Shareholders of Landing International Development Ltd have voted out two directors at the company’s annual general meeting, with Thomas Fok Ho Yin and Wong Chun Hung subsequently retiring from the board.
But Chairman Dr Yang Zhihui, who went missing for three months last year after reportedly being detained by authorities in Cambodia, narrowly avoided a similar fate with 60.14% voting in favor of his re-election.
Dr Yang, the 50.48% majority shareholder in Landing, turned up suddenly in November amid rumors he had been taken back to China in relation to his business links to China’s state-owned Huarong International Financial Holdings Ltd, whose former head was being investigated in a graft probe.
“Mr Yang explained that he has been assisting the relevant department of the People’s Republic of China with its investigation during the period of his absence,” Landing said upon his return.
The departure from the board this week of Fok, who garnered 48.13% of votes, and Wong who received 49.93%, leaves the company with just one independent non-executive director.
Landing operates Korean IR Jeju Shinhwa World on Jeju Island.
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