GEM stocks shine in crazy summer of trading Some say God well may have planned to destroy us mortals by first making us crazy. We have proof from looking at some numbers at the Growth Enterprise Market. If you happen to invest in GEM board shares this year, chances are that you make money nine out of 10 times. There is also a more than 10 per cent chance that you hit at least a five-bagger. According to data provided by Thomson Financial, almost 54 per cent of the 179 actively traded GEM companies doubled their share price from January to June. If you are lucky, you hit a 10-bagger jackpot with 11 companies, with the best paid off coming from Tiger Tech Holdings, up 37 times in six months. Only 14 companies were down year to date, with the worst being Aptus Holdings, down 57 per cent. Aptus as much as tripled its share price last year before rounding the year with a 50 per cent gain. GEM had a record of 449,350 transactions in the 20 trading days last month. Trading volume totalled HK$23.86 billion, only second to the record of HK$33.67 billion when Tom.com debuted in March 2000. The bullish sentiment definitely makes the summer even hotter when trading stayed above HK$100 billion. No wonder we hear that fund managers don't even want to leave for summer holidays. Tongues wag over Chu For the fifth day, Radio Television Hong Kong's outgoing chief, Chu Pui-hing, has become the most popular dim sum, and everyone wants a piece of him in gossip over lunch. We eavesdropped on a certain government public relations veteran, who said that our Chief Executive Donald Tsang Yam-kuen owed a lot to the mainland, especially Sichuan. 'First, it was the paramount leader Deng Xiaoping from Sichuan who laid down the foundation of 'one country, two systems'. 'Second, we received a pair of very cute pandas - Ying Ying and Le Le - from the panda province. 'These days it was Coco who brought down Chu Pui-hing, clearing a major obstacle to eventually downsizing RTHK.' Now, does anyone fancy a spicy lunch? Newest member of TVB board One man falls, another man rises. Television Broadcasts yesterday appointed former member of the government secretariat Gordon Siu Kwing-chue as independent non-executive director. Mr Siu, who is also independent non-executive director of Transport International Holdings and China Resources Enterprise, will get from TVB an emolument totalling HK$125,000, including a director's fee of HK$75,000 and audit committee fee of HK$50,000. Seeing double at Bocom Bank of Communications International will be 'seeing double' in senior management. Managing director and head of investment banking Ronald Wan Ten-lap confirmed that he had recruited his elder twin brother, Philip Wan Ten-lok, to become the firm's managing director later this month. This marks the first time the brothers will be working in the same company since they entered the world of corporate finance in 1993. Ronald, a London School of Economics graduate, joined Bocom from SBI-e2 Capital 1while Philip, from Stanford University, spent his career in BOCI and recently with Macquarie Securities. The Wan brothers were also both chair professors of Renmin University of China and committee members of the Hong Kong Securities Institute. Ronald said: 'We are going to have synergy, and we'll prove 1+1 = 3.' Worse than a plunging IPO You can't please all shareholders, but it may be better to upset just one. Cheong Ming Investments' latest rights issue received an overwhelming support from 1,258 shareholders, which gauged a demand of more than 4.7 times of the printing firm's share offer. One shareholder subscribed for 203.49 million rights, or 171 per cent of the aggregate rights, for HK$71.22 million. But he was only allotted 194,674 shares, less than 1 per cent of his application. With this allotment ratio, wouldn't it be easier to get better returns in a plunging IPO?