More information removed from HKMEx website

Questions raised over missing list of executives and broker members of trading platform

PUBLISHED : Saturday, 25 May, 2013, 12:00am
UPDATED : Saturday, 25 May, 2013, 3:37am

More crucial information about the embattled Hong Kong Mercantile Exchange was removed from its website yesterday, a day after the names of its broking members were removed.

The latest removal includes names of the directors and the management team, raising questions why the suspended trading platform is withholding more information from the public and whether it is experiencing a reshuffle of its senior management.

HKMEx surrendered its trading licence to the Securities and Futures Commission last week after failing to meet a key financial requirement.

The news was accompanied by a high-profile police investigation into the company. Four men have been arrested, with three of them charged with having false documents.

HKMEx chairman Barry Cheung Chun-yuen said on Wednesday the four were not employees of the company he founded in 2008 and started trading in 2011.

Cheung resigned last night from his positions as executive councillor, chairman of the Urban Renewal Authority and vice-chairman of the Commission on Strategic Development. He had been under pressure from legislators and the public to do so.

HKMEx's 11 board members and 16 management team members include prominent business people, such as deputy chairman Lili Wang, an executive director of the Industrial and Commercial Bank of China.

Executive director William Barkshire is a former director of corporate strategy at the London Stock Exchange, and non-executive director Artem Volynets is chief executive of En+ Group, which owns a controlling interest in the world's largest aluminium producer, Rusal.

Another non-executive director is Peter Mok Fung, a mainland businessman in real estate and shipping.

A spokesman for HKMEx did not reply when asked why the web information was removed.