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2002-10-31 11:26:00 a.m. HKT, XFNA
HKEx to issue consultative paper in Q1 on role of underwriters/auditors
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HONG KONG (AFX-ASIA) - The Hong Kong Exchanges and Clearing Ltd said it
will issue a consultative paper on the role of underwriters and auditors in
the first quarter following the Euro-Asia Agricultural (Holdings) Co Ltd (932.
HK) scandal.
""We are going to issue a consultation paper in the first quarter
regarding the role of underwriters and auditors during the listing exercise,""
chief executive Kwong Ki-chi told reporters.
Euro-Asia is facing financial and management problems after experiencing
difficulties accessing the accounts of major operating unit Shenyang
Euro-Asia Agriculture Development Co Ltd.
The company announced that its auditors, PricewaterhouseCoopers, and
financial adviser and acting chairman, Jacob Lekkerkerk, have resigned.
The company's former chairman Yang Bin is reported to be under
""surveillance residence"" or house arrest.
susanna.tai@afxnews.com
st/ra/zr
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