BEIJING Feb. 21 -- Property tycoon Lim Por-yen, founder of Asia Television Ltd., Hong Kong's second-largest terrestrial TV network, died Friday. He was 93.

    Lim died in a Hong Kong hospital, ATV spokeswoman Anita Lui said. She gave no details of his illness, but local networks said he had been hospitalized earlier for pneumonia.

    Lim was the founder of Hong Kong-listed Lai Sun Group, a conglomerate with businesses in real estate, hotels, media and entertainment.

    Lim sold his stake in ATV while he was facing corruption charges in Taiwan's biggest bribery scandal.

    He was convicted in 1999 of paying US$4.1 million in bribes to Taiwanese officials in the hope of gaining at least 900 million Taiwan dollars (US$28.6 million) in wrongful government payments relating to a land deal.

    He received a two-year jail term but Taiwan agreed to let him return to Hong Kong while he appealed his conviction after posting record bail of 40 million Taiwan dollars.

    Taiwan's High Court said Friday that Lim's appeal had been under review but proceedings will be dropped because of his death.

    (Source: Shenzhen Daily-Agencies)