The Securities and Futures Commission (SFC) is pursuing disqualification orders against four former directors of Century Energy International Holdings Limited (formerly China Oil Gangran Energy Group Holdings Limited) following an investigation into the company’s significant financial losses due to a loss of control over four major operating subsidiaries. The former directors, including Mr. Gregory Ho Chun Kit and Mr. Zheng Jian Peng, are accused of failing to supervise these subsidiaries adequately, leading to their deconsolidation and a reported loss of $184 million for the financial year ending March 31, 2019. Additionally, some of the directors are implicated in publishing misleading information regarding one of the subsidiaries.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR150
