List of Directors and their Role and Function
The Board is responsible for the Groupˇ¦s corporate policy formulation, business strategies planning, business development, risk management, major acquisitions, disposals and capital transactions, and other significant operational and financial matters.
Major corporate matters that are specifically delegated by the Board to the management include the preparation of annual and interim accounts for Board approval before public reporting, execution of business strategies and initiatives adopted by the Board, implementation of adequate systems of internal controls and risk management procedures, and compliance with relevant statutory requirements and rules and regulations.
All executive Directors have given sufficient time and attention to the affairs of the Group and each of them has sufficient experience to hold the position so as to carry out his duties effectively and efficiently. There is no relationship among the members of the Board.
The Company appointed three independent non-executive Directors who have appropriate and sufficient experience and qualification to carry out their duties so as to protect the interests of shareholders of the Company. All of them have been appointed for a term of one year commencing from the date of their appointment or re-appointment
The members of the Board were:
Pong Wai San
Mr. Pong Wilson Wai San (ˇ§Mr. Pongˇ¨), has been appointed as the chairman of the
Company (theˇ¨Chairmanˇ¨) and an executive Director with effect from 17 May 2016.
Mr. Pong was a Director of the Company during the period from 23 March 2007 to
12 December 2011 and a consultant of the Group during the period from 12
December 2011 to 16 May 2016. Mr. Pong is also a director of various subsidiaries of
the Company. Mr. Pong is the sole director and sole shareholder of Virtue Partner
Group Limited, which is the substantial and controlling shareholder of the Company.
Mr. Pong is responsible for the overall strategic planning and investment strategy of
the Group. He holds a bachelor degree in Applied Science from the University of
British Columbia. He held various positions in a number of charity organizations in
Hong Kong and had held various senior management positions with various local and
international securities houses anda multinational company.
Lee Wing Yin
Mr. Lee Wing Yin (ˇ§Mr. Leeˇ¨), was appointed as the authorised representative and
company secretary of the Company (the ˇ§Company Secretaryˇ¨) on 23 March 2007,
an executive Director on 1 June 2010, chief executive officer of the Company (the
ˇ§CEOˇ¨) on 4 November 2011 and compliance officer of the Company on 12
December 2011. He is also a director of various subsidiaries and the associates of the
Company. He is responsible for provision of advice for overall management, strategic
development and supervision of the Group. Mr. Lee is an associate member of the
Hong Kong Institute of Certified Public Accountants and a fellow member of The
Association of Chartered Certified Accountants. He has over ten years of working
experience in auditing and business advisory services and had worked for
international accounting firms for six years. He held senior financial management
positions with various local companies before joining the Company. He was the
executive director of Chanco International Group Limited (Stock code: 264), which is
currently known as Ascent International Holdings Limited, a company whose shares
are listed on the Main Board of the Stock Exchange, during the period from 21
September 2015 to 23 December 2015.
Lai Hin Wing, Henry
Mr. Lai Hin Wing Henry (ˇ§Mr. Laiˇ¨), was appointed as an independent non-executive
Director on 23 March 2007 and re-designated as a non-executive Director on 12
December 2011. Mr. Lai is a partner, co-chairman of Messrs. P. C. Woo & Co., a firm
of solicitors and notaries in Hong Kong, and has been practicing in the legal field for
more than thirty years. Graduated from The University of Hong Kong with a bachelor
of law degree, Mr. Lai was admitted as a solicitor in Hong Kong, England and Wales
and the State of Victoria, Australia. Mr. Lai is a Notary Public and a China Appointed
Attesting Officer in Hong Kong. He was an independent non-executive director of
Birmingham International Holdings Limited (Stock code: 2309), a company whose
shares are listed on the Main Board of the Stock Exchange, from the period from 9
March 2015 to 15 October 2016.
Independent Non-executive Directors
Koo Fook Sun, Louis
Mr. Koo Fook Sun Louis (ˇ§Mr. Kooˇ¨), was appointed as an independent non-executive
Director on 23 March 2007. He is also the chairman of the audit committee and a
member of the remuneration committee and nomination committee of the
Company. Mr. Koo is the founder and the managing director of Hercules Capital
Limited, a corporate finance advisory firm. Mr. Koo has many years of experience in
investment banking and professional accounting. He was a managing director and
head of the corporate finance department of a major international bank. Mr. Koo
graduated with a bachelorˇ¦s degree in business administration from the University of
California at Berkeley and is a member of the Hong Kong Institute of Certified Public
Accountants (the ˇ§HKICPAˇ¨). He currently serves as an independent non-executive
director of another three companies whose shares are listed on the Main Board of
the Stock Exchange, namely Good Friend International Holdings Inc. (Stock code:
2398), Li Ning Company Limited (Stock code: 2331) and Xingda International
Holdings Limited (Stock code: 1899). He was an independent non-executive director
of Midland Holdings Limited (Stock code: 1200), a company whose shares are listed
on the Main Board of the Stock Exchange, during the period from 24 September
2004 to 28 June 2017.
Lung Hung Cheuk
Mr. Lung Hung Cheuk (ˇ§Mr. Lungˇ¨), was appointed as an independent non-executive
Director on 23 March 2007. He is also the chairman of the remuneration committee,
a member of the nomination committee and audit committee of the Company. Mr.
Lung is a retired chief superintendent of the Hong Kong Police Force (theˇ¨Hong Kong
Policeˇ¨) of Hong Kong. He joined the Hong Kong Police in 1966 as a Probationary
Inspector at the age of 19. He was promoted to the rank of chief inspector in 1980,
superintendent in 1986, senior superintendent in 1993 and chief superintendent in
1997. He had served in various police posts, namely Special Branch, Police Tactical
Unit, Police Public Relations Bureau and in a number of police divisions at
management level. Prior to his retirement in April 2002, he was the commander of
Sham Shui Po Police District. Mr. Lung was also the secretary and then the chairman
of the Superintendentsˇ¦ Association (ˇ§SPAˇ¨) of the Hong Kong Police from 1993 to
2001. The membership of the SPA comprises the top management of the Hong Kong
Police from superintendents up to and including the commissioner of Hong Kong
Police. He was awarded the Police Meritorious Service Medal by the Chief Executive
of Hong Kong in 2000. Mr. Lung is the independent non-executive director of Sitoy
Group Holdings Limited (Stock code: 1023). He was the independent non-executive
director of Chanco International Group Limited (Stock code: 264), which is currently
known as Ascent International Holdings Limited, during the period from 21
September 2015 to 23 December 2015. The shares of these 2 companies are listed
on the Main Board of the Stock Exchange.
Yeung Wing Yan, Wendy
Ms. Yeung Wing Yan Wendy (ˇ§Ms. Yeungˇ¨), was appointed as an independent non-
executive Director on 12 December 2011. She is also the chairwoman of the
nomination committee, a member of the audit committee and remuneration
committee of the Company. She holds a masterˇ¦s degree in laws (Human Rights) of
the Faculty of Law from the University of Hong Kong, a masterˇ¦s degree in Juris
Doctor of the Faculty of Law from the Chinese University of Hong Kong and a
bachelorˇ¦s degree in Business Administration from the University of Hawaii at
Manoa, Honolulu, Hawaii. Ms. Yeung is a practising barrister in Hong Kong. She has
over 20 years of experience in corporate and financial communications. Ms. Yeung
was the founder and managing director of Occasions Corporate & Financial
Communication Limited from 1993 to 2007 and a managing director of Financial
Dynamics International Limited from 2007 to 2010.
There are 3 Board committees. The table below provides membership information of these committees on which each Board member serves.
C---- Chairman of the relevant Board committees
M---- Member of the relevant Board committees