Beijing Enterprises : Director Wu Jiesi Fined for Late Filing Due to Oversight
07/08/2012| 09:02pm US/Eastern
By Chester Yung
HONG KONG--Hong Kong-listed conglomerate Beijing Enterprises Holdings Ltd.(0392.HK) said Sunday its independent non-executive director Wu Jiesi was fined for filing disclosures of interest late to the Hong Kong stock exchange, an event the company said was caused by "inadvertent oversight."
Beijing Enterprises said in a statement Mr. Wu was tried at the city's magistrates' court Thursday for the late filing of disclosures of his interests in certain share transactions that took place between March 4 and March 10 last year.
Mr. Wu was fined a total of 12,000 Hong Kong dollars ($1,548) and ordered to pay another HK$20,260 in investigation costs to Hong Kong's Securities and Futures Commission, the company said in the statement.
Beijing Enterprises said Mr. Wu would continue as an independent non-executive director of the company.
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