HK Hang Lung conglomerate appoints Swire's Chen as managing director

20:59, April 27, 2010      

Email | Print | Subscribe | Comments | Forum 

Hong Kong's conglomerate of Hang Lung Group Ltd. and Hang Lung Properties Ltd. said Tuesday the two companies will name Chen Nan Lok, outgoing executive director of Swire Pacific Ltd, as managing director for both companies, effective from July 15 this year.

In a joint statement filed to the Hong Kong exchange, Hang Lung Group and Hang Lung Properties said 54-year-old Chen will succeed Yuen Wai Leung, who will retire on July 14 this year.

Chen, who was also deputy chairman of non-executive director of Cathay Pacific Airways, has been with the Swire group for 33 years. He has been a director of Swire Pacific since May 2005 and Cathay Pacific Airways since March 1997.

Chen said last week that he had decided to leave the Swire group at the end of June this year.

Shares of Hang Lung Group Ltd. went down 3.35 percent on Tuesday to close at 39 HK dollars (5.03 U.S. dollars). Hang Lung Properties closed at 29.2 HK dollars per share, down 2.61 percent. Combined market value of the two companies stood at 173.28 billion HK dollars by Tuesday's closing.

Swire Pacific A-shares were down slightly by 0.49 percent to 91. 95 HK dollars in the day.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion