Government and corporate leaders in Hong Kong are mourning the death of Marvin Cheung Kin-tung, the former chairman of the Airport Authority and a board member with several listed firms in the city.
Chueng, 67, passed away Saturday morning after suffering from leukemia. He was admitted three weeks ago to the Hong Kong Sanatorium & Hospital due to severe ill health. His condition deteriorated on Friday and he passed away the following day with his family near the bedside.
The industry veteran resigned from his position at the Airport Authority Hong Kong in May due to health issues, and also stepped back from his work at HSBC Holdings plc (00005.HK) in August.
He was a non-executive director of HSBC, and also served on the boards of some other listed firms including Hong Kong Exchange and Clearings Ltd. (00388.HK). He had also been a member of the Executive Council and a legislative councilor at one time.
Apart from these, Cheung was an important pillar of the Hong Kong University of Science and Technology (HKUST).
Hong Kong’s chief executive CY Leung and the city’s former leader Donald Tsang were among the people who visited Leung when he was in the hospital.
Leung paid tribute to Cheung’s contribution to public service, financial services and the education services sectors in Hong Kong.
Peter Wong Tung-shun, chief executive of The Hongkong and Shanghai Banking Corp. Ltd., said Cheung had contributed a lot to the development of the accounting and financial industry and that he had offered valuable advice for the HSBC group.
Cheung was diagnosed with acute leukemia in 2006. He re-joined the Executive Council after getting medical treatment in the United States.
Cheung had been with the Airport Authority for six years after taking over from Victor Fung Kwok-king, chairman of Li & Fung Ltd. (00494.HK). During his term, he had been involved in some controversial issues such as the third airport runway plan.
Vincent Lo, chairman of Shun On Land Ltd. (00272.HK), was appointed as a board member of the Airport Authority last year. Lo became the chairman in June and he will serve the authority for a year before swapping jobs with Trade Development Council chairman Jack So Chak-kwong.
Cheung had also resigned from non-executive directorship at Hang Seng Bank (00011.HK) in August. He was the chairman and chief executive of KPMG Hong Kong, one of the big four auditors, before being appointed as a non-executive director of a few listed companies including Sun Hung Kai Properties Ltd. (00016.HK).
He had served as a councilor of the Urban Council and Legislative Council before Hong Kong’s return to Chinese rule in 1997. He was appointed as a member of Executive Council by Donald Tsang and became the chairman of the HKUST Council and the council member of Open University Hong Kong.
Secretary for Education Eddie Ng Hak-kim said the HKUST had firmly established itself as one of the world’s top-tiered universities, thanks to Cheung’s sterling leadership. His passing is a great loss to the higher education sector, Ng said.
Cheung was appointed as a Justice of the Peace in 1991 and was awarded the Gold Bauhinia Star in 2008.
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