Profiles in kowtowing: why Hongkong's leading lawyer couldn't find a lawyer

Article Abstract:

A defamation suit between a supporter and two opponents of China's government illustrates the dangers to the rule of law after Hongkong reverts to Chinese rule in 1997. Martin Lee and Szeto Wah, two Hongkong legislative counsellors, are suing Simon Li, vice-chairman of China's Preparatory Committee Working Group, for stating that the two should be removed as legislators for urging runs on Chinese banks as a retaliation for the 1989 Tiananmen Square massacre. The shameful unwillingness of Hongkong's most prominent law firms to represent Lee and Szeto betrays a cowardly refusal to stand up for the rule of law.

Editorial, Libel and slander, Political aspects, Hong Kong-China reunification question, Lee, Martin, Szeto Wah, Li, Simon

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Stick to knitting: venerable Hongkong trading house relists

Article Abstract:

A leaner Li and Fung Ltd. has re-listed in the Hongkong stockmarket as a pure export-trading company. The company was de-listed in 1989 to allow family members to liquidate their holdings. At that time, Li and Fung was into real estate, insurance, shipping and retailing. The de-listing was a chance for the old company to concentrate on export-trading, its greatest strength, by getting rid of unrelated business. For 1992, the company expects a 44% jump in net profits to HK$125 million for a respectable price-earnings (p/e) ratio of 8 as compared to the 12.5 p/e average on the Stock Exchange of Hongkong.

Analysis, Securities, Going public (Securities), Initial public offerings, Export trading companies, Li and Fung Ltd.

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Fraud and cover-up: Carrian returns to haunt Hongkong and Malaysia

Article Abstract:

A Malaysian banker involved in the Carrian Group case charges that the Hongkong government is withholding papers that will help his case in fighting extradition from London to Hongkong. Former Bumiputra Malaysia Finance (BMFL) Chmn Lorrain Osman claims that documents written by an auditor sent to investigate BMFL are being kept by Hongkong authorities in order to prevent embarrassment to the Hongkong government and to certain Malaysian officials.

Hong Kong, Crime, Fraud investigation, Bank loans

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