The stock exchange has censured Wong Po-Yan, former chairman of the Airport Authority, Legislative Councillor Li Wah-ming and three other Alco Holdings directors for breaching listing rules concerning connected transactions.
The three other directors of the consumer-electronics manufacturer are: Kimen Leung Kai-Ching, chairman of the company; Wilson Leung Wai-sing, the chairman's son, and Andrew Kuok Kun-man.
Mr Wong and Mr Li are independent directors, while the others are executive directors.
The exchange's decision yesterday to announce the censure of the directors followed a disciplinary hearing on August 3 by its listing committee. Other than the announcement of the wrongdoing, there is no other penalty.
The stock exchange said Alco was involved in merchandise transactions from November 1992 to June last year that were not fully disclosed.
The company supplied telephones and other consumer-electronics products to three Venturer Group companies - Venturer Electronics, Venturer Electronics UK and Venturer Electronic De Chile - wholly or partly owned by David Leung, another son of the chairman.
