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Imagi bubble
We issue a bubble warning on Imagi (0585), up 616% in 4 days on turnover of 185% of the company. The confusing timetable, with a 10:1 consolidation yet to come, has likely contributed to more chaos than we have seen since Asian Citrus. The market price implies a valuation of 33.2 times book value, or a premium of HK$17.3bn (US$2.23bn). We think a discount would be more appropriate, for the characters involved. (14-Apr-2010)
Official Receiver v Andre Sujkin Lee
HK Court of First Instance, 4-Mar-2009
Re Peregrine Investment Holdings Ltd
HK Court of First Instance, 18-Mar-2008
Blackout on Receivables
If you saw the lights dim recently, it was because the Stock Exchange scrapped a requirement for listed companies to disclose large accounts receivable, which could have warned investors about impending disaster. Dressed up as a "minor and housekeeping" rule amendment without consultation, the change is illustrative of the urgent need to increase investor representation on the Listing Committee, to produce pro-investor policy reform. And that's where HK needs your help. (24-Mar-2006)
Publication of the Peregrine Report
HK Government, 26-Mar-2001
The Peregrine Report to the Financial Secretary by Inspector Richard Farrant
Note: the report was not published until 26-Mar-01.
Cancellation of Listing
SEHK, 12-Jul-1999
Financial Secretary v Company
HK Court of First Instance, 22-Apr-1999
Peregrine Investments Holdings Ltd v The Associated Press
HK Court of First Instance, 9-Jul-1997

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