Moody's: Nan Fung unaffected

Moody's Investors Service said the death of Dr. Chen Din-hwa, the founder of Nan Fung International Holdings, will not affect the company's credit profile.

"Dr. Chen's death after a long illness will not have any immediate impact on NFIH's operations because he had not been involved in the company's business or strategic decision-making since November 2008, when a court ruling declared him mentally incapacitated under Hong Kong's mental-health ordinance," said Kaven Tsang, a Moody's assistant vice president and analyst, in a news release.

The agency said the compnay's Baa3 rating and stable outlook already factor in potential uncertainties related to business continuity.

Chen's daughter, Vivien Chen, is now the chairperson and managing director of Nan Fung International Holdings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.