Cheng, Kwee Cheh
Global Tech's Wreck
We take a detailed look at the accounts of mobile phone box-pusher Global Tech (Holdings), which has been doshing out massive "commitment fees" and huge salary increases to its directors even in a year in which it plunged into loss. With a controlling shareholder about to face a mainland trial for tax evasion, he has apparently been making undisclosed connected transactions and breached his non-compete undertaking with the company. (10-Feb-2003)
We take a detailed look at the accounts of mobile phone box-pusher Global Tech (Holdings), which has been doshing out massive "commitment fees" and huge salary increases to its directors even in a year in which it plunged into loss. With a controlling shareholder about to face a mainland trial for tax evasion, he has apparently been making undisclosed connected transactions and breached his non-compete undertaking with the company. (10-Feb-2003)
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