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Hong Kong family businesses

Hong Kong families gravitate to Singapore

December 10, 2019

It was a drizzle that turned into a storm. When the Hong Kong government announced changes to extradition rules allowing people to be sent to mainland China for trial, it not only triggered a political crisis, but an economic one too.

Rags-to-riches ‘Superman’ Li Ka-Shing stages well-planned succession

March 22, 2018

Hong Kong’s highest profile family business patriarch, Li Ka-Shing, is to retire in May, passing several chairman roles to his 53 year-old son, Victor.

Hong Kong’s highest profile family business patriarch is to retire in May, passing several chairman roles to his 53 year-old son, Victor.

A high school dropout dubbed ‘Superman’ for his deal-making abilities, 89-year-old Li Ka-Shing is to step down as the chairman of CK Hutchison Holdings (CKHH) and CK Asset Holdings (CKAH), which he built from a small manufacturer making plastic flowers to a sprawling $100 billion telecoms to property empire.

FB Roundup: New World Group, Heineken, and Euronext Family Business Index

March 2, 2017

New World’s Adrian Cheng climbs succession ladder, Heineken results bolstered by Brexit, Euronext launches family business index

New World’s Adrian Cheng climbs succession ladder

Third-generation family member Adrian Cheng, 36, has been promoted to executive vice-chairman and general manager of New World Group – a possible signal of future succession plans.

The timing of the announcement was downplayed as a coincidence by Cheng who for the first time presented the six monthly results for the Hong Kong-based property behemoth.

New World Group reported revenues for the six months to 31 December of HKD26.6 billion ($3.4 billion).

Wealth & Purpose: From boardroom to classroom

December 13, 2016

The global financial crisis triggered a change in the way the Chan family approached philanthropy. Now Dee Dee Chan is using her skills in Hong Kong’s wealth management industry at JP Morgan and BNP Paribas to drive social change as director of her family’s Seal of Love Charitable Foundation

What do you hope to achieve with your wealth?

Tributes paid to Café de Coral founder Victor Lo Tang-seong

July 12, 2016

The largest publicly-listed Chinese fast food restaurant group in the world is mourning the death of its founder and first president.

The largest publicly-listed Chinese fast food restaurant group in the world is mourning the death of its founder and first president.

Cafe de Coral Group announced Victor Lo Tang-seong died peacefully on 30 June, surrounded by his family. He was 101-years-old.

Third-gen daughter becomes chair of Hong Kong Ship Owners Association

November 30, 2015

One of the world’s largest ship-owning associations is now chaired by a third-generation member of Hong Kong shipping company Wah Kwong Maritime Transport.

One of the world’s largest ship-owning associations is now chaired by a third-generation member of Hong Kong shipping company Wah Kwong Maritime Transport.

Sabrina Chao, who took the helm at her family’s company in 2003 when her father suffered a stroke, was appointed chairwoman of the Hong Kong Shipowners’ Association (HKSOA) at the organisation’s annual general meeting last week.

Obituary: Hari Harilela 1922-2014

January 16, 2015

Hari Harilela, who went from struggling entrepreneur to international businessman through his eponymous hotel empire, has passed away. He was 92.

While many wealthy families today are spread across continents, the Harilela family of Hong Kong is anything but multi-jurisdictional, with up to 100 members of the family occupying a 70-bedroom sprawling mansion in upmarket Kowloon Tong. Patriarch Hari Harilela said the living arrangement was based on a promise once made to his mother, to keep the whole family under one roof. The family patriarch, who went from struggling entrepreneur to international businessman through his eponymous hotel empire, passed away at the property on December 29. He was 92.

Family office makes biggest single donation ever to Harvard

September 8, 2014

A Hong Kong family office’s $350 million (€270.4 million) gift to the Harvard School of Public Health will help address pandemics like Ebola, the school’s dean says.

A Hong Kong family office’s $350 million (€270.4 million) gift to the Harvard School of Public Health will help address pandemics like Ebola, the school’s dean says.

The gift by the Morningside Foundation, the philanthropic arm of family office Morningside Group, is the largest single gift in the Ivy League institution’s history.

Cheuk Nang chair puts gay prejudice aside to promote daughter

August 8, 2014

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

This week, Cheuk Nang chairman Cecil Chao announced he wanted his daughter, Gigi, to become vice chairwoman of the family business, and would be taking his proposal to next month’s board meeting.

Third-gen takes helm at Wheelock & Co

November 28, 2013

Hong Kong-based real estate developer Wheelock & Co has appointed third-gen Douglas Woo, 35, to succeed his father, Peter Woo, 67, as chairman of the board.

Woo, who graduated in architecture from Princeton University, has only been a director on the board since July, when he was also appointed managing director of the company.

Wheelock & Co was founded in 1857, but has only been under the existing family’s ownership since 1985, when Woo’s maternal grandfather Yue-Kong Pao acquired it.