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Enigma Network with David Webb & public space at waterfront (16 Dec 2017)

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-- Due to copyright restriction, no online video is available for this episode. --

In May activist investor David Webb published a report: “The Enigma Network: 50 stocks not to own”. The chart showed complex connections between 50 Hong Kong-listed small-cap companies. This involved a web of cross-shareholdings linking these companies. On 27th June, the value of many of those stocks plummeted, some by over 90%, wiping out more than 6 billion US dollars’ worth of investments. Last Thursday, in an unprecedented joint raid by the Securities and Futures Commission and the ICAC eight premises were searched and four senior company executives arrested. An earlier raid in October examined other connected companies. Trading in six companies has now been suspended. Whether its greenery in the heart of the city or in country parks, that are supposedly protected by law, there’s hardly a scrap of land that developers wouldn’t like to get their hands on. In some cases, they bring submission after submission to town planning boards in the hope that opponents of their developments will give up. Buildings that have a waterfront view today often find that view blocked by a new building tomorrow. We now have a Central waterfront promenade, but much of the north side of Hong Kong island is still off-limits to the public. Other areas where the public have tentative access may soon be lost.

Program: 
The Pulse
Publish Date: 
Saturday, December 16, 2017
Station: 
RTHK
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