Sun Hung Kai Properties' (0016) said on Tuesday that Maureen Fung Sau-yim has resigned as an executive director due to health issues, after she was reportedly involved in corruption linked to its Shanghai shopping mall project.
SHKP noted that it has arranged for a suitable colleague to assume Fung's duties, with related tasks and daily operations proceeding as normal.
Regarding its IAPM mall operation issues, the developer said it's currently reviewing the matter and will take appropriate follow-up actions.
SHKP's chairman Raymond Kwok Ping-luen attended the handover ceremony for "UBS Tower" at the International Gateway Centre in West Kowloon in the same day, while he declined to comment on the matter and departed quickly once the event had ended.
Fung has no disagreement with the board of the company and that she is not aware of any matters in relation to her resignation that need to be brought to the attention of the shareholders, according to an exchange filing.
On Monday, Reuters reported that Fung was suspended by the company last week due to her involvement in its shopping mall operation corruption case, which is related to the tendering for mall marketing events, advertising placements, and brand collaborations.
