A shop in Causeway Bay, owned by relatives of Chinese billionaire Xiao Jianhua, the founder of the troubled Tomorrow Group, was sold at a massive loss as they start unwinding their property portfolio in the city.On Thursday, Xiao Yonghong and Sun Darui, the younger sister and brother-in-law of the missing tycoon, offloaded a 337 square feet retail unit at Causeway Place shopping centre for HK$18 million, according to Land Registry data. The couple had paid HK$26.23 million (US$3.34 million) in…
Source : South China Morning Post
Read more…Missing tycoon Xiao Jianhua’s relatives sell Causeway Bay shop for a massive 31 per cent loss















