| Recommended: Hong Kong property developer loses $4.9 billion in one day
Thomas and Raymond Kwok, two brothers who control Sun Kai Properties, the second largest property firm in the world, were arrested by Hong Kong's Independent Commission Against Corruption Thursday, scandalizing the city. By the end of 2011, Sun Hung Kai was reported to have a land bank of 46. The group also owns 26 million square feet of farmland in Hong Kong's New Territories that is along the way of receiving planning permission to be converted to building land. That translates into an astounding amount of property under Sun Hung Kai's control in a city where land is extremely precious. If so, the arrests one again underscore the tight relationship between Hong Kong's government and local property developers, both of whom are in a perpetual race to keep up with the housing demands in the world's most densely populated city. Thomas Kwok (R) and his younger brother Raymond Kwok, both Vice Chairman five billion dollars can be lost in one day based on absolutely NO information. Religion has nothing to do with morality. Example, see how far (US) Confederate money will take you. Just commenting on the latest liberal attempt to distract us from seeing the current failed administration and it's lackeys for what they are. You seem to have taken the bait big time. Ray Kwok? Didn't he found McDonald's in Asia? That was extraordinarily good. President Obama needs to recognise that crony capitalism can be a failed policy. Wow- "dethroned" the old man, and now arrested for financial hanky-panky? So much for those old time evangelical christian beliefs. With the support of their mother, the two brothers charged Walter with being unfit to run the business and after a nasty struggle, eventually took over. But the relationship between real-estate developers and the government has long been a source of simmering tensions in the crowded city. As for humans having 'value', not even. Warfare, especially superstition (religion) based warfare demonstrates the lack of value as does life in various cultures. What worth do poor folks without medical insurance have, in the US, when it comes to expensive medical treatment? Thank you for visiting Christianity china, The Kwok's are the worst kind also. You truly are turning to capitalism. In 1997, Walter was kidnapped and held for a week before his family paid a ransom of more than $77 million to have him released. Walter returned to the company after his release, but eventually the family relationship unraveled when Thomas and Raymond Kwok dethroned Walter in 2008. Our politiicans, including the current administration could learn something from Hong Kong. One major difference is that you will never see a government bailout there. Business investment and opportunity for all fluorishes in Hong Kong. You either sink or swim. Good job!. The Elite are worldwide. shocking, wealthy hands in the pockets of politians. Medic, can not see where evangelical christian beliefs are involved in any way with this story. I'm not a religious guy. Recommended: Hong Kong property developer loses $4.9 billion in one day |
Saturday, 31 March 2012
Recommended: Hong Kong property developer loses $4.9 billion in one day
