Teresa Cheng Mum On Link To Husband's New Firm

The Secretary for Justice Teresa Cheng has stated that she sees no need to declare her shareholding in a recently-listed company owned by her husband Otto Poon.

Reports have speculated that her stake is worth about HK$1.1 billion in engineering firm Analogue, shares of which began trading on the Hong Kong stock exchange earlier this month.

Her office said on Tuesday that she does not have the right to receive benefits of the shareholding such as dividend, and she's not entitled to any shareholders' rights, therefore the secretary believes it's not necessary to declare her stake.

Details of Cheng’s holdings were uploaded on the local exchange website on Monday.

According to the firm's listing document, Otto Poon, through The Otto Poon Family Trust, will hold approximately 63.48% of the voting rights in the company.

He founded the firm in 1977. On the company's website, it says Poon has acted as chairman since July 2010, and is a director of all subsidiaries of the company.

Analogue shares began trading on the Hong Kong stock exchange on July 12, after raising HK$420 million from the initial public offering.

The shares soared on debut, rising as much as 42 percent from an offer price of HK$1.20 on their first trading day. The shares had come down since then, and ended the trading at HK$1.25 on Tuesday, up 5 percent from the previous day's close.

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