Swire Pacific ( SWRAY ) One of the wealthiest business management owned by Hong Kong, released a strongly-worded statement on Tuesday. The company condemned "illegal activity and violent behavior" and threw its support behind the Hong Kong government .
"Swire Pacific is extremely concerned about the ongoing violence and disruption that is affecting Hong Kong," the company said in a statement, offering full support for Hong Kong Chief Executive Carrie Lam and city police "in their efforts to restore law and order."
Company CEO is billionaire Merlin Swire. The family business empire dates back more than 200 years and has its roots in Hong Kong most of the time. It owns expensive hotels, office towers and high-end shopping malls in the city.
Swire was also the largest shareholder in Cathay Pacific ( CPCAY ) Hong Kong's flagship aircraft became a high profile casualty of excitement. Swire said it fully supported the carrier's "strict implementation" of new aircraft restrictions issued by China's aviation authority over the weekend.
The announcement came as hundreds of protesters flocked to Hong Kong airport at the international airport, disrupting flights the second day in a row.
Cathay has canceled more than 270 flights in the last two days. Shares in the carrier fell almost 1
4% this month.
Property tycoon: Time to "think deeply"
Sun Hung Kai Properties, controlled by Asia's third richest family, the Kwoks, was also called in Tuesday for the demonstrators to stop the violence. The property developer has called for the restoration of social order and has expressed support for the Hong Kong government and Lam. success by getting the government to come up with a controversial extradition proposal that originally sparked protests.
"It's time to think about it," Woo said in a statement Monday. "Opposition to the extradition bill is the 'big tree' of this movement. But this one, the big appeal was accepted by the government on July 9. So the tree fell." Some people use the issue to "intentionally provoke the problem," he added.
Hong Kong has some of the most expensive real estate on the planet, but protests are now threatening its economy. City officials have warned that the disruption could have far more lasting effects than the outbreak of the deadly SARS virus in 2003 that plagued the lucrative tourist trade. Real estate, among other industries, can be a big hit.
Why Hong Kong Protests
The Hong Kong protest movement began strongly in June. This has been sparked by the extradition bill, which many fear Beijing could use to break the deadlock.
Since then, demonstrations have expanded to something bigger. . The protest movement – now entering its 11th week – has repeatedly seen protesters and police.
Laura contributed to this report.