A director of a Hong Kong-listed company yesterday denied that he lied to Hong Kong Exchanges and Clearing in 2003.
Benby Chan Yiu-tsuan, managing director of Asia Aluminum Holdings, yesterday appeared in the Eastern Magistrate's Court and pleaded not guilty to providing information to the Hong Kong stock exchange in a clarification announcement that, to his knowledge, was false or misleading.
In the clarification announcement on July 30, 2003, the company, through Mr Chan, clarified certain points made during an interview with AFX-Asia Financial News, in an article appearing on a website on July 15, 2003.
The clarification focused on Mr Chan's comments on the finances of Asia Aluminum, the region's largest aluminium extrusion products maker, for 2003.
Prosecutor Eric Yung, assistant counsel for the Securities and Futures Commission (SFC), told the court that the prosecution had audio tapes and compact discs as evidence.
He also said the prosecution had four witnesses to be called to the court.
The defence will call two witnesses.