11 August 2014 - Former chairman of Wheelock (0020) Peter Woo Kwong-ching, who ran for the first Chief Executive post in 1997 and has been a Chinese People's Political Consultative Conference Standing Committee Member for more than a decade, spoke to the press and stated that politics is a luxury and he wants young people to know that.
Peter Woo stepped down from the property giant earlier this year and appointed his 36-year-old son, Douglas Woo Chun-kuen, as Chairman of Wheelock to take over his HK$300 billion empire.
Douglas is now one of the youngest chairmen among all Chinese family-owned listed companies in Hong Kong. At the Shareholders Meeting in June he predicted that the cooling measures imposed on Hong Kong's property market will last for 2 to 3 more years. He also stated that Wheelock’s 2014 sales target of HK$10 billion remains unchanged.
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