Hong Kong
(AsiaNews) - Walter Kwok, the former chairman of Sun Hung Kai (SHK), the
largest building empire, was arrested by the Anti-Corruption Commission in an
investigation that already involves two other Kwok brothers. Walter Kwok is
suspected of violating the city's anti-bribery laws.
Kwok was arrested last
night, but was released on bail. The sale of SHK shares, suspended in
the morning, was re-opened at 1 o'clock in the afternoon so far have lost 1.7%.
Since March 29, when the other two brothers, Thomas and Raymond Kwok, were
arrested SHK shares have plunged a massive 16%.
Raphael Hui, former government secretary and No. 2 power in Hong
Kong, is also involved in the investigation, throwing light on the
ambiguous government policies in construction, in an area where houses are the
most expensive in the world.
SHK, whose market value is 32 billion U.S. dollars, is the owner of the
International Commerce Centre, the tallest building in Hong
Kong, with 118 floors. The company also has many luxury homes projects
in Wrst Kowloon and in the south of Hong Kong.
All three brothers, all free
on bail, declare themselves innocent. The public issue of corruption, is compounded
by private a conflict: in 2008, Thomas and Raymond took the Presidency from
Walter, accusing him of mental incapacity, for which he sued them in court.
The company said that Walter's arrest "has not affected and will not
affect the normal business and operations of the group".