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  • November 29, 2014
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  1. Business - Companies - RESTAURANTS

    Three Hong Kong-listed restaurant chains said revenues up as consumption, food scandals hit China

    Posted Nov 28th 2014, 03:47pm by Toh Han Shih

    ... to a rising concern over food safety among domestic consumers,” said Tsui Wah chairman Lee Yuen Hong Three Hong Kong-listed restaurant chains, Tsui Wah Holdings, Café de Coral Holdings and Fairwood ... in revenue to HK$893.45 million in the six months ended September 30, of which mainland revenue soared 65.4 per cent to HK$263.02 million. Hong Kong revenue rose 17.8 per cent to HK$623.42 million ...

  2. Business - Economy - HONG KONG

    Mainland holds key to Hong Kong growth story

    Posted Nov 27th 2014, 04:39am by Toh Han Shih

    ... key to HK growth story Pessimism over a slide in Hong Kong's competitiveness is deepening in the business community, but some of its leading figures say the city can shore up its position by tapping opportunities created by mainland consumers and outward investment. "The rise of consumption in China- I see this as a huge opportunity for Hong Kong," Tung Chee-chen, ...

  3. News - Hong Kong - HOUSING

    'Build homes in Hong Kong's country parks to help the young', say tycoons

    Posted Nov 26th 2014, 05:32pm by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Call to build homes in country parks While young people remain in pro-democracy protest camps on the streets of Hong Kong, several prominent businessmen ... Vincent Lo Hong-sui, chairman of Shui On Land, a Hong Kong-listed property developer. "We have to give hope to young people that they will be able to have a decent place. Otherwise, why do ...

  4. Business - China Business - CRIME

    Beijing to step up tax evasion campaign after US multinational firm caught

    Posted Nov 25th 2014, 05:05am by Toh Han Shih

    ... tax evasion. The Hong Kong government would be expected to assist Beijing in stepping up the fight against cross-border tax evasion, Joe Chan, a partner at accounting firm EY, said. A US ... tax evasion by the end of this year. Hong Kong could be expected to cooperate with Beijing's efforts to combat international tax evasion because Hong Kong had a tax treaty ...

  5. Business - China Business

    Slow economy cools Tingyi profits

    Posted Nov 21st 2014, 02:56pm by Toh Han Shih

    ... consumption continued to see a slowdown in growth. Meanwhile, beverage sales were hit by the abnormal weather and cool summer,” said the Hong Kong-listed firm. In the third quarter, the turnover ...

  6. Business - Companies

    Compliance push drives demand for Hong Kong lawyers

    Posted Nov 17th 2014, 05:08am by Toh Han Shih, Benjamin Robertson

    ... of corporate lawyers in Hong Kong, attracted by the generous pay packages on offer amid a financial market boom. "Following an upturn in in-house recruitment in 2013, which saw buoyant activity across [multinationals] and Hong Kong companies, recruitment in 2014 has shown no signs of slowing," said Lewis Sanders, a Hong Kong legal recruitment firm. "The demand for lawyers ...

  7. Business - Banking & Finance

    Hong Kong seen as key link for funds fleeing London

    Posted Nov 17th 2014, 05:08am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com HK seen as key link for funds fleeing London Hong Kong has become an important conduit for laundering money fleeing London, say risk consultants ... a director of British risk consultancy Alaco. "We are aware that some of these customers have transferred funds to second-tier financial institutions in Hong Kong," Carey said. Terrorist ...

  8. Business - Companies - FRAUD

    Muddy Waters alleges fraud at Superb Summit

    Posted Nov 20th 2014, 04:00pm by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Muddy Waters alleges reported revenues came from non-existent unit Superb Summit hit by fraud allegation Hong Kong shares of Superb Summit International ... entire 5.17 per cent stake in Superb Summit, according to the Hong Kong Stock Exchange website. Superb Summit executive director Wu Tao resigned on September 15 while remaining a lawyer ...

  9. Business - Companies - CRIME

    NVC chairman accuses top Chinese banks of collusion in founder's alleged embezzlement scheme

    Posted Nov 17th 2014, 02:14pm by Toh Han Shih

    ... Lighting accuses banks of aiding fraud Mainland police are investigating executives of three major Hong Kong-listed banks over allegations they helped Wu Changjiang, the founder of NVC Lighting ... information. It was the first time Wang had publicly named the three banks. In a Hong Kong stock exchange announcement on November 6, NVC had said Wu withdrew hundreds of millions of yuan from ...

  10. Business - Companies - REGULATION

    Nowhere to hide from bribery laws

    Posted Nov 17th 2014, 05:08am by Benjamin Robertson, Toh Han Shih

    ... Webster said. More than half the fraud office's caseload was bribery-related, he added. The potential significance of extraterritoriality anti-bribery laws for Hong Kong was illustrated last ... or in [Britain], it would cover proceeds of crime, all sorts of financial crime beyond the scope of the current Bribery Act," said lawyer Kate Blackwell, who was in Hong Kong last month to discuss ...




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