Kuk's Lau declares shareholdings in 70 firms

PUBLISHED : Friday, 24 September, 1993, 12:00am
UPDATED : Friday, 24 September, 1993, 12:00am

DUBBED the second richest man in the legislature, Lau Wong-fat has shares in a wide range of businesses - from cinemas and kindergartens to property.

Mr Lau, the Legislative Council representative of the New Territories body Heung Yee Kuk, said in his declaration that he had shareholdings in 70 companies - an increase of 34.6 per cent compared with last year's tally of 52.

The majority, 43 per cent, were investment companies - 19 per cent were property investments. Others included food and beverages, manufacturing companies and a charity and education foundation.

He is also director of 16 companies, 12 of which are restaurants.

Mr Lau, who topped the 1991 list as the biggest landlord, did not indicate the amount of land he owned this year. He only said he had properties in Hong Kong, Canada, Britain and China.

His Legco colleague Marvin Cheung Kin-tung's latest declaration showed his previous shareholdings in 14 companies had disappeared.

Mr Cheung said in the form that neither he nor his spouse had shares in any private or public company which had a nominal value greater than one per cent of the issued share capital.

In 1992, he disclosed he had shares in 14 firms.

The 14 companies included KPMG Peat Marwick - for which he is now working - KPMG Peat Marwick Management Consultants Ltd and KMPG Peat Marwick Asia.

Legislative Council newcomer Alfred Tso Siu-wai declared he held remunerated directorships and shares in four companies.

They were a kindergarten, a food company, an investment firm and a property management company.

Mr Tso has no properties from which he derives a substantial income.