Chevalier International Holdings (00025.HK), which is involved in several activities including construction and engineering, said its chairman Chow Yei-ching is unable to perform his duties temporarily due to health issues.
Given the situation, the company has appointed Kwok Hoi-sang as co-chairman, it said.
Chevalier stressed that its operations will not be impacted by the chairman’s absence, the Hong Kong Economic Journal reported.
On Tuesday, the company’s share price fell 1.55 percent to close at HK$12.70.
Chairman Chow, who is now 80 years old, had earlier faced heat from the Securities and Futures Commission for alleged breach of some rules.
Chow was accused of violating the city’s takeover code in relation to some holdings in ENM Holdings (00128.HK) for his late friend Nina Wang, the former chairperson of Chinachem Group.
Chow was banned from participating in the stock market for 10 years.
The businessman founded Chevalier Group in 1970.
Starting off with elevators and escalators-related business, the group later moved into securities investment, property leasing, property management and hospitality services, among other things.
- Contact us at [email protected]