Kwong to continue as chairperson

Updated: 2008-09-12 07:35

By Kwong Man-ki(HK Edition)

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Kwong to continue as chairperson

Kwong Siu-hing, the matriarch of the Kwok family, is likely to continue as the SHKP chief. She was appointed chairperson to replace her eldest son Walter Kwok, the former chairman of Sun Hung Kai Properties (SHKP), in May after a family feud.

"Personally, I believe that Ms Kwong will stay as a chairperson," said Kwong's son Raymond Kwok, vice chairman and managing director of SHKP. "I haven't heard that she wants to step down," he added.

According to SHKP's statement in May, Kwong, who is the mother of Kwok brothers Walter, Thomas and Raymond, was appointed to replace Walter as a chairperson until the annual general meeting in December.

Thomas and Raymond refused to comment if their elder brother Walter will come back or not. "Chairman appointment should be decided by the board," said Thomas, another vice chairman and managing director and second son of Kwong.

After Walter Kwok was forced to step down, he said in an interview earlier that the SHKP should reduce the Kwok family's influence on its management. His suggestion was strongly opposed by the SHKP earlier. Raymond Kwok emphasized that the company has paid much attention to corporate governance. "We always invite consultants to review our corporate governance and also international control."

Executive director Michael Wong added that the company will consider Kwok's suggestion.

Describing the family feud as an "isolated incident", Thomas Kwok said: "We are united internally.".

And this was the first time that Thomas and Raymond responded to the family disputes on an official occasion. The two brothers were absent from the interim results press conference in March, as rumors spread after Walter Kwong's leave of absence in February.

(HK Edition 09/12/2008 page2)