Genuine apology over penny-stock affair shows humility

PUBLISHED : Saturday, 14 September, 2002, 12:00am
UPDATED : Saturday, 14 September, 2002, 12:00am

The penny-stock fiasco has been a difficult and trying situation for many people, from small investors to government employees. As a resident of Hong Kong, I want to say that Secretary for Financial Services and the Treasury Frederick Ma Si-hang's apology was genuine and represents what accountability is all about.

Is this not a start to what the people of Hong Kong have been asking for in terms of taking responsibility and having civil servants who are humble and compassionate? Mr Ma may or may not have been in the wrong. He may have needed to, or need not have, apologised. But the fact that he did is good for Hong Kong and himself.

It is a pity that his statement was not made a day earlier as soon as the findings were released. But it's never too late and better late than never to apologise. Let's all move on from this.