Jump to content

Walter Kwok

From Alfawiki

Walter Kwok Ping-sheung was a late Hong Kong entrepreneur, founder and former chairman of Empire Group. He was the eldest son of Kwok Tak-seng, co-founder of Sun Hung Kai Properties, and the elder brother of Kwok Ping-keung and Kwok Ping-luen. The Kwok brothers were once the second richest family in Hong Kong, only behind Li Ka-shing, with a net worth of 24 billion USD, equivalent to HKD 187.3 billion.[1]

Between 15 November 1990 and 8 May 1997, Kwok served as a director of Kowloon Motor Bus Company and Long Win Bus Company. Starting from 4 September 1997, he served as director of Transport International Holdings. He was formerly chairman and CEO of Sun Hung Kai Properties, non-executive director of i-Cable Communications, director of Wilson Parking (HK), Hung Cheong Import & Export Ltd., director of the Real Estate Developers Association of Hong Kong, director of East Tsim Sha Tsui Property Developers’ Association Ltd., and honorary treasurer of the Hong Kong Hotels Association.

In community service, he was past chairman of The Community Chest of Hong Kong, a trustee of the Lord Wilson Heritage Trust, a member of the Young Presidents’ Organization (China Chapter), and a member of the Hong Kong Committee for Pacific Economic Cooperation. He also served as a member of the MBA Advisory Board at the Chinese University of Hong Kong and honorary advisor at the Hong Kong University of Science and Technology. He was also named honorary citizen of Beijing and Guangzhou and served as a member of the Chinese People's Political Consultative Conference and vice chairman of the All-China Federation of Industry and Commerce.

Biography

Early Life

Kwok's family was involved in wholesale and grocery businesses. He graduated from Salesian School in 1960,[2] and then attended Salesian English School, completing Form 5 in 1965. He pursued further studies in the United Kingdom, graduating from Ellesmere College in 1968 and obtained a master’s degree in civil engineering from Imperial College London, University of London, in 1972. He was a member of the Institution of Civil Engineers and a fellow of the Hong Kong Institution of Engineers.

Kidnapping Incident

On 29 September 1997, Kwok was kidnapped by Hong Kong crime syndicate leader Cheung Tze-keung, known as “Big Spender”. While driving to his residence on Deep Water Bay Road, he was ambushed and abducted, held captive in a village house in the New Territories. Refusing initially to call home for ransom, he was beaten daily until he eventually phoned his wife to request HKD 2 billion. During captivity, he was stripped, confined to a wooden crate, forced to curl up, and given only barbecued pork rice and water. On 3 October, HKD 600 million was paid, but he was released only the following day. The ordeal left Kwok severely traumatized. In 2008, he revealed in an international media interview that he had developed depression following the kidnapping and recovered after more than a year of treatment.[3]

Suspension Incident

On 18 February 2008, Sun Hung Kai Properties announced that chairman and CEO Walter Kwok was taking leave of absence for personal reasons, with vice chairmen and managing directors Kwok Ping-keung and Kwok Ping-luen assuming his duties. The company did not elaborate on the reasons or the duration of the leave.

According to Sing Tao Daily and The Standard, Kwok wanted to bring his trusted confidante Ida Tong into the company, which was opposed by his brothers. Their mother, Kwong Siu-hing, sided with the younger brothers for family unity, resulting in Kwok’s suspension. Kwok had also secretly formed a new company, Sun Hung Kai International Ltd., which raised concern about confusion with the main company.[4]

Kwok issued a personal statement saying he planned to travel for two to three months to Beijing, the United States, and elsewhere before returning to resume duties.[5] On 23 May 2008, after losing a legal injunction, Kwok lost control of the company. His lawyer Ronny Tong considered an appeal, citing a reinstatement agreement.[6][7] However, board member Lee Shau-kee advised him to "listen to your mother."[8] The Court of Appeal eventually dismissed his case.[9]

In January 2014, the three Kwok brothers agreed to divide their Sun Hung Kai Properties shares equally. Walter Kwok resigned as non-executive director to focus on his own ventures.[10]

Founding Empire Group

After stepping down from Sun Hung Kai, Kwok co-invested in residential projects like “The Beverly Hills” and partnered with Lai Sun Development to acquire residential land in Tseung Kwan O.[11]

In 2010, after receiving HKD 20 billion in the family asset split, Kwok launched “Empire Group”. In April 2016, he founded “Kwok Scholars Association Ltd.”, with himself as a founding member. In June and July, he renamed Legacy Group and Lap Hung as “Building Nation Construction Engineering” and “Empire Group Consultants”, respectively.[12]

Involvement in Rafael Hui Corruption Case

On 4 May 2012, Sun Hung Kai Properties announced that Walter Kwok had been arrested by the Independent Commission Against Corruption on suspicion of violating the Prevention of Bribery Ordinance. He was later released on bail.[13] He was linked to former Chief Secretary Rafael Hui’s corruption case but was not found criminally liable and was released in October 2013.

Death

On the night of 27 August 2018, Kwok collapsed from a stroke at his Deep Water Bay residence and was admitted to Ruttonjee Hospital. He remained in a coma, reliant on life support. He passed away on 20 October at Hong Kong Adventist Hospital – Stubbs Road at the age of 68.

Honors

  • Knight of the Order of Arts and Letters (France, 2004)
  • Knight of the Legion of Honour (France, 2008)

Family

Kwok's first wife, Lydia Kui, was an executive at HSBC and a Stanford graduate. Her father owned a business named Ko San Kee. His father, Kwok Tak-seng, favored the match, and they married in 1982, but the union ended after half a year due to Kwok’s unwillingness. His second wife, Lee Tin-ying, came from a family of doctors and met Kwok in the UK. They had two sons and a daughter: Geoffrey (Kwok Kee-chun), Jonathan (Kwok Kee-ho), and Lesley (Kwok Wai-shan).

Kwok’s confidante Ida Tong, three years older, met him in the 1960s but was separated due to his father’s disapproval. She married a doctor in 1971. After Kwok’s 1997 kidnapping, the two rekindled their relationship. In 2002, Kwok’s mother drafted 11 family rules to restrict Tong’s access to family businesses, hotels, and offices.

In August 2018, Tong attempted to visit Kwok in hospital but was denied by Lee Tin-ying. She was devastated upon learning of his death in October, having missed the chance to say goodbye.

  • First wife: Lydia Kui (1982–1983)
  • Second wife: Lee Tin-ying (–2018)
    • Son: Geoffrey Kwok Kee-chun (b. 1985)
    • Daughter: Lesley Kwok Wai-shan
    • Son: Jonathan Kwok Kee-ho

See also

  • Kwok Tak-seng family

References

  1. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-1
  2. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-Who's_who_in_Hong_KongP211_2-0
  3. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-4
  4. ↑ Refused to Abandon Confidante, Lost Inheritance – Walter Kwok Sidelined
  5. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-6
  6. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-eastweek_7-0
  7. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-8
  8. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-9
  9. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-10
  10. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-11
  11. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-12
  12. ↑ https://zh.wikipedia.org/wiki/%E9%83%AD%E7%82%B3%E6%B9%98#cite_ref-13
  13. ↑ Walter Kwok Released on Bail |publisher=RTHK |date=2012-05-04

External links

Retrieved from "https://www.alfawiki.org/index.php?title=Walter_Kwok&oldid=2325"