Tang, Gareth Yau Sing 鄧有聲
Chung Keng v Pearl Oriental Oil (0632)
HK Court of First Instance, 2-May-2019
"If it is possible for a company to obtain from the Exchange approval of the appointment of Ms Lyn it goes some way to explain why the Companies Court rather too frequently encounters examples of inadequate corporate governance by Hong Kong listed companies. I will be sending a copy of this decision to HKEx and I would hope that it will look into this matter." - Justice Jonathan Harris. Our comment: the judge misses the point. INEDs should be elected by independent shareholders. The INED system is a joke, so long as HKEX allows controlling shareholders to vote.
HK Court of First Instance, 2-May-2019
"If it is possible for a company to obtain from the Exchange approval of the appointment of Ms Lyn it goes some way to explain why the Companies Court rather too frequently encounters examples of inadequate corporate governance by Hong Kong listed companies. I will be sending a copy of this decision to HKEx and I would hope that it will look into this matter." - Justice Jonathan Harris. Our comment: the judge misses the point. INEDs should be elected by independent shareholders. The INED system is a joke, so long as HKEX allows controlling shareholders to vote.
Golden Resorts and CESV
M-chip Golden Resorts (1031) is seeking shareholders' approval on 17-May-05 to sell a stake in an associate to a BVI company for HK$52m, or a P/E of 0.63. Meanwhile across the ocean, Nasdaq-traded China Energy Savings Technology (CESV) says that on 1-Feb-05 it completed the purchase of the same stake, in exchange for shares worth HK$731m, from the same BVI company. Who's telling the truth, and why is Golden Resorts selling for so little? (8-May-2005)
M-chip Golden Resorts (1031) is seeking shareholders' approval on 17-May-05 to sell a stake in an associate to a BVI company for HK$52m, or a P/E of 0.63. Meanwhile across the ocean, Nasdaq-traded China Energy Savings Technology (CESV) says that on 1-Feb-05 it completed the purchase of the same stake, in exchange for shares worth HK$731m, from the same BVI company. Who's telling the truth, and why is Golden Resorts selling for so little? (8-May-2005)
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