Stanley Ho Hospitalized in Hong Kong; SJM Shares Fall

Hong Kong billionaire Stanley Ho is hospitalized in Hong Kong, a hospital official said following a report the 87-year-old was in intensive care. Shares of his casino operator SJM Holdings Ltd. fell as much as 6.7 percent.

Hong Kong Adventist Hospital marketing officer Christine Chow said by telephone today that Ho had been admitted and was still in the hospital. Chow declined to disclose further details, citing patient privacy.

SJM, which operates casinos and hotels in Macau, finished the morning session at HK$3.14 per share, down 4.8 percent. The Apple Daily newspaper reported today that Ho, SJM’s chairman, had undergone brain surgery after a fall and was in intensive care.

The benchmark Hang Seng Index was little changed at the midday break, up 0.03 percent at 20,813.77.

Ho was in stable condition in the hospital after an operation last week to remove a blood clot in his brain, Apple Daily said. Janet Wong, Stanley Ho’s press secretary, couldn’t immediately be reached for comment on her office and mobile phone numbers.

“Any report of this type concerning senior management at a company will introduce uncertainty,” said JPMorgan Chase & Co. analyst Billy Ng. Reports on Ho’s surgery have affected trading of SJM shares today, he said.

The long-term effects of the injury aren’t certain, the Hong Kong-based Apple Daily said.

Ho is also chairman of Shun Tak Holdings Ltd., the Macau transport company and developer. A phone call to his office at Shun Tak was answered by a recorded message earlier today. Shun Tak shares fell 0.7 percent to HK$6.01.

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