Red paint was splashed on the entrance to the home of the CEO of one of Hong Kong’s largest restaurant chains on Wednesday morning, with police investigating whether the vandalism was the result of a monetary dispute.
Workers on Wednesday could be seen cleaning the paint-daubed gate of Fulum Group CEO Yeung Wai’s house, on Yuen Long’s Kam Pok Road.
Police said they first received a report at 6.07am saying around eight men armed with knives were arguing outside the house over a financial matter, though no one was reported injured.
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“Officers did not see anyone upon arrival at the scene, but spotted the red paint on the house’s plaque and gate,” a police spokesman said, adding that no one had been arrested.
Police have classified the case as one of criminal damage, with authorities in Yuen Long district investigating the incident.
Fulum Group, which operates Chinese restaurants, was founded in 1992 by three brothers – Yeung Wai, Yeung Yun-chuen and Yeung Yun-kei - and has since grown to include more than 70 eateries around town.
Last month, the group shut its Fulum Palace Chinese restaurant in North Point, with a notice at the branch saying it would be “gloriously closed” due to the expiration of its lease. The group also shut its Fulum Palace in Sheung Shui in February of 2020 as the coronavirus pandemic hit.
Responding to the closure of the North Point branch, the Federation of Restaurants and Related Trades last month said the restaurant had historically seen a large part of its business come from banquets, and speculated that the chain had suffered major losses as social-distancing measures led to most large gatherings being banned.
The group’s annual report last year showed that its revenues fell by 29.4 per cent between April of 2019 and March of 2020, for a net loss of HK$637 million (US$81.9 million), compared to profits totalling HK$25 million in the previous financial year.
Police figures, meanwhile, show there were 6,432 reports of criminal damage across the city last year, a 14.1 per cent drop from 7,489 in 2019.
This article Home of major Hong Kong restaurant chain’s CEO splashed with red paint first appeared on South China Morning Post