About

A subsidiary of the COSCO Group, COSCO SHIPPING Ports is principally engaged in the businesses of managing and operating container terminals and related services. Michelle Hung has held the position of general counsel and company secretary for COSCO SHIPPING Ports since 1996 and 2001, respectively. One of her biggest career highlights was playing an important role in the listing of the company’s controlling shareholder in 2005 by ‘acting as a bridge between China COSCO Holdings Company Limited (renamed as COSCO SHIPPING Holdings Co., Ltd.) and the Hong Kong Stock Exchange’. As a result of the process, it issued 2,244,000,000 new shares and raised net proceeds of around HK$8.3bn. Another of Hung’s highlights was her establishment of the legal department of the company from scratch. Since then, various compliance practices and procedures have been developed and revised in accordance with the continual dynamic changes in the regulatory regime. Now with a team of nine colleagues, the department is responsible for handling the legal matters relating to corporate development, financing arrangements, business operations, corporate governance and compliance obligations. Some of Hung’s personal achievements in support of the development of COSCO SHIPPING Ports include the acquisition of concession rights to develop and operate piers at the Piraeus Port in Greece, the sale of a 21.8% equity interest in China International Marine Containers and the acquisition of a significant stake in Sigma Enterprises. The last of these achievements was particularly notable as it increased the company’s shareholding in Yantian International Container Terminal, one of the largest by annual throughput and the first world class natural deep-water port in the People’s Republic of China. In taking an active role in every major transaction throughout the implementation process from initiation to completion, Hung says ‘the ultimate objective is to maintain a systematic structure which effectively achieves corporate objectives in adherence to the directives of the board of directors, whilst addressing the needs and interests of all stakeholders in a balanced and transparent manner’. Hung also advises both the managing directors and the board of directors, and is a member of the corporate governance and risk management committees. Regarding her public office commitments, she is a fellow member of both The Hong Kong Institute of Directors and The Hong Kong Institute of Chartered Secretaries, and a member of the Hong Kong Professionals and Senior Executives Association.