John Chan Boon-ning has resumed his duties as chairman and director of his 58.3 per cent owned-Fairyoung Holdings from last Saturday, almost five months after criminal charges against him were dropped on June 18. Fairyoung said the son of the late entrepreneur Chan Kee-hwa was invited to return after the directors had found all charges against him were cleared and he had been released from all conditions of police bail on August 24. 'I am glad that I can now finally return to the company. As a major priority, the board of directors and I will be designing a new business strategy, in particular, focusing on our investments to strengthen our operations, networks and connections in China,' Mr Chan said. Mr Chan was arrested on March 2 this year by the Commercial Crime Bureau and had been charged on three counts of theft. He was alleged to have stolen $81 million from a wholly owned subsidiary of Pacific Ports Co, which is 43 per cent owned by Fairyoung. He stepped down as chairman of Pacific Ports shortly after the arrest. The alleged fraud resulted in the sale of Fairyoung's stake in Pacific Ports to New World Infrastructure and a private company linked closely to Macau gambling magnate Stanley Ho Hung-sun for $412 million. It also triggered cash-flow problems at Fairyoung as a bank creditor demanded the repayment of a $4.5 million loan without delay. Fairyoung had $340 million in liabilities on last December 31. The charges were dropped because the police had failed to make sufficient progress in their investigations.