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Sun Hung Kai Properties (0016.HK)
28-02-2017, 06:50 PM.
Post: #1
Sun Hung Kai Properties (0016.HK)
Hong Kong's Biggest Developer Sees Profit Rise 57% as Sales Soar

Sun Hung Kai Properties Ltd., Hong Kong’s largest developer by market value, said half-year underlying earnings rose 57 percent, as sales benefited from a surging home market.

Profit excluding property revaluations climbed to HK$14.6 billion ($1.9 billion) in the six months ended Dec. 31, compared with HK$9.3 billion a year earlier, the firm said in a statement to the Hong Kong stock exchange on Tuesday.

Sun Hung Kai’s earnings were buoyed by resurgent demand in Hong Kong’s housing market, where existing home prices this month reached an all-time high and builders bid up prices for land plots, including a record purchase last week. Sun Hung Kai was one of the most aggressive of local major developers in wooing new buyers during a brief correction last year, offering discounts and mortgages valued at more than a home’s value.

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28-08-2018, 08:19 PM.
Post: #2
RE: Sun Hung Kai Properties (0016.HK)
Sun Hung Kai’s former chairman Walter Kwok in stable condition after heart attack

Sandy Li & Jane Zhang
PUBLISHED : Tuesday, 28 August, 2018, 10:13am
UPDATED : Tuesday, 28 August, 2018, 5:54pm

Walter Kwok Ping-sheung, the eldest of the Kwok brothers who run the city’s largest property developer, was taken to hospital after a heart attack, according to a source familiar with the matter.

Kwok, 67, was taken from his residence at Deep Water Bay at around 11.30pm last night for admission into the Ruttonjee Hospital’s intensive care unit, the source said.

The former chairman of Sun Hung Kai Properties was released from Ruttonjee and is now recovering at the Hong Kong Adventist Hospital, where he is said to be in a stable condition, the source said. His family members were seen visiting him at Ruttonjee, according to the source.

Sun Hung Kai Properties chairman Raymond Kwok Ping-luen was seen leaving the hospital at around 1.40pm after visiting his brother this morning.

Officials at Sun Hung Kai declined to comment on their former chairman’s condition, citing his privacy.

Kwok, along with his younger brothers Thomas and Raymond, inherited control of Sun Hung Kai from their late father Kwok Tak-Seng in 1990. Raymond Kwok remains the chairman and managing director of the company, and the family is the third-richest in Asia, with a combined fortune estimated at US$40 billion, according to Forbes.

“The hospital has arranged quite a number of medical experts to examine and assess the situation of Mr (Walter) Kwok,” said a spokesman from the Kwok’s family trust. But he refused to disclose his heath condition

The family feud among the three Kwok brothers for control of Hong Kong’s largest property developer by market capitalisation was once the centre of controversy in the city.

A flashpoint of the dispute came in October 2010 when his mother, matriarch Kwong Siu-hing, removed her eldest son as a beneficiary of the family trust. Since then, he has fought to regain control of the company and his one-third stake in the family trust that controls the property empire. The company had a market capitalisation of about HK$345.9 billion (US$44.1 billion) as of Tuesday’s close.

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21-03-2019, 07:10 PM.
Post: #3
RE: Sun Hung Kai Properties (0016.HK)
Hong Kong Billionaire Released From Jail and Heads Home for Dim Sum

By Shawna Kwan
March 21, 2019, 10:36 AM GMT+7

What’s the first thing a Hong Kong billionaire does when he’s released from jail? Order dim sum, of course.

“The thing I want to do the most? Go home,” 67-year-old Thomas Kwok said outside Stanley Prison after serving just over three years of his five-year sentence. He was granted an early release for good behavior. “I have already ordered dim sum.”

The former co-chairman of Hong Kong’s largest developer, Sun Hung Kai Properties Ltd., Kwok was found guilty in 2014 of conspiring to bribe the city’s former No. 2 official Rafael Hui in exchange for favorable treatment for the company.

Kwok has a net worth of $12.4 billion, making him Hong Kong’s fifth-richest person alongside his younger brother Raymond Kwok, according to the Bloomberg Billionaire’s Index.

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