The former chairman of bankrupt Goldin Financial (0530) Pan Sutong has reportedly sold all of his 60 percent stake in a commercial redevelopment at 7 Wang Tai Road in Kowloon Bay to the SEA Group (0251).

SEA is said to own the remaining 40 percent stake in the project via the building owner Goldin Financial Global Square, as three SEA executives were introduced to the company in March 2019.

Last October, the corporate secretary of Goldin Financial Global Square was changed to SEA Secretarial (Hong Kong), which shares the same address as the SEA Group.

The Wang Tai Road site was to be rebuilt into an office building by the fourth quarter of 2021 but construction has stopped since 2020.