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  1. Audit chief accuses leading lenders of permitting fraud

    Posted Jun 25th 2004, 12:00am by Staff Reporter

    ... the Industrial and Commercial Bank of China (ICBC) and Bank of Communications permitted widespread fraud by accepting false documents and receiving bribes from lenders in the property, vehicle and consumer sectors, according to a report by auditor Li Jinhua presented to the National People's Congress Standing Committee. In one case, borrowers produced fake documents as credentials ...

  2. Consumer stocks top buyer's shopping lists

    Posted Jul 28th 2011, 12:00am

    ... from a strong investor appetite for consumer stocks. The trading on the bourse was delayed for two weeks because Sun Art failed to disclose up-to-date earnings per share figures in its listing ... consumer market, said William Tang, managing director and head of consumer and retail group at HSBC Global Banking, one of the advisers in the Sun Art offering. Mainland consumer stocks were ...

  3. Consumer sues Sinopec over anti-monopoly law

    Posted Dec 04th 2008, 12:00am by Eric Ng

    ... Eric Ng A lawyer and rights activist has filed a lawsuit with a Beijing court, claiming the country's largest oil refiner and fuel distributor, China Petroleum & Chemical Corp (Sinopec), has abused its market dominance by profiteering. The case, ...

  4. Negative wealth hits mainland consumers

    Posted May 22nd 2008, 12:00am by Tom Holland

    ... of individual investors few compared with the total population. As a result, observers thought sliding stock prices would have little impact on overall consumer spending and that China would escape ...

  5. Listings delays and discounts expected

    Posted Aug 06th 2011, 12:00am

    ... listings from the retail and consumer, financial services, and energy and resources sectors were tipped to be the focus. Edward Au, a partner at Deloitte who works with the firm's national ... investors unless their offering price was competitive. But he expected IPOs from the consumer and retail sector to be less affected than those from the financial sector in terms of timing, deal size ...

  6. Consumer confidence a predictive tool when used upside down

    Posted Feb 07th 2005, 12:00am by Jake Van Der Kamp

    ... one of the most reliable 'sell' signals I could ever expect. What shall I do? Let me explain. Every three months, pollster ACNielsen conducts a consumer confidence survey and, ... 12 years pushed consumer prices up by only 22 per cent. The blue line shows you what would have happened if you had put that $100 into the Hang Seng Index throughout the period and never took ...

  7. Ex-CEO charged with stock fraud

    Posted Mar 01st 2008, 12:00am by Martin Wong

    ... Martin Wong The former chief executive of a listed company has been charged with defrauding the stock exchange and authorising the issue of a prospectus containing an untrue statement. Pau Kwok-ping, 54, was chief executive officer of Eco-Tek Holdings, a ...

  8. Positive US consumers boost export counters

    Posted Jul 29th 2004, 12:00am by Staff Reporter

    ... Anette Jonsson Rising consumer confidence in the United States helped push Hong Kong stocks slightly higher yesterday, although many investors are still holding off on their buying before ... with a 0.43 per cent gain to $115.50. Mid-sized property investors also remained strong. Hopes that US consumers would be willing to spend more after a Conference Board index showed a strong rise ...

  9. Bad IPOs not our fault, say advisers

    Posted Apr 13th 2011, 12:00am

    ... environment is only getting tougher. But who caused this? It is not the auditors or the bankers. It is the companies who are committing fraud.' Without naming specific clients, he added: ... by the SEC and has been delisted from Nasdaq, admitted in a statement to shareholders that Malone Bailey had been unable to verify its bank records. Qin's firm also audited Guangdong consumer ...

  10. HKEx impostors lure mainland investors

    Posted Jul 16th 2011, 12:00am

    ... At least one mainland investor has become the victim of a fraud, to the tune of 300,000 yuan, that involves impostors pretending to be authorised representatives of Hong Kong Exchanges and Clearing and luring investors to pay them to invest in stocks listed in the city. The impostors faked HKEx staff cards and had investment agreements with fake HKEx logos. The deeds were written ...




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