‘Treasure what you have now,’ tycoon Thomas Kwok declares after Hong Kong court releases him on bail ahead of appeal

‘Treasure what you have,’ says SHKP billionaire turned theology student

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Thomas Kwok Ping-kwong (centre left) hugging his son Adam Kwok outside court in Central. Photo: Sam Tsang

Published: 1:30pm, 12 Jul 2016Updated: 11:38pm, 12 Jul 2016

Jailed property tycoon Thomas Kwok Ping-kwong was freed on bail on Tuesday as the city’s top court allowed him and three accomplices to appeal against their convictions for corruption, but sent the others back to prison.

The ruling sets up a final legal showdown featuring the city’s highest-profile graft case next year. Kwok, convicted of bribing former No 2 official Rafael Hui Si-yan with HK$8.5 million, was released on HK$10 million cash bail after having served 18 months behind bars.

While his newfound freedom may be temporary, a celebratory mood took over outside court as the 65-year-old former co-chairman of Sun Hung Kai Properties (SHKP) hugged his son Adam twice, saying he was “excited” and reminding everyone to “treasure what you have”.

“When you have lost something, then you know how precious life is,” he said. The first thing he would do was dine with his aged mother, Kwok said.

While allowing all four to seek an appeal, the Court of Final Appeal struck out all but one of their grounds for a new hearing, agreeing only to hear arguments on whether the former chief secretary’s “favourable disposition” to the property giant was a strong enough criminal element by bribery law standards.