Actor and director Stephen Chow has reportedly mortgaged his mansion in The Peak, the exclusive and expensive hilltop neighbourhood in Hong Kong, amid possible financial woes.
Hong Kong news outlet Apple Daily reported that the 57-year-old bachelor had mortgaged his mansion at 12 Pollock's Path, one of the world's priciest streets, to JPMorgan Chase Bank in March – during the height of the Covid-19 pandemic in Asia. The mortgage was signed by Chow's older sister.
A buyer had reportedly approached the Kung Fu Hustle (2004) star to buy his 5,711 sq ft mansion with panoramic views of Hong Kong at HK$1.1 billion (S$198 million), but Chow did not sell.
The report states that this is not the first time Chow is mortgaging his property. He also did it in 2011 and took back possession only last year.
While he has not confirmed the report, speculation is rife that he has been hit badly by the Covid-19 pandemic as the global film industry came to a grinding halt.
His previous film, The New King Of Comedy, released last year, did not perform as well as his previous works – earning only 624 million yuan (S$123 million) in his main market China, far behind The Mermaid (2016), which earned 3.39 billion yuan in China.
Media reports in Hong Kong and China also suspect that Chow may be mortgaging his property to fund his new movie as investments have run dry because of the pandemic.
In 2004, he bought a piece of land – whRead More – Source
