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Boardroom smiles fade as Webb starts to ask questions

Letter from Hong Kong

Annual meetings in Hong Kong used to be brief affairs. So brief that having arrived four minutes late, I missed the first I was supposed to attend because it had ended.

Not only were meetings short but the main subject of interest appeared to be the size and quality of the buffet that accompanied them. Some smaller shareholders seemed intent on taking their dividends in the form of impressively constructed food piles clinging precariously to overloaded plates.

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