CY Leung is facing mass demonstrations by pro-democracy activists who see him as Beijing’s man
The Australian firm at the centre of a storm over an multimillion-dollar payout to Leung Chun-ying has just released a statement. Leung, who worked with the firm before he became Hong Kong’s chief executive, allegedly failed to disclose a HK$50 million payment in the past two years from engineering company UGL Limited. The leader is facing questions over possible misconduct in relation to the contract.
However, in an October 9 statement, UGL defended both the deal and the decision not to declare it. It said the contract was a normal business arrangement, made after it acquired in December 2011 the subsidiaries of Leung’s former employer, DTZ Holdings.
UGL said the payment to Leung was made in relation to “non-compete, non-poach and DTZ senior management retention provisions” after it acquired subsidiaries of DTZ. Leung founded DTZ’s North…
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