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More charges for SHKP chiefs

Published on February 14th, 2014

More graft charges have been lined up against the co-chairmen of Sun Hung Kai Properties.

In an amended indictment, the prosecution yesterday pressed two additional charges against Raymond Kwok Ping-luen – a bribery charge and a count of conspiracy to commit misconduct in public office. He now faces four charges.

His elder brother, Thomas Kwok Ping-kwong, was charged with an extra count of bribery, taking to three the number of charges against him.

SHKP shares have fallen nearly 20% in the past 12 months, but this is only slightly worse than the 17% the Hang Seng Property Index has fallen and the new charges have made no difference to the current share price.

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