Sun Hung Kai Properties’ Family Reaches Deal on Interests
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Sun Hung Kai Properties Ltd. said former Chairman Walter Kwok resigned as a non-executive director after the family reached an agreement on its interests in Hong Kong’s second-largest developer by market value.
Walter Kwok and his family received the same entitlement to shares in the company as his brothers and their families, said the statement. That restores Walter, the eldest son of late company founder Kwok Tak-seng, as a beneficiary of the family trust.