机构

Webb-site founder David Webb owns almost 10% of Ming Fai and calls for a special dividend of at least $0.352 per share to reduce net cash to not more than HK$300m (34% of net assets) after the sale of the investment property, which we support. Ming Fai has a strong core business, but if the current board, which holds 33% of Ming Fai, doesn't do the right thing then we will nominate directors who will.

This is the stealth carbon fibre electric bike project of Alco (0328), mentioned in the results last week without naming it. Danish records show that Biomega ApS is a 100% subsidiary of Alco. Webb-site founder David Webb owns over 10% of Alco.

This follows yesterday's scheduled completion of the disposal of 3 floors of Zung Fu Building, Quarry Bay, the net proceeds of which were expected to be HK$534.2m, or about $0.92 per Alco share. Webb-site founder David Webb holds over 9% of the company.

Disclosure: Webb-site founder David Webb owns over 7% of Alco.

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...