Glass Lewis issued a controversy alert on Tuesday for Xinyi Glass Holdings (HKG:0868) shareholders ahead of the company's annual general meeting on May 30.
The alert relates to the alleged involvement of the integrated glass company in Indonesia's Rempang Eco-City Project in 2023, which was hounded by claims of human rights abuse and violence.
The project involved an $11.6 billion glass and solar panel factory reportedly tied to subsidiary Xinyi International Investment.
The project faced rifts with indigenous communities fighting eviction and allegedly involved politically tied companies.
Xinyi Glass Holdings said earlier this year that it was not involved in the project, and it had no representation in discussions for any development matters with the government or related authorities.
The alert's rationale relates to public stakeholder opposition and relevant media coverage and falls under community and stakeholder relations.
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