New Appointments Made to Financial Reporting Review Panel for Enhanced Corporate Governance in Hong Kong

Appointments to Financial Reporting Review Panel

The Financial Secretary has, under the authority delegated by the Chief Executive, appointed three new Convenors and seven new members to the Financial Reporting Review Panel (FRRP) and reappointed one incumbent member for a term of three years from July 16, 2025, to July 15, 2028.

The appointments and reappointments, made in accordance with the Accounting and Financial Reporting Council Ordinance (Cap. 588) (AFRC Ordinance), are:

New Convenors

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Mr Paul Donald Hebditch

Mr Eric Tang Ying-cheung

Mr Tang Yiu-chung

New Members

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Ms Fanny Hsiang Yuet-ming

Mr Alexander Kaung Wai-ming

Mr Lam Chi-ki

Ms Carrie Lau Kar-yee

Mr Jason Li Jiasheng

Mr Ng Chun-man

Ms Elza Yuen Wai-yiu

Reappointed Member

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Mr Jacob Lee Chi-hin

A spokesman for the Financial Services and the Treasury Bureau today (July 11) said, "The Accounting and Financial Reporting Council (AFRC) is a key regulator for corporate governance of companies listed in Hong Kong. One of the statutory functions of the AFRC is to initiate enquiries concerning non-compliance with legal, accounting or regulatory requirements in a listed entity's financial reports.

"The FRRP, a statutory body established under the AFRC Ordinance, is indispensable to the discharge of the AFRC's statutory functions of enquiries. The work of the FRRP will benefit from the rich experience and professional knowledge of the members.

"We would like to take this opportunity to express our heartfelt appreciation to the two outgoing Convenors and nine outgoing members for their valuable contribution to the work of the FRRP in the past years," the spokesman added.

When an enquiry case arises, the AFRC may appoint one Convenor and four or more members from the FRRP to form a Financial Reporting Review Committee which will enquire into the relevant non-compliance of the case. The Committee will submit an enquiry report on the case to the AFRC for consideration and, where appropriate, follow-up action.

Hong Kong Customs detect a drug trafficking case involving incoming passenger at airport

Hong Kong Customs detected a drug trafficking case involving an incoming passenger at Hong Kong International Airport today (April 4) and seized about 4.4 kilograms of suspected heroin with an estimated market value of about $2.9 million.

A 20-year-old male passenger arrived in Hong Kong from Penang, Malaysia, today. During Customs clearance, Customs officers found about 4.4kg of suspected heroin inside his carry-on baggage. The man was subsequently arrested.

The arrested man has been charged with one count of trafficking in a dangerous drug. The case will bebrought up at the Eastern Magistrates' Courts on April 6.

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs detect a drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases

Hong Kong Customs detect a drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases