Debutant stock last sizzler before summer break BBMG Corp makes its debut on the stock market today with many expecting it to jump at least 50 per cent in the current listing frenzy, or lottery to be more precise. Think about it, the mainland cement maker and property developer attracted over 400,000 subscribers, or about one in five people you see in this town. It could have attracted even more if there had been fewer careless or greedy people. According to the company, it rejected 1,708 applicants because of suspected multiple applications (742), bounced cheques (697) or invalid applications (269). Of the lucky few who actually got the shares, about 45 per cent succeeded electronically (either through e-banking or eIPO), 42 per cent were white-form applicants (no top-up charge) and 13 per cent applied through their brokers using yellow forms. An added attraction of BBMG is that it is the last initial public offering before the summer break. The casino, sorry, the IPO market, reopens in September. High point of the trip Beijing bigwig Du Qinglin is on his first visit to Hong Kong, so where better to get a good view of the city than the top of IFC2? We understand the head of the United Front Work Department of the Communist Party will be paying an off-diary visit to the harbourfront skyscraper this morning where he will visit outgoing Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong in his 88th-floor eyrie. From there he is likely to descend a few floors to find his pal Henderson Land Development chairman Lee Shau-kee. We are sure Uncle Four will have a few stock tips ready. On time in bad times A revealing statistic about how Cathay Pacific Airways' Hong Kong Dragon Airlines is doing lately is its on-time performance figure. On average, only one in three Dragonair planes manages to depart on time, but this year that has improved to about 50 per cent - 57.1 per cent in May and 47.4 per cent last month. The trouble is that improvement can probably be attributed to the fact that the airline is carrying fewer passengers. Outgoing chief executive Kenny Tang was downbeat about Dragonair's prospects as the airline entered the peak summer season. He said it was not going to be the same as previous bumper seasons, for although passenger numbers might not look bad, the yield would suffer because of a weak premium travel segment. 'The best we can say at the moment is that there are signs the [worst] might now be over,' Mr Tang wrote in his final message published in the in-house Dragonews magazine. 'It has been a very gloomy year so far and I know it is hard to feel fully motivated when the only news you hear is bad news.' So who won the board game? It cost Bauhaus International chairman George Wong Yui-lam almost HK$1 million to remove his ex-wife, Winnie Tong She-man, from the board. According to the annual report of the apparel firm, Ms Tong received HK$898,000 as compensation for loss of office last year. She also got a pay rise to HK$1.69 million, up 39 per cent. Five months ago, chairman Wong called for an extraordinary general meeting to have his ex-spouse, co-founder and vice-chairman removed from the board, a resolution that was duly passed. Mr Wong and Ms Tong still jointly own Huge Treasure, which controls just over 50 per cent of Bauhaus. Pauper don't preach Investment guru Jim Rogers (below) leapt to the defence of the Chinese government this week after suggestions by his American compatriots - Treasury Secretary Timothy Geithner and Secretary of State Hilary Clinton - that mainland consumers should go out and spend more. 'Mr Geithner has been dead wrong about everything for the past 15 years. I mean, he's got a lot of audacity to now tell the Chinese how to run their economy. They have done a brilliant job for the past 30 years,' said Mr Rogers who quit the US for Singapore two years ago. He took exception to the advice being given to Vice-Premier Wang Qishan in Washington. 'The way you build an economy is you save and invest. Mr Geithner and Mrs Clinton apparently want everybody to go out and borrow and spend. That's why we're in trouble,' he said.