Tycoon denies bribery claim

Business | 18 Apr 2012

Chinese Estates Holdings (0127) chairman Joseph Lau Luen-hung yesterday denied bribing ex- Macau official Ao Man-long.

In a filing to the local bourse, Lau said he had not given Macau's former secretary for transport and public works "an unlawful advancement or bribe."

Macau's Court of Final Appeal alleged on Monday that Lau gave Ao some 20 million patacas (HK$19.4 million) to secure five parcels of land on Taipa.

A company owned by Lau and South China Football Club chairman Steven Lo kit-sing won the tender for the sites, located opposite Macau's airport.

Lau said he was not a co- defendant but was asked by the court to be a witness.

He said he was not charged in either Hong Kong or Macau.

The sites in question - along Avenida Wai Long, Taipa - were developed by Chinese Estates into a residential project.

Ao was convicted on dozens of corruption charges in 2009 and is serving a jail term of 28 years. He faces six other corruption and three money laundering charges.

Trading of Chinese Estates shares was suspended yesterday but will resume today. KAREN HA

Search Archive

Advanced Search
August 2020

Today's Standard

Yearly Magazine

Yearly Magazine