The founder of Great Eagle Holdings, the property and hotel giant, has died aged 93 after an illness. Last night an executive within the group confirmed the death of Lo Ying-shek last Friday. 'He was a nice boss. He always emphasised integrity while doing business,' the executive said. 'He always wore a smile on his face. My impression is that he was a very hard-working person. I didn't see him in the past two years when his health deteriorated.' As he was chairman and managing director of the firm, Lo's death will be disclosed to Hong Kong Exchanges and Clearing today. A formal announcement and obituary will be released on Friday. Lo, one of Hong Kong's property market pioneers, retained the top posts at the group he founded in 1955 until the very end. However, he had ceded active management in recent years to his children, six of whom sit on its board of directors along with his wife, 85-year-old Lo To Lee-kwan. The Chinese company name is a combination of the elderly couple's name: 'Ying-Kwan'. Three of their sons have risen to prominence in Hong Kong and mainland business circles. Property tycoon Vincent Lo Hong-sui is chairman and chief executive of the Shui On Group. Eldest son Lo Yuk-sui is in charge of Century City International Holdings, the parent company of Paliburg Holdings and Regal Hotels International, while Lo Ka-shui, a cardiologist, runs the family-controlled Great Eagle as deputy chairman and managing director of the group. Lo was born in Chiu Chow, Guangdong, in 1913. When he was a child, he moved with his family to Thailand. He moved to Hong Kong in 1938 to deal in textiles for his family business, which expanded from its base in Bangkok and Singapore. At the end of the second world war, Hong Kong's population had fallen to 500,000, but Lo recognised that the influx of returnees and mainland refugees during the late 1940s and 1950s would create a housing crisis. Lo went into the property market and founded Great Eagle in 1955. The company was incorporated in 1963 and it went public as one of Hong Kong's first property giants in 1972. Lo's funeral service will be held on September 14 at the Hong Kong Funeral Home in North Point. His death had no impact on the group's stock, which rose 90 cents to close at HK$26.55 yesterday.