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.
Corrections & clarifications
An item contained in the 'A Bad Week For...' column published on page A2 of the Sunday Morning Post concerned the appointment of William Leung Wing-cheung to the position of executive director and executive committee member of Sun Hung Kai & Co. The item incorrectly linked that company to Sun Hung Kai Properties, whose two chairmen have been arrested by the Independent Commission Against Corruption. In fact, Sun Hung Kai & Co., a financial services company, and its unit SHK Financial are not related to the property developer. The Post regrets the error.