Hong Kong singer Jacky Cheung lost money after investing in products linked to bankrupt Lehman Brothers Holdings Inc, Hong Kong-based Ming Pao reported Thursday.
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Hong Kong pop singer Jacky Cheung [baidu.com] |
Cheung, who said he put money into fixed deposits for many years, bought the products and the so-called accumulators on the advice of bank employees, the newspaper cited him as saying in a television interview.
He didn't identify the bank that sold him these products or the exact amount he lost. "I lost half of my investment," he was quoted in the report. "It is said that Eric Tsang (Hong Kong actor) suffered much bigger losses."
Referred to as the "God of Songs,'' Cheung has sold more than 60 million records since 2000, the report said.
He is shelving plans to take a one-year hiatus and will release a new album as well as seek a return to Television Broadcasts Ltd. Cheung admitted he earned HK$50 million (US$6.4 million) from a recent world tour of 102 concerts, according to the report.
The report also cited the singer as saying every year he asks his wife May Lo to invest in real estate and that the couple own properties in Hong Kong worth about HK$100 million.
(CRI November 14, 2008)
