[Ming Pao News] The International League of Investigative Journalists (ICIJ) recently announced the investigation report on “Pandora Papers”. A participating online media “Stance News” quoted a leaked document report yesterday that Liang Zhenying (pictured) used two offshore companies to hold 30% of the shares in DTZ’s Japanese business company through two offshore companies and sold the shares for about 2.3 million yuan, questioning him whether he did not declare. Liang Zhenying denounced that the report was misleading and retorted that the system only requires the declaration of the company’s equity directly held, and there is no need to declare the equity holdings and changes in subsidiaries at all levels. The company’s equity directly held in the year has been declared, and the equity is placed in the trust voluntarily and not exercised. Decision-making power of shareholders. Barrister Cha Xi, I believe that officials should declare whether they hold or sell equity in a company directly or in a roundabout way. He believes that there are loopholes in the declaration system and the government should improve it.
Sale of 30% equity of Dade Liangxing Japanese company for 2.3 million
Position News quoted leaked documents stating that Liang Zhenying holds 99.9% equity The offshore company Wintrack Worldwide Ltd., wholly owns the offshore company Ace Link Property, and Ace Link Property holds 30% of the equity of EuroAsia Properties, the Japanese business company of DTZ. The report quoted the equity transfer letter showing that Ace Link Property sold 30% of the equity to DTZ International Limited for 200,000 pounds (approximately 2.3 million yuan) in December 2015, when the ICAC was investigating the Liang Zhenying UGL incident. After reviewing the guild’s declaration of interest, Liang did not report holding and selling the relevant equity.
Liang: Equity grant trust does not exercise shareholder decision-making power
Liang Zhenying was on facebook yesterday The response stated that the Hong Kong government system requires the declaration of directly held company equity, and there is no need to declare the equity holdings and changes of the subsidiaries at all levels below. He declared the company’s equity directly held that year and actively put all equity in the company outside of the system requirements. Trusts managed by professionals do not exercise shareholder decision-making power, including Japanese companies.
Liang was still a director when he took office: resignation may not take effect immediately
The report pointed out After Liang Zhenying took office as Chief Executive, the first declaration of interests filed on August 3, 2012 did not mention serving as a director of a private company, but he was still a director of EuroAsia Properties at that time. On August 10 of the same year, the government announced the declaration of interests, and he resigned on the same day. Serving as a director. Liang explained yesterday that the laws and contract procedures for resigning directors in various companies are different, and the law may not take effect immediately. He has initiated all resignation procedures before taking office as chief executive. He criticized the reports of the position news for hype and misleading elements, and the lawyer will send a letter to hold him accountable.
Cha Xi, former chief investigator and barrister of the ICAC. I believe that officials should declare their interests regardless of actual, potential or public perception of conflicts of interest with public office. , “To be whiter than paper.” Regarding Liang Zhenying’s claim that there is no need to declare the equity holdings and changes in subsidiaries at all levels, he believes that it is a loophole in the declaration system, and officials should be open and honest regardless of whether they directly or circuitously hold or sell equity in a company. Regarding Liang’s claim that the resignation procedure was initiated before he took office, it may not take effect immediately. Chaxi said that I cannot confirm his statement. Expect a gap.
“Pandora Documents” Reveal the Hidden Assets of Political Officials
Pandora Documents The investigation report revealed that a number of politicians and heads of state had hidden assets in overseas “tax havens”, involving more than 600 journalists from 150 institutions, and disclosing approximately 11.9 million documents from 14 financial service companies.
Related words: International League of Investigative Journalists (ICIJ ) Pandora File Chief Executive Liang Zhenying
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