More AWOL China bosses flag unique key-man risks

Shin Hwa World

24/08/2018 09:01

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
    HONG KONG, Aug 24 (Reuters Breakingviews) - Casino operator
Landing has lost half its market value amid news that its
chairman is unreachable. It’s the second such case in three
days. Overdependence on top executives continues to plague many
Chinese companies, and they’re exposed to hazards uncommon in
other markets. 
    
    Full view will be published shortly.
    On Twitter https://twitter.com/KatrinaHamlin
    
    CONTEXT NEWS
    - Hong Kong-listed casino operator Landing International
Development said it had lost contact with its chairman since
Aug. 23. The company’s shares were down 47 percent at midday
(GMT 0400) on Aug. 24 from where they were trading at the market
close on Aug. 22.
    - In a statement to the Hong Kong stock exchange, Landing
said it had been "unable to contact or reach" Chairman Yang
Zhihui. 
    - Separately, Shenzhen-listed Steyr Motors said on Aug. 21
that it was unable to reach its chairman, Li Xiaozhen. Its
shares have fallen 17 percent since the close of business on
Aug. 20.
    - For previous columns by the author, Reuters customers can
click on  HAMLIN/  
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    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
BREAKINGVIEWS - Hong Kong death offers humbling reminder to CEOs
    urn:newsml:reuters.com:*:nL3N1VC1OA
Reuters: HK-listed casino firm Landing's shares dive after
saying chairman not contactable     urn:newsml:reuters.com:*:nH9N1MG00C
Landing International filing    http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0823/LTN20180823552.pdf
Steyr filing     http://disclosure.szse.cn/finalpage/2018-08-21/1205307764.PDF
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Jeffrey Goldfarb and Sharon Lam)
 ((katrina.hamlin@thomsonreuters.com; Reuters Messaging:
katrina.hamlin.thomsonreuters.com@reuters.net))