Kwong Siu-hing, the 84-year-old matriarch who controls Sun Hung Kai Properties (SHKP), has confirmed that she has transferred shares worth an estimated HK$33 billion to the families of two sons, who are co-chairmen of the HK$260 billion business empire.Friday, 6 December, 2013, 1:03am 1 comment
Investors used to love Sun Hung Kai Properties and its professional management by the three billionaire Kwok brothers who formed what was called an iron triangle. But their bitter family feud and now corruption charges against two of the brothers reveal once again the limits and unreliability of family-controlled business empires in Hong Kong.16 Jul 2012 - 12:00am
Analysts expect short-term volatility in Sun Hung Kai Properties' stock after its joint chairmen, Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen, begin a legal battle that is expected to last several years.
The billionaire brothers who run the developer are digging in for a tough fight with the Independent Commission Against Corruption by hiring three big law firms.14 Jul 2012 - 12:00am
Ex-chief secretary Rafael Hui Si-yan took more than HK$34 million worth of bribes from the billionaire Kwok brothers and two others in return for favours, the ICAC alleged yesterday.
The graft-buster charged Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen - co-chairmen of Sun Hung Kai Properties - and Hui with bribery and public misconduct.14 Jul 2012 - 12:00am
An unprecedented anti-corruption investigation into the tycoon brothers who head Hong Kong's richest property dynasty and their alleged links to a former top government official will reach a critical stage just days after the city's new leader is sworn in on July 1.24 Jun 2012 - 12:00am
Shares of Sun Hung Kai Properties edged up yesterday after Standard & Poor's affirmed its long-term rating and removed it from its credit watch negative list, saying the arrest and probe of four of its directors had no major impact on the company's daily operations.16 Jun 2012 - 12:00am
300 amendments tabled in new revamp filibuster14 Jun 2012 - 12:00am
The billionaire Kwok brothers returned to the ICAC yesterday to renew their bail conditions in the city's biggest-ever corruption case.
Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen, co-chairmen of SHKP, along with Rafael Hui Si-yan, the former Hong Kong chief secretary, briefly attended the graft busters' headquarters in North Point yesterday morning.29 May 2012 - 12:00am
The arrest of all three Kwok brothers at the top of Sun Hung Kai Properties in a corruption investigation has deepened concern about succession at the firm.
Their children, the third generation of Kwoks, are not seen as being ready to take command of the listed developer, in which the family retains a controlling stake.5 May 2012 - 12:00am
Walter Kwok Ping-sheung's arrest came just two days after the former chairman of Sun Hung Kai Properties (SHKP) publicly distanced himself from the bribery scandal engulfing the company.5 May 2012 - 12:00am
The arrest of Walter Kwok Ping-sheung, the eldest of three brothers in one of the wealthiest families in Hong Kong, has put investors in Sun Hung Kai Properties (SHKP) in a deeper dilemma, with analysts advising them that now is not a good time to buy or sell the stock.5 May 2012 - 12:00am
The third Kwok brother, Walter Kwok Ping-sheung, has been arrested as part of Hong Kong's biggest anti-corruption probe, it emerged yesterday.5 May 2012 - 12:00am
Ousted chairman Walter Kwok Ping-sheung yesterday challenged his mother Kwong Siu-hing's power to remove him as a beneficiary of a family trust that controls the HK$246.6 billion Sun Hung Kai Properties empire. 'My mother is just a protector of the family trust. A protector should act in compliance with the agreement between parties,' said Kwok.3 May 2012 - 12:00am
Walter Kwok Ping-sheung, the ousted chairman of Sun Hung Kai Properties, yesterday attempted to distance himself from the corruption scandal engulfing the company as he stepped up his fight to regain some control over the family empire.2 May 2012 - 12:00am
Brushing aside the arrest of the group's two joint chairmen on suspicion of corruption, Sun Hung Kai Properties newly appointed executive director yesterday assured investors that the developer would probably beat its HK$32 billion sales target for the current financial year, which ends in June.13 Apr 2012 - 12:00am