CHINESE property developer Agile Property Holdings said yesterday two of its top executives, including its chairman Chen Zhuolin, who was in the custody of Chinese authorities, returned to work yesterday.

    Agile said Chen was “no longer subject to the measures” and would resume his duties as an executive director, chairman and president of the Guangzhou-based company from yesterday.

    In October, prosecutors from Kunming in southwestern China’s Yunnan Province required Chen to “stay at a designated residence,” but didn’t identify any wrongdoing.

    Agile said that a second executive, Huang Fengchao, who had been in touch with Chinese authorities and had been unreachable, had informed the firm that he would resume his duties. Huang is in charge of overseeing Agile’s projects in Yunnan and Hainan Province.

    Agile said that “the management, operations and business of the group remain in its usual and normal manner.”

    The debt-laden company had faced weakened sales and tighter margins amid the property downturn, and Chen and Huang’s absence had dealt a blow to the developer, who had to reduce the size of a planned share issuance. (SD-Agencies)