Sincere holds press meeting

PUBLISHED : Sunday, 15 August, 1993, 12:00am
UPDATED : Sunday, 15 August, 1993, 12:00am

SINCERE will hold a press conference tomorrow to settle the controversy surrounding its payment of special bonuses to directors.

The company announced yesterday that chairman Walter Ma would meet the press to ''answer and clarify any questions referring to the special bonus issue''.

Sincere has been in the news for the past two weeks over its decision to pay directors bonuses totalling $114.75 million for the year to February.

On Friday, the chairman announced that the Ma family, which holds controlling interest in Sincere, would pay back $66.68 million to the company.