"Relationship between SHKIS, Sun Hung Kai & Co. Limited, FKP Limited, the Lee Family and Mulpha International Bhd
SHKIS has advised the Company that it and FKP Limited, a member of the FKP Property Group, are not ‘associates’ for the purposes of section 12 of the Corporations Act 2001 (Cth). However, the Company notes that SHKIS is a wholly owned subsidiary of Sun Hung Kai & Co. Limited (“SHK”) and SHK and FKP Limited have the same executive chairman. SHK is controlled by the executive chairman (and certain members of his family members (“Lee Family Members”), and the executive chairman and different Lee family members (Mulpha Lee Family Members) have indirect shareholdings of approximately 35.8% in FKP’s largest shareholder, Mulpha International Bhd (“Mulpha”). The Company considers that there is a possibility that the executive chairman and the relevant Mulpha Lee Family Members control Mulpha, which if so would result in the law deeming them to have the same relevant interests in the Company as FKP. Given the executive chairman and the Lee Family Members’ control of SHKIS and SHK, the Company considers those persons and companies may have a relationship akin to association, although they may not be associates for the purposes of section 12 of the Act..."
FKP Price at posting:
$1.54 Sentiment: None Disclosure: Not Held
