Knock it off, Judiciary: HK courts don't use gavels
The HK Judiciary persists in promoting an object never used in courtrooms as a symbol of law and juridical work. Why not promote something else not found in courts, like a rocket? (19-Oct-2024)

IKEA removes smart-home products from HK, citing National Security Law
Not entirely consistent with the Government's goal to make Hong Kong a Smart City by investing hundreds of HK$ billions into "Innovation and Technology". (12-Sep-2024)

Putting Police in the Policy Address
A new name would set the right tone. (18-Aug-2024)

Meaningless board games at HKEX, and how the UK FCA has just made an awful mistake
We review the proposals for a 6-seat and 9-year limit on so-called INEDs, along with other changes that do nothing to address HK's corporate governance deficit. Meanwhile, a slow-motion disaster is underway in the UK as it scraps fundamental investor rights. (28-Jul-2024)

An open letter to the Board of Time Watch (2033)
 (5-Jun-2024)

Another open letter to the Board of Allan (0684)
 (4-Jun-2024)

Help maintain the Webb-site Database
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year. (19-May-2024)

The HK budget supercomputer hallucination
According to Paul Chan's budget speech, at undisclosed taxpayer expense, HK is supposed to produce a machine 3 times more powerful than the world's current fastest, within 2 years, and without using the best chips which were banned by the USA from export to HK following imposition of the National Security Law on HK. (2-Mar-2024)

HK's Rates reforms: damage to property values, needless complexity and misdirected handouts
It's not too late for the Government to return to fiscal sanity with a simple Rates system rather than practice the populist politics of petty envy. (30-Jan-2024)

Breaking: HK Government withholds Task Force report, citing threat to financial markets stability
We asked for the report. They refused. Now we're really wondering what's in it. (29-Jan-2024)

Hong Kong Island, major vehicle exporter?
Transport Department data suggest that HK Island exported a net 1.25m vehicles in 2022, more than are on the roads in the SAR, and the Island is on track to beat that in 2023. Take a look at the data and tell us why! (9-Dec-2023)

Webb-site bubble warning: Qi-House (8395)
 (29-Oct-2023)

An open letter to the Board of Allan International Holdings (0684.HK)
 (10-Sep-2023)

At last, the Webb-site HKSAR Accounts Explorer
In honour of the 25th anniversary of the SAR, a new tool to deep-dive into its financial history. This may be our last major project, but we hope you will agree that it was worth the time. (14-Jun-2022)

HK is running out of time to re-join the World
As our Editor sits in the air-lock waiting to re-enter HK, he looks at the now-unconstitutional quarantine regulations and the harm they are doing to HK. (5-May-2022)

Tsang Chung Yu, ex-INED of Metaverse Yunji (ex-8287) and 11 others charged with alleged 66m share options fraud | ICAC announcement
SFC, 25-Oct-2024
We note that the 5-year options were granted on 8-Sep-2022, in the midst of a court battle for control of the board, exhausting the 10% limit in one go. All 10 recipients chose to exercise the options that day, with shares issued on 9-Sep-2022 and deposited with the same broker in CCASS. Only 2 purported directors, including Mr Tsang, signed the attendance sheet of the board meeting to grant the options. The other was ED Mr Cheng Kwan Yu, who is not charged. All 10 grantees are charged, along with a Chan Wai Lung, whose alleged role is not yet known. Helpfully, the ICAC routinely gives the ages of defendants. The SFC fails to do so, making it harder to identify them.

SFC obtains court order to freeze HK$6.35bn of assets belonging to suspected manipulators of Ding Yi Feng (0612) shares
SFC, 25-Oct-2024

Sanction of 2 ex-directors of Suchuang Gas (ex-1430)
SEHK, 22-Oct-2024
For failing to cooperate with an investigation. They are now about 72 and 76 years old, so being unsuitable for future HK-listed directorships probably doesn't weigh highly.

SFC obtains 3-year disqualification of Au Yeung Ho Yin, ex-CFO of Fujian Nuoqi (ex-1353) | Judgment
SFC, 18-Oct-2024

SFC suspends Amit Kishan Singh for 7 months | Statement of Disciplinary Action
SFC, 18-Oct-2024
He took a client with him to Bank Julius Baer from Bank J. Safra Sarasin, but faked the meeting log - he conducted account opening by phone rather than in a face-to-face meeting. He has since moved on to Carret Private Capital.

Trio charged with bribery and fraud over referral of bank clients' mortgage loan applications
ICAC, 17-Oct-2024
If the name seems familiar, ex-OCBC Bank employee Amy Chow Bik Sum was jailed for 4 weeks in 2023 after admitting a similar offence. This time she is charged with 2 others including an ex-ICBC (Asia) employee.

Censure of 4 ex-directors of China General Education (2175)
SEHK, 17-Oct-2024
For horrendous diversion of IPO proceeds in 2021 to shore up demand for the shares, basically send the money around in a loop. The Chairman and his son resigned as directors on 27-May-2024, but they still have majority control of the company.

Speeches by CE John Lee and FS Paul Chan at SFC's 35th anniversary event on 3-Oct | FS speech
HK Government, 17-Oct-2024
The CE's office initially declined to send us his speech, calling it a "closed-door event", but relented after we cited the Code on Access to Information. So we hereby publish it. After all, the SFC is a statutory body that is supposed to promote transparency.

Concentration warning in GHW (9933)
SFC, 15-Oct-2024
The top 20 holders have 97.83% at 27-Sep-2014.

SFC commences MMT proceedings against Dickson Poon alleging insider dealing and Dickson Concepts (0113) and its senior executives for late disclosure | MMT Notice
SFC, 15-Oct-2024
Dickson Poon has featured in Webb-site Reports several times in the last 25 years.

SFC fines Zheshang International Financial HK$2.66m for regulatory breaches | Statement of Disciplinary Action
SFC, 15-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

Court sets next hearing date for insider dealing case against Segantii Capital Management and its chief investment officer
SFC, 15-Oct-2024

SFC fines Xinhu International Futures (Hong Kong) Co. Ltd. HK$9m and suspends its former responsible officer Ngai Wai for 9 months | Statement of Disciplinary Action
SFC, 9-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

SFC fines CSC Futures (HK) Ltd HK$4.95m for regulatory breaches | Statement of Disciplinary Action
SFC, 9-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

Fugitive ramp-and-dump core suspect arrested in Singapore and surrendered to HK to face securities fraud charge
SFC, 4-Oct-2024

Sanction of 3 ex-directors of YNBY (0030)
SEHK, 3-Oct-2024
For failing to co-operate with an investigation.

Ex-director of subsidiary of ASMPT (0522) and merchant charged for alleged HK$6m bribery deal
ICAC, 2-Oct-2024

SFC fines Profitech Securities Ltd HK$3.99m for regulatory breaches | Statement of disciplinary action
SFC, 30-Sep-2024
Including a late-reported change of ownership from a "Mr T" on 1-Mar-2021. No, probably not the actor from the A-Team.

PECS Register monthly update
HK Government, 30-Sep-2024
What ex-Senior Civil Servants have been doing since they left office.

Tenwow (ex-1219) v PwC HK & PwC Zhong Tian LLP
HK Court of First Instance, 30-Sep-2024
Justice Anthony Chan criticises the defence for "8 pages of dense arguments" which are not proper grounds of appeal. "A carpet-bombing strategy was adopted where every conceivable point is taken or reargued." He refuses leave to appeal but grants a 7-day stay so that PwC can appeal directly to the Court of Appeal.