Tycoon Henry Fok Ying-tung's intention to sell his shares in Stanley Ho Hung-sun's Macau gambling business is in line with Beijing's wish for key people to distance themselves from the enclave's gambling business, an academic and an observer said.
Mr Fok, a vice-chairman of the Chinese People's Political Consultative Conference, told the Ta Kung Pao newspaper this week he wanted to sell his 27.7 per cent stake in Sociedad de Turismo e Diversoes de Macau (STDM) by March 31, when the casino monopoly expires.
Although he did not name a buyer, it is understood the shares may be sold to other shareholders. STDM managing director Mr Ho, who holds 30 per cent, indicated on Monday he was interested in buying the stake.
Ivan Choy Chi-keung, lecturer at the social studies division of City University, who taught at the East Asia University in Macau, said Mr Fok's decision indicated the decline of Mr Ho's influence in Macau and Beijing's wish to keep its key people at a distance from Macau's gambling industry.
'His pullout has sent out a clear message from Beijing that politics should be separated from the economy. The central Government might not want its leader to have very close links with STDM amid the liberalisation of the gaming industry,' he said.
Dr Sonny Lo Shiu-hing, lecturer in the Department of Politics and Public Administration of the University of Hong Kong, agreed Mr Fok's departure would help correct the misunderstanding that Beijing leaders meddled in the running of STDM.