Two more Hong Kong universities admit they also have offshore companies after Panama Papers exposed PolyU
Renewed calls for a review of transparency standards after fresh disclosures by the University of Hong Kong and Chinese University
Two more Hong Kong universities have admitted they have offshore companies, days after the leaked Panama Papers exposed the secretive commercial operations of Polytechnic University.
The disclosures by the University of Hong Kong (HKU) and Chinese University of Hong Kong (CUHK) prompted more calls for a review of the transparency standards for business dealings of publicly funded academic bodies.
A number of pan-democratic lawmakers, including Kenneth Leung of the accountancy sector and Dr Fernando Cheung Chiu-hung, a PolyU academic, said they planned to investigate the matter and raise it in the Legislative Council after the Post’s exposé.
Hong Kong government sidesteps calls for action after revelations in Panama Papers
The first university discovered to own secretive BVI firms, PolyU, faces more questions as it did not name the two BVI firms in its financial reports.
CUHK has consistently done so in its financial reports.
