Corporate Governance

Investor risk lurks in legal structure of China IPOs: lawyers

Alan Guo, chief executive of Light In The Box, watches as a price is set during his company’s IPO at the New York Stock Exchange. Photo: Reuters

As the US market for Chinese stock offerings revives, some experts are warning that American investors could be left out in the cold if a company faces problems, due to an unusual business structure employed by many Chinese companies.

Monday, 24 June, 2013, 12:09pm

Procter & Gamble board’s oversight questioned as boss departs

The abrupt departure of of Bob McDonald from Procter & Gamble has raised questions about corporate planning at the consumer products giant. Photo: Reuters

The sudden exit of Procter & Gamble’s Bob McDonald as chief executive and the return of former chief executive AG Lafley in his place has raised questions about the vigilance of one of America’s highest-profile corporate boards.

29 May 2013 - 2:32pm

UK watchdog says accountants must quiz banks more

Accountants still fail to question banks properly over how they make provisions for poorly performing loans on their books, Britain’s auditing policeman said on Wednesday.

The criticism goes to the heart of regulatory efforts since the 2007-09 financial crisis to restore investor confidence in the figures lenders publish about their health.

29 May 2013 - 10:15am

Dimon clings to JPMorgan chairman title - after fight

Jamie Dimon remains chairman and chief executive of JPMorgan Chase after seeing off an attempt by investors to strip him of the chairmanship role. Photo: Reuters

Jamie Dimon, chairman and chief executive of JPMorgan Chase, took an unusual step to fight off investors seeking more oversight of his activities - he hinted he might quit.

And it worked. At the bank’s annual meeting, JPMorgan shareholders voted down a proposal to strip Dimon of his chairmanship, giving the measure even less support than last year.

22 May 2013 - 10:54am 1 comment

Ping An, Jahwa end dispute as chairman Ge Wenyao stays in job

Photo: Reuters

The high-profile fight between Shanghai Jahwa United's management and its major shareholder, Ping An Insurance, ended happily yesterday, with a mouthpiece of the Chinese communist party calling on both sides to give priority to investors' interests.

17 May 2013 - 4:06am

Siblings of Tom Lee music firm cry foul over digitised accounts

Thomas Lee Tse-ven. Photo: Dickson Lee

John Lee King-cheung and sister Susan Lee So-fong, directors of Tom Lee Music Company and five other family-run companies, asked the Court of First Instance yesterday to order younger brother Henry Lee King-shing and employee Katherine Ng Kit-yee to let them inspect the companies' accounts.

10 May 2013 - 4:46am

Pressure builds to split JPMorgan top roles

JPMorgan Chase chief executive and chairman Jamie Dimon is coming under growing pressure from investors who want to strip him of the chairmanship. Photo: Reuters

A leading shareholder advisory group Tuesday urged JPMorgan Chase investors to end chief executive Jamie Dimon’s tenure as chairman and fire a majority of the company’s board after a US$6.2 billion trading loss.

8 May 2013 - 11:38am

Crazy thinking will damage MTR further down the line

The way to improve MTR's service quality is to put money into it, not take money out of it. Photo: Jonathan Wong

The idea that fare increases should be denied if services are not up to a standard deemed satisfactory by some nebulous panel is alien to any rational concept of how a public service corporation works.

17 Mar 2013 - 2:21am 6 comments

Suspended Pearl Oriental Oil in boardroom shake-up

Wong Kwan says his resignation as chief executive of Pearl Oriental Oil is 'good corporate governance practice'. Photo: Gareth Jones

The company's deputy chairman and executive director, Lew Mon-hung, a former ally of Hong Kong's chief executive, Leung Chun-ying, who was arrested by the Independent Commission Against Corruption (ICAC) twice in the past two months, has resigned all roles in the company because of his "health conditions".

14 Mar 2013 - 7:47am

Women still only a small minority in Hong Kong's boardrooms

The gender balance is not reflected in directorships.

Only three more women were appointed as directors at 50 leading companies in the past 12 months and fewer than one in 10 board directorships at the top companies are held by women, according to the latest research by Community Business, a non-profit organisation.

13 Mar 2013 - 5:31am

SFC looking at third way to settle cases

There have been a number of prominent convictions in recent times, including the imprisonment of Li Jialin of VST Holdings for six months.

With the media reporting settlements worth billions of dollars for manipulating the London interbank lending rate and numerous convictions for rogue trading, market misconduct and insider dealing, the past year was undoubtedly a successful one for securities regulators around the globe.

13 Mar 2013 - 5:47am

New order at the top of Toyota

Toyota is reorganising its car business into four units to speed up decision-making, with one division focusing on its luxury Lexus vehicles. Photo: Reuters

Toyota Motor president Akio Toyoda overhauled his top management for the second consecutive year, strengthening his control over the world's largest carmaker to vie with General Motors and Volkswagen.

8 May 2015 - 4:41pm

Disney investors threaten to revolt over chief executives pay

Bob Iger

A revolution is brewing in the tree-lined streets of Walt Disney's Magic Kingdom, as shareholders prepare to fight the creeping power and rising rewards of the chairman and chief executive, Bob Iger.

3 Mar 2013 - 6:30am

CNOOC will face serious challenges managing Nexen

How CNOOC integrates and manages Nexen will provide a noteworthy example for major state-owned enterprises to follow in the future.

CNOOC's acquisition of Nexen is being watched closely, given that it is China's largest overseas investment acquisition to date. How the China National Offshore Oil Corporation integrates and manages Nexen will provide a noteworthy example for major state-owned enterprises to follow in the future.

20 Feb 2013 - 4:12am

Bid to bar data access in company searches

Members of the public, including the media, will be blocked from viewing key personal information of company directors from next year, the government has proposed.

The move to protect personal privacy came despite opposition among bankers, barristers, journalists and lawmakers that it will hurt transparency and freedom of speech.

9 Jan 2013 - 5:17am