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  1. Due diligence? What's that? ask Asia-based business executives

    Posted Aug 05th 2010, 12:00am by Amanda Lee

    ... Amanda Lee A quarter of Asian-based company executives did not carry out due diligence on takeover targets before closing the deal, a survey of cross-border acquisitions over the past three years reveals. The survey, compiled by consultancy firms Mercer and Kroll, shows that 26 per cent of the 155 respondents had never conducted due diligence- an investigation of a business ...

  2. Listing sponsor first to lose licence

    Posted Apr 23rd 2012, 12:00am

    ... and was fined a record HK$42 million. Mega Capital (Asia) was found to have performed inadequate and substandard due diligence as the listing sponsor of Fujian-based garment maker Hontex International, ... to Hontex's request that it should not approach its suppliers, customers and franchisers directly. Also, most of the due diligence was handled by inexperienced Mega Capital staff. ...

  3. Bank gives up role in sponsoring IPOs after job failures

    Posted Mar 08th 2006, 12:00am by Enoch Yiu

    ... Enoch Yiu The financial regulators have sidelined an investment bank from acting as a listing sponsor until next year for due diligence failures. Two of the bank's officers will also ... CSC is one of five sponsors being investigated by the SFC for due diligence failure. 'CSC had failed to comply with various requirements under the code of conduct by failing to act ...

  4. Crackdown on due diligence overdue

    Posted Apr 25th 2012, 12:00am

    ... for having overstated its profits. The SFC said sponsor Mega Capital (Asia)'s failure to discharge its duty of due diligence had prejudiced assessment of the listing application and jeopardised ... most due diligence to inexperienced staff and agreed not to approach related parties directly, effectively putting the applicant in control of the investor-protection process. News of a move ...

  5. More diligence due by IPO sponsors

    Posted Nov 03rd 2011, 12:00am

    ... Holdings were suspended within 64 days last year after the SFC accused it of overstating its profits. This case raises the sort of concerns about the failure of sponsors to conduct proper due diligence raised in recent reports by the SFC. 'Serious deficiencies' in many filings of draft prospectuses and related submissions included dodgy claims and statements and glaring ...

  6. Banks' due diligence built on sand

    Posted Dec 08th 2009, 12:00am by Kevin Rafferty

    ... Kevin Rafferty The Dubai crisis raises fascinating and awkward questions about the wisdom of bankers- again- about sovereign guarantees as well as about the arcane finances and skyhigh dreams of the emirate. To take the bankers first, where were these guy ...

  7. Deloitte punished for due diligence failures

    Posted Jun 28th 2006, 12:00am by Staff Reporter

    ... from sponsoring new listings for nine months for its due diligence failures on the collapsed Codebank. Deloitte & Touche Corporate Finance failed to disclose certain overdue and unpaid ... to the SFC, also without admitting any liability, to settle a case of due diligence failure in the listing debacle of Euro-Asia Agricultural (Holdings). The firm allegedly inflated its revenue 20 ...

  8. Conduct due diligence, buyers told

    Posted Nov 02nd 2005, 12:00am by Sandy Li

    ... Sandy Li Consumers are being urged to conduct due diligence if they plan to buy overseas properties because it is extremely difficult for the Hong Kong authorities to regulate real-estate ... But consumers should exercise caution such as conducting comprehensive due diligence when buying properties in foreign countries, he said. The Consumer Council declined to comment on the operation of UK ...

  9. Opportunities balanced with due diligence

    Posted Apr 26th 2007, 12:00am by Louis Beckerling

    ... of its audit and due-diligence workload on the offering- which eventually saw ICBC raise a world record US$21.9billion in October last year- the firm had close to 500 audit professionals working ... through rigorous due diligence procedures- doing background checks and talking to bankers and lawyers- before we accept a client. 'In the case of SOEs [state-owned enterprises], the risks ...

  10. HSBC reviews green due diligence

    Posted May 10th 2007, 12:00am by Staff Reporter

    ... Cameron Dueck HSBC Holdings is reviewing its environmental due diligence after being accused of breaking its own heavily advertised policies by sponsoring the Hong Kong listing of Malaysian timber company Samling Global. The review is being conducted by Swiss green group Tropical Forest Trust, according to executive director Scott Poynton. It will look at HSBC's ...




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