penny-wise penny stock
Tungda Innovative Lighting Holdings was in the news for all the wrong reasons yesterday, after the company's repeated failures to release its 2003 results precipitated a 44 per cent fall in its stock price on Monday.
Sources close to the company tell Lai See that Tungda chairman Chu Chien-tung is something of a cheapskate, at least as far as printing costs go. The company has traditionally printed only about 200 copies of its annual report, and did not increase its print run even as the company's profile increased over recent years. Many interested fund managers instead receive photocopies of the report.
Perhaps this stinginess was one of the factors reassuring investors yesterday, as the stock rebounded 45 per cent.
TOO CLOSE FOR COMFORT
Hong Kong celebrities beware. Bad enough as it is to be hounded by the paparazzi, mobile operator SmarTone will now spread your stolen images instantaneously to sad subscribers without lives of their own.
'SmarTone enriches the video world with exclusive paparazzi scoops to help customers 'get closer' to the artistes important to them,' the company announced yesterday. 'Paparazzi from Express Weekly will be nipping at celebrities' heels to provide videos with voice-over exclusively for SmarTone customers to trail the stars.'
The press release also notes, without a hint of irony, that SmarTone is a recipient of the Hong Kong Retail Management Association's Service and Courtesy Award.