UBA Investments Reassures Investors Following Chairman's Censure for Past Breaches

MT Newswires Live2024-12-11

UBA Investments (HKG:0768) reassured its investors after Chairman Wong Yun Kuen was censured for rule breaches during his tenure at Kaisun Holdings (HKG:8203).

In a disciplinary action announcement dated Dec. 10, the Hong Kong Exchange said it censured Kaisun and several directors, including Wong, for failing to disclose certain significant financial assistance transactions and acquisitions of listed securities between 2015 and 2020.

In a filing on Wednesday, UBA stated that its board reviewed the regulatory announcement and determined that Wong is still fit to serve as an executive director, citing his lack of involvement in the operations that led to the breaches and his commitment to further compliance training.

The securities investor emphasized that the issues outlined in the regulatory announcement "do not involve any dishonesty, fraud, or integrity issues on the part of Dr. Wong."

UBA also clarified that the matter at hand is unrelated to its operations.

Price (HKD): $0.03, Change: $-0.0020, Percent Change: -6.06%

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