Singapore 

OG founder’s grandson fined $3,500 for harassing alleged lover’s husband, Singapore News

SINGAPORE – The grandson of the founder of OG department store was fined $3,500 on Monday (July 15) for harassing the husband of his alleged lover. After a trial, Kelvin Liu Chin Chan was found guilty of one charge under the Protection from Harassment Act, brought by the woman’s husband, civil servant Desmond Tay Kwang Ju. Liu, 44, committed the offence between June 2016 and January 2017 while married to another woman. During the trial on July 6 last year, Mr Tay, who turns 40 this year and is attached…

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Future Land’s shares make their biggest one-day plunge since 2012 Hong Kong IPO, wiping out US$1.9 billion after founder’s arrest

Shares of Future Land Development Holdings Limited, a Shanghai-based property developer, plunged by the most since their 2012 listing in Hong Kong after the company’s founder and chairman Wang Zhenhua was detained by Chinese police over a child molestation charge.The stock plummeted by 23.9 per cent in the last hour of trading in Hong Kong to a five-week low of HK$8.04, wiping out HK$14.86 billion (US$1.9 billion) in market value. Shares of Seazen Holdings, also founded and chaired by Wang,… Source link

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Home 

Is short-video start-up Kuaishou too ‘Zen’ for China's internet culture? Its founders think so

Kuaishou operates one of China’s most popular short-video sharing apps with more than 200 million users logging in every day. Yet its founders worry that the Beijing-based start-up is at risk of sliding into irrelevance.In a call to arms to its more than 8,000 employees on Tuesday, Kuaishou’s founders, Su Hua and Cheng Yixiao, set a target for the company to reach 300 million daily active users by February 2020 and to shake off a laid-back corporate culture that sets it apart from its peers in… Source link

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Singapore 

Daughter of Hour Glass founders loses appeal, to start jail term for drug abuse next month, Singapore News

SINGAPORE – Audrey Tay May Li, 45, the daughter of the founders of luxury watch retailer Hour Glass, will start her jail sentence for drug abuse next month after her appeal was dismissed by the High Court on Friday (March 15). In October last year, Tay was sentenced to 22 months’ jail for repeatedly abusing drugs for two years. On one occasion, she had turned up intoxicated for a psychiatric assessment at the Institute of Mental Health. The former public relations consultant, who is divorced, was arrested in August 2015…

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Home 

Dickson Concepts, owner of Harvey Nichols department store, looks to founder’s son to lead online retail revamp

Dickson Concepts (International), the owner of department store Harvey Nichols, plans to invest up to HK$1 billion (US$128 million) on technology companies, including HK$250 million on revamping its flagship store in Pacific Place. Pearson Poon, 24, who was named executive director last Friday, will oversee the project, a move experts say could pave the way for him to succeed his father and founder Dickson Poon, 62. “We face unprecedented margins compression from online operators internationally,” Dickson Poon, chairman of Dickson Concepts, said at a media briefing on Monday. “Retailers need…

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Home 

Sabrina Meng Wanzhou and Annabel Yao: Huawei founder’s two daughters

The two daughters of Chinese smartphone giant Huawei’s founder, Ren Zhengfei, have been making headlines – and for quite different reasons. The elder one, 46-year-old Huawei chief financial officer Sabrina Meng Wanzhou, was detained by Canadian authorities this month at the request of the United States government, reportedly for violating sanctions against Iran; the younger daughter, Harvard computer science student Annabel Yao, 21, was a sensation at last month’s Le Bal des Debutantes (or Crillon Ball) in Paris. Neither daughter bears their father’s surname – and a quick look at…

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Ecommerce 

Baidu, Alibaba and Tencent founders nominated along with deceased national role models in honours list marking 40 years of economic reform

The founders of China’s three biggest tech companies, Baidu, Alibaba and Tencent – collectively known as BAT – are expected to receive national honours for their contributions to economic reform, putting them on the same pedestal as the first female Chinese Nobel laureate and deceased Communist Party role models. Up to 100 individuals will be honoured as part of the 40th anniversary of China’s reform and opening up, according to Communist Party mouthpiece People’s Daily, which published the nominee list on Monday as part of a five-day public review. Robin…

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Home 

Geely Auto reveals name of founder’s wife to dispel rumours of link to China’s first lady

China’s Geely Automobile Holdings has used a stock exchange filing to try and quash rumours its billionaire owner’s success is tied to political connections. In a disclosure statement made to the Hong Kong bourse dated Monday, Geely revealed details of the holdings of its chairman and top investor Li Shufu, who has made a spate of eye-catching global autos investments over the past decade. While the scope of Li’s investment in the Hangzhou-based carmaker was well known, the name of his wife wasn’t. Listed as a joint holder of 4.9…

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Singapore 

Daughter of Hour Glass founders jailed for drug abuse, Singapore News

SINGAPORE – The daughter of the couple who founded luxury watch retailer The Hour Glass was jailed for 22 months on Thursday (Oct 11) for repeatedly abusing drugs over two years. Former public relations consultant Audrey Tay May Li, 45, was also disqualified from driving for 18 months and fined $1,000 for driving without due care and attention. She pleaded guilty to three drug charges and the driving charge on Aug 27. Another five drug-related charges were taken into consideration during sentencing. She was arrested in August 2015 after knocking…

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