Tribunal date set to hear Ngai Hing Hong allegations

Hui Sai-chung - the chairman of plastic raw material manufacturer Ngai Hing Hong - and two other directors would be called before the Insider Dealing Tribunal on July 6, a preliminary hearing concluded yesterday.

The chairman along with deputy chairman Hui Kwok-kwong and financial controller Taylor Ho Tai-loi are alleged to have purchased the company's shares on July 21, 1995, after learning it would soon announce record profits for the year to June 1995, the tribunal heard.

Hui Sai-chung and Hui Kwok-kwong are founding members and majority shareholders of Ngai Hing Hong and both have more than 27 years of experience in the industry.

The two are unrelated.

Mr Ho is in charge of the company's financial management and has 13 years of experience in finance.

The three are alleged to have earned a $1 million profit by trading in privileged information after the company's shares rose sharply after the results announcement, a source said.