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Inline
Attention

Published in The Standard 英報 on February 23, 2023

DCMP 4904/2022 

The Court has made an oder on 10th February 2023 ordering, among others:-

1.There be a declaration that a trust subsists between Our Company and its clients in respect of the unclaimed trust assets;

2.Our Company may(i) deal with the Small-Sum cash portion of the unclaimed trust assets as Our Company sees fit, including the forfeiture thereof, and (ii) deposit the remainder of the cash portion of the unclaimed trust assets directly into Court;

 3.In respect of the securities portion of the unclaimed trust assets, Our Company may (i) realize the saleable shares in the securities portion and deposit the proceeds into court, and (ii) be at liberty to deal with the unsaleable shares in the securities portion as Our Company sees fit, including the forfeiture thereof;

4.Upon Publication of this notice and mailing of this notice to call clients, Our Company is not required to send any Notice of Lodgement.

Dated this 23rd day of February 2023

Quasar Securities Co., Limited

  _____________________________________________________________________________________


Quasar Securities Co., Limited ceased its securities trading services on 30 June 2022.

Thank you for your continuous support to Quasar Securities Co., Ltd. 

Due to the continuous impact of the COVID-19 and the continuous increase in operating costs, 
the Board of Directors of Quasar Securities has made the decision to close the business before the situation deteriorates. 
All services of Quasar Securities Co., Limited will be discontinued on June 30 2022 (Thursday).

Securities arrangementsCustomers who hold securities must withdraw or transfer the stocks (SI) 
to the customer's designated securities broker before July 29 2022.

Refund and Account Closure ArrangementsFrom now until July 29 2022, 
our company will gradually arrange to return the funds to customers who hold cash, and all customers do not need to withdraw money.If the customer fails to complete the withdrawal before July 29 2022, 

The company will dispose of the customer's account balance and close the account without further notice

If you have any queries about the above information, you can contact our customer service department by 3108 9933. Thank you for your understanding and support.

   ____________________________________________________________________________________________________________________________________


Notice

Intended Application by Quasar Securities Co., Limited (駿昇証券有限公司) (" Company") to Transfer its Unclaimed Clients' Assets into Court

On 31 May 2022, the Company has resolved to cease its business of security trading and custodianship. The Company has therefore contacted its clients by written notices and by email to obtain their instructions on how to deal with their assets held by the Company.

On 31 May 2022, 18 July2022, the Company sent notices to its clients who did not respond. The Company informed them that the Company will cease/ has ceased its business of security trading and custodianship and will no longer manage such clients' assets. The Company further stated to its clients the details of the procedures of claiming the unclaimed assets.

 

The Company intends to apply to the High Court of Hong Kong SAR shortly to transfer its clients' unclaimed assets into Court under section 62 of the Trustee Ordinance ( Cap. 29). For those clients who have not transferred or withdrawn their assets held by the Company and/ or have yet to respond or receive the Company' s notices, please contact the Company immediately and in any event by 14 June 2022.

The Company' s contact details are:

Address: Suite 56, 2701, Level 27, Wing On Centre, No.111 Connaught Road Central, Hong Kong

Hotline: ( 852) 31089933

 

 

Quasar Securities Co., Limited





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Our company may, at any time and from time to time, at its absolute discretion, without notice and without giving any reason therefor, make any changes to the Information and/or the Websites (or any part thereof) and/or decline your access to and/or use of the Websites (or any part of the Websites). Our company shall accept no liability in connection with or arising out of any such change or declination, even if any relevant notice may have been given to our company.

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Our Company is not responsible for any matter related to any software required for linking to any of the third-party websites (including, without limitation, the downloading of such software) or for any consequences from your downloading or using, in any other way, such software. The downloading or use of such software may be governed by a license agreement and you must comply with the terms and conditions therein contained. You are solely responsible for your breach of any such term or condition. Our Company does not accept any liability whatsoever as a result of your downloading or using, in any other way, such software.

Certain sections or pages on this site may contain separate Terms and Conditions, which are in addition to these Terms and Conditions. In the event of a conflict, the additional Terms and Conditions will govern for those sections or pages.

Use of this site shall be governed by laws of the Hong Kong Special Administrative Region.

Risk Disclosure of Security Trading and Trading Stocks in GEM

The fluctuation of stock price can be very large. Stock price may rise or fall, or even fall to no value. Trading stock cannot ensure you profit; but also may bring you big loss. Putting your stock under the custody of licensed corporations, their representatives or their nominees may also incur risk. Before trading, you should understand the nature of the contract(and the provisions herein) and the level of risk you are going to bear.

The stocks in Growth Enterprise Market involve high level of risk, especially the past earning record and earning forecast are not required for listing in GEM. The price can be very volatile, and the liquidity can be very low. You should make a careful consideration before investment in this market. When you subscribe IPO shares through IPO financing, additional financing costs will be incurred even though no shares being allotted.

The potential profits derived from an IPO investment may not offset the transaction costs and interest expense incurred if subscribe on margin. You will incur a loss if allotted shares are unable to sell above the offer price anticipated.

The allotment basis is unknown at the time of subscription. In case of the shares are heavily over subscription, you may only be allotted part of the shares or even no shares at all. On the other hand, if the IPO turns out to be not as popular as it is anticipated to be, then you may get more shares than you would expect.

The risk of using collateral to finance trading or margin financing is very large. Investors may lose in excess of the money and other assets being pledged with the broker house or margin financier.

You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives.

No one can always predict the direction of stock or stock market correctly, investors should assess the professionalism and psychological quality of their account executives, and track their performance records.

Before the trading, investors should understand all commission and transaction fee items with the corresponding explanations, for they would affect investment result.

Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or participant firms. Such limits may vary: you should ask the firm with which you deal for details in this respect.

Privacy Policy

By accessing any of this Websites, you agree to be bound by, and acknowledge and confirm Quasar Securities Company Limited(Quasar)’s treatment of your personal data in the way described herein. Otherwise, please leave this Website anytime.

Quasar collects personal data from the Client. The purposes for which data relating to a client may be used are as follows:

Account opening, processing or other internal control and verification
Brokerage services and related services provided to you
conducting credit checks
assisting other financial institutions to conduct credit checks
ensuring ongoing credit worthiness of clients
designing credit facilities or related products for clients’ use
determining the amount of indebtedness owed to or by clients
collection of amounts outstanding from clients and those providing security for clients’ obligation
to make disclosure under the requirements of any rule, regulation or law binding on Quasar
For marketing purposes of existing and future services and products with our partners
any one or more than one of the uses above

Data held by our company relating to a client will be kept confidential but may provide such information to:

any agent, contractor or third party service provider who provides administrative, telecommunications, computer, payment or other services to Quasar in connection with the operation of its business
any business partner of Quasar
any other person under a duty of confidentiality to Quasar including professionals and agents (including lawyers, accountants and debt collection agents) who have undertaken to keep such information confidential
any financial institution with which the client has or proposes to have dealings
any assignee, transferee, participant, sub-participant, delegate, successor or person to whom customer accounts is/are transferred
any other governmental or regulatory authorities to which Quasar is under a duty to disclose such data

According to the Personal Data (Privacy) Ordinance of HKSAR, customers shall have the right to:

Access and check whether Quasar holds customers personal data
Correct personal data held by Quasar
Check the use, privacy policy and classification of the personal data held by Quasar

Quasar will observe the principles of personal data privacy protection and comply with the provisions of the Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong) in adopting its policy and practices relating to the management of personal data. Personal data received appropriately by Quasar will be treated as confidential information.