Top Group share price sinks to new low of HK 0.059, market cap at record low-NSW LPAB law school accreditation process in tatters, apparent leakage of market sensitive information from the NSW LPAB in 2019 prior to Top's law school re-accreditation remains unexplained

 by Ganesh Sahathevan 

Top Education Group Ltd's share price has collapsed to a new low of HK 0.059.

The appointment of the fomer Speaker Of The NSW Legislative Assembly Jonathan O'Dea as non-executive director seems to have been  ignored by the market, if not regarded a negative
https://lnkd.in/gNYGx8mv

The NSW LPAB made a number of exceptions in granting Top Group  a license to award law degrees, and seems unconcerned by the fact that Top's share price  is now  85% its IPO price of HK 0.40, and 95%  of the post IPO high of HK0.90. The NSW LPAB's approvals were instrumental in enabling Top's HKEX IPO. 

The NSW LPAB's re-accreditation of Top's law school approvals in June  2019 coincided with a temporary spike in Top's share price. Market sensitive information appears to have leaked out of the NSW LPAB, but there has yet to be any explanation. 

TEQSA, which together with the NSW LPAB enabled Top's IPO, has recently had to confront likely wrongdoing in its Top approval process. It does seem as if the NSW LPAB is asserting some form of  pseudo judicial immunity in an attempt to escape scrutiny. 

TOE BE READ WITH 

Tuesday, March 23, 2021

Zhu Minshen's Top Group share price spiked 26% before re-accreditation on 27 June 2019: NSW LPAB personnel should have been the only persons with knowledge of the price sensitive information

 by Ganesh Sahathevan 

Zhu Minshen's Top Group share price spiked 26%, from a then new record low of 0.27 HKD, to a high of 0.32 HKD in the week before re-accreditation on 27 June 2019. It continued its climb to a high of 0.36 HKD, from which it has since sunk to a new record low of 0.22 HKD.

NSW LPAB personnel should have been the only persons with knowledge of that price sensitive information; with regards the results of the review, and the date of notification. 

                                                   

                                         

TO BE READ WITH 

Thursday, January 14, 2021

Zhu Minshen Top Group law school enrolments still frozen: Regulator NSW LPAB & its Chairman , the Chief Justice NSW Tom Bathurst, maintain silence, despite re-accrediting Zhu's law school in 2019 for five years

 by Ganesh Sahathevan

         Ambassador Cheng Jingye Pays an Official Visit to the State of New 
                          South Wales   (2016/08/16)

The Acting Dean of  Zhu Minshen's Top Group law school Katherine Lindsay , has confirmed in writing, that the law school is still not enrolling news students.  As reported the Top Group froze enrolments in 2019 , for the 2020 year, shortly after receiving re-accreditation from the regulator, the NSW Legal Profession Admission Board, and its chairman, the Chief Justice NSW Tom Bathurst. 

TO BE READ WITH 

Sunday, August 9, 2020

Zhu Minshen Top Group law school froze enrolments in 2019 after NSW LPAB reaccreditation: NSW LPAB & its Chairman , the Chief Justice NSW Tom Bathurst, have provided no explanation

by Ganesh Sahathevan

                          Ambassador Cheng Jingye Pays an Official Visit to the State of New 
                          South Wales   (2016/08/16)

The following statement appears at the bottom of Zhu Minhen's Top Education law school website:


* Law school is currently not accepting any new enrolments for its Bachelor of Laws course

The Acting Dean of the law school,  Katherine Lindsay , has confirmed in writing :

No new law students have been admitted  in 2020.

The decision to freeze enrolments appears to have been made after the NSW Legal Profession Admission Board reaccredited Top's license to issue law degrees on 27 June 2019. 

The NSW LPAB and its Chairman, the Chief Justice NSW Tom Bathurst, have provided no public explanation and have maintained their usual silence. 

Top is listed on the Hong Kong Stock Exchange but the HKEX has not been informed of this freezing of law school enrolments, despite Top relying on its "one and only" and "very unique" law school to sell its IPO.

TO BE READ WITH 

Friday, September 27, 2019

Zhu Minshen announces that NSW LPAB review "went smoothly": AG NSW Mark Speakman and officers unconcerned by Clive Hamilton's disclosures of threats, intimidation and defiance of AFP directives ,share price collapse

by Ganesh Sahathevan

The LPAB''s tick of approval does not seem to have reversed the downward trend in share price.Indeed it does look as if the LPAB has ignored all together the fact that Top's market capitalisation has collapsed since listing. Note that Top's shareprice has fallen 14.29% over the past month,compared to 1.13% for the overall market as measured by the Hang Seng Index

In the words of Zhu Minshen, chairman and CEO of his Top Education Group Ltd:



Bachelor of Law Re-accreditation 

The scheduled re-accreditation process of our Bachelor of Laws (‘‘LLB’’) went smoothly. On 27 June 2019, TOP received formal notification from the Legal Profession Admission Board of New South Wales (‘‘LPAB’’) to accredit TOP’s LLB for a further five-year period commencing from the notification date.
(TOP EDUCATION GROUP LTD
ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 30 JUNE 2019)




All this despite the revelations of open defiance of an AFP directive, threats and intimidation disclosed in Clive Hamilton's "Silent Invasion",which have been previously reported on this blog:

In his 2018 book "Silent Invasion" Professor Clive Hamilton reports that Top Education Group's Zhu Minshen organised  students , including students from his Top Education Institute to protest  against Tibetans at the  2008 rally , which counted towards the Top students’ assessment.  Zhu’s Top Institution is “perhaps the only accredited degree program in Australia that counts agitating for a foreign power towards its qualifications.”


Hamilton provides details of Zhu's Communist Party China antecedents and his organisation of the 30,000 strong demonstration by Chinese students at the Canberra torch relay, many of them brandishing Chinese flags.

This was clearly an open challenge to the authority , and in public defiance  of, the AFP's directive to Chinese government security that they were not to be involved in the torch relay. As Hamilton puts is "ASIO shat themselves".

Despite this open defiance of the law that they are meant to defend and uphold the Attorney General NSW Mark Speakman and the other senior judicial officers at the LPAB determined that an exception should  be made to allow Zhu to operate the "first and only" law school in Australia that is not part of a university.

END 

See Also 

Law Council Australia 's exception for Zhu Minshen despite Law Council declaring China's justice system "a joke"

"The fishy smell around Zhu Minshen's Top Education Institute": Clive Hamilton's "Silent Invasion" raises questions for NSW AG Mark Speakman & the LPAB

Posted by Ganesh Sahathevan at 5:37 AM 

Posted by Ganesh Sahathevan at 10:10 PM