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In response to media enquiries on the declaration of interests by the Chief Executive, the spokesman of the Chief Executive's Office responded today (August 11) as follows:
"The Chief Executive, Mr C Y Leung, had relinquished all his executive duties in the DTZ when he took part in the Chief Executive election. His 7,227,838 shares of DTZ Holdings Plc and its subsidiaries, as shown in the declaration of interests, are only minority shareholding which does not carry any decision-making or executive power.
"The Chief Executive holds 99.9% shareholding of Wintrack Worldwide Ltd (BVI) and its subsidiaries. These companies are solely for holding the shares of a foreign branch of DTZ. Wintrack Worldwide Ltd (BVI) and its subsidiaries do not carry out any business operation.
"During the election campaign, Mr Leung had undertaken to transfer the shares of DTZ Holdings Plc and its subsidiaries to a trust when he became the Chief Executive. The relevant work is now in progress. However, it takes time to set up the trust since this involves the overseas companies of DTZ, as well as foreign legal procedures.
"As for Lotvest Ltd in respect of which the Chief Executive holds 50% shareholding and serves as a director, that company is solely for holding Mr Leung's self-occupied property as well as a leased-out property in Hong Kong. It does not carry out any business operation.
"The Executive Council has an established mechanism for handling potential conflict of interest and the details are set out in the "System of Declaration of Interests by Members of the Executive Council" (www.ceo.gov.hk/exco/pdf/Note_e.pdf)."
Ends/Saturday, August 11, 2012
Issued at HKT 23:54
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