Thursday 26th July 2007

Dear Reader,

It's hard to believe it, but as recently as 5 weeks ago, at least one broker had a valuation of $9.01 on Egana...

NEW ARTICLE
Egana and Upbest (26-Jul-07)
Following this week's charges by the ICAC against certain directors of Upbest (0335), Webb-site.com looks at the connections between EganaGoldpfeil (0048) and Upbest, and we don't like what we see. There's a mixture of out-and-back profit-generating transactions, innovative accounting policies, investments in closed-end funds, interest-free "deposits", rolling promissory notes and yes, an aborted gas transaction in the PRC. Are we looking at the next Moulin here?
https://webb-site.com/articles/eganaupbest.asp
 

RECENTLY ON WEBB-SITE.COM
HK Government intervenes in journalism (14-Jul-07)
Was overseas coverage of HK's Handover anniversary too much and too positive? Webb-site.com exposes the Hong Kong Government's junket journalism programme, spending taxpayers' money flying journalists here, putting them up in 5-star hotels, and biasing the coverage of HK affairs. (14-Jul-07)
https://webb-site.com/articles/junketjournalism.asp
 

PASS IT ON!
This free, no-spam newsletter goes to over 15,000 practitioners, issuers, regulators and investors in Hong Kong's markets. It's not-for-profit, so we depend on referrals. Invite a friend to subscribe! Click the link below:
https://webb-site.com/pages/refer.asp

Visit our archives, and do your due diligence homework before you invest:
https://webb-site.com/articles/

COPYRIGHT NOTICE
This e-mail and small extracts of any article on the site may be freely quoted in any other publication but ONLY if attribution is given to Webb-site.com.

____________
David M Webb
Editor, Webb-site.com
https://webb-site.com