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Statement by Director of Audit

     In response to a report in Next magazine today (January 27) on Eric Hotung's family trust, the Director of Audit, Mr David Sun, made the following statement:

     Mr Sun was a partner of Ernst & Young from 1986 to 2010 and was chairman of the firm from 2006 to 2010.  During this period, Mr Sun took up the post of director of various companies of Ernst & Young, including Hillhead Ltd, a trustee of the Eric Hotung's family trust.

     The report on Mr Sun's involvement in the business of Eric Hotung's family trust is factually incorrect.  Mr Sun has never been a trustee of Eric Hotung's family trust, and has never provided any professional services to the trust.  He resigned from all his positions with Ernst & Young when he retired in 2010.

Ends/Monday, January 27, 2014
Issued at HKT 18:46


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