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Lai Sun ex-auditor joins group

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LAI Sun Garment (International) appointed its auditor to the board of one of its listed subsidiaries just six days after shareholders were asked to approve his firm as auditor at an annual general meeting, according to company documents.

The annual report of Crocodile Garments, issued this week, records that on December 29, 1993, accountant Edward Wan Yee-hwa was appointed a director of Crocodile.

Mr Wan's company, Edward Wan and Co, has long audited the accounts of Lai Sun Garment, the holding company of property developer and garment manufacturer Lai Sun Group, that owns about 55 per cent of Crocodile's shares.

The notification of Lai Sun Garment's 1993 annual general meeting records that Edward Wan and Co was proposed for re-election as auditor by the board.

That meeting was held on December 23 last year, Edward Wan and Co having signed the previous year's audit report on November 5.

At some point during the company's financial year, Edward Wan and Co resigned as Lai Sun Garment's auditor.

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