The Stock Exchange of Hong Kong Limited has criticized non-executive director Mr. Chan Cheuk Yin for failing to disclose his interests in his son’s competing business. The Exchange directed Mr. Chan to attend training and settle the disciplinary proceedings. Before the Company was listed, each family member, including Mr. Chan, agreed not to be involved in any business that would likely compete with the Company group, but in late 2013, Mr. Chan provided initial funding for his son’s property development business in China, potentially competing with the Company. Mr. Chan did not disclose his involvement and financial support to the Company’s board, which included acting as a director of companies within his son’s business group.
Resuorce: https://www.hkex.com.hk/News/Regulatory-Announcements/2023/230620news?sc_lang=en