Tencent unit's request to withhold execs' shareholding info draws flak

Hong Kong

TENCENT Holdings' online publishing subsidiary has sought a waiver from Hong Kong listing rules to allow it to withhold shareholding information of some executives, drawing criticism from corporate governance advocates.

China Literature Ltd requested the unusual exemption from the Hong Kong bourse, saying revealing the three executives' stakes "would attract unnecessary attention among Tencent's employees and would likely create an unfavourable and political working environment which would significantly distort Tencent's workplace culture and distract them from their business duties within as well as their duties as directors of our company."