Company/Name
Disciplinary Actions
7 Mar 2006
CSC Asia Limited
The GEM Listing Committee of The Stock Exchange of Hong Kong Limited (the "Committee") takes action against CSC Asia Limited ("CSC")
The Committee decided that CSC may remain on the list of GEM sponsors but subject to the following conditions: (i) CSC undertakes to withdraw and not to involve itself as a sponsor in any new GEM Board listing applications for a period of 13 months (starting from 7 March 2006); (ii) two of its principal supervisors - Mr Chiu Chi Kin Andrew and Mr Tang Ho Wai Howard - voluntarily undertake to withdraw and not to take on any GEM listing work for a period of eight months respectively (starting from 7 March 2006); (iii) Before resuming sponsorship of new listings, CSC demonstrates to the satisfaction of the Exchange that it has sufficient systems in place to discharge its duties as a sponsor. In this regard, CSC has agreed to commission an accounting firm to conduct a comprehensive compliance review of its systems and undertaken to implement all recommendations made by the accounting firm; and (iv) CSC is allowed to carry out duties and responsibilities of a compliance adviser of three GEM companies in which the mandates will end on 30 June, 30 September and 31 December 2006 respectively.