Date
19 August 2017
Lau Ming-wai has reportedly agreed to be No. 2 in the proposed technology bureau. Photo: HKEJ
Lau Ming-wai has reportedly agreed to be No. 2 in the proposed technology bureau. Photo: HKEJ

Chinese Estates chief tapped for planned tech bureau

Chinese Estates chief executive Lau Ming-wai has agreed to be a key official in a proposed technology bureau.

The elder son of Hong Kong tycoon Joseph Lau will become an undersecretary in the new agency, Ming Pao Daily reported Tuesday, citing a conversation between Chief Executive Leung Chun-ying and a mainland official.

The talk took place during Monday’s inauguration of a stem cell center established by Sweden’s Karolinska Institute, the report said.

The younger Lau became chief executive of Chinese Estates Holdings Ltd. (00127.HK) last year after his father was convicted by a Macau court and jailed five years and three months for bribery and money laundering.

Queries to the Chief Executive Office and Chinese Estates went unanswered.

With the proposed bureau facing legislative resistance, Leung urged lawmakers to approve funding, saying the top positions have been filled.

Earlier reports said Nicholas Yang, executive vice president of the Hong Kong Polytechnic University, will be appointed to head the bureau.

Meanwhile, the younger Lau donated US$50 million to set up the Ming Wai Lau Center for Regenerative Medicine which will specialize in spinal injuries and undertake research on Parkinson’s disease, heart attacks and stem cell liver transplant.

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TL/AC/RA

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