Tuesday 27th April 2010

Dear Reader,

OK, so did you guess right? Here's the answer to yesterday's question...

NEW ARTICLES
MTR Director's Dodgy Degree
Choo-choo! From yesterday's story on Barrington University, we move down the track to unaccredited Kensington University, expelled from California and shut down by Hawaii, from which the MTR Operations Director has a degree in engineering. He is also an adjunct professor at a HK university!

RECENT ARTICLES
Mengniu Dairy CEO's unaccredited MBA
Moo! Who's got a dodgy MBA then? The CEO of China Mengniu Dairy has, along with several other listed company directors we identify. (26-Apr-10)

The Post Office Investment Fund
Following yesterday's Audit Commission report on Hongkong Post, we look at the potential closure of rural post offices, removal of its mail monopoly and universal service obligation, and its cash-rich balance sheet and prime property. We also discuss the Government's tendency to stash pots of money away in different bodies rather than pass recurrent spending through the budget and the Legislative Council and manage its liquid funds centrally. (22-Apr-10)

Shareholders veto HKEx resolution
Following our recommendation, Webb-site.com is pleased to note that investors have sent a clear message, voting by 70.2% against a proposal to allow the company to bypass board meetings and pass resolutions with a simple majority of signatures. We now call on HKEx to make this right by amending the Listing Rules to prohibit such articles, which would weaken corporate governance. (22-Apr-10)

Pass it on!
This free newsletter goes to over 19,000 practitioners, issuers, regulators and investors in Hong Kong's markets. If you enjoy it, then please invite a friend to find out what they are missing and subscribe!

Visit our archives, and do your homework before you invest.

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.