Sun Hung Kai Properties
Sun Hung Kai Properties is one of Hong Kong’s largest property groups, with revenue of HK$68.4 billion in the 2011-2012 financial year, and profit attributable to shareholders of HK$43.08 billion. The company has been shaken in recent years by disputes between family members, with chairman and chief executive Walter Kwok being forced to step down in a dispute with his brothers Thomas and Raymond. In March, the Independent Commission Against Corruption (ICAC) arrested senior officials as part of a corruption probe that also included former chief secretary Rafael Hui.
$450m home the priciest since '97
Sun Hung Kai Properties has joined the rush for luxury premises, paying $450 million for a house in Deep Water Bay. It is the largest single-house transaction since the property-market bubble burst in 1997 and reflects developers' positive outlook for the top-end market.
Full report - B1