With reference to a report in Business Post on September 7, 'China jewel in BEA vault', we wish to clarify that Bank of East Asia (BEA) chairman David Li Kwok-po did not, at a meeting with Jackson Tai of DBS Group, receive or discuss any offer or overture from DBS to acquire BEA, nor did Mr Li summarily reject such an overture. Any inference Mr Li acted in any way without proper consideration or recourse to the bank's board or shareholders, or that Mr Li was in breach of his duties as chairman and director, is incorrect. We apologise to Mr Li for any misunderstanding.