Hong Kong lawmakers warn of potential loopholes in proposed building maintenance rule changes aimed at tightening proxy votes and oversight after the Tai Po fire, as the Competition Commission raids sites in a major bid-rigging case.
District councillor Peggy Wong and Prestige Construction directors Gordon Ho and Hau Wah-kin deny allegations of gift bag exchanges for proxy votes and bid-rigging in Wang Fuk Court renovation contract selection.
Strategy's Michael Saylor hints at pending Bitcoin holdings news ahead of a shareholder vote on switching to semi-monthly dividends for STRC shares, amid recent BTC price drops and debt repurchase pause.
Former management committee member Jason Kong Cheung-fat exposes proxy vote abuse at Wang Fuk Court in Tai Po, where a November 2025 fire killed 168 people — the deadliest in Hong Kong since 1948. The HK$336 million renovation contract was awarded to Prestige Construction and Engineering in January 2024 after 570 votes were cast at a meeting attended by only 293 people, with homeowners forced to pay up to HK$180,000 per flat within six months.
The 15th day of public hearings into the deadly Wang Fuk Court fire heard testimony about proxy ballot manipulation and fire safety failures. Witness Kong Cheung-fat alleged election rigging and detailed how the owners' corporation failed to oversee renovation contractor Prestige Construction, which used flammable materials despite warnings. The November 2023 fire killed 168 people and left nearly 5,000 homeless.
