Tycoon Stanley Ho Hung-sun is making a good recovery and rumours that his condition is fast deteriorating were not correct, his daughter has said. While the 87-year-old is yet to be released from Hong Kong's Adventist Hospital, Pansy Ho Chiu-king said the casino mogul had embarked on a regime of cycling and eating to make up for the weight he had lost since he was taken to hospital early last month. Pansy Ho, who is managing director of the family holding company Shun Tak Holdings, also said on Friday that her father had made an '80 per cent recovery'. But she said the family did not know when he would be released from hospital. The tycoon is believed to have had brain surgery to remove a blood clot after a fall at home. Ho was first admitted to the Hong Kong Sanatorium and Hospital in Happy Valley before being moved to the Adventist Hospital in Stubbs Road. The news saw shares in Shun Tak Holdings and SJM Holdings fall, sparked by concerns over his plans for succession in his business empire. Ho, who is listed as the director of 169 firms in Hong Kong alone, has three 'wives' and 17 children. Many of them play a very hands-on role in his sprawling business empire. Pansy Ho is managing director of shipping, real estate and hotel developer Shun Tak, while Daisy Ho Chiu-fung is deputy managing director and chief financial officer. Ho's fourth wife, Angela Leong On-kei, is also an SJM director.