COMPANY INFORMATION

Listed Date 24 Oct 2001

Address 8th Floor,
St. John's Building,
33 Garden Road,
Central, Hong Kong

Telephone (852) 3691 9988

Facsimile (852) 3691 8282

  • Hang Seng Index
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  • 246.99 (0.91%)
HSCI 10,954.9 203.4
HKSPLC25 35,119.5 0.0
HKSPGEM 269.0 0.0
HSCEI 10,954.9 203.4
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H-FIN 17,670.5 362.6
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2016 (ESG)
2016 (AR)
2016 (IR)
2015 (AR)
2015 (IR)

The principal activities of China LNG Group Limited are investment in and trading of assets and engaged in the development of new energy businesses, including investment, construction and operation of liquefied natural gas (“LNG”) filling stations and terminal and related infrastructure, sales and conversion of LNG vehicles and ships, provide financial leasing services to the customers.

Business Review and Financial Review
During the Period, turnover of the Group recorded approximately HK$339 million, as compared to a loss of approximately HK$7 million in the corresponding period in 2013. The significant increase in turnover was primarily attributable to the realised and unrealised gain on held for trading investments. During the Period, the Group purchased 152,050,000 shares and convertible bonds (the “Convertible Bonds”) in the principal amounts of HK$80,000,000 of Warderly at a consideration of HK$87,602,500 from Mr. Kan. Shortly afterwards, the Group entered into a conditional transfer deed dated 21 June 2014 in relation to disposal of the Convertible Bonds for a cash consideration of HK$380,000,000 and disposed of 58,000,000 shares of Warderly to the market. Together with the realised and unrealised gain on trading of listed securities, the realised and unrealised gain on held for trading investments was HK$338 million during the Period while the unrealised loss on held for trading investments was HK$13 million for the previous corresponding period.

For the segment of properties investment, the Group holds three residential properties located in Kwu Tung, Central Mid-levels and Repulse Bay. Same as the previous corresponding period, only the residential property located in Central Mid-levels derived rental income of HK$70,000 per month while the other two residential properties located in Kwu Tung and Repulse Bay remain vacant. The Group continues to seek for tenants of the vacant properties for rental income purpose.

Besides the existing businesses, since 2013, the Company has engaging great effort in negotiations with governments in various provinces in the People’s Republic of China (the “PRC”) and other parties in relation to the development of the liquefied natural gas (the “LNG”) businesses in the PRC. During the Period, the Company entered into 5 strategic cooperation framework agreements/letters of intent in relation to the development of the LNG businesses. On 27 March 2014, the Company entered into the strategic cooperation agreement with Ping An Securities Limited平安證券有限責任公司in relation to provision of integrated financial services for developing the LNG businesses in the PRC. On 31 March 2014, the Company entered into the letter of intent with CNOOC Yunnan Energy Corporation Limited中海油雲南能源有限公司and Yongping Business Bureau永平商務局commissioned by the People’s Government of Yongping County in relation to the possible cooperation in developing the LNG businesses in Yongping County, Yunnan Province in the PRC. On 22 April 2014, the Company entered into a strategic cooperation framework agreement with Administrative Committee of Suzhou Zhong Lu International Logistics Technology Park蘇州中鱸國際物流科技園管委會in relation to transformation of vessels, heavy vehicles and public vehicles from using fuel to LNG and construction of LNG refueling stations and docks in Pingwang, Suzhou, Jiangsu Province in the PRC. On 25 June 2014 and 26 June 2014, the Company entered into strategic cooperation framework agreements with Jiangsu Nantong Binhai Park Management Committee江蘇南通濱海園區管理委員會and Nantong Economic & Technological Development Area Management Committee南通市經濟技術開發區管理委員會in relation to investment in the projects of application of LNG in Jiangsu Nantong Binhai Park江蘇南通濱海園區and Nantong Economic & Technological Development Area南通市經濟技術開發區respectively in Nantong City, Jiangsu Province in the PRC.

Prospects
China is one of the largest energy consumers worldwide. In order to control the haze pollution and improve air quality, natural gas will play a major role in sectors of large coal consumption in China in the immediate future. Besides the existing businesses, since 2013, the Company has putting effort in negotiations with many parties, including many government departments in various provinces in the PRC, a stated owned enterprise which engaged in exploration, development, production and sales of cude oil and natural gas and other petroleum products, manufacturers of the LNG vehicles, logistic companies and passengers transportation companies, in relation to development of the LNG businesses in the PRC. The Company plans to set up joint venture companies with the above stated owned enterprise for developing the LNG businesses.

Except the framework agreements/letters of intent mentioned in “Business Review and Financial Review”, on 28 July 2014, the Company entered into a strategic cooperation framework agreement with Shanghai Fargo Supply Chain Management (Group) Limited 上海遠行供應鏈管理(集團)有限公司, a subsidiary of Shaanxi Automobile Holding Group Company Limited陝西汽車控股集團有限公司, in relation to, among others, provision of LNG heavy trucks or replacement of LNG heavy trucks. On 29 July 2014, the Company entered into a strategic cooperation framework agreement with Xuzhou Construction Machinery Group Limited徐州工程機械集團有限公司in relation to purchase of LNG engineering machinery vehicles and cooperation to invest in the capital markets. On 4 August 2014, the Company entered into a strategic cooperation framework agreement with Xuzhou Transportation Bureau 徐州市交通運輸局 in relation to investment in the projects of application of LNG in Xuzhou City, Jiangsu Province in the PRC.


Mr. Keung Chi Lap - Company Secretary of the Company, CFO and Authorised Representative

Mr.  Keung holds  a  Bachelor  Degree  in  Accounting  and  Finance  from  the  University  of  Hong  Kong.  He  is  a  fellow member of the Association of Chartered Certified Accountants. He has extensive experience in financial management, auditing, taxation, and company secretarial matters.

Kan Che Kin, Billy Albert - Executive Director, the Chairman and the Chief Executive Officer

Mr. Kan, was appointed as an executive Director, the chairman and the chief executive officer of the Company in May 2013. Mr. Kan graduated from the University of East Anglia with a Bachelor of Science degree. Mr. Kan is an associate member of the Institu te of Chartered Accountants in England and Wales, the Hong Kong Institute of Certified Public Accountants and a fellow of the Hong Kong Securities Institute. Mr. Kan had worked with Deloitte Touche Tohmatsu and KPMG and is equipped with extensive experience in accounting, taxation and corporate finance. In addition, Mr. Kan has over 20 years of experience in serving on the board of directors of financial institutions and listed companies in Hong Kong, including Security Pacific Credit Hong Kong Limited (a subsidiary of Security Pacific National Bank, taken over by Bank of America then by China Construction Bank), Burlingame International Company Limited (now renamed as EverChina Int’l Holdings Company Limited) (stock code: 202) and Warderly International Holdings Limited (now renamed as Fullshare Holdings Limited) (stock code: 607). Mr. Kan resigned as a director of EverChina Int’l Holdings Company Limited in September 2000 and of Fullshare Holdings Limited in December 2013. Mr. Kan is also a director of several wholly-owned subsidiaries of the Company. Ms. Li Shu Han, Eleanor Stella is a niece of Mr. Kan, Mr. Li Kai Yien, Arthur Albert is a nephew of Mr. Kan.

Mr. Chen Li Bo - Executive Director and Deputy Chairman

Mr. Chen, graduated from China’s Northeastern University of Finance (formerly the Liaoning Institute of Finance), worked for the China Construction Bank over 15 years and was a vice president of the Pudong branch. Mr. Chen worked over 14 years for HKC (Holdings) Limited, whose predecessor is Kumagai Gumi (Hong Kong) Limited 熊谷組(香港)有限公司 and was their executive director, chief operating officer, deputy chairman and chief executive officer. Mr. Chen has served on the board of directors of two listed companies in Hong Kong, including HKC (Holdings) Limited (stock code: 190) and J.I.C. Technology Company Limited (now renamed as China Renewable Energy Investment Limited) (stock code: 987). He resigned as director of HKC (Holdings) Limited and China Renewable Energy Investment Limited in 2008. Mr. Chen has extensive experience in finance and corporate affairs in
China.

Mr. Chen is being appointed as a key executive taking charge of the development of the Company’s business in China together with our chief executive officer.

Li Kai Yien, Arthur Albert - Executive Director

Mr. Li, joined the Board on 10 October 2007 and is an executive Director. Mr. Li graduated from University of Southern California with a Bachelor of Science degree in 1995. Mr. Li has been a Certified Public Accountant since 2001 and has more than 10 years’ experience in accounting and securities dealing. Mr. Li is currently a dealer representative of Phillip Securities (HK) Ltd. Mr. Li is a nephew of Mr. Kan and brother of Ms. Li.

Simon Murray - Non-Executive Director

Mr. Simon Murray, has been awarded the CBE (Commander of the British Empire) by H.M. The Queen, and the Order of Merit of the French Republic and is a “Chevalier de La Legion d’Honneur”. He holds an Honorary Degree in law, from Bath University and attended the (SEP) Stanford Executive Programme in the United States.

Mr. Murray is currently the chairman of General Enterprise Management Services (International) Limited (GEMS Ltd.), a private equity fund management company. He is a non-executive director of Greenheart Group Limited and IRC Limited, and an independent non-executive director of Cheung Kong (Holdings) Limited (Stock Code: 1), Orient Overseas (International) Limited (Stock Code: 316), Wing Tai Properties Limited (Stock Code: 369) and Spring Asset Management Limited (Stock Code: 1426), the manager of Spring Real Estate Investment Trust, all of which are companies listed on the Stock Exchange. He is an independent non-executive director of Essar Energy Plc and the chairman and an independent non-executive director of Gulf Keystone Petroleum Ltd., both companies are listed in the United Kingdom and a non-executive director of Compagnie Financière Richemont SA, a company listed in Switzerland.

He was formerly an independent non-executive director of Hutchison Whampoa Limited (Stock Code:13), and a non-executive chairman of Glencore International Plc (renamed to Glencore Xstrata Plc)(Stock Code: 805), all are companies listed in Hong Kong; an independent director of Sino-Forest Corporation, previously listed in Canada and a non-executive director of Vodafone Group Plc, a company listed in the United Kingdom. Mr. Murray is a member of the Former Directors Committee of The Community Chest of Hong Kong and has been involved in a number of other charitable organisations, including Save The Children Fund and The China Coast Community Association.

Lam, Lee G. - Non-Executive Director

Dr. Lam, Lee G., is currently Chairman-Indochina, Myanmar and Thailand (and formerly Chairman-Hong Kong), and Senior Adviser-Asia, of Macquarie Capital (Hong Kong) Limited.

Dr. Lam holds a Bachelor of Science in Sciences and Mathematics, a Master of Science in Systems Science, and a Master of Business Administration Degree, all from the University of Ottawa in Canada, a Post-graduate Diploma in Public Administration from Carleton University in Canada, a Post-graduate Diploma in English and Hong Kong Law and a Bachelor of Law (Hons) from Manchester Metropolitan University in the United Kingdom, a PCLL in law from the City University of Hong Kong, a Certificate in Professional Accountancy from the Chinese University of Hong Kong SCS, a LLM in law from the University of Wolverhampton in the United Kingdom, a Master of Public Administration and a Doctor of Philosophy Degree from the University of Hong Kong.

Dr. Lam has over 30 years of international experience in general management, management consulting, corporate governance, direct investment, investment banking and fund management across the telecommunications, media and technology (TMT), consumer/healthcare, infrastructure/real estates, resources/energy and financial services sectors, and he also serves on the board of a number of publiclylisted companies and investment funds in the Asia Pacific region. Having served as a Part-time Member of the Central Policy Unit of the Government of the Hong Kong Special Administrative Region for two terms and the Legal Aid Services Council, Dr. Lam is a Member of the Jilin Province Committee (and formerly a Specially-invited Member of the Zhejiang Province Committee) of the Chinese People’s Political Consultative Conference, a Vice Chairman of Liaoning Chinese Overseas Friendship Association, a Member of the New Business Committee of the Financial Services Development Council (FSDC), a Member of the Derivatives Market Consultative Panel of Hong Kong Exchanges and Clearing Limited (HKEx), a Member of the Hong Kong Institute of Bankers, a Member of the World Presidents’ Organization, a Member of the Chief Executives Organization, a Fellow of the Hong Kong Institute of Directors and the Hong Kong Institute of Arbitrators, an Accredited Mediator of the Centre for Effective Dispute Resolution (CEDR), a Member of the General Committee and the Corporate Governance Committee of the Chamber of Hong Kong Listed Companies, a Board Member of the Australian Chamber of Commerce in Hong Kong and Macau, a founding Board Member and the Honorary Treasurer of the Hong Kong-Vietnam Chamber of Commerce, a founding Member of the Hong Kong-Korea Business Council, a Vice President of the Hong Kong Real Property Federation, and Chairman of Monte Jade Science and Technology Association of Hong Kong.

Dr. Lam is currently an independent/non-executive director of CSI Properties Limited (Stock Code:497), Glorious Sun Enterprises Limited (Stock Code: 393), Heng Fai Enterprises Limited (Stock Code:185), Hutchison Harbour Ring Limited (Stock Code: 715), Imagi International Holdings Limited (Stock Code: 585), Mei Ah Entertainment Group Limited (Stock Code: 391), Mingyuan Medicare Development Company Limited (Stock Code: 233), Ruifeng Petroleum Chemical Holdings Limited (Stock Code:8096), Sunwah Kingsway Capital Holdings Limited (Stock Code: 188), Vongroup Limited (Stock Code:318), all of which are companies listed on the Stock Exchange of Hong Kong Limited (the “Stock Exchange”). He is an independent/non-executive director of Rowsley Limited (Stock Code: A50), Asia-Pacific Strategic Investments Limited (Stock Code: 5RA) and Top Global Limited (Stock Code: 519), all of which are companies listed on the Stock Exchange of Singapore. He is also an independent/nonexecutive director of Sunwah International Limited (Stock Code: TSX SWH)(listed on the Toronto Stock Exchange), Vietnam Equity Holding (Stock Code: 3MS) and Vietnam Property Holding (Stock Code:3MT) (both companies are listed on the Stuttgart Stock Exchange) and Coalbank Limited (Stock Code:ASX CBQ) (listed on the Australian Stock Exchange).

Li Siu Yui - Independent Non-Executive Director

Mr. Li Siu Yui, joined the Board on 10 October 2007 and is an independent non-executive Director. He holds a Master’s degree in Business Administration from University of Wales. He has over 10 years’ experience in the area of investment. He was working in securities companies during the period from 1997 to 2002. He has been engaged as an investment manager in two private companies since 2002.

Mr. Lam Lum Lee - Independent Non-Executive Director

Mr. Lam, is currently chairman of China Information Industry Association (中華信息產業聯合會) and chairman of China Culture & Education Foundation (中華文化教育基金會). He was a committee member of Hong Kong Vocational Training Council of Electronic and Telecommunication Division (香港職業訓練局通訊及電子委員會), a president of Hong Kong Critical Components Manufacturers Association (香港關鍵性零部件製造業協會), a vice chairman of Hong Kong Electronic Technology Association (香港電子科技商會), and a director of Hong Kong Optoelectronic Association (香港光電子協會).

Audit Committee

Terms of Reference

 

Remuneration Committee

Term of Reference

 

Nomination committee

Term of Reference

 

List of Directors and Their Roles and Functions

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Director Nomination Procedure

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Memorandum of Association

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Articles of Association

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Shareholder Communication Policy

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Board Diversity Policy

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