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Kwok Kidnapping Still CASTING a SHADOW

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Kwok Kidnapping Still CASTING a SHADOW A4 Friday, April 6, 2012 FOCUS Former Sun Hung Kai Properties chairman Walter Kwok in 2010. He was physically and emotionally scarred by his 1998 abduction, which marked the beginning of a decline in his relationship with the rest of his family. Photos: Jonathan Wong; SCMP Pictures; Sam Tsang; Robert Ng Kwok kidnapping still CASTING A SHADOW You may have thought the arrest last week by the ICAC of the billionaire brothers Yip was jailed and remains in sour. Walter Kwok clashed with his frey still worked there. But he was Stanley Prison, paralysed from the siblings on the company’s strategy sidelined and finally left the company who head one of the world’s richest property dynasties was audacious. But a look bullet he took that night. But Big and investment decisions. some time ago,” the source close to back at the brazen and bizarre kidnapping which plunged the powerful family into Spender’s plan remained on track. In February 2008, SHKP an- the Walter Kwok camp said. On May 23, 1996, Victor Li’s lim- nounced that Walter Kwok would Walter Kwok’s close female crisis more than a decade ago offers much-needed insight and perspective on what ousine was intercepted by three cars take a temporary leave of absence for friend, Ida Tong Kam-hing, has been and the Cheung Kong number two personal reasons. suggested as a cause of the decision may have helped ignite the investigation, write Peggy Sito and Niall Fraser and his chauffeur were forced into a In May of that year, Walter Kwok – by Kwong to remove Walter Kwok car, blindfolded and driven to a run- after 18 years in the top job – lost the from the group. On Tuesday, Sun Hung Kai Proper- clude allegations of debts linked to mainland, had heard of Cheung Tze- down hut in Kam Tin. For good mea- battle for control of the property Kwong was reportedly afraid that ties chairmen Thomas Kwok Ping- him of more than HK$100 million, in- keung. But the man who was to be- sure a shot was fired into the limou- giant. He was demoted to non-exec- the interests of Walter Kwok’s family kwong and Raymond Kwok Ping- cluding an unsecured loan of HK$50 come known as “Big Spender” was sine to show that Big Spender meant utive director, and family matriarch would be damaged because of luen report back to the Independent million, and involving alleged ties be- destined for criminal immortality, "Big Spender" Cheung Tze-keung in business. Kwong replaced him as the chairman Tong’s interference in his business. Commission Against Corruption to tween the three men stretching back such was the scale and audacity of his a Guangzhou courtroom in 1998. Within 24 hours, a ransom of after he lost a legal fight to stop the The love story between Tong and answer more questions and face pos- years. plan. HK$1.38 billion was paid and Victor board discussing his ousting. Walter Kwok can be traced back to the kid- sible bribery and misconduct Land deals also form part of the Fresh from being acquitted over Li was free. Big Spender Cheung kept Kwok was sidelined amid accusa- napping 13 years ago. charges, along with former chief sec- investigation and could be related to the world’s biggest ever cash-in-tran- most of it for himself. Later, during tions – which he denies – that he was After his release, Kwok’s emo- retary Rafael Hui Si-yan – the highest- the arrest and release on bail last sit robbery at the old Kai Tak airport his trial on the mainland, he said he mentally ill. tional health deteriorated, but in ranking ex-government official ever month of Sun Hung Kai executive in 1991, Cheung and his gang of noto- If the three ... are was satisfied with the way the Li fam- The clash then intensified, trig- Tong he found a ready and under- to be arrested in the anti-graft agen- director Thomas Chan Kui-yuen, the rious crime figures were eyeing an- ily had handled the matter and gering a court injunction and allega- standing listener. Henderson Land cies’ nearly four-decade history . company’s land-acquisition chief . other, bigger, prize. charged by the pledged never to trouble them again. tions about irregularities and breach- Development chairman Lee Shau- The return of the three men to the None of those arrested have been At meetings in hotels across But he still wasn’t finished, and es of corporate-governance stan- kee, a long-time family friend, con- commission’s North Point head- charged. Guangdong which began in 1995, ICAC, the board turned his attention to Walter Kwok. dards within the company. firmed in 2008 that the Kwok-Tong quarters under the international “How could Walter not be spoken they plotted the acquisition of the should consider What happened next could, for On October 4, 2010 – 13 years after relationship had been a cause of the media spotlight will unfold amid to? Omitting him from inquiries automatic weapons and explosives many, be a key component in what family feud. continued speculation over the es- would be illogical, not to say a gross they would require to execute a plan who could run the lies ahead for both the ICAC investi- Lee said Kwok liked to talk to Tong tranged eldest Kwok brother – Walter dereliction of investigative duty,” to extort billions out of Hong Kong’s gation and the future of one of the because nobody else talked to him. Kwok Ping-sheung – and his role in said a source with a knowledge of the richest and most powerful families. company world’s most successful property-de- “It is natural that you would like to the investigation which has rocked investigation. Top of their list was the Li family, velopment companies. talk to someone who listens to you,” A SOURCE CLOSE TO WALTER KWOK Hong Kong. So, when Thomas Kwok, 60, his headed by Asia’s richest man, Li Ka- Using a similar modus operandi, Lee said. Reliable sources have told the brother Raymond, 58, and former shing. Next came the Kwoks of Sun Big Spender’s heavily-armed gang $ “She sometimes gives Walter ad- South China Morning Post that the chief secretary Hui, 64, sit down Hung Kai. Further down the list of intercepted Walter Kwok’s limousine 20b vice. When you listen too much to a ICAC spoke to Walter Kwok, 61, prior across the interview-room table from targets was then chief secretary An- on the evening of September 26, 1997 woman, your mind gets confused.” to the arrest of his brothers. However, newly promoted ICAC assistant son Chan Fang On-sang. in Beach Road, Repulse Bay. At first The amount, in Hong Kong dollars, In an interview with the South the exact nature, content and timing director of operations Ricky Yu As the plan came together, the the kidnapping followed along the offered to Walter Kwok by his China Morning Postin late October of of the meetings are unclear. Other Chun-cheong – who is leading the gang identified Li’s son, Victor Li same lines as Li’s had: Walter Kwok siblings to settle their feud – 2010, Walter Kwok confirmed that his well-placed sources close to the in- high-profile investigation – we won- Tzar-kuoi, and Walter Kwok as the was blindfolded and taken to a hut in an offer he refused siblings had offered him HK$20 bil- vestigation say the estranged brother der if minds might wander to the day men they would target first. the New Territories. lion to settle the family feud, but the was not the catalyst for the arrests. 15 years ago when a group of very dif- The run-up to the kidnaps was far However, the elder Kwok refused eldest scion did not accept. The two scenarios are not mutual- ferent men began secretly plotting to from plain sailing. One of Big Spend- to call his family to prepare a ransom. “HK$20 billion is not a fair valua- ly exclusive and one thing is certain: kidnap Hong Kong’s top 10 tycoons, er’s right-hand men, at the time As a result he was stripped to his Walter Kwok was released from the tion,” Walter Kwok had said. the well-publicised Kwok family split one by one. Hong Kong’s most wanted – Yip Kai- underwear, beaten and forced into a kidnappers – the clash reached a new Asource close to Walter Kwok said gave fresh impetus into what has The year was 1997 and the city had foon – arrived by boat in Western makeshift wooden cage. Eventually height, with his mother Kwong re- that the negotiations among the fam- been a long-running investigation just been returned to China after 156 with a cache of weapons for use in the he capitulated and called his wife. moving him as a beneficiary of a key ily were continuing. into Hui. years of British colonial rule. No one, plot, but was intercepted by police What followed was a murky series trust that holds a controlling stake in Asked whether Walter Kwok The Hui inquiry is believed to in- apart from police here and on the and shot. of ransom negotiations over a period the HK$251.17 billion Sun Hung Kai would have a chance to go back to of days, with Cheung and his gang Properties empire. run the property empire again, the communicating with Kwok family Walter Kwok was excluded in a re- source said: “It is not his decision, it is matriarch Kwong Siu-hing, Walter organisation of the family trust that the board’s decision.
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