Donald Tsang 77 on list of 80 most trusted

"Only Legislative Council president Tsang Yok-sing, League of Social Democrats chairman Wong Yuk-man and film star Jackie Chan are considered to be less trustworthy than the chief executive, who is ranked 77th in the list of 80."

Society breaking down

The wealth gap is widening such that there is no middle class - just into two camps where the 1% owns 90% of the resources. Teachers, scientists, technicians and engineers have become the slaves of that 1% where they are taxed at multiple points, first by the government then by the 1%.

Dual income couples starting off cannot break into the housing market generating hopelessness, frustration and anger.

This is an international phenomenon and the guillotines will be rolling out soon.

Wealth Disparities in U.S. Approaching 1920s Levels

CCIF CPA Limited

Hall of fame:

Fuji

First Natural (ex)

China Green

Mongolia Energy

Chaoda (ex)

Need to add the following to the red flag list.

Can I have that finger back please?

Another Fujian fraudster

Same old modus operand: CEO/Chairman steal funds, resigns with the board, transfers assets of company away. Local authorities find no evidence.

In this case a hedge fund (Start Investments) fights the good fight in China trying to recover it's property.

Chanos (Kynikos Associates) charitably calls this "leakage" and recommends using other markets countries with better rule of law as a proxy for any investments or shorts on China plays. (yes, Jim Chanos obviously has entered his short positions and with the recent burst of publicity is ernestly talking his book.)

There is one other major Fujian company highly touted by analysts and worth watching closely: Chaoda Modern (0682.HK)

The details in today's SCMP, coauthored by the increasingly competent Naomi Rovnick:

Stark Investments, the multibillion-dollar US hedge fund, has scored a partial victory in its long-running cat-and-mouse fight to seize assets from Sun Jiangrong, a Fujian tycoon it is pursuing over a S$120 million (HK$660 million) unpaid loan.

Yet Sun has now twice succeeded in transferring ownership of the real estate company to an outside entity allegedly controlled by his brother-in-law, using slightly different tactics each time.

Sino-Environment has defaulted on its US$109 million of corporate bonds. Its auditors, PricewaterhouseCoopers, said in November last year it could not verify the whereabouts of US$85 million of the company's cash. Sun resigned as chairman of Sino-Environment in January, along with the firm's entire executive board.


The Monetary Authority of Singapore is investigating the company. The Fuzhou police said in January they found no evidence of embezzlement at Sino-Environment.

Killer of Investment Banker released

.... hopefully to continue her good work