Sun Hung Kai Properties Ltd., the world’s second-biggest developer by market value, set a lower sales target for this year and said it will build more small apartments as Hong Kong stepped up measures to curb prices.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Sun Hung Kai Properties Ltd. Co- Chairman Raymond Kwok denied any wrongdoing and his brother Thomas said it was business as usual five days after Hong Kong’s anti-graft regulator detained the pair as part of a bribery investigation.
Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd., pleaded not guilty to corruption charges involving payments and loans to Hong Kong’s former No. 2 official Rafael Hui.