Hong Kong’s Kwok brothers under graft probe

Hong Kong’s Independent Commission Against Corruption (ICAC) yesterday arrested the chairmen of Sun Hung Kai Properties Ltd, brothers Raymond and Thomas Kwok, on suspicion of corruption. No more details were provided on the motives for the arrest. They were released early this morning. The Kwoks’ assets are valued at HK$18.3 billion (US$2.3 billion), the second-biggest family fortune in Hong Kong after Asia’s richest man, Li Ka-shing, founder of rival developer Cheung Kong (Holdings), according to Forbes magazine. Telecommunications company SmartTone, which provides mobile services in Macau, is a subsidiary of Sun Hung Kai Properties. The ICAC also said it had arrested a former senior government official, whom the South China Morning Post identified as former chief secretary Rafael Hui, who has worked as a special adviser to Sun Hung Kai. He has also been released.