Hong Kong, Asia's leading financial centre
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











Hong Kong Court Sentenced Chairman Personal Assistant of Listed Company Kingboard Holdings to 240 Hours of Community Service for Insider Trading with $2,440 Profit on Possible Privatisation of Elec & Eltek International, Fine of $3,200 & SFC Investigation Cost of $4,900 

28th October 2023 | Hong Kong

A Hong Kong court has sentenced the Chairman Personal Assistant (Wong Pak Wai) of Hong Kong listed company Kingboard Holdings to 240 hours of community service for insider trading with $2,440 profit (HKD 19,080) using insider information on possible privatisation of Elec & Eltek International, and to pay a fine of $3,200 (HKD 25,000) and Hong Kong SFC (Securities & Futures Commission) investigation cost of $4,900 (HKD 38,277).   Hong Kong SFC: “Wong, who was the personal assistant to the chairman and executive director of Kingboard Holdings Limited (KBH) at the material time, was also ordered to pay a fine of $25,000 and the SFC’s investigation costs of $38,277.  The Court heard that Wong became aware of the possible privatisation of E&E proposed by KBH’s chairman and executive director in a meeting on 21 March 2020.  Knowing the possible privatisation was inside information, he went on to purchase 3,000 E&E shares through his securities account on 24 March 2020 at an average price of $10.98, before trading in the shares was suspended on the next day.  Upon resumption of trading in the shares of E&E on 3 April 2020 after an announcement of the possible privatisation, the company’s shares closed at $17.26, representing a 62.83% increase from its previous closing price of $10.6 prior to the suspension.  On 6 April 2020, Wong sold the 3,000 shares he bought on 24 March 2020 at an average price of $17.34 and made a profit of $19,080 … … In sentencing Wong, the Magistrate emphasised that insider dealing is a serious offence and under usual circumstances, the appropriate sentence for such an offence should be one of immediate custodial sentence.  However, the Magistrate considered that a community service order is appropriate in this case, having taken into account the relatively small profit involved and Wong’s early admission of liability.  The Magistrate reminded Wong that he could reconsider imposing an immediate custodial sentence if Wong is not cooperative when complying with the community service order.”  More info below:

“ Hong Kong Court Sentenced Chairman Personal Assistant of Listed Company Kingboard Holdings to 240 Hours of Community Service for Insider Trading with $2,440 Profit on Possible Privatisation of Elec & Eltek International, Fine of $3,200 & SFC Investigation Cost of $4,900 “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2024 Family Office Summit
17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here


2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable.   Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

Hong Kong SFC’s Executive Director of Enforcement, Mr Christopher Wilson: “This case sends a clear message to the public that the SFC has absolutely zero tolerance of insider dealing, regardless of the profit pocketed, as market misconduct creates an unfair advantage at the expense of the investing public and undermines the confidence in our financial system.”

 

 

Hong Kong Court Sentenced Chairman Personal Assistant of Listed Company Kingboard Holdings to 240 Hours of Community Service for Insider Trading with $2,440 Profit on Possible Privatisation of Elec & Eltek International

Hong Kong, Asia’s leading financial centre

26th Oct 2023 – The Eastern Magistrates’ Court today sentenced Mr Wong Pak Wai to 240 hours of community service after he pleaded guilty to insider dealing in the shares of Elec & Eltek International Company Limited (E&E) following a prosecution brought by the Securities and Futures Commission (SFC) (Note 1).

Wong, who was the personal assistant to the chairman and executive director of Kingboard Holdings Limited (KBH) at the material time, was also ordered to pay a fine of $25,000 and the SFC’s investigation costs of $38,277.  The Court heard that Wong became aware of the possible privatisation of E&E proposed by KBH’s chairman and executive director in a meeting on 21 March 2020.  Knowing the possible privatisation was inside information, he went on to purchase 3,000 E&E shares through his securities account on 24 March 2020 at an average price of $10.98, before trading in the shares was suspended on the next day.  Upon resumption of trading in the shares of E&E on 3 April 2020 after an announcement of the possible privatisation, the company’s shares closed at $17.26, representing a 62.83% increase from its previous closing price of $10.6 prior to the suspension.  On 6 April 2020, Wong sold the 3,000 shares he bought on 24 March 2020 at an average price of $17.34 and made a profit of $19,080.

In sentencing Wong, the Magistrate emphasised that insider dealing is a serious offence and under usual circumstances, the appropriate sentence for such an offence should be one of immediate custodial sentence.  However, the Magistrate considered that a community service order is appropriate in this case, having taken into account the relatively small profit involved and Wong’s early admission of liability.  The Magistrate reminded Wong that he could reconsider imposing an immediate custodial sentence if Wong is not cooperative when complying with the community service order.

 

Note:

E&E was listed on the Main Board of the Stock Exchange of Hong Kong in 2011.  The shares were delisted on 25 September 2020 following completion of the privatisation of the company.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 17th Oct2024 Investment Day Singapore 7th Nov2024 Family Office Summit Hong Kong 17th Oct2024 Family Office Summit Singapore 7th Nov2025 Events












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • July 2024 - Hong Kong
    • July 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Oct 2024 - Hong Kong
    • Nov 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014