New York-based private equity firm Crestview Partners and China's CITIC Capital Partners have reached a deal to sell their portfolio company, Canadian auto parts maker Stackpole International, to Hong Kong-based Johnson Electric Holdings Limited for as much as US$659 million, according to a company announcement. The all-cash transaction values Stackpole at US$608 million on an […]

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Chief Secretary Carrie Lam, Permanent Secretary for Security Joshua Law, accompanied by Commissioner of Police Stephen Lo, visited the Junior Police Call Fight Crime Summer Camp at Wu Kwai Sha Youth Village today.

About 1,800 JPC members are taking part in this year's camp from August 11 to 14.

Mr Law said the JPC has contributed to the reduction of youth crime in recent years. He encouraged JPC members to continue spreading fight crime messages.

A career expo is also being held at the camp this year to help members plan their lives.

Commissioner of Police Stephen Lo has not ruled out the possibility of further arrests or prosecutions against mobile car hire application Uber, after officers arrested eight people yesterday.

Mr Lo told reporters today Police received complaints several months ago about Uber providing pay transport services.

Investigations were conducted and Police sought advice from the Department of Justice. The insurance industry was also consulted regarding Uber vehicles' third-party insurance.

Officers seized some exhibits yesterday and will seek further advice from the department after reviewing the evidence collected.

Customs officers have arrested three women and a man for contravening the Trade Descriptions Ordinance by using aggressive sales tactics.

The Customs & Excise Department received complaint that a woman's credit card was charged without authorisation for another 10-year membership to a fitness centre worth $38,000 on top of the 10-year membership she subscribed to earlier.

The transaction was made when the salesperson collected her credit card and identity card, claiming it was for discount purposes.

Although the victim refused the new membership, staff allegedly forced her to sign the credit card receipts, insisting the processed amount could not be cancelled.

One salesperson and three managerial staff of the fitness centre were arrested and have been released on bail.

The department's Group Head of Unfair Trade Practice Investigation, Hui Wai-ming, reminded consumers to refuse to sign any documents if they have no intention to purchase a service.

Consumers should not casually provide an identity card or credit card to any salesperson before making a transactional decision, he added.

Police are working with their Mainland counterparts to combat telephone deception cases.

Commissioner of Police Stephen Lo told reporters today Police have noticed a rising trend in telephone scams in recent months, adding they are cross-boundary crimes where most of the criminal acts are not committed in Hong Kong.

He said officers have been sent to Guangdong and Beijing to liaise directly with their Mainland counterparts.

Both sides have agreed to enhance intelligence exchange, establish a direct communication channel, and conduct regular meetings to discuss the latest developments.

Mr Lo said Police have strengthened anti-deception publicity, and he reminded people to be vigilant against suspicious callers asking for money or personal information.

Zhubaijia, a Shenzhen-based online short-term vacation home rental platform focused on Chinese tourists traveling overseas, has completed RMB200 million (US$31 million) series B round of financing led by CITIC GoldStone Investment Fund, according to Chinese media reports. Other Chinese venture capital firms including AB Capital, Hong Kong-based investment holding company Neway Group Holdings Limited, UC […]

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Beijing-based installment-based online shopping platform Qufenqi.com has completed US$200 million new round of financing led by Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, the company confirms the news in an announcement posted on its Weibo account. Existing investors BlueRun Ventures and Source Code Capital also participated in […]

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