Hong Kong lawmaker Duncan Chiu owns 54 properties at home and overseas, more than any of the other 89 lawmakers, a review of their declaration of interests shows.
But Chiu indicated that he is considering selling his properties in the West, citing geopolitical risks and his limited time for managing them.
Chiu, the son of the late entrepreneur Deacon Chiu, represents the technology and innovation sector.
He is among the five lawmakers who have declared ownership of more than 10 properties, and one of nine with overseas holdings.
The Legislative Council mandates that lawmakers declare their property interests by the first meeting of each term to ensure transparency.
Following amendments that took effect this term, members must also register details such as the number, type and purpose of their land and properties.
Chiu’s portfolio comprises three properties in the United Kingdom; 33 in Foshan and one in Shanghai, mainland China; as well as 17 in Hong Kong, either solely or co-owned with family members.
He also owns six plots of land – one in Japan and five in the New Territories.
Chiu told the Post that most of the properties were bought in his early years as an investor.
“When I bought them, geopolitical considerations were minimal. I made decisions based on investment returns, but various factors need to be considered today, taking into account the geopolitical environment,” Chiu said, adding that he was considering disposing of some of them, particularly the overseas flats.
Other affluent lawmakers trail Chiu: Kenneth Fok Kai-kong owns 35 properties including two in France and the UK while Lau Ka-keung owns 23 shops on the mainland.
Kenneth Lau Ip-keung, a member of the city’s top decision-making Executive Council, leads in land ownership with 438 plots in the city and two on the mainland, in addition to 14 other properties.
Rock Chen Chung-nin, with 15 properties, including one in the UK and two in Vietnam, said he was not worried about potential risks.
“That [UK] property accounts for a very small portion of my portfolio, so I have not paid much attention to it,” Chen said.
Fellow lawmaker Johnny Ng Kit-chong, who owns four properties, said he was contemplating selling his home in Australia.
His other flats are in Hong Kong and the mainland.
“It was about balancing risk by diversifying assets across different locations when I bought the property. Now, there may be better alternatives rather than [investing] there,” Ng said, pointing to the geopolitics that undermined economic stability.
Aaron Bok Kwok-ming, representing the engineering sector, has six properties, including one in Britain.
He acknowledged that his property could become a target amid tense geopolitical relations because of his status as a legislator, but said he was not anxious about it.
“Even if it is targeted, I am just losing one property, I will not be overly concerned,” Bok said, adding that he had no plan to sell it.
Other lawmakers with overseas properties or land include Tam Chun-kwok, Andrew Lam Siu-lo, William Wong Kam-fai and Augustine Wong Ho-ming.
Twenty-seven lawmakers owned property or land in mainland China and Macau, while 17 declared no property interests.
Olympics gold medallist Vivian Kong Man-wai declared one residential property in the New Territories for rental.
Separately, 43 lawmakers, or 48 per cent, hold positions or serve as directors at mainland Chinese enterprises, most of which are state-owned.
The figure marked a slight increase from the previous Legco, when around 40 per cent of legislators had links to mainland businesses.
Five had ties to the Bank of China, including Ronick Chan Chun-ying, an adviser to the bank, and Carmen Kan Wai-mun, the bank’s general counsel.
Another five were affiliated with the China Merchants Group, including Tang Ka-piu, who served as the director of the social work department at China Merchants Group (Hong Kong).
Tang said his position could help leverage the group’s resources in serving those in need. -- SOUTH CHINA MORNING POST
