Sunday 28th April 2019
Dear Reader,
NEW ARTICLE
Enigma
fallout: the social media fund
We piece together
disclosures by 4 listed companies in the Enigma Network to reveal a pseudo-fund
which held a single 55% stake in a social media company, posing new questions
for the regulators. (28-Apr-2019)
RECENTLY IN WEBB-SITE REPORTS
Putting
the dot back in HK
A deep dive into HK's "not-for-profit"
internet domain registry reveals appalling governance, over-charging, continuing
conflicts of interests and a severe case of corporate obesity. In late 2015,
having hoarded enough cash to run the registry for 9 years, the
Government-controlled board reversed a fee cut, losing a quarter of registered
domains over the next 3 years, while seeking ways to squander the surpluses on
mission-creep rather than return the cash to users. There is a better
way. (25-Apr-2019)
HKMA, SFC
announce "serious concerns" about transactions by mainland bank, HK subsidiary
And we think we know who they mean. The facts all point to entities
featured in our network diagram last October. (24-Apr-2019)
IN OTHER NEWS
CFA
dismisses Cheng Chak Ngok's application for leave to appeal
SFC, 26-Apr-2019
The case now goes back to a
new Market Misconduct Tribunal. The first one cleared him but used the wrong
standard of proof, criminal rather than civil.
Concentration warning in Takbo (8436)
SFC,
25-Apr-2019
The top 20 holders have 92.19%.
Concentration warning in Hang Yick (1894)
SFC,
25-Apr-2019
The top 19 holders have 98.02%.
Concentration warning in Champion Alliance (1629)
SFC, 24-Apr-2019
The top 17 holders have
96.76%.
SFC bans Su
Xiqiang, ex-RO of Guosen Securities (HK) Brokerage Co Ltd for 10 months
SFC, 23-Apr-2019
And much more besides...
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David M. Webb
Editor, Webb-site.com