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Feb. 25, 2013, 11:52 AMHong Kong property sales slumped 15% over the weekend (fromt the previous weekend) after a doubling in the sales tax last week. "The government intends to turn away yield-seeking investors from all property markets," says the team at JPMorgan. A gauge of property developers fell for its 7th consecutive session overnight. | Comment!
May. 4, 2012, 1:25 AMAnother arrest at Hong Kong's Sun Hung Kai Properties (SUHJY.PK) as non-executive director Walter Kwok Ping-sheung is taken in by the anti-corruption ICAC on suspicions related to an anti-bribery ordinance. Chairmen Ray and Thomas Kwok were arrested in March on similar suspicions. Shares were halted, to resume in HK afternoon trading.
Mar. 30, 2012, 8:22 AMAfter being halted from trade Thursday following the arrests of co-chairmen Raymond and Thomas Kwok, Sun Hung Kai Properties plunges 13.1% in Hong Kong last night. The move was telegraphed in the States by yesterday's action on the pink sheets (SUHJY.PK). S&P chimes in, lowering the outlook on the developer's A+ rating to negative. | Comment!
Mar. 29, 2012, 4:56 PMThe chairmen of Sun Hung Properties (SUHJY.PK -13.1%) - Ray and Thomas Kwok - were arrested on suspicion of corruption last night by Hong Kong's ICAC. Their company is the largest developer by market value in Asia and the family is worth $18.3B. The timing is of interest, coming after the election of a new HK chief executive and amid sentiment against rising house prices and developers. | Comment!
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Sun Hung Kai Properties is an investment holding company. Through its subsidiaries, associates and jointly controlled entities, Co. is engaged in IT infrastructure and internet services investment; mobile telephone system operation; general management; registered deposit-taking; finance; general... More
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