HK property tycoons hit with additional charges in bribery case

HONG KONG Thu Feb 13, 2014 2:16am EST

Chairmen of Hong Kong developer Sun Hung Kai Properties Raymond Kwok (L) and Thomas Kwok listen to questions during a news conference in Hong Kong September 13, 2012. REUTERS/Bobby Yip

Chairmen of Hong Kong developer Sun Hung Kai Properties Raymond Kwok (L) and Thomas Kwok listen to questions during a news conference in Hong Kong September 13, 2012.

Credit: Reuters/Bobby Yip

HONG KONG (Reuters) - Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd (0016.HK), had additional charges filed against them on Thursday in a bribery investigation surrounding Asia's largest developer, the company said on Thursday.

The Sun Hung Kai probe, Hong Kong's biggest corruption case since its anti-graft agency was formed nearly 40 years ago, involves one of Asia's most powerful families and the world's second-largest property company with a market capitalization of $33 billion.

Thomas Kwok received an additional charge under the anti-graft law, while two additional charges for conspiracy to commit misconduct in a public office were laid against Raymond Kwok, the company said in a statement on the Hong Kong stock exchange. (link.reuters.com/jyz76v)

The case will not affect its business and operations, the company said.

The Kwok brothers and Rafael Hui, the former head of Hong Kong's civil service, were charged in August 2012 for offences linked to bribery and misconduct in public office.

Two others have also been charged in the case including Thomas Chan, the board member in charge of land purchases at Sun Hung Kai Properties, and Francis Kwan, a former banker.

Shares in the company fell 0.2 percent on Thursday morning, in line with a 0.3 percent fall in the benchmark Hang Seng Index

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(Reporting By Yimou Lee; Editing by Matt Driskill)