Jump to content

Sun Hung Kai's Kwoks Face New Bribery Charges


Porker
 Share

Recommended Posts

Sun Hung Kai Properties Ltd. (16), Hong Kong’s second-largest developer, said Co-Chairmen Thomas and Raymond Kwok face additional charges in a bribery case involving a former chief secretary.

 

Raymond Kwok faces two more charges including for conspiracy to commit misconduct in a public office and Thomas Kwok faces one additional charge, Sun Hung Kai said today in a statement. The case has not and will not affect the company’s operations, it said. The trial is scheduled to start May 8.

 

Hong Kong’s anti-graft agency opened one of the city’s most high-profile corruption cases in 2012 when it charged the Kwok brothers and two other men for conspiring to provide payments, loans, and property use to Rafael Hui, a former No. 2 official in the city. All five defendants have pleaded not guilty to charges including misconduct in public office and furnishing false information.

 

The brothers will be added to the charge of conspiring, with two other men, to offer advantage to a public servant, Kit Hung, a spokeswoman for the Department of Justice, said earlier today. Previously, only Hui and the two men were charged with the offense.

 

Sun Hung Kai’s stock slid 0.4 percent in Hong Kong trading as of 1:49 p.m., against a 0.6 percent decline in the benchmark Hang Seng Index.

 

Thomas Kwok has a net worth of $8.2 billion and Raymond Kwok is worth $8.3 billion, according to the Bloomberg Billionaires Index.

Sun Hung Kai’s financial services unit last August sued Hui for HK$3.16 million ($407,358) over a loan. Hui was declared bankrupt by the city’s High Court, Radio Television Hong Kong reported in November, citing court proceedings.

 

The case is Hong Kong Special Administrative Region v Rafael Hui, Thomas Kwok, Raymond Kwok, Thomas Chan and Francis Kwan, HCCC98/2013 in Hong Kong’s High Court.

↡ Advertisement
Link to post
Share on other sites

Sun Hung Kai is no.2 largest..

The largest is Cheung Kong currently?

 

Cos' years ago, I read some where the Sun Hung Kai is no.1 and Cheung Kong is no.2. So now swop?

 

 

Sun Hung Kai Properties Ltd. (16), Hong Kong’s second-largest developer, said Co-Chairmen Thomas and Raymond Kwok face additional charges in a bribery case involving a former chief secretary.

 

Raymond Kwok faces two more charges including for conspiracy to commit misconduct in a public office and Thomas Kwok faces one additional charge, Sun Hung Kai said today in a statement. The case has not and will not affect the company’s operations, it said. The trial is scheduled to start May 8.

 

Hong Kong’s anti-graft agency opened one of the city’s most high-profile corruption cases in 2012 when it charged the Kwok brothers and two other men for conspiring to provide payments, loans, and property use to Rafael Hui, a former No. 2 official in the city. All five defendants have pleaded not guilty to charges including misconduct in public office and furnishing false information.

 

The brothers will be added to the charge of conspiring, with two other men, to offer advantage to a public servant, Kit Hung, a spokeswoman for the Department of Justice, said earlier today. Previously, only Hui and the two men were charged with the offense.

 

Sun Hung Kai’s stock slid 0.4 percent in Hong Kong trading as of 1:49 p.m., against a 0.6 percent decline in the benchmark Hang Seng Index.

 

Thomas Kwok has a net worth of $8.2 billion and Raymond Kwok is worth $8.3 billion, according to the Bloomberg Billionaires Index.

Sun Hung Kai’s financial services unit last August sued Hui for HK$3.16 million ($407,358) over a loan. Hui was declared bankrupt by the city’s High Court, Radio Television Hong Kong reported in November, citing court proceedings.

 

The case is Hong Kong Special Administrative Region v Rafael Hui, Thomas Kwok, Raymond Kwok, Thomas Chan and Francis Kwan, HCCC98/2013 in Hong Kong’s High Court.

 

Link to post
Share on other sites

Sun Hung Kai Properties Ltd. (16), Hong Kongs second-largest developer, said Co-Chairmen Thomas and Raymond Kwok face additional charges in a bribery case involving a former chief secretary.

 

Raymond Kwok faces two more charges including for conspiracy to commit misconduct in a public office and Thomas Kwok faces one additional charge, Sun Hung Kai said today in a statement. The case has not and will not affect the companys operations, it said. The trial is scheduled to start May 8.

 

Hong Kongs anti-graft agency opened one of the citys most high-profile corruption cases in 2012 when it charged the Kwok brothers and two other men for conspiring to provide payments, loans, and property use to Rafael Hui, a former No. 2 official in the city. All five defendants have pleaded not guilty to charges including misconduct in public office and furnishing false information.

 

The brothers will be added to the charge of conspiring, with two other men, to offer advantage to a public servant, Kit Hung, a spokeswoman for the Department of Justice, said earlier today. Previously, only Hui and the two men were charged with the offense.

 

Sun Hung Kais stock slid 0.4 percent in Hong Kong trading as of 1:49 p.m., against a 0.6 percent decline in the benchmark Hang Seng Index.

 

Thomas Kwok has a net worth of $8.2 billion and Raymond Kwok is worth $8.3 billion, according to the Bloomberg Billionaires Index.

Sun Hung Kais financial services unit last August sued Hui for HK$3.16 million ($407,358) over a loan. Hui was declared bankrupt by the citys High Court, Radio Television Hong Kong reported in November, citing court proceedings.

 

The case is Hong Kong Special Administrative Region v Rafael Hui, Thomas Kwok, Raymond Kwok, Thomas Chan and Francis Kwan, HCCC98/2013 in Hong Kongs High Court.

Tai Hung Kok Co. will be your company of choice.

  • Praise 1
Link to post
Share on other sites

this shows how property tycoon can "summon rain and move mountain" to control and manipulate the market

Edited by Wt_know
Link to post
Share on other sites

this shows how property tycoon can "summon rain and move mountain" to control and manipulate the market

 

Singapore very clean one.

 

Govt do not sell favours to developers here. [:)]

Edited by Wyfitms
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...