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Hong Kong tycoon Cheng Yu-tung dies aged 91

Saturday, October 1, 2016 - 05:50
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EMPIRE BUILDER: Mr Cheng's business spans jewellery, real estate, hotels, infrastructure and telecommunications.

Hong Kong

THE billionaire founder of Hong Kong property group New World Development Co Ltd, Cheng Yu-tung, died late on Thursday aged 91, the company said on Friday.

Mr Cheng amassed an over US$16 billion fortune building an empire that spans jewellery, real estate, hotels,

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