MAJOR shareholders of Chee Shing Holdings have rejected the bid by Hon Kwok Land Investment to take control of the company. The shareholders who rejected the bid were Power Link Investments, Grand Thunder, Francis Cheung, Coral House and Silver Leaf Corp who hold 202.35 million shares, representing a 51 per cent stake in the company. Hon Kwok Land had on March 30 mounted a $586.5 million takeover bid for Chee Shing Holdings, a listed construction and property group. The offer price was $1.50 per share, which represents a premium of about 6.38 per cent over Chee Shing's closing price on March 28. Chee Shing's largest shareholder is Power Link, which owns 33.36 per cent of the group's issued share capital. Power Link is, in turn, 60 per cent-owned by Bofield Holdings and 40 per cent by Golik Metal Industrial Co.