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FU CHEONG INTERNATIONAL HOLDINGS LIMITED
HKICPA fines Albert Chan Wing Kui, bans him for 5 years.
Reasons
HKICPA, 26-Apr-2012 As usual, the HKICPA fails to name the listed company. Mr Chan was Financial Controller of Fu Cheong International Holdings Ltd which listed in 2002 and faked its accounts. Ernst & Young was the reporting accountant in the IPO and auditor for 2001. With good behaviour Mr Chan probably served 50 months and was paroled last year.
HKICPA bans Ricky Li Wing Kei
HKICPA, 27-Oct-2011 The listed companies which the HKICPA doesn't name were Gold Wo International Holdings Ltd and Fu Cheong International Holdings Ltd.
HKSAR v Ricky Li Wing Kei
HK Court of Appeal, 30-Jul-2010 Ricky Li Wing Kei loses his appeal against conviction.
Suitability in a disclosure-based market
SEHK has announced possible waivers of the profit criteria. We don't object, but the profit test should be scrapped. It has no place in a disclosure-based market, and is no substitute for better accounting disclosure requirements and effective legal remedies and deterrents, all of which HK still sorely lacks. We make proposals for those. (8-Jun-2009)
Toxic IPOs in HK
In this epic article, we take you through the IPOs of at least 14 listed companies, 3 of which have already led to criminal charges. We explain the inter-relationships between the companies, sponsors, lead managers, auditors and the INEDs. Before you buy another IPO, stop and read this article. (21-Mar-2005)
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