PCCW (008) Bugging calls?

This can't be true... in the local news.

PCCW being a carrier will have access to ALL calls on their network, even calls over the GSM network as encryption is only over the air. End to end encryption is required if secure communications is required.


"Sunday, Ming Pao Daily
Telecoms operator PCCW (SEHK: 0008) provides anti-eavesdropping service


Telecoms operator PCCW has an anti-eavesdropping service team. Reporters inquired about the service and a staff member revealed the service team, consisting of more than 10 people, was founded more than 10 years ago, originally to serve boss Richard Li Tzar-kai, who needed anti-eavesdropping measures to protect big business deals. The team was later expanded and the service offered to clients such as multinational companies, real-estate developers, casinos and media companies. The staff member said people who wanted to avoid being victims of eavesdropping should use low-end, "non-smart" mobile phones."

HKex investigating some China companies

This article says 3 "private" companies are being investigated and goes on to mention Chaoda, Realgold, China Forestry and Boshiwa,  but doesn't definitively name which companies are being investigated. There is no mention at all on HKex's web site.

It's a start but three companies is a drop in the ocean of fraud on the HKex (where's First Natural?) and it remains to be seen what real penalties can be imposed by the HKex on the mainland based directors who just thumb their noses at the HKex across the border and disappear with the loot.

HKEx goes after mainland firms accused of fraud

SFC proposes to jail banking scum

for misleading IPO material... but this means all the bankers end up in jail?

Now they need to do something, anything, about the vast majority of the Chinese companies listed on the HKex which are blatant frauds.

"Bankers and brokers may be jailed if they fail to ensure the accuracy of listing prospectuses produced by companies they are sponsoring to join the stock market.
Allocating criminal liability for such misdeeds is part of the Securities and Futures Commission's plan to improve market quality in light of recent scandals that have tarnished the image of the local bourse.




Two sources acquainted with details told the South China Morning Post (SEHK: 0583, announcements, news) that the SFC is expected to propose in a consultation paper that sponsors follow tougher due diligence requirements and should face harsher penalties if they fail to check misleading information in listing prospectuses."

Jack Flader

Giving "career advice" at one of the local HK schools. Giving students the proper skills to work on the HK exchange/SFC...

Macau, City of crims

And guess where the funds are coming from..

"HONG KONG—Gambling revenue rose 24% in Macau last month from a year earlier as gamblers from mainland China continued to fuel growth.

Gambling revenue in Macau, the only place in China where casino gambling is legal, rose to 24.99 billion patacas (US$3.12 billion), Macau's Gaming Inspection and Coordination Bureau said Monday. First-quarter gambling revenue rose 27% from a year earlier."