TAIPEI, June 15, 2012 /PRNewswire-Asia/ -- On June 27, 2012, China Petrochemical Development Corporation ("CPDC") will hold its Annual General Meeting. The most critical ballot item for this year's meeting is the election of directors, including two independent directors. Because of the LeaLea Enteprise Co., Ltd. ("LeaLea") has recently disseminated false accusations to defame CPDC's board and management team. The chairman & CEO, Sheen, Ching-Jing thereby sent a letter to CPDC's shareholds to clarify some of the issues raised in these materials.
CPDC was state-owned enterprise originally, then listed in the stock market and privately operated according to the Statute of Privatization of Government-Owned Enterprises since 1994. The current management team, Core Pacific Group, has consistently created shareholder value since then.
CPDC is one of a few companies in Taiwan run by professional managers. Unlike many other Taiwanese enterprises, such as LeaLea Group, which are still family-owned, its ownership is clear and simple and hence it does not have the attending obstructions in financial capital. CPDC are transparent and pursue a single goal: maximizing value for its shareholder.
Mr Sheen, Ching-Jing emphasizes that CPDC under his team's leadership was still able to achieve record performance last year, regardless of the difficulties presented by the extremely adverse global economic conditions. Altogether, CPDC's team consisting of professional experts to grow CPDC and commit to grow with shareholders with the ultimate goal of maximizing shareholder value.
Click this link for the letter (June 12, 2012): Chairman's Letter to Clarify Distorted, Untruthful and Potentially Libelous Criticisms Disseminated by a Group of Dissident Investors
For the analysis of CPDC's financial performance, please visit: http://www.cpdc.com.tw/upfiles/report01339723432.pdf
Contact:
Spencer Pai
Mega Bridge Consultants Ltd.
+886-2-8726-1300
spencer@mega-bridge.com
