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Letters

However strong the legal position may be on withholding shareholder dividends, HSBC’s top management must feel guilty about ill-treating members of Hong Kong’s innocent investing public who have been so supportive of a bank they fondly call “Hongkong Bank”.
While activist David Webb is right in advising against bringing lawsuits against HSBC, that would still seem to be the best way of holding to account top management who bowed to the British regulators, especially by veteran shareholders who are full of nostalgia for the good old days when Williams Purves was chairman (“ Rebel HSBC shareholders win labour union’s support ”, April 8).
Besides, it is hoped HSBC will demonstrate that it is still a public company, not one which has turned its back on – and uncompromisingly executed a hostile decision against – innocent, supportive shareholders.
Finally, in all honesty, it is not worth any more valuable time of the top management to debate whether the bank should be domiciled in Hong Kong once again. That would be missing the point.
Mike Cheung, Mid-Levels


Carrie Lam didn’t elect herself to position of city chief
It is hard to find supporters of Hong Kong’s chief executive these days. There are many epithets out there for Mrs Carrie Lam Cheng Yuet-ngor: “arrogant”, “unsympathetic”, “dogmatic”, “obstinate”, “ambitious”, and many more that are less polite.
But in the midst of recriminations, it should also be remembered that the chief executive was selected by worthies who notionally represent (some of) us: namely, the 777 members of the Election Committee who voted for her in 2017. Did they know who she was then? Did they imagine a leopard could change its spots?
These electors should not be forgotten: they bear a certain responsibility, even though they are not accountable to most of us.
They know who they are – but do we?
Ian Howard, Wan Chai
  


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HSBC

HSBC must prove it has not turned its back on trusting shareholders

Small investors protest outside the HSBC headquarters in Hong Kong’s Central district on April 8. HSBC was among big banks that cancelled dividend payouts and suspended buy-backs on April 1 after a request from UK regulators in light of the coronavirus pandemic. Photo: Dickson Lee

Dividend now or a stronger stock later? HSBC shareholders should decide

Would HSBC shareholders rather have the dividend and risk the share price going into free fall? Photo: Nora Tam

HSBC small investors protests at HSBC headquarters, Central. 08APR20 SCMP / Dickson Lee

HSBC boss Noel Quinn writes letter to reassure Hong Kong shareholders after sharp three-day drop in stock price

The bank has said it would review whether to restart its dividend later in the year after the economic effects of the coronavirus pandemic are better understood. Photo: Sam Tsang

Noel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFP

As coronavirus makes Hong Kong practise social distancing, a chance for Carrie Lam and the opposition to close the gap

Chief Executive Carrie Lam Cheng Yuet-ngor (left) and Secretary for Food and Health Sophia Chan Siu-chee meet the press at the government headquarters in Admiralty on March 27. Photo: K.Y. Cheng

HSBC, Standard Chartered bosses forego bonuses in mea culpa to calm rebel shareholders in dividend fight

Letters | HSBC must prove it has not turned its back on trusting shareholders