Chinachem Group takes a different stance to most. We place our contribution to the community and environment together with our profitability. This is further strengthened by our unique ownership structure – whilst our group of companies are presently held by Court appointed administrators, they ultimately will sit within a charitable trust containing assets bequeathed to it by the late Nina Wang, once Chinachem Group's Chairwoman.
The Hong Kong Court has determined that a scheme be established for the administration of the charitable trust in furtherance of Nina Wang’s will. An application by the Secretary of Justice (as the protector of charities in Hong Kong) pertaining the implementation of the scheme has already been approved by the Court. Implementation of the scheme will be subject to certain terms and conditions, further details will be announced at an appropriate time.
Currently, two representatives from PricewaterhouseCoopers Limited (PwC) act as court appointed administrators, protecting and preserving the assets of the estate.
Safeguarding our legacy
Chinachem Group
Corporate Governance
The preservation and enhancement of the legacy that we operate are of the utmost importance to the Group. Therefore, we take corporate governance very seriously.
The Group is overseen by the Board of Directors of Chinachem Group Holdings Limited (the “Board”), which comprises the following:
Executive Directors: Donald Choi, Wong Hung Han, and Ricky Tsang
Non-Executive Directors: Alvin Wong, Victor Jong and Ted Osborn
Independent Non-Executive Directors: Andy Cheung and Peter Brien
Sitting on the Board as CEO is Donald Choi. He has worked globally as an architect and developer for more than 40 years and believes passionately in the power of design to empower society. Donald is also the Board Chairman of Pine Care Group Limited, a subsidiary of the Group. Very active across a number of community, professional, and academic areas, he is, among other roles, Chairperson of the Construction Innovation and Technology Application Centre, and a board member of the Hong Kong Green Building Council, Business Environment Council, Hong Kong Design Centre, and Habitat for Humanity Hong Kong. Additionally, he serves as an Adjunct Professor at the University of Hong Kong, Trustee of the Rhode Island School of Design, and advisory committee member at the Hong Kong Polytechnic University and the Chinese University of Hong Kong, etc.
The following chart shows the Group's current corporate governance structure. The Group is committed to maintaining the highest standards of openness, integrity, and accountability, encouraging and providing support to employees to report any suspected misconduct, malpractice, and irregularity within the Group.
Should anyone, internal or external, suspect misconduct, malpractice, or irregularity within the Group, they should contact the Audit and Risk Committee at auditcommitee@chinachemgroup.com.
