SUNCORP TECHNOLOGIES LIMITED 新確科技有限公司
AMCO (0630): INED Mr Chan Tsz Keung under investigation
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
SFC and ICAC joint operation against sophisticated ramp-and-dump syndicate
| ICAC announcement
SFC, 10-Nov-2022
SFC, 10-Nov-2022
Ninotre Investment Ltd & Xiao Qingmin v L & A (8195)
HK Court of First Instance, 14-Nov-2018
The plaintiffs win an order for discovery in relation to L&A's purchase of 47.63% of Red 5 Studios Inc. on 28-Apr-2016, The first plaintiff is a 100% subsidiary of Unity (0913). The 2nd was an ED of Suncorp (1063) until 23-Nov-2015. Unity and Suncorp both featured in our "Enigma Network" of 2017. L&A was a bubble we warned about in Sep-2015. During 2015, Unity bought 2.81% of L&A in the market for HK$117.509m, a split-adjusted $4.18/share. The stock crashed on 6-Jul-2016 and is now at $0.035.
HK Court of First Instance, 14-Nov-2018
The plaintiffs win an order for discovery in relation to L&A's purchase of 47.63% of Red 5 Studios Inc. on 28-Apr-2016, The first plaintiff is a 100% subsidiary of Unity (0913). The 2nd was an ED of Suncorp (1063) until 23-Nov-2015. Unity and Suncorp both featured in our "Enigma Network" of 2017. L&A was a bubble we warned about in Sep-2015. During 2015, Unity bought 2.81% of L&A in the market for HK$117.509m, a split-adjusted $4.18/share. The stock crashed on 6-Jul-2016 and is now at $0.035.
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
Sometimes, all you need to tell a story is a picture. (15-May-2017)
CEEI (0986) buys shares in GCPS (8193), sells shares in Suncorp (1063)
Company announcement, 19-Oct-2016
Company announcement, 19-Oct-2016
Suncorp (1063) lends HK$100m to Zhongrong International Finance Co Ltd
Company announcement, 3-Feb-2016
The announcement fails to note that Suncorp is 6.57% owned by Zhongrong International Trust Co Ltd, presumably of the same group.
Company announcement, 3-Feb-2016
The announcement fails to note that Suncorp is 6.57% owned by Zhongrong International Trust Co Ltd, presumably of the same group.
CAID (0048) gains from umbrella bubble
Following a Webb-site complaint to regulators, CAID has revealed 3 holdings, including umbrella maker China Jicheng (1027), still trading at over 70x NAV. CAID expects the investments to contribute a positive return in the near future, but doesn't say why. Meanwhile Lerado (1225) hasn't said how it made similar gains. Is it also in the umbrella bubble? (10-Oct-2015)
Following a Webb-site complaint to regulators, CAID has revealed 3 holdings, including umbrella maker China Jicheng (1027), still trading at over 70x NAV. CAID expects the investments to contribute a positive return in the near future, but doesn't say why. Meanwhile Lerado (1225) hasn't said how it made similar gains. Is it also in the umbrella bubble? (10-Oct-2015)
Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
China Env Energy (0986) pays HK$61.5m for 51m shares (0.337%) of Suncorp (1063) @$1.205
Company announcement, 17-Apr-2015
Company announcement, 17-Apr-2015
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