosecutes Mr Chow Wai Ho for cold calling
SFC, 29-Sep-2005
SFC suspends Mr Shiu Yau Wah for 4 months for cold calling
SFC, 15-Dec-2004
SFC suspends Mr Dickson Kam Chun Wah, for 3 months for account opening failings
SFC, 15-Dec-2004
SFC prosecutes Miss Mean Lam Suk Kuen and Mr Lau Chun Kwok for cold calling
SFC, 30-Sep-2004
Cold calling is illegal
SFC, 27-Sep-2004
SFC reprimands Tanrich Futures Ltd for internal control failures
SFC, 21-Apr-2004
SFC prosecutes Mr Shiu Yau Wah for cold calling
SFC, 21-Apr-2004
SFC reprimands Ms Elaine Lau Yim Ling for impropriety
SFC, 21-Apr-2004
Tanrich and the Pay Loophole
We tell you how the Chairman and controlling shareholder of a listed futures firm received a 381% pay rise just 8 months after the IPO. It's a classic exploitation of the pay loophole in the Listing Rules, and there is nothing you can do about it until the rules are amended to allow minority shareholders' approval of excessive pay increases. (17-Mar-2004)
Tanrich Futures Ltd v Stanley Lam Chi Bin
HK Court of First Instance, 13-Sep-2001
Pan Guoqiang prosecuted for misleading SFC in application to join Tanrich Futures Ltd
SFC, 12-Nov-1999

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