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 high-profile corruption trial set for May 2014
Hong Kong’s biggest corruption case in history involving the co-chairmen of Sun Hung Kai Properties is set to be tried in May next year.
The listing was conducted at a close-door hearing at the High Court on Wednesday morning.
The criminal trial of the high-profile scandal involving brothers Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen will take place between early May and mid-August for an estimated 70 days. The Kwok brothers and former chief secretary Rafael Hui Si-yan have been charged with bribery.
The ICAC alleges that, between 2000 and 2009, Hui took more than HK$34 million in bribes, and the rent-free use of a flat in Happy Valley, from four other defendants in return for favours.
The pre-trial review is set for September 3.