SHKP yesterday announced that Kwong Siu-hing, mother of the Kwok brothers, has been re-appointed the company's chairperson.

Kwong took up the non-executive post of company chairperson on May 27 for six months after former chairman Walter Kwok was stripped of all powers by the board.

An SHKP spokesperson said that there is no specific time limit for Kwong's term in office.

Kwong did not attend the company's annual general meeting yesterday, but Thomas Kwok stressed that the company's management has been stable.

Kwok said that the delay of some of the projects earlier this year has nothing to do with the reshuffle of the management, saying the delay is mainly due to construction problems. He believed that the affected projects would be completed on schedule.

In addition, Executive Director Michael Wong said, the company had earlier appointed an independent accounting firm to examine the company's corporate governance.

Wong said the investigation's result indicated the company's land bidding and tender procedures are up to its internal standard. Asked about Walter Kwok's earlier statement that the company's land policy is problematic, Wong said the accusation is baseless.

Walter Kwok yesterday said that he is happy to be re-appointed as the company's executive director. But he declined to make any comment on Wong's remark, saying he needs time to study the result of the independent probe.

(HK Edition 12/05/2008 page2)