Former government stalwart Frederick Ma may join Convoy as shareholder seeks board revamp to end scandal
- Convoy is facing a delisting from the stock exchange as it has not issued financial statements for several years, Frederick Ma says in Post interview
- Ma, 68, former secretary for financial services and the treasury, introduced the Financial Reporting Council during his government term
Kwok Hiu-kwan, who owns a 29.91 per cent stake in the financial services group, has requisitioned for a shareholders’ meeting to remove the entire 12 board members, according to a September 28 notice to the company seen by the Post.
The 29-year-old son of developer Kaisa Group’s founder Kwok Ying-shing has proposed six candidates as replacements, including lawmaker Abraham Shek, according to the notice. Ma was the city’s former secretary for financial services and treasury from July 2002 to June 2007.
“Convoy is facing delisting from the Hong Kong stock exchange as it has not issued financial statements for several years,” Ma, 68, said in an interview with the Post. “If the shareholders vote for my appointment, I will like to spend my effort to help improve the transparency and governance of the company.”
Convoy has received the requisition notice and is studying the request, a company spokesman said when contacted by phone.
