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Hong Kong's Kwok brothers renew bail at anti-corruption body

Sunday, May 27, 2012 - 01:27

May 28 - Sun Hung Kai co-chairmen Raymond and Thomas Kwok return to HK's anti-corruption agency to renew their bail. Arnold Gay reports.

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NOTE: THIS EDIT CONTAINS CONVERTED 4 BY 3 MATERIAL As with previous visits to Hong Kong's anti-corruption agency, the arrival of the Kwok brothers set off a scrum. Local and international media crews mobbed the men as they arrived in separate cars to renew their bail at the Independent Commission Against Corruption (ICAC). The case is the ICAC's highest profile since it was founded about 37 years ago. Raymond Kwok was the first to arrive, but local reports say it took 10 minutes before his car could enter the building due to the waiting crowd. Brother Thomas arrived later, after Raymond had left. The brothers are co-chairmen of Sun Hung Kai, Asia's largest property developer. Both are linked to a bribery investigation that centres on payments to this man, Rafael Hui, a former head of Hong Kong's civil service. Hui was also at the ICAC Monday to renew his bail. The investigations have also snared estranged brother Walter, and netted Thomas Chan, a board member in charge of land purchases, No charges have been laid by the ICAC, and shareholders say Sun Hung Kai and the ICAC have not been transparent about the probe. Thomas and Raymond insist it's business as usual at the family conglomerate, but more than 7 billion US dollars has been wiped off the company's market value since the billionaire Kwok brothers were arrested in late-March Arnold Gay, Reuters.

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Hong Kong's Kwok brothers renew bail at anti-corruption body

Sunday, May 27, 2012 - 01:27