The CPC has always claimed to practice "Democratic Centralism", which in other words mean the whims of whomever is currently the Secretary General of the CPC or and head of the Central Military Committe. In Hong Kong Xi Jinping's thought on democracy is well-known, look no further than the so-called National Security Law now used to stiffle anyone who dares to protest against the puppetry government of Xi Jinping's in Hong Kong, one cannot help laughing when Xi Jinping said that the one country, two systems won't end in 2049, as if there is truly any existing one country two systems! This is like the CPC calling Tibet autonomous!

Does anyone know where one can buy Sampoerna kretek? Word has it that some Indonesian markets around Causeway Bay might sell this. Thanks.

Police have launched an investigation after a severed, skinned cow head with foliage stuffed into its mouth was found abandoned outside the Antiquities and Monuments Office in Tsim Sha Tsui on Monday evening.

Disclosure: I do not hold any TROOPS shares, have no financial interest in the company, and have no relationship with TROOPS, the plaintiffs, the defendants, or their advisers. I have not received payment for this post.

I have been reading Real Estate and Finance Fund (In Liquidation) v Sun Cheuk Pak Alan [2025] HKCFI 2478, a Hong Kong Court of First Instance judgment. TROOPS, Inc., formerly SGOCO Group Limited, was the 17th defendant and is listed on Nasdaq.

At paragraph 553, the court held TROOPS jointly and severally liable with several other defendants for two awards: HK$163.4 million concerning the Paris Sky transaction and HK$241.4 million concerning the Note Portion transaction. Their combined face amount is HK$404.8 million. Joint and several liability does not mean TROOPS alone must ultimately bear the entire amount. The company has said that it is appealing the judgment.

The judgment contains extensive findings against the defendants, including findings of fraud, conspiracy, breach of duty, and dishonest assistance. I am not trying to retry those findings on Reddit. I am interested in how the court handled several questions about knowledge, valuation, and damages.

Knowledge attributed to TROOPS

The court declined to find that Madam Lin, who sold the Note Portion to REFF, knew that the transaction harmed REFF (paragraphs 394-396). It separately found that Vicki, a director of SGOCO, knew of the coordinated arrangement and attributed her knowledge to the company (paragraphs 397-406). The issuance of the convertible note was treated as a necessary precursor to the later transaction.

How strong should the factual connection between a director's knowledge and the company's role be before that knowledge produces substantial corporate liability?

The HFS sale and the competing valuation figures

The evidence concerning HFS included figures of HK$13.6 million, HK$14 million, and HK$26.1 million. The sale used HK$26.1 million, the highest of those three figures. The plaintiffs did not provide a formal retrospective valuation for the February 2018 sale.

The court nevertheless found the sale manifestly undervalued. It relied on an earlier HK$50 million sale, the rising property market, evidence that the parties did not regard HK$26.1 million as fair, the lack of negotiation, and the absence of urgency (paragraphs 259-264). The HFS finding formed part of the liability analysis; it was not one of the three separate REFF damages awards in paragraph 553.

Was that circumstantial evidence sufficient to displace the available figures without a formal retrospective valuation?

The rights offering price used for the Note Portion

The court valued the Note Portion by reference to a US$0.99 rights offering price and arrived at HK$12.4 million (paragraphs 546-549). The relevant transaction occurred on 6 July 2018. The final SEC prospectus is dated 31 August 2018, discusses the 23 August market closing price, and warns that the subscription price might not represent fair value.

The judgment also relied on other evidence: a US$1.50 conversion price from April 2018, the US$1.14 closing price on the transaction date, and an appraisal producing a similar result. In that context, how much weight should be placed on the later rights offering price and its fair value disclaimer?

A later transaction used to value a 2016 asset

For the First Asia Stake, the court used a US$0.92 price from a June 2018 transaction as a proxy for value in December 2016 (paragraphs 529-530). It considered that figure conservative, noted that it fell within the earlier trading range, and found no persuasive evidence of material deterioration during the intervening period.

The later transaction was itself connected with conduct criticized elsewhere in the judgment. Was the US$0.92 figure sufficiently reliable for a date about 18 months earlier, or should the uncertainty have been reflected through a range or discount?

The aggregate damages and REFF financial position

The court awarded REFF HK$79.2 million, HK$163.4 million, and HK$241.4 million across three transactions, approximately HK$484.0 million in total. The quantum section calculated each transaction separately (paragraphs 523-549).

The judgment refers to the participating fund's falling per-share net asset value, but the quantum section does not set out a consolidated before-and-after REFF balance sheet or monthly management-account bridge showing how the three awards fit together. The judgment also records a HK$185 million CITIC mortgage over First Asia Tower that was not discharged when ownership changed. The Paris Sky calculation used HK$368.4 million as fair value and subtracted the HK$205 million sale price. The quantum section does not expressly state whether the HK$368.4 million figure was gross asset value or equity value after liabilities.

A company's net asset value at one moment is not automatically a legal ceiling on damages, and the valuation report may already have accounted for liabilities. Even so, would a consolidated bridge have made it easier to verify that liabilities, timing, and any overlap were properly addressed?

Questions for discussion

Do these points raise genuine questions about the reasoning, or does the judgment adequately explain why the available circumstantial evidence was sufficient? I would especially welcome views from Hong Kong litigators, accountants, valuation professionals, and company directors.

One first-instance case cannot establish that Hong Kong is generally unsafe for foreign business. A narrower question is whether U.S.-listed and other foreign companies involved in Hong Kong transactions should review how they document valuations, board decisions, directors' knowledge, and the company's financial position. Or is this case too fact-specific to support that lesson?

Case citation: Real Estate and Finance Fund (In Liquidation) v Sun Cheuk Pak Alan [2025] HKCFI 2478, HCA 938/2022.

What are the alternatives to KMB? That app is so slouchy with the full screen ads. Super hard to use one handed if an ad pops up.

I’ve tried Alipay Bus ETA but it’s off by quite a bit?

What are the best alternatives?

[Remove if not relevant]

Hi folks,
This post is targeted at those of us who own and drive BMW's in HK.
As an E90 3 series owner, I wonder where I can meet like minded petrol heads in HK.

Every now and then I would see some nice 20+ year old classics of my childhood roam the streets like an E46 3 series, E60 5 series which seem a bit more common and an elusive E63 6 series I spotted at the airport car park a while ago.

Is there a car subreddit and / or fb pages for enthusiasts?

I appreciate everyone's help ^_^

I am new in Hong Kong , and I found out most of the football leagues are on NOW TV , but it is very expensive especially for the students.

I want to watch champions league , is there any other option to watch champions league matches in Hong Kong ?

Bloodied cow head found outside Antiquities and Monuments Office in Tsim Sha Tsui.

https://www.dimsumdaily.hk/bloodied-cow-head-found-outside-antiquities-and-monuments-office-in-tsim-sha-tsui/

The building is acquired by DANIEL & CO.

Well known the proxy agent of Bandai products.

TOYC is their own Online Shopping network.

This building will grand open on following 22nd Sep.

There is near to Central Market and QRC 100.

Friends, can you share with me your favorite HK-based tattoo artists? Looking for a fun project to surprise my wife with when we’re there in a few months. Thanks and apologies for not having more detail! Just trying to get a feel for the market.

I will be in Hong Kong for 2 weeks but 1/4 of that will be spent on family related items. This leaves me with 3/4 of the time to see unique sights and eat unique food. The visit is mid September.

For context, I have been to HK several times so all the usual tourist things have been done.

I travel to Toronto, Canada regularly which has a very large Cantonese population so all the typical Chinese food I get to eat regularly.

What I'm looking for are new/unique things to do outside of the usual tourist things, new/unique restaurants they are truely Hong Kong specific gems and difficult to find anywhere else in the world (ex. Roast goose I always hunt down because it's near impossible to get in Canada)

Anything that you can share and recommend I would greatly appreciate!

At Des Voeux Central 39. Not much news about they operate here.

一名六旬婦人被指兩年前於寓所門窗及單位外走廊等張貼煽動性旗幟等，被落案起訴一項「明知而發布或展示具煽動意圖的刊物」罪，周一（7日）在西九龍裁判法院首次提堂。被告拒絕當值律師代表，親自應訊，被國安法指定法官、總裁判官蘇惠德問及是否需要律師代表時，多次高喊「我冇犯罪呀」，又指「你哋所有程序都係錯」。蘇官指被告不斷重複同一段說話，沒回答問題，下令為被告索取兩份精神科醫生報告，以評估是否適合答辯，期間被告須還柙小欖精神病治療中心，案件9月21日再訊。

被告楊秋琪（61歲，報稱退休人士），被控明知而發布或展示具煽動意圖的刊物罪，指她於2024年3月23日至11月4日期間，在天水圍天頌苑某室，於大門、客廳窗戶及單位外走廊張貼旗幟及印有或帶有陳述的物品，並公開展示該等旗幟及物品，意圖引起對政府的仇恨。

案件開庭時，被告身穿黑色外套、束高馬尾、戴深藍色口罩及黑框眼鏡應訊，精神狀態似不俗，雙手撐在被告欄欄杆上，身體輕微前傾。控方表示已準備好答辯，並表明反對被告保釋，同時指被告選擇自行答辯，向當值律師服務表示不需律師代表。

總裁判官蘇惠德跟被告對話時，被告反覆強調自己沒有犯罪，稱遭冤枉。當蘇官詢問她是否需要律師代表，她重複同樣的說法，未有正面回應任何程序問題。蘇官多次嘗試解釋庭上程序，要求被告合作聆聽，但被告重複自己無罪、程序錯誤、遭冤枉等，期間一度抬頭望向天花板。

由於被告始終停留在同一句說話，蘇官遂關注她是否適合答辯，詢問控方被告是否有精神科紀錄。控方回覆無相關紀錄，蘇官遂指基於被告表現，無法確定她是否具備答辯能力，需要先處理程序問題。

蘇官之後再嘗試與被告溝通，詢問她是否曾接受精神科治療，但被告重複自己無罪及程序不公，「法官大人我冇犯罪呀，你哋所有程序都係錯㗎」、「法官大人，我冇犯罪呀，你哋全部程序都係冤枉我㗎」等。蘇官認為，被告未能理解或回應庭上問題，亦未能展示適合答辯的狀態，決定先為被告索取兩份精神科醫生報告，以評估她是否具備答辯能力。

法官再詢問被告是否有其他補充，但她重複「我冇犯罪呀，你哋所有程序都係冤枉我㗎」，期間望向旁聽席。蘇官指因被告從未回答法庭提出的任何問題，不斷重複同一段說話，必須先取得精神科報告，再決定案件後續處理，把案件押後至9月21日再訊，被告期間須還柙小欖精神病治療中心接受看管，以便完成相關精神科評估。

案件編號：WKCC4203/2026

I already have the Jima app which is pretty good for local calls but the new scammers with +86 numbers are coming through. What's the solution?

Thanks

Hi everyone,

I’m a third-year Geography student at King’s College London, and I'm doing my undergraduate dissertation on housing in Hong Kong. Specifically on how the price and type of housing people live in shapes their day-to-day life and how it affects how they feel about future housing aspirations.

I will be comparing two districts. Central & Western and Sham Shui Po. If you’re aged 18-35 and currently live in either district, I'd really appreciate it if you could fill in my survey.

• It will take 4-5 minutes to complete
• It will be completely anonymous - no names, no addresses or IP addresses will be collected

Survey Link
English:
https://forms.gle/WqovDBqDNoGsMS7k6
Chinese:
https://forms.gle/x61e6q7AGtEDaqZq8

Where to find carpenters? Many Shifus outsource work to mainland, but I wanted to know if HK still had this market somewhere, and how to find?

If not, anyone has any recommendations for renting a workshop space for carpentry? A place that would have electric saws, sanders, etc? Do people even do wood working here?

On a separate note, is there a reason why posts with questions in them get downvoted to 0? I scrolled on the subreddit earlier and some random posts get downvoted to 0. I've posted on this sub before asking about tailor clothes recommendations and also got downvoted to 0 which was weird. Just curious. This post is about carpentry / wood working though, lol.