You may have the resources, but HKEx and SFC don't If Hong Kong's stock exchange wants to get serious about attracting resources companies, it needs to smarten up its act. Practitioners complain of a lack of experience in the stock exchange and Securities and Futures Commission in dealing with listing applications. A common complaint is that the process is lengthy compared with other exchanges and becomes expensive when questions are asked by either the Hong Kong Exchanges and Clearing or the SFC and need to be answered by lawyers, which have to be paid for. If you are, say, an oil and gas company looking to get a secondary listing on the HKEx, you might as well not bother, if the experience of Tethys Petroleum is anything to go by. The petroleum and gas company does both production and exploration in central Asia. Since it will be selling much of its products to China, including Hong Kong, it wants to be listed on the HKEx - and has spent two fruitless years in that endeavour, despite being listed on the Toronto bourse. Tethys eventually felt it had managed to convince the HKEx, but finally got fed up with its treatment by the SFC. The New York stock exchange can do a secondary listing for an oil and gas company in six weeks, and this includes going through the Sarbanes-Oxley hoops. Tethys admits that exploration in this sector is risky and it operates in a risky part of the world. Hong Kong claims to have a disclosure-based regime, so companies expecting to list should be able to list the risks in their prospectus and let investors decide. But the SFC still appears to be smarting from its experience with minibonds when it was hauled over the coals for allowing these high-risk instruments be sold as low-risk. Practitioners in the resources sector have found it to be more of a merit-based system, where they send their lawyers to go and argue their corner with the HKEx or SFC. A lot of the big exchanges have a straightforward procedure for dealing with secondary listings, Hong Kong does not. Companies have to hire lawyers to argue for them. The city's experience in dealing with resources falls way below those of other exchanges. If it is serious, you would have thought the relevant authorities would go out and hire the experience it needs to do the job professionally instead of having companies that want to list here finance the learning curves of the HKEx and the SFC. There's diversity in bunnies We can report that the Playboy Club's 'Bunny Hunt' drew a high degree of interest in the job of flouncing round the new club in Macau wearing a scanty outfit, looking glamorous and being demure and charming to everyone, particularly men. In fact about 600 women showed an interest in this line of work. Of these 20 were deemed to be sufficiently 'gorgeous, sophisticated and energetic', according to Scott Flanders, chief executive of Playboy Enterprises, who took over from Christie Hefner last year. This group was reduced to 16, with the girls coming from Asia, Australia and the US. The profile of the bunny as the 'iconic mainstay of the Playboy Brand' has changed since Hefner started the magazine in 1953, Flanders says. 'There is a greater awareness that beauty is multiracial', so there are not so many buxom blonde bunnies as there used to be. The new club opens tonight on the top floor of the Sands Macau Hotel. Trumping China Looks like Barack Obama has some competition to worry about in the 2012 US presidential election. Sarah Palin thinks she could give him a run for his money and now Donald Trump appears to be contemplating a run at the presidency. He recently spoke to CNBC of his intentions. The business mogul - and star of the US version of The Apprentice - reckons his plain speaking will appeal to voters. On the subject of a showdown with China, for example, Trump's message is bring it on - 'I hope we do get into a trade war with China.' The CRAPPS A British public relations agency has decided to have a bit of fun in the run-up to Christmas, launching a series of awards to celebrate what it calls 'the special relationship between the media and public relations professionals'. The award categories are: the journalist who makes you feel warm and furry on the inside; the 'most likely to tell you to sling your hook' award; the best blogger PR award; the least twattish Twitterer - the must-follow journo; the journalist you'd most like to bring to the dark side (employ as a PR officer); and most approachable national newspaper. The awards are wittily named the CRAPPS, as in Communicative Relations Awards From PR Professionals. How would this work in Hong Kong?