Thomas Kwok Ping-kwong, the second son of Sun Hung Kai Properties' (0016) founder Kwok Tak-seng, was named senior director of SHKP's property arm Sun Hung Kai Real Estate Agency from January.
The younger Kwok was released from the jail last March after serving two-thirds of his five-year sentence over the bribery case of former chief secretary for administration Rafael Hui Si-yan. Last March, he said that he would study for at least nine months.
Kwok will focus on land planning and project strategy in the position, and will not participate in the group's daily operations.
The group said the appointment was in view of Kwok's rich experience in the land planning and project strategy in the group.
It added that he and his younger brother, Raymond Kwok Ping-luen, the chairman and managing director of the group, has led the group, developed the real estate business and has experienced multiple market fluctuations for more than three decades. I
t added that everyone in the group is looking forward to his return.
Kwok will receive performance-based remuneration as a director in Sun Hung Kai Real Estate Agency, but will not get a salary, as he is not an employee of Sun Hung Kai Properties.
Elsewhere, four companies halted their shares' trading on Thursday.
Century City International (0355), Paliburg (0617), Regal Hotels International (0078) and Cosmopolitan International (0120) suspended trading from 9 am on Thursday, all citing concerns with notifiable and connected transactions involving disposal and acquisition of shareholding interests in companies.
Thomas Kwok will focus on land planning and project strategy. SING TAO
