Jimmy Lai among five Hong Kong veteran democracy activists to be jailed
April 16, 2021, 9:40 am

Jimmy Lai among five Hong Kong veteran democracy activists to be jailed

Media mogul Jimmy Lai Chee-ying, founder of Apple Daily, walks to a prison van to head to court, after being charged under the national security law, in Hong Kong, China, on December 12, 2020. (File photo: Reuters)

Hong Kong media tycoon Jimmy Lai was jailed for 12 months on Friday along with four other veteran democracy activists for helping to lead one of the city’s biggest-ever protests.

Organizers say 1.7 million people -- almost one quarter of Hong Kong’s population -- turned out for a huge rally that formed the backbone of demonstrations that wracked the city throughout 2019.

Lai was among nine of Hong Kong’s most prominent democracy campaigners found guilty of organizing and participating in the rally.

Many of them have spent decades advocating non-violence in their ultimately fruitless campaign for universal suffrage.

Lai, 73, was sentenced to 12 months in prison while four other campaigners were jailed for between eight and 18 months.

Among the other defendants were Martin Lee, 82, a respected barrister known as the “father of democracy” in Hong Kong, who was once chosen by Beijing to help write the city’s mini-constitution.

They also include Margaret Ng, a 73-year-old barrister and former opposition lawmaker.

Lee and Ng were also given prison terms, but their sentences were suspended.

Lai was brought to the court from custody, where he was being held after arrest under Beijing’s new national security law.

Seven of the defendants who had earlier pleaded not guilty submitted their mitigation on Friday morning.

“There is no right so precious to the people of Hong Kong as the freedom of expression and the freedom of peaceful assembly,” said Ng, who discharged her legal team and gave her statement in person.

She added that she’s prepared to stand with and stand up for the people who “in the last resort, had to give collective expression of their anguish and urge the government to respond”.

“I stand the law’s good servant but the people’s first,” said Ng, whose submission ended with a round of loud applause in courtroom.

Judge Amanda Woodcock earlier said in her verdict that the march had caused serious traffic disruption and the fact it was peaceful was no defense.

“I’m ready for the sentencing and I’m proud that I can walk with the people of HK in this road for democracy,” former lawmaker Lee Cheuk-yan said outside court ahead of the hearing.

“We’ll walk together through the storm even in darkness.”

Lee was sentenced to 12 months in jail.

Lee and Jimmy Lai had pleaded guilty to taking part in another illegal assembly on August 31, 2019.

The maximum penalty is five years in prison and the sentencings are also expected to be delivered on Friday afternoon.

The rallies in 2019 often descended into clashes between riot police and a knot of hardcore participants, and posed the most concerted challenge to China’s rule since the former British colony’s 1997 handover.

Since then, authorities have unleashed a broad crackdown, with the imposition of a sweeping security law that criminalizes much dissent, and passed a radical overhaul of the city’s electoral system.

source: AFP

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.