Want Want Chairman wants investigation at ATV
Yesterday, Tsai Eng-meng, Chairman and CEO of Taiwan’s Want Want Holdings, applied to the High Court to have an independent investigator appointed to sit on ATV’s Board of Directors. He said that since ATV Chairman Wong Ching had taken charge at the station, the management of the station had gotten more and more disorderly and the station had appeared frequently in the media. Tsai’s company, Antenna, is one of the major shareholders of ATV. The judge allowed Tsai’s case, saying that Tsai had raised a serious question.
Leung didn’t respond to four letters from the Buildings Department
Yesterday, the Buildings Department released a statement saying that it had discovered in June 2012 that a brick wall at Chief Executive Leung Chun-ying’s residence was not located in the place that an external wall should be according to the building plan. The statement said that the department had attempted to contact Leung four times in writing to investigate the matter, but that Leung had not responded.
Yesterday, Leung offered an explanation of his failure to respond. He said that he had not replied because he did not think that responding was convenient at a time when he was the defendant of a lawsuit raised by Albert Ho, a losing candidate for the position of Chief Executive, over the validity of Leung’s win. However, Civic Party legislator Ronny Tong believes that Leung attempted to conceal information from the court. Tong said he thought that Leung was worried that he would lose the lawsuit if the court knew that he was aware that his property contained an illegal structure.
KC Chan says that there are too many MPF products
Yesterday, Secretary for Financial Services and the Treasury KC Chan said that Hong Kong currently has too many Mandatory Provident Fund (MPF) products and that those products are too complicated. He said that this situation does not protect the interests of savers. He also said that thinks that MPF products should be standardized and reduced in number so that consumers will understand what they are buying.