https://www-scmp-com.libproxy1.nus.edu.sg/rss/65959/feed Richard Li Tzar-kai is founder and chairman of Pacific Century Group (PCG), an Asia-based long-term private investment group founded in 1993 with interests in financial services, technology, media and telecommunications (TMT), and property.  Li founded PCCW, which later acquired HKT, and the company has business lines in telecommunications, media and IT solutions. He leads the asset management company PineBridge Investments, insurance business FWD Group and runs Hong Kong-based Pacific Century... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Connor Mycroft Connor Mycroft Singapore Prime Minister Lawrence Wong has met Hong Kong political heavyweights and business leaders – including former Chief Justice Andrew Li Kwok-nang and Richard Li Tzar-kai, the son of tycoon Li Ka-shing – in what he described as a “short but meaningful visit” to the city. Wrapping up his first official visit to the city since he became prime minister in 2024, Wong said in a Facebook post on Saturday that closer cooperation between the two Asian financial centres would contribute to the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3348251/singapores-lawrence-wong-wraps-short-meaningful-visit-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3348251/singapores-lawrence-wong-wraps-short-meaningful-visit-hong-kong?utm_source=rss_feed Sat, 28 Mar 2026 09:51:53 +0000 Themis Qi Themis Qi China’s energy-drinks giant Eastroc Beverage neither rose nor fell in its debut in Hong Kong on Tuesday amid investor caution following regulatory scrutiny of poor-quality listing applications. Shares of the Shenzhen-based company, which makes an alternative to Red Bull, opened at HK$248, matching the offer price. They ended the day 1.5 per cent higher at HK$251.80. Eastroc raised HK$10.14 billion (US$1.3 billion) by issuing 40.89 million shares, the largest initial public offering (IPO) in the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed Tue, 03 Feb 2026 01:37:55 +0000 Aileen Chuang Aileen Chuang Chinese energy-drinks maker Eastroc Beverage has kicked off a Hong Kong initial public offering (IPO) to raise up to HK$10.1 billion (US$1.3 billion), making it the city’s largest listing this year that has already seen a dozen companies raise more than US$4.5 billion. The Shanghai-listed firm was offering 40.9 million shares at a maximum price of HK$248 each, according to its prospectus filed to the Hong Kong stock exchange on Monday. At this price, the firm would be valued at around US$21... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3341216/chinese-drinks-maker-eastrocs-us13-billion-hong-kong-ipo-gives-it-wings-soar?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3341216/chinese-drinks-maker-eastrocs-us13-billion-hong-kong-ipo-gives-it-wings-soar?utm_source=rss_feed Mon, 26 Jan 2026 05:47:52 +0000 Leopold Chen Leopold Chen A Hong Kong dancer paralysed from the neck down in an accident during a concert by popular local boy band Mirror is set to undergo a more intense rehabilitation programme, his father has revealed, calling for more financial support. Mo Li Kai-yin, 31, would embark on a three-year rehabilitation journey powered by advanced technologies, including regenerative medicine and an implantable microstimulator, his father, Reverend Derek Li Shing-lam, revealed in a prayer letter. “It is a thorny path we... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3340318/paralysed-hong-kong-dancer-mo-li-set-undergo-intense-cutting-edge-treatment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3340318/paralysed-hong-kong-dancer-mo-li-set-undergo-intense-cutting-edge-treatment?utm_source=rss_feed Sun, 18 Jan 2026 09:21:31 +0000 Aileen Chuang Aileen Chuang MiniMax is set to raise at least HK$4.2 billion (US$537.7 million) by pricing its Hong Kong initial public offering (IPO) at the top of its marketed range, underscoring strong demand for China’s artificial intelligence sector amid an intensifying race with the US. The Shanghai-based firm, backed by Alibaba Group Holding and Tencent Holdings, planned to price its 25.4 million shares on offer at HK$165 each, according to people familiar with the matter. The company would stop taking orders from... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3338766/minimaxs-hong-kong-ipo-set-hit-us538-million-amid-chinese-ai-sector-frenzy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3338766/minimaxs-hong-kong-ipo-set-hit-us538-million-amid-chinese-ai-sector-frenzy?utm_source=rss_feed Mon, 05 Jan 2026 08:39:32 +0000 Matthew Cheng,Willa Wu Matthew Cheng,Willa Wu The coming Legislative Council election has thrown up some unexpected links, with several Hong Kong tycoons nominating candidates who are non-core establishment or union representatives, who in turn have backed the real estate sector. A check of nomination forms submitted by all 161 Legco hopefuls found that top figures from major developers had taken different approaches in naming aspirants running in the December 7 poll, the second under Beijing’s “patriots-only” electoral overhaul. New World... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3332002/surprises-hong-kong-legco-election-nominations-tycoons-back-unions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3332002/surprises-hong-kong-legco-election-nominations-tycoons-back-unions?utm_source=rss_feed Fri, 07 Nov 2025 15:41:58 +0000 Wynna Wong Wynna Wong The United States is “overstretching the concept of national security” with its threat to oust HKT International from the country’s telecommunication network, Hong Kong authorities have said. Political commentators also warned on Thursday that Beijing would interpret the move as Washington using the city as a “chess piece against China”. The Hong Kong government said it “strongly disapproves of the United States’ overstretching the concept of national security in targeting Hong Kong enterprises... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3329297/us-overstretching-national-security-fears-threatening-hkt-hong-kong-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3329297/us-overstretching-national-security-fears-threatening-hkt-hong-kong-says?utm_source=rss_feed Thu, 16 Oct 2025 14:50:00 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s office segment is picking up due to leasing demand from mainland Chinese law firms and financial groups, supported by a buoyant stock market that has seen an increasing number of companies launch initial public offerings (IPOs) in the city. Office-leasing activity in August grew for a fifth straight month, with tenants absorbing 313,800 sq ft of net space, according to data compiled by JLL. The overall vacancy rate in the city increased 0.1 per cent to 13.5 per cent month on month in... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3326583/hong-kongs-office-market-sees-resurgence-ipo-boom-demand-chinese-law-firms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3326583/hong-kongs-office-market-sees-resurgence-ipo-boom-demand-chinese-law-firms?utm_source=rss_feed Wed, 24 Sep 2025 00:30:09 +0000 Bloomberg Bloomberg Issuers from mainland China, Hong Kong and Macau are storming back into the offshore dollar bond market this year, driving total issuance to its highest level since 2022. Among them is Seazen Group, a struggling developer that tested the waters a few months ago with a US$300 million bond offering – the first such sale by a major private-sector Chinese developer since 2023. Now it is looking for another bond deal. Once ranked among the country’s 10 biggest builders by contracted sales, Seazen... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3326494/developer-seazen-joins-chinese-rush-back-dollar-bond-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3326494/developer-seazen-joins-chinese-rush-back-dollar-bond-market?utm_source=rss_feed Tue, 23 Sep 2025 06:06:44 +0000 Oscar Liu Oscar Liu Medical treatment for a Hong Kong dancer paralysed during a concert by popular boy band Mirror is now uncertain, with his father revealing that a major donor’s verbal promise to cover the expenses may no longer be upheld. Reverend Derek Li Shing-lam, the father of 30-year-old Mo Li Kai-yin, said in a letter on Saturday that the dancer’s path to recovery now faced a “vacuum of resources and a struggle of faith”, without naming the donor. “A promise [by] ‘… [to] cover Mo’s medical expenses’ opened... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3324654/paralysed-hong-kong-mirror-dancers-medical-funding-thrown-jeopardy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3324654/paralysed-hong-kong-mirror-dancers-medical-funding-thrown-jeopardy?utm_source=rss_feed Sun, 07 Sep 2025 09:47:22 +0000 Enoch Yiu Enoch Yiu FWD Group, a regional insurer founded by Hong Kong billionaire Richard Li Tzar-kai, said its first-half net profit jumped 15 times on strong sales growth and one-off cost reductions. In the first results since FWD’s HK$3.61 billion (US$466 million) initial public offering (IPO) in July, net profit soared to US$47 million from US$3 million a year earlier, the company said on Friday. The insurer said it would not pay an interim dividend. Driving the profit increase, annualised premiums from new... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed Fri, 29 Aug 2025 09:08:19 +0000 Aileen Chuang Aileen Chuang The Tsz Shan Monastery, built by the Li Ka Shing Foundation, has published a new book, offering a peek into the philosophy and wisdom of Hong Kong’s wealthiest man, whose own rags-to-riches life story has inspired generations of entrepreneurs. Titled “Eternity in Light”, the five-chapter tome was published to mark the monastery’s 10th anniversary, featuring writings by scholars of Buddhism and professors of architecture about the landmark in Tai Po in Hong Kong’s New Territories. The Li Ka Shing... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed Thu, 07 Aug 2025 00:30:10 +0000 Yulu Ao Yulu Ao Hong Kong’s wealthiest family denied that their residence of more than half a century is up for sale, as CK Asset Holdings issued an unusual rebuttal of rumours that have circulated for days on social media. Social media speculation of the impending sale of 79 Deep Water Bay Road was “entirely fabricated”, “false” and “groundless,” CK Asset said in a statement on behalf of the company’s chairman and managing director, Victor Li Tzar-kuoi. “The reports and posts on certain websites and social... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3320707/li-family-home-hong-kong-not-sale-ck-asset-says-rebuke-false-rumour?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3320707/li-family-home-hong-kong-not-sale-ck-asset-says-rebuke-false-rumour?utm_source=rss_feed Mon, 04 Aug 2025 10:38:10 +0000 SCMP Editorial SCMP Editorial As Hong Kong’s IPO activities have come back to life, few companies making their stock debut better mirror the market’s ups and downs in the past few years than FWD Group. The pan-Asian insurer founded by local tycoon Richard Li Tzar-kai has reached the end of a four-year journey after selling 91.3 million shares with a market capitalisation of HK$48.8 billion (US$6.2 billion). The home-grown firm’s high-profile debut stood out amid a slew of initial public offerings by companies from the... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3317506/fwds-ipo-journey-charts-fall-and-rise-hong-kong-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3317506/fwds-ipo-journey-charts-fall-and-rise-hong-kong-market?utm_source=rss_feed Wed, 09 Jul 2025 22:45:07 +0000 Salina Li Salina Li The decline in Hong Kong’s office rents slowed in the second quarter amid rising leasing demand from finance and law firms, but analysts cautioned this trend was unlikely to substantially benefit landlords as prices are yet to recover. Overall grade A office rents fell 1 per cent quarter on quarter compared with steeper declines in earlier quarters, according to data from Cushman & Wakefield. Prime Central, Tsim Sha Tsui and Kowloon West recorded a milder decline in rents than districts like... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317036/slowing-decline-hong-kong-office-rents-unlikely-benefit-distressed-landlords?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317036/slowing-decline-hong-kong-office-rents-unlikely-benefit-distressed-landlords?utm_source=rss_feed Mon, 07 Jul 2025 00:30:10 +0000 Enoch Yiu,Julie Zhang Enoch Yiu,Julie Zhang FWD Group wrapped up its first trading day in Hong Kong with a modest gain, as the insurer’s four-year journey to list on a stock market brought it from New York back to its hometown. Trading under the stock code 1828, FWD’s shares ended Monday at HK$38.40 in a declining market, a 1-per cent premium to its initial public offering (IPO) price of HK$38, after swinging between a loss of 2.5 per cent and an intraday gain of 2.1 per cent. The IPO, which raised HK$3.47 billion (US$442 million) last... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317150/fwd-plots-next-growth-phase-hong-kong-ipo-opens-access-capital-ceo-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3317150/fwd-plots-next-growth-phase-hong-kong-ipo-opens-access-capital-ceo-says?utm_source=rss_feed Sun, 06 Jul 2025 23:30:11 +0000 Julie Zhang Julie Zhang FWD Group has launched its long-anticipated initial public offering (IPO) in Hong Kong, as the pan-Asian insurer founded by local tycoon Richard Li Tzar-kai approaches the end of a four-year odyssey for capital that has taken it from New York back to his hometown. FWD plans to sell 91.34 million shares at HK$38 each, according to a filing on Thursday to the Hong Kong exchange, valuing the insurer at HK$48.3 billion (US$6.15 billion). The insurer could upsize the IPO to 105 million shares and... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3315854/richard-lis-fwd-files-us512-million-hong-kong-ipo-amid-slew-jumbo-deals?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3315854/richard-lis-fwd-files-us512-million-hong-kong-ipo-amid-slew-jumbo-deals?utm_source=rss_feed Thu, 26 Jun 2025 01:53:38 +0000 Aileen Chuang Aileen Chuang FWD Group, the insurer founded by tycoon Richard Li Tzar-kai, could be listed in Hong Kong as soon as July after making its third attempt to list its shares amid a flurry of initial public offerings (IPOs) in the city, according to people familiar with the company’s plans. The insurer named CMB International and HSBC as overall IPO coordinators in a filing to the stock exchange on Thursday, joining Goldman Sachs and Morgan Stanley on a previously announced line-up. It followed a fresh IPO... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3312376/richard-lis-insurer-fwd-aims-list-hong-kong-july-after-adding-ipo-bankers-sources-say?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3312376/richard-lis-insurer-fwd-aims-list-hong-kong-july-after-adding-ipo-bankers-sources-say?utm_source=rss_feed Fri, 30 May 2025 02:10:58 +0000 SCMP Editorial SCMP Editorial Chinese battery giant Contemporary Amperex Technology (CATL) made a splash with its stock debut in Hong Kong this week by jumping more than 16 per cent. Despite it being blacklisted by the US Defence Department, probed by Congress and caught in the middle of a worldwide trade war, investors could not hold off their enthusiasm for a firm that supplies international carmakers such as Tesla, Mercedes and Volkswagen. Interestingly, the offering under a US regulation meant American investors were... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3311290/catls-debut-sign-hong-kongs-ipo-market-roaring-back?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3311290/catls-debut-sign-hong-kongs-ipo-market-roaring-back?utm_source=rss_feed Thu, 22 May 2025 00:15:07 +0000 Enoch Yiu Enoch Yiu FWD Group Holdings, the insurer backed by tycoon Richard Li Tzar-kai, filed for a share offering in Hong Kong just a day ahead of the trading debut of the world’s largest new listing this year, as the city’s bourse regains its former lustre as a top global fundraising venue. The insurer has received preliminary interest from potential investors for its third attempt at an initial public offering (IPO) in Hong Kong, sources familiar with the situation told the Post. FWD’s filing with the exchange... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3310961/tycoon-richard-lis-insurer-fwd-files-list-hong-kong-amid-rising-ipo-wave?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3310961/tycoon-richard-lis-insurer-fwd-files-list-hong-kong-amid-rising-ipo-wave?utm_source=rss_feed Mon, 19 May 2025 13:23:24 +0000 Lam Ka-sing Lam Ka-sing The appearance of the younger son of Hong Kong billionaire Li Ka-shing at a high-profile summit in Beijing on the weekend caused a stir in business circles given how the central government had signalled its displeasure over the sale of Panama Canal ports controlled by his family’s conglomerate, observers have said. Richard Li Tzar-kai was among 93 people who appeared in a group photo with Chinese Premier Li Qiang at the China Development Forum on Sunday in Beijing. His father and his elder... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3303867/panama-deal-eyebrows-raised-over-hong-kongs-richard-li-beijing-observers-say?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3303867/panama-deal-eyebrows-raised-over-hong-kongs-richard-li-beijing-observers-say?utm_source=rss_feed Wed, 26 Mar 2025 00:00:14 +0000 Tammy Tam Tammy Tam The message from Beijing has been subtle but clear enough amid the snowballing controversy over the decision by Hong Kong billionaire Li Ka-shing’s flagship business arm CK Hutchison Holdings to sell 43 of its ports, including two in Panama, to a consortium led by US investment firm BlackRock. There has been no direct commentary by state media outlets such as Xinhua News Agency, People’s Daily or China Central Television, but Beijing’s unhappiness was reflected by two top offices supervising... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3303525/beijing-upset-why-it-limiting-criticism-hutchisons-pull-out-panama?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3303525/beijing-upset-why-it-limiting-criticism-hutchisons-pull-out-panama?utm_source=rss_feed Sun, 23 Mar 2025 11:15:56 +0000 Enoch Yiu Enoch Yiu Insurance policies were becoming a popular choice for wealthy individuals in Asia, including the Greater Bay Area, for estate planning to avoid family disputes and achieve stable growth, according to industry players. Canadian insurer Manulife, the largest pension provider in Hong Kong, has seen growing demand for insurance products for legacy and succession-planning purposes, according to Patrick Graham, the CEO for Hong Kong and Macau. Nearly 60 per cent of high-net-worth individuals (HNWIs)... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3299705/why-wealthy-individuals-prefer-hong-kong-insurance-policies-inheritances?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3299705/why-wealthy-individuals-prefer-hong-kong-insurance-policies-inheritances?utm_source=rss_feed Mon, 24 Feb 2025 01:30:14 +0000 Mia Castagnone Mia Castagnone Hong Kong tycoon Richard Li Tzar-kai is reshuffling his assets again, this time by selling his personal interest in the publisher of Hong Kong Economic Journal (HKEJ) to telecommunications group PCCW for HK$70 million (US$9 million). PCCW, in which Li controls a 31.8 per cent stake, will buy the HKEJ’s publisher Clermont Media from an offshore trust company in which he is the settlor, according to a stock exchange filing on Tuesday. Li expects to capitalise an undisclosed amount of his loans to... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3296618/tycoon-richard-li-sell-hkej-publisher-pccw-us9-million-asset-reshuffle?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3296618/tycoon-richard-li-sell-hkej-publisher-pccw-us9-million-asset-reshuffle?utm_source=rss_feed Tue, 28 Jan 2025 11:07:16 +0000 Bloomberg Bloomberg MetLife agreed to buy PineBridge Investments’ assets outside China from Hong Kong billionaire Richard Li’s Pacific Century Group as part of the US insurer’s push to grow in asset management. MetLife Investment Management, the institutional asset manager of the New York-based insurance company, will pay US$800 million for PineBridge, which manages about US$100 billion in assets, according to a statement on Monday that confirmed an earlier Bloomberg News report. MetLife will also pay US$200... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3292090/metlife-buy-hong-kong-tycoon-richard-lis-pinebridge-asset-management-push?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3292090/metlife-buy-hong-kong-tycoon-richard-lis-pinebridge-asset-management-push?utm_source=rss_feed Tue, 24 Dec 2024 02:04:50 +0000 Insurer FWD Group Holdings said it is keeping “a close eye” on market conditions amid speculation that its owner, the tycoon Richard Li Tzar-kai, wants to revive his plan to raise capital through an initial public offering in Hong Kong. A stock sale by FWD, which has postponed its Hong Kong IPO twice after an about-turn from New York in 2021, may value the 11-year-old insurer at as much as US$9 billion, according to a Reuters report. “While we do not currently have an active listing application... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3265643/richard-lis-fwd-keeps-close-eye-market-amid-rumours-insurer-will-refile-ipo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3265643/richard-lis-fwd-keeps-close-eye-market-amid-rumours-insurer-will-refile-ipo?utm_source=rss_feed Thu, 06 Jun 2024 11:00:20 +0000 Hong Kong’s richest man has donated about HK$120 million (US$15 million) to Stanford University to fund a programme that aims to nurture entrepreneurs, as well as research efforts to combat genetic neurological and immune-related diseases. The Li Ka Shing Foundation will give some of the money to the Stanford Initiative for Entrepreneurs’ Resilience and Well-Being (SIER), while the rest will go to the research projects of two prominent scholars. “I am especially pleased this gift reaffirms my... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3253906/hong-kongs-li-ka-shing-donates-hk120-million-stanford-university-nurture-entrepreneurs-pioneer?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3253906/hong-kongs-li-ka-shing-donates-hk120-million-stanford-university-nurture-entrepreneurs-pioneer?utm_source=rss_feed Fri, 01 Mar 2024 15:58:47 +0000 Hong Kong billionaire Richard Li Tzar-kai will maintain his control of Hong Kong-based FWD Group Holdings amid speculation about a potential stake sale that values the regional insurer at about US$10 billion, after it struggled to raise funds through an initial public offering (IPO). Pacific Century Group, which controls the insurer, said Li will maintain his grip on FWD, adding that the billionaire was “confident about the long-term development of the company”, according to a statement released... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3252350/pacific-century-group-downplays-fwd-stake-sale-says-ipo-will-come-opportune-time?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3252350/pacific-century-group-downplays-fwd-stake-sale-says-ipo-will-come-opportune-time?utm_source=rss_feed Sun, 18 Feb 2024 14:17:10 +0000 Hong Kong’s HK$18 million (US$2.3 million) National Day fireworks extravaganza, the first in five years, will feature an unprecedented array of nine Victoria Harbour launch points, despite staffing problems and a tight deadline. Organisers on Friday said the 23-minute display would portray eight scenes designed to boost hope and happiness in the city and mainland China, and use about 32,000 individual fireworks to showcase the government’s drive to kick-start the nighttime economy. “In addition... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3234756/hong-kong-national-day-fireworks-back-bang-pyrotechnics-firm-promises-hk18-million-spectacular-after?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3234756/hong-kong-national-day-fireworks-back-bang-pyrotechnics-firm-promises-hk18-million-spectacular-after?utm_source=rss_feed Fri, 15 Sep 2023 14:11:05 +0000 FWD Group Holdings, the Hong Kong-based insurer backed by billionaire Richard Li Tzar-kai, has decided to postpone its Hong Kong initial public offering (IPO) for the second time due to ongoing market volatility. The insurer, which marked its 10th anniversary in August, refiled its application to list on the city’s stock exchange in March this year. It aimed to use the proceeds from the IPO to support growth and the enhancement of its digital capabilities and strategy. FWD first postponed its... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3234498/richard-li-backed-insurer-fwd-postpones-hong-kong-ipo-plan-second-time-amid-stock-market-doldrums?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3234498/richard-li-backed-insurer-fwd-postpones-hong-kong-ipo-plan-second-time-amid-stock-market-doldrums?utm_source=rss_feed Thu, 14 Sep 2023 06:41:55 +0000 Hongkonger David Chiu Tat-cheong was in his early 30s when he decided to part ways with his father’s business and strike out on his own somewhere else. “I wanted to go to a country that my father was not familiar with,” he recalled. “I was young and wanted to start a business. That would be a bit more exciting.” That was the late 1980s. He set his sights on Malaysia, as his father, the late entertainment and property tycoon Deacon Chiu Te-ken had already left his mark in Singapore and... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3230921/how-hong-kong-tycoons-success-stories-southeast-asia-pave-way-more-tap-regions-business-potential?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3230921/how-hong-kong-tycoons-success-stories-southeast-asia-pave-way-more-tap-regions-business-potential?utm_source=rss_feed Mon, 14 Aug 2023 01:00:17 +0000 A serendipitous meeting more than 10 years ago between a telecoms titan and a former Vietnamese refugee at Hong Kong’s exclusive Causeway Bay yacht club sowed the seeds for an insurance company that today covers against risks in seven countries along the ancient Silk Road. Richard Li Tzar-kai, the chairman of Hong Kong’s telecoms group PCCW and the younger son of the city’s wealthiest man, Li Ka-shing, said at the time that he wanted to marry the “two loves” – the internet and e-commerce, as... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3230807/how-fwd-married-two-richard-lis-loves-create-hong-kongs-only-home-grown-pan-asian-insurer?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3230807/how-fwd-married-two-richard-lis-loves-create-hong-kongs-only-home-grown-pan-asian-insurer?utm_source=rss_feed Sun, 13 Aug 2023 23:30:13 +0000 Hong Kong-based logistics technology start-up alfred24 has been chosen as the first investee of a collaboration between MTR Lab and tech hub Cyberport to nurture digital and sustainable solutions in the city. Alfred24, which specialises in automated parcel lockers and provides software solutions for locker operators, will use the funding to invest in sustainable solutions such as battery and solar-powered Bluetooth lockers to optimise its technology, as well as “reduce carbon emissions related... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3215986/mtr-lab-cyberport-invest-hong-kong-logistics-start-alfred24-offers-sustainable-delivery-solutions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3215986/mtr-lab-cyberport-invest-hong-kong-logistics-start-alfred24-offers-sustainable-delivery-solutions?utm_source=rss_feed Wed, 05 Apr 2023 08:00:18 +0000 The Chearavanonts, whose members have dominated Thailand’s billionaires list for decades, plan to set up an outfit in Hong Kong to invest the clan’s fortunes, becoming one of the biggest names in the rarefied world of family offices to heed the city’s ambition of becoming Asia’s wealth management hub. Dhanin Chearavanont, the senior chairman and second-generation scion of the Charoen Pokphand Group, will fly in with his eldest son Soopakij – the CP Group’s chairman – to join a Friday gala dinner... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3214402/thailands-chearavanont-clan-plans-set-hong-kong-family-office-heeding-citys-wealth-good-call-set?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3214402/thailands-chearavanont-clan-plans-set-hong-kong-family-office-heeding-citys-wealth-good-call-set?utm_source=rss_feed Wed, 22 Mar 2023 06:36:08 +0000 The Hong Kong government will announce a slew of measures at a key wealth summit on Friday, such as a revamped investment migration scheme, while new tax concessions and incentives will be offered for family offices to make it easier to set up charities and grow their art collection, Secretary for Financial Services and the Treasury Christopher Hui said. The measures are aimed at fending off Singapore and attracting more wealthy people to set up family offices here and to reconnect Hong Kong to... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3214350/hong-kong-announce-cash-residency-scheme-tax-incentives-wealth-summit-attract-family-offices?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3214350/hong-kong-announce-cash-residency-scheme-tax-incentives-wealth-summit-attract-family-offices?utm_source=rss_feed Wed, 22 Mar 2023 00:30:13 +0000 FWD Group Holdings, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, on Monday afternoon refiled its application to list on the city’s stock exchange, having postponed its planned listing in May last year due to ongoing market volatility. Proceeds from the initial public offering (IPO) will be used to “support growth” and the “enhancement of our digital capabilities and strategy”, FWD said in its prospectus. The insurer shelved its plan to list in New York in 2021 amid ongoing... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3213392/richard-li-controlled-insurer-fwd-refiles-hong-kong-ipo-application?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3213392/richard-li-controlled-insurer-fwd-refiles-hong-kong-ipo-application?utm_source=rss_feed Mon, 13 Mar 2023 12:15:31 +0000 Hong Kong tycoons Richard Li Tzar-kai and Ronnie Chan Chi-chung, as well as a number of global financial and philanthropic heavyweights, are expected to attend a high-level forum aimed at attracting the world’s biggest family offices to Hong Kong. The forum, called “The Wealth for Good in Hong Kong Summit”, will be held at the Hong Kong Palace Museum in West Kowloon Cultural District on March 24. At least 14 tycoons and chiefs of the world’s leading family offices and organisations – including... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3212656/richard-li-ronnie-chan-and-bill-and-melinda-gates-foundation-are-among-philanthropists-expected-hong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3212656/richard-li-ronnie-chan-and-bill-and-melinda-gates-foundation-are-among-philanthropists-expected-hong?utm_source=rss_feed Tue, 07 Mar 2023 08:25:38 +0000 FWD Group Holdings, the pan-Asian insurance company owned by Hong Kong billionaire Richard Li Tzar-kai, has agreed to buy a majority stake in Gibraltar BSN Life, a move that allows it to tap into the Southeast Asian market’s growth potential ahead of FWD’s planned initial public offering. FWD, along with a group of investors, will buy a 70 per cent stake in Gibraltar BSN from a subsidiary of New York-listed Prudential Financial, according to a statement on Monday. The transaction will allow FWD... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3210826/fwd-buy-majority-stake-malaysian-life-insurer-gibraltar-bsn-ahead-planned-hong-kong-ipo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3210826/fwd-buy-majority-stake-malaysian-life-insurer-gibraltar-bsn-ahead-planned-hong-kong-ipo?utm_source=rss_feed Mon, 20 Feb 2023 07:47:22 +0000 A turbulent initial public offering (IPO) market in Hong Kong saw the city cling to third place in the global fundraising stakes in 2022, losing out to arch-rivals Shanghai and Shenzhen, according to Refinitiv data. China’s worsening growth outlook, compounded by its zero-Covid approach, and the run of jumbo interest-rate increases by the Federal Reserve were among the major factors that dented investors’ appetite for new shares. Such waning demand led to either smaller stock sales or poor IPO... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3205215/top-six-hong-kong-ipos-watch-out-2023-city-tries-reclaim-pole-position-global-fundraising?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3205215/top-six-hong-kong-ipos-watch-out-2023-city-tries-reclaim-pole-position-global-fundraising?utm_source=rss_feed Tue, 03 Jan 2023 01:30:09 +0000 A global revival in initial public offerings might be far off, but at least 10 Asian companies are working on listings that each could raise US$1 billion or more in the coming year. China’s onshore market hosted nine stock listings of that size or larger this year, more than any other in 2022, while they almost entirely vanished from venues such as Hong Kong, Seoul and Mumbai. Here are 10 Asia-based firms in sectors ranging from insurance to chemicals and electric vehicles seeking listings that... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3204220/jack-mas-ant-group-richard-lis-fwd-and-syngenta-could-be-among-top-10-asian-ipos-2023?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3204220/jack-mas-ant-group-richard-lis-fwd-and-syngenta-could-be-among-top-10-asian-ipos-2023?utm_source=rss_feed Thu, 22 Dec 2022 05:40:22 +0000 Lilian Cheng,Clifford Lo Lilian Cheng,Clifford Lo Criminal negligence may be involved in a horrific accident at a concert by Hong Kong Cantopop boy band Mirror that left a dancer with critical injuries, an investigation into the tragedy is expected to reveal. Government sources said a report by the government task force set up to investigate the tragedy could be published, as well as a separate report by police, could be unveiled as early as Friday. A source added that police and the interdepartmental task force had consulted the Department of... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3199187/mirror-boy-band-hong-kong-concert-tragedy-probe-may-reveal-criminal-negligence-caused-screen-fall?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3199187/mirror-boy-band-hong-kong-concert-tragedy-probe-may-reveal-criminal-negligence-caused-screen-fall?utm_source=rss_feed Thu, 10 Nov 2022 15:18:51 +0000 Fans and members of the public on Wednesday sent their best wishes to a dancer who suffered serious injuries when a giant screen fell on him as he performed at a concert by top boy band Mirror, with some calling for authorities to release the results of an investigation into the tragedy as soon as possible. More than 100 supporters formed a queue outside the Still House boutique in Causeway Bay’s Haven Street to leave words of encouragement for dancer Mo Li Kai-yin, who is in danger of paralysis... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3195750/mirror-concert-accident-event-organised-birthday-injured?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3195750/mirror-concert-accident-event-organised-birthday-injured?utm_source=rss_feed Wed, 12 Oct 2022 15:20:56 +0000 Hong Kong billionaire Richard Li Tzar-kai promised on Monday to provide HK$10 million (US$1.27 million) to support a dancer who was critically injured during a Mirror concert, after the business tycoon visited the performer in hospital last week. Li, chairman of PCCW, parent company of concert organiser MakerVille, said he would give the sum in addition to covering the medical fees of Mo Li Kai-yin, 27. The businessman added he was deeply saddened by the anxiety and pain the accident had caused... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3192246/hong-kong-tycoon-richard-li-vows-provide-hk10-million-dancer?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3192246/hong-kong-tycoon-richard-li-vows-provide-hk10-million-dancer?utm_source=rss_feed Mon, 12 Sep 2022 12:57:40 +0000 Hong Kong insurer FWD Group Holdings has appointed director and former minister Frederick Ma Si-hang its new chairman, it said on Friday. Ma, 70, has been with FWD- which is backed by Hong Kong tycoon Richard Li Tzar-kai – since 2013, when he joined as a director. He served as secretary for financial services and the treasury between 2002 and 2007 and as secretary for commerce and economic development from 2007 to 2008. His appointment as chairman is expected to help the insurer resume its... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3184650/fred-ma-former-hong-kong-minister-and-fwd-director-appointed-chairman?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3184650/fred-ma-former-hong-kong-minister-and-fwd-director-appointed-chairman?utm_source=rss_feed Fri, 08 Jul 2022 11:00:11 +0000 FWD Group Holdings, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, has decided to postpone its plan to list its shares on the city’s exchange due to ongoing market volatility. The decision was made eight days after the insurer received the go-ahead from the listing committee of the Hong Kong stock exchange, according to a source familiar with the matter. The insurer, which ranks among the top three insurers in Thailand and the Philippines, had applied in February to raise... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3179811/richard-lis-fwd-postpones-its-listing-plan-hong-kong-amid?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3179811/richard-lis-fwd-postpones-its-listing-plan-hong-kong-amid?utm_source=rss_feed Tue, 31 May 2022 04:39:58 +0000 Investors still have an appetite for special purpose acquisition companies (SPACs) listed in Singapore despite a “more challenging” environment for the investment vehicles this year, according to the head of the Singapore Exchange’s regulatory arm. Singapore and Hong Kong both introduced new rules last year to allow the so-called blank cheque companies to go public on their bourses amid a fervour for the listings among investors and sponsors that saw more than US$162 billion raised by the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3174582/singapore-spacs-still-draw-investor-interest-despite?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3174582/singapore-spacs-still-draw-investor-interest-despite?utm_source=rss_feed Tue, 19 Apr 2022 00:30:16 +0000 FWD Group, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, filed a draft prospectus to list its shares on the city’s exchange, as it pressed on with switching its initial public offering from New York to its hometown bourse. FWD, which ranked within the top three insurers in Thailand and the Philippines, has now taken a step closer to a Hong Kong share sale. It usually takes at least six months for a new issuer to obtain all the approvals and clearance from Hong Kong’s exchange... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3168730/fwd-files-list-hong-kong-richard-li-completes-switch-his?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3168730/fwd-files-list-hong-kong-richard-li-completes-switch-his?utm_source=rss_feed Mon, 28 Feb 2022 14:33:39 +0000 FWD Group Holdings, the Asian insurer backed by Hong Kong billionaire Richard Li Tzar-kai, is close to filing an application for an initial public offering (IPO) in the city this year, according to people familiar with the matter, after US-China tensions scuppered more ambitious plans for an overseas debut. The IPO filing is set to be lodged with the Hong Kong stock exchange as early as Monday, the people said, asking not to be identified because the matter is private. The company could seek to... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3168584/richard-lis-fwd-could-file-us1-billion-hong-kong-ipo-early-monday?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3168584/richard-lis-fwd-could-file-us1-billion-hong-kong-ipo-early-monday?utm_source=rss_feed Sun, 27 Feb 2022 10:41:45 +0000 In two days, Hong Kong’s private sector and the patriotic camp took out advertisements pledging support, and then offered money, facilities, land and even popular idols under their charge to help in the fight against the coronavirus pandemic ravaging the city. The reason for their sudden resolve: President Xi Jinping. The excuse for their previous reluctance: the local government. These were among the arguments mounted by analysts, several players in the private sector and pro-Beijing pundits in... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/health-environment/article/3167635/coronavirus-hong-kongs-tycoons-are-rushing-join?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/health-environment/article/3167635/coronavirus-hong-kongs-tycoons-are-rushing-join?utm_source=rss_feed Sat, 19 Feb 2022 00:30:24 +0000 FWD Group, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, will drop its New York listing plan to sell shares on its hometown exchange, a source said. The firm was poised to raise more than US$1.4 billion in a private fundraising ahead of its revised flotation plan. The insurer will raise the cash through a placement of new shares with a group of global investors including Apollo Global Management, the Canada Pension Plan Investment Board, the reinsurer Swiss Re, and the Siam... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3159594/fwd-drop-new-york-listing-sell-shares-hong-kong-after-us14-billion-private?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3159594/fwd-drop-new-york-listing-sell-shares-hong-kong-after-us14-billion-private?utm_source=rss_feed Tue, 14 Dec 2021 02:15:08 +0000