The maid has pleaded innocent to one count of theft and claims the incident is a misunderstanding, Ming Pao Daily News reported.
Cheung said he had planned to only fire the maid, identified as 30-year-old Preslyn Catacutan, but reported the matter to police after she claimed she was falsely accused, Ming Pao said.
The lawyer for the domestic helper, who appeared in court Tuesday, said his client accidentally mixed Cheungs items with her own personal items, the newspaper said.
The mass-market Apple Daily reported that the maid remained in custody because she couldnt afford the 1,000 Hong Kong dollar (about P7,000) bail.
Foreign maids earn a minimum monthly wage of HK$3,400 (P23,800) in Hong Kong.
The maids trial was scheduled to start Dec. 7, Apple Daily said.
Theft carries a maximum penalty of 10 years imprisonment in Hong Kong.
Tens of thousands of foreigners work as domestic helpers in wealthy Hong Kong. Most are Filipinos, with smaller numbers from Indonesia, Thailand and Nepal.
A spokeswoman for Cheung didnt immediately return a reporters call seeking comment. Court spokeswoman Lina Ting said she couldnt immediately provide information on the case.