Organization

Webb-site founder David Webb owns over 10% of this company. As it has surplus "unutilised funds", it should pay out a special dividend, not invest in CDs on our behalf. At 31-Mar-2024, Fujikon had net cash of $325.8m or $0.77 per share, the same as tonight's share price.

For the 3rd time, the MMT gets it wrong by penalising shareholders for the wrong-doing done to them. This follows Yorkey (2788) in Feb-2017 and Fujikon (0927) in Apr-2019. In each case, the company's failure to disclose was entirely due to the negligence of the directors involved and they should have paid all the fines and expenses. Both the Fujikon and H&H cases were settlements agreed with the SFC, so the SFC has allowed directors to shift part of the burden of their wrong-doing onto shareholders by using company funds. This has to stop.

The MMT reduces the SFC's claim from HK$412,637 to an order nisi of HK$100,000.

This endorsed settlement between the SFC and the defendants is unfair to outside shareholders because they will indirectly bear the cost of fines and expenses charged to the company for wrong-doing against the shareholders, namely the failure by the directors to cause the company to publish information on time. If the D&O insurance policy doesn't cover it, then we call on the offending directors to reimburse the company in full. Webb-site founder David Webb is a 10% shareholder of Fujikon.

After a decade of Christmas Picks, Webb-site.com has produced a compound gain of 1118%, compared with 87% on the Hang Seng Index. That's an average 28.4% per year compared with 6.4% on the HSI. This is getting out of hand! Many have asked whether we would set up a "Good Governance Fund" for HK investors. We tell you why this is currently unattractive, and what the Government should do to facilitate the closed-end fund sector.

Season's greetings to all our readers - time for Santa Webb's annual stock pick. Last year's pick, Shinhint (2728), out-performed the HSI by 6.5% and, of course, lost money. Even so, over 9 years of picks, we've gained 358%, a compound average of 18.4% per year, while the HSI has averaged just 3.1%. So what are we putting under the Christmas tree this year? Read on...

Season's greetings to all our readers - time for Santa's annual stock pick. Last year's pick, Fujikon (0927), gained 43.6%, beating even the 27.3% on the HSI. Over 7 years of picks, we've gained 724%, a compound average of 35.2% per year, while the HSI averaged 5.8%. So what are we putting under the Christmas tree this year? Read on...

Season's greetings to all our readers - time for our annual stock pick, when Santa rummages in our sack of small-cap investments for the stock we think is most likely to perform over the next year. Last year, our pick gained 30.8%, much better than the 10.9% on the HSI. Over 6 years of picks, we've gained 474% and beaten the HSI by 392%. So what are we putting under the Christmas tree this year? Read on...

They changed their plea to guilty since 1-Sep-2004 when Mr Wong Pui Ming pled guilty.