Sun Hung Kai Properties, Asia's biggest developer by market value, has suspended trading of its stock, pending the release of a statement that could be "price sensitive", the company said. The announcement came as local media reported that its billionaire co-chairmen Thomas and Raymond Kwok were asked to assist in an investigation by Hong Kong's anti-graft agency. The company also suspended trading of two...
Sun Hung Kai Properties
Sun Hung Kai Properties forecast that sales for the next fiscal year will hit HK$32 billion (S$5.3 billion), an executive from the company said Thursday. Hong Kong's largest developer by market capitalisation predicted that sales in the city alone would hit HK$26.8 billion next fiscal year, which runs through June 2012. The company also called for a revision of Hong Kong's special stamp duty, imposed a...
Hong Kong-listed developer Sun Hung Kai Properties bought a rare luxury residential site for HK$4.49 billion (S$708 million) in a hotly contested government land auction on Thursday. The price was at the upper end of market expectations, suggesting the impact of the government's property tightening measures remains limited due to shortage in the supply of prime land. The winning bid at the second public...
A FAMILY feud at Sun Hung Kai Properties, one of Hong Kong's biggest developers, is shaping up to become a feisty legal battle for boardroom control. The woes of the Kwok family have taken a dramatic twist after the chairman of Sun Hung Kai Properties, who took leave of absence in February, filed a writ against the company and his brothers. At the time, Sun Hung Kai Properties said Walter Kwok was taking...