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.
Sun Hung Kai impresses S&P
Standard & Poor's has raised its long-term corporate credit rating on Sun Hung Kai Properties to A+ from A. The outlook is 'stable'. S&P also raised ratings on all issuances by the company's financing vehicles Sun Hung Kai Properties (Capital Market) and Sun Hung Kai Properties (Financial Services) to A+ from A. 'It reflects the steady growth in the company's high-quality investment property portfolio and its conservative and consistent financial management policies,' S&P analyst Bei Fu said.