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Guotai Junan Unit Says Chairman Yim Fung Can't Be Contacted
The Hong Kong unit of one of China’s biggest brokerages, Guotai Junan Securities Co., said it can’t contact its chairman and chief executive officer and has appointed temporary replacements. The unit’s shares fell 14 percent in pre-market trading. Guotai Junan International Holdings Ltd. hasn’t been able to reach Yim Fung since Nov. 18 and he “currently cannot discharge his duties,” the company said in a statement on Monday to Hong Kong’s stock exchange. Two calls to Yim’s mobile phone went to his voicemail box. Based in Hong Kong, Yim has been a high-profile figure in the Hong Kong securities ... (full story)