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HK property tycoons hit with additional charges in bribery case

Published on Feb 13, 2014 3:33 PM
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Billionaire brothers Raymond Kwok (left) and Thomas with their mother Kwong Siu-hing in 2010. Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd, had additional charges filed against them on Thursday, in a bribery investigation surrounding Asia's largest developer, the company said on Thursday, Feb 13, 2014. -- FILE PHOTO: ORIENTAL DAILY NEWS

HONG KONG (REUTERS) - Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd, had additional charges filed against them on Thursday in a bribery investigation surrounding Asia's largest developer, the company said on Thursday.

The Sun Hung Kai probe, Hong Kong's biggest corruption case since its anti-graft agency was formed nearly 40 years ago, involves one of Asia's most powerful families and the world's second-largest property company with a market capitalisation of US$33 billion (S$41.77 billion).

Thomas Kwok received an additional charge under the anti-graft law, while two additional charges for conspiracy to commit misconduct in a public office were laid against Raymond Kwok, the company said in a statement on the Hong Kong stock exchange.

The case will not affect its business and operations, the company said.

 
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