The arrest of two of the city's leading tycoons has shocked Hong Kong
Also arrested was the former second highest official in the bribery investigations
Comes as a number of scandals question government and business ties
Kwoks control the world's second largest property developer by market cap
Brothers at the helm of a company that helped build Hong Kong’s skyline and the man who once was the city’s number two official were arrested in an investigation of a bribery case has shocked the former British colony.
Thomas Kwok, 60, and Raymond Kwok, 58, and their families control Sun Hung Kai Properties, which built the city’s three tallest skyscrapers. The billionaires were taken into custody by the city’s Independent Commission Against Corruption.
Share price Sun Hung Kai, the world’s second largest property developer by market capitalization, was down as