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.
SmarTone sees bumper half-year net
SmarTone Telecommunications Holdings, which runs mobile phone networks in Hong Kong and Macau, expects a significant net profit for the six months to December because of an increase in subscribers and higher average monthly revenue per user. The operator, a subsidiary of Sun Hung Kai Properties, said profit for the period would be better than the full-year results to June last year, when it posted a sevenfold increase in net profit to HK$294 million from HK$42 million in 2009. Its interim results will be announced later next month.