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The Political Appointees - Damage Control; Gymnast Olga Korbut in Hong Kong; Investors' Beware - the Launch of a "Professional Board" (27 Jun 2008)


The day before we went to air the Legislative Council had a surprise guest. Chief Executive, Donald Tsang was there, calling for an end to the controversy over the recruitment of 17 political appointees. His appearance came before legislators discussed a motion from the Democratic Party's Lee Wing-tat to invoke the Powers and Privileges Ordinance to obtain more information about the appointments. The motion didn't pass, but did the Chief Executive's tactic calm the controversy, or stir it up> With us in the studio to discuss this is Chris Yeung, Editor-at-Large of the South China Morning Post. In Hong Kong this week, and perhaps giving us a foretaste of Olympic excitement, is Russian gymnast Olga Korbut and three of her prize students. Korbut now lives and teaches in the USA, but she was here to demonstrate her students' skills, and to meet Hong Kong gymnasts. A consultation exercise is to be launched into plans to create a so-called professional board on the Hong Kong stock exchange. It would have fewer disclosure requirements than the main board and be exclusively reserved for "professional" investors' trading. The aim is to widen the scope of the local stock exchange and to provide new ways of raising capital - albeit with greater risk. The plan has proved to be controversial, and been accused of lowering standards, and with us in the studio to look at this controversy is Francis Lun of Fulbright Securities and David Webb, until recently a member of the stock exchange board who has now resigned citing a number of concerns, including this proposal.

The Pulse
Publish Date: 
Friday, June 27, 2008
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