Corruption Probe
The Hong Kong business community was shaken by the arrest of SHK Executive Director Thomas Chan by the Independent Commission Against Corruption (ICAC) on 19 March. There were further shock waves when eight people linked to the company in the afternoon on 29 March 2012. Co-chairmen Thomas and Raymond Kwok and five others were arrested by the ICAC as part of an extensive corruption probe. Rafael Hui, former chief secretary, was also taken in for questioning. They were later released on bail. The probe caused a 15 percent fall in the company's share price, and a downgrading of the company's outlook.
Read more about this topic: Sun Hung Kai Properties
Famous quotes containing the words corruption and/or probe:
“Keep your hands clean and pure from the infamous vice of corruption, a vice so infamous that it degrades even the other vices that may accompany it. Accept no present whatever; let your character in that respect be transparent and without the least speck, for as avarice is the vilest and dirtiest vice in private, corruption is so in public life.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“Y’know scientists are funny. We probe and measure and dissect. Invent lights without heat, weigh a caterpillar’s eyebrow. But when it comes to really important things we’re as stupid as the caveman.... Like love. Makes the world go ‘round, but what do we know about it? Is it a fact? Is it chemistry? Electricity?”
—Martin Berkeley, and Jack Arnold. Helen Dobson (Lori Nelson)