Chan Hoi-wan appointed executive director of Chinese Estates

PUBLISHED : Monday, 13 February, 2017, 9:57pm
UPDATED : Monday, 13 February, 2017, 9:57pm

Chinese Estates Holdings said Chan Hoi-wan, spouse of controlling shareholder and Hong Kong tycoon Joseph Lau Luen-hung, has been appointed as an executive director of the company, effective February 13.

Lau, whose love life has held the attention of the city, made headlines with news of his marriage to long-time partner Chan in November last year.

Chan will be entitled to an annual remuneration of HK$100,000, according to the company’s filing to the Hong Kong exchange. Chan worked for the group from 2002 to 2005 and participated in its cosmetics business, including the “Two Girls” products.

Chan’s elder sister Chan Sze-wan is an executive director and chief executive officer of Chinese Estates.

Lau unseated Thomas and Raymond Kwok to rank fourth among Hong Kong’s top 50 richest people, according to a January Forbes’ annual list of individuals and families that control the most wealth in the city.

In 2014, the billionaire was handed a jail term of five years and three months by a Macau court for his part in a bribes-for-land racket involving a corrupt public official in the former Portuguese enclave.

But Lau remains a free man in Hong Kong due to the lack of a formal extradition agreement between the two jurisdictions.