
Danish facility-management firm says its unit managed the estate — but denies any role in renovation work blamed for the blaze
Shares in Danish facilities group ISS tumbled sharply after media reports connected the firm’s Hong Kong unit to the property management of the estate devastated by the city’s deadliest fire in decades.
The blaze tore through the Wang Fuk Court complex in the Tai Po district, killing at least one hundred and fifty-six people and leaving scores missing.
ISS clarified that although its local arm, ISS EastPoint Properties Limited (ISS EPPL), had provided administrative support and day-to-day services for the estate, it had no involvement in the renovation, maintenance or fire-safety work blamed for triggering the inferno.
The company said it did not select or supervise the renovation contractors and did not inspect or install fire-safety equipment at the property.
Despite the denial of direct involvement in the works, the mere association of ISS — which employs more than 325,000 people globally — with the estate triggered investor panic.
The company’s shares dropped by around ten percent, marking their steepest fall since August 2023, as markets weighed potential reputational and legal fallout.
Hong Kong authorities have launched a judge-led independent inquiry into the fire to determine cause, oversights and potential liability.
So far, authorities have arrested multiple contractors and consultants on manslaughter and corruption charges, though ISS has not been named among targets.
ISS has pledged full cooperation with investigators.
The episode underscores the risks faced by firms providing property-management services in Hong Kong’s high-density, renovation-heavy housing sector — where responsibility for tenant safety remains closely scrutinised amid rising public anger and calls for accountability.
The blaze tore through the Wang Fuk Court complex in the Tai Po district, killing at least one hundred and fifty-six people and leaving scores missing.
ISS clarified that although its local arm, ISS EastPoint Properties Limited (ISS EPPL), had provided administrative support and day-to-day services for the estate, it had no involvement in the renovation, maintenance or fire-safety work blamed for triggering the inferno.
The company said it did not select or supervise the renovation contractors and did not inspect or install fire-safety equipment at the property.
Despite the denial of direct involvement in the works, the mere association of ISS — which employs more than 325,000 people globally — with the estate triggered investor panic.
The company’s shares dropped by around ten percent, marking their steepest fall since August 2023, as markets weighed potential reputational and legal fallout.
Hong Kong authorities have launched a judge-led independent inquiry into the fire to determine cause, oversights and potential liability.
So far, authorities have arrested multiple contractors and consultants on manslaughter and corruption charges, though ISS has not been named among targets.
ISS has pledged full cooperation with investigators.
The episode underscores the risks faced by firms providing property-management services in Hong Kong’s high-density, renovation-heavy housing sector — where responsibility for tenant safety remains closely scrutinised amid rising public anger and calls for accountability.



























