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HK tycoon Lim Por-yen passes away at 93
Ninty-three-year-old business tycoon and Asia Television Ltd (ATV) honorary chairman Lim Por-yen died at a hospital Friday morning. In a press conference Friday afternoon, doctors said Lim was admitted into hospitals with lung infection but the complications caused a kidney failure. In a statement, ATV board chairman Wong Po-yan and chief executive Chan Wing-kee mourned Lim's death. Lim began his career in Hong Kong as a garment manufacturer and founded Lai Sun in 1947 that later developed into a conglomerate, encompassing real estate, hotels, media and entertainment. In 1988, his family bought one-third shares of ATV, one of Hong Kong's two free-to-air TV networks, and became its biggest shareholder six years later. But he sold his stake while he was facing corruption charges in Taiwan's biggest bribery scandal. Lim was convicted in 1999 for paying US$4.1 million as bribes to officials in Taiwan to gain at least 900 million Taiwan dollars (US$28.6 million) through a land deal. He got a two-year jail term but considering his advanced age, Taiwan agreed to let him return to Hong Kong. He had appealed against his conviction after posting a record bail of 40 million Taiwan dollars (US$1.3 million). Taiwan's High Court said yesterday that Lim's appeal was still under review but proceedings would be dropped because of his death. In his later years, Lim contributed to the country and the local community through many public services. He was an adviser to Beijing on Hong Kong affairs, and served on the Preparatory Committee and Selection Committee of the SAR. He was also a founding member of the Better Hong Kong Foundation. |
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