"97pc oppose railings plan but it's still not died"

Title of an article in the South China Morning Post, which has become a show piece of the local language teaching system instituted by Tung Chee Wah.

Local reporters and editors producing a paper chock full of grammatical and semantical errors.


"97pc oppose railings plan but it's still not died
Daniel Sin
Sep 27, 2009


Despite overwhelming opposition to railings proposed for Old Peak Road, the Central and Western District Council and the Transport Department are not willing to abandon the project."

First Natural (1076) - The Chairmans alive!

So this bastard Yeung Chung Lung with the retarded son is not only still alive but is contesting ownership of a public company in a court in China. So WTF has been in control of this company since it's suspension and mass resignations in December last year?

Has the CEO of a public listed company defected and is still in control? Who has been writing the cheques? WTF has the liquidators been doing? Has the company assets been stripped?

Why are these questions been asked? How the hell does a chairman maintain control of a company after 'disappearing'?

Another example of the risks in investing in small/medium sized companies in China.

Today's filing

HK IPO Scams

In HK Today: $300k IPO scam gets 9 months, $100m scam gets.... friends in high places!!

"Four stock punters who fraudulently submitted multiple applications to boost their odds of subscribing to shares in initial public offerings have each been jailed for nine months."

Guaranteed IPO stock allocations in HK

Shirley Yam, one of the only handful of quality reporters in SCMP does this piece..

"Wouldn't it be great if someone offered you a guaranteed supply of the sought-after shares? Wouldn't it be even greater if someone offered you a guaranteed "bigger than usual" supply of every new offering in the coming months?

I know of such a lucky guy. Let's call him Mr Chan. Via an intermediary, he hooked up in July with someone that offered such a service.

The service isn't cheap. He has to give half of any profit to his counterpart, that is, he bears all the cost, risk and 50 per cent of the profit. And to get into the game, he has to put in bets with a minimum of HK$100 million."

Australia the racist country

Not content with killing off the aborigines, the rednecks have turned on Indians

"He said 15 to 20 people were believed to have watched the assault and were yelling racial abuse when police arrived."

With the help of the police..

The four arrested men, aged between 20 and 30, were later released without charge. Police are now seeking witnesses.

Nothing wrong with a bogus degree

We have "every confidence" in the way we vetted the candidate and that it's a piece of paper... like any other degree. It's not just Neo-Non (0583.HK) it's Really-Non.

"The company would like to confirm that [its chief executive] Dr Tseng Jinsui has obtained the doctoral degree in computer science from Edenvale University through required procedures," said a Neo-Neon spokesman.

Firefighters to strike over 'extravangant' managers

The managerers will go on strike in retaliation for bad spelling..

Auckland firefighters will go on strike tomorrow and hold their protest at the opening of a new $4.9 million station.

The firefighters would be striking at the opening ceremony of the Mt Roskill station at 11.30am, Auckland Firefighters Union president Jeff McCulloch said.

The firefighters were protesting against their stalled contract negotiations and because they believed senior Fire Service management had made bad and extravagant decisions, including funding the new station.

Senior managers had also "wasted" $500,000 on consultants advising on the refurbishment of the Central Auckland Fire Station, despite firefighters who worked there telling them repeatedly it was not necessary, Mr McCulloch said.

"The list of extravagances and terrible decisions goes on and on, and the waste of public money continues with no-one being held accountable."

Neo-Neon CEO's bogus degree

From Mary Ma's bitch..

Neo-Neon CEO's bogus degree
14th September 2009

Congratulations to "Dr." Tseng Jinsui, who has just been appointed as Chief Executive of LED-lighting maker Neo-Neon Holdings Ltd (1868). The announcement states:

"in 1991, Dr. Tseng got his doctor's degree in computer science from Edenvale University, the United Kingdom."

Edenvale University is not a "recognised body" with degree-awarding powers in the UK. A list of those which can award degrees is on the web site of the UK Government's Department for Business Innovation & Skills, which also warns that it is an offence in UK law for any other organisation to offer a degree which could be taken to be that of a UK institution.

SFC enforcer still waiting for new contract

This guy is obstructing "business" in HK and he's going to get replaced with someone more conducive to the "business" of fleecing investors.

"As head of the financial regulator's enforcement division, Mark Steward has for the past three years been the driving force behind a crackdown against those involved in illicit deals.

But with less than two weeks left on his contract, there is a deal of his own that remains in doubt. The Securities and Futures Commission executive director is still waiting to find out whether the government will give him a new term.

"

"His comments, first reported in Ming Pao, have fuelled speculation that the government is under pressure to either replace or clip the wings of the man who is widely credited with the adoption of a hardline approach by the SFC against those who breach market rules."

Chinese officials threaten to blow up family's dam

Official extortion

''Foreigners should not invest in China. It's no use. When they see something valuable, they steal it.''"

Wuliangye Yibin investigated for securities law violations

"Wuliangye Yibin, one of the mainland's largest liquor makers, is under investigation by the China Securities Regulatory Commission for alleged violation of securities laws, the latest sign that fraud still plagues the nation's equity markets"

Former Easyknit Group Chairman accused of blackmail

"Ex-company boss accused of HK$135m blackmail
Loretta Fong
Sep 09, 2009

The former chief executive of the Easyknit Group, Matthew Koon Wing-yee, and three others threatened a businessman and demanded that he give them 100 million shares in his company after losing money trading the shares, the Court of First Instance heard yesterday.

The allegation was made by a lawyer for the businessman as part of civil proceedings in which the man, known only as X because of an order in another court preventing the publication of his name, is claiming HK$135 million from the four.

Daniel Fung Wah-kin SC read a statement from X in response to an application by Koon, Ng Chi-keung, Chan Kwai-nam and Wong Chin-yick to lift an interim injunction granted earlier that froze the HK$135 million X is seeking - equivalent to the value of the shares."

Source of Singaporean Wealth?

``Actually, Singapore's success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials,'' Xie wrote in the e-mail. ``Indonesia has no money. So Singapore isn't doing well.''

Canton Chairman nailed

Bank president authorizes $500+m to his cronies, no doubt getting kickbacks, he (Liu Chanming) then disappears.

One of the thieves will now face a trial which no doubt will end sadly in some back gully. More of the missing funds will no doubt be used to buy more protection services from the 'authorities'.

The loans were allegedly channeled through subsidiaries of Canton Properties, which suspended trading in its shares after Wang disappeared in August 2008 and most of the company's board resigned.

Public company, Private bank

Sea Holdings Group (0251) on the HK stock exchange.

A 97% owned subsidiary, Asian Growth Properties Limited:

Results for the six months ended 30th June, 2009.

Balance sheet:

From the Notes:

16. AMOUNTS DUE FROM/TO A MINORITY SHAREHOLDER

The amounts are unsecured, interest free and repayable on demand.

USD$2m for a shareholder, Chairman's mistress? Got to pay it back if she strays. Nice work if you can get it.

Much better terms than any private bank.