Serious moral issues must be addressed

PUBLISHED : Tuesday, 05 December, 2000, 12:00am
UPDATED : Tuesday, 05 December, 2000, 12:00am

I have been following with great interest Jake van der Kamp's articles on the MTR Corporation 'greenshoe' (or over-allotment option) issue.

He has asked several searching questions but so far appears to have received no definitive answers which would appear to indicate that his implied conclusions regarding the necessity of this issue and the share allocation are correct.

This is a very serious affair and the public deserve answers as it appears that, although there are no legal issues involved, there are certainly moral and ethical ones and as our Financial Secretary, Donald Tsang, is very much involved he should be the one to come clean and tell us the real story.

This appears to be a classic Hong Kong case of the rich getting richer and the poor getting poorer and it is apparent that these shares did not have the opportunity of reaching the man in the street, that is, the people who supported the initial issue and deserve the opportunity of making some money out of it.

Don't give up until you get some answers Jake.