Porker Turbocharged February 13, 2014 Share February 13, 2014 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 More sharing options...
Hanan_ho 2nd Gear February 13, 2014 Share February 13, 2014 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 More sharing options...
The_Bear Turbocharged February 13, 2014 Share February 13, 2014 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. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic February 13, 2014 Share February 13, 2014 (edited) this shows how property tycoon can "summon rain and move mountain" to control and manipulate the market Edited February 13, 2014 by Wt_know Link to post Share on other sites More sharing options...
Wyfitms Twincharged February 14, 2014 Share February 14, 2014 (edited) 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 February 14, 2014 by Wyfitms Link to post Share on other sites More sharing options...
The_Bear Turbocharged February 15, 2014 Share February 15, 2014 Singapore very clean one. Govt do not sell favours to developers here. Cocolat and strawbelly. :) ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Don't dare bribe in sg but go msia bribe orbigood
Don't dare bribe in sg but go msia bribe orbigood
Malaysian former finance minister Guan Eng arrested over Penang tunnel project
Malaysian former finance minister Guan Eng arrested over Penang tunnel project
HR manager in Hyflux subsidiary charged with corruption
HR manager in Hyflux subsidiary charged with corruption
Muis rebuts allegations of corruption in its halal certification process
Muis rebuts allegations of corruption in its halal certification process
Infosys in the news
Infosys in the news
Another corruption case?
Another corruption case?
US, UK, Australia probe mass oil industry corruption
US, UK, Australia probe mass oil industry corruption
Ex-NTUC President Corruption Case
Ex-NTUC President Corruption Case