Hong Kong Business News

The trustee of the charitable trust for the estate of the late Nina Wang has formed its board of governors, with five independent individuals and two government officials being appointed, the Department of Justice announced today.

The members of the board of governors are Annie Tam, Rimsky Yuen, Clement Chan, Ronick Chan, Lam Ching-choi, Secretary for Financial Services & the Treasury Christopher Hui and Secretary for Home & Youth Affairs Alice Mak.

The department said that under the supervision of the supervisory managing organisation (SMO), the board of governors will promptly commence preparatory work for administering the trust. This includes preparing for and fleshing out the details of a “fund and a Chinese prize of worldwide significance similar to that of the Nobel Prize” and other charitable projects.

The trustee will in due course disclose the scheme of administration for the late Mrs Wang’s estate and other related information pursuant to the terms of the scheme and its Articles of Association.

The department said it will continue to follow up on outstanding legal proceedings and related arrangements until the estate is fully vested in the trustee from the interim administrators.

The trustee of the trust’s charitable estate is Nina Wang Charity Management. The three members of the SMO responsible for supervising the trustee’s operations are Rita Fan, Joseph Yam and Cheng Yan-kee.