Slater Walker

"After Clairtone, Peter Munk would not do a deal unless he had control of the operation—even if he did not have the required 50percent-plus shares. That was the situation with Fiji and it is the situation with his business ventures now, in the mid-1990s. Birchall explains the Fiji control arrangements: Control has always been achieved on an equitable basis. So far as initial SPP was concerned, when we got the original funding from Slater Walker, Peter and David probably had about 35 percent of the company. And, let’s say, Slater Walker another 25. It was also understood that Slater Walker was going to sell off to other institutions like P & O and the rest. So the objective there was always going to be that Peter and David would not have a large-percentage shareholding but they would have control. I was responsible for preparing monthly management. statements that were sent to all"

"Slater Walker had earlier purchased a Singapore-based pharmaceutical firm, Haw Par Brothers (Hong Kong) Limited, which was listed on the Hong Kong stock exchange—a fact that was allimportant. Haw Par bought a controlling interest in King Fung, which would be the main vehicle for what was to follow for SPP."

"Launching Pacific Harbour investors—Slater Walker and P & O and Jardine Matheson. They were done in very great detail. We ran it on a basis of total disclosure, of total communication and of consultation all the way down the line, to the point where they would ask us to please stop sending them all this stuff."