Money 

‘It all started from Hong Kong’: two of Southeast Asia’s richest men on early success and the belt and road plan’s future

Two of Southeast Asia’s most prominent members of the Chinese diaspora, businessmen Dhanin Chearavanont and Mochtar Riady, took the stage at the Hong Kong Trade and Development Council’s Belt and Road Summit on Wednesday to reminisce about being early investors on the mainland.The tycoons emphasised their belief in China’s economy and President Xi Jinping, and described how Hong Kong had played an essential role in their early successes – and could do so today for investments related to the… Source link

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Singapore 

How did the 5 richest people in Singapore make their fortune?, Lifestyle, Business, Singapore News

Since Sep 2018 — when the brand raised US$963 million in its Hong Kong initial public offering (IPO) — Haidilao’s stocks have more than doubled. Zhang’s is an inspiring story of rags to riches: The 49-year-old is a self-made billionaire who built a hotpot empire from scratch, with the help of 3 good friends who agreed to invest in Haidilao during its early stages. One of them, Shu Ping, is now his wife. He comes from Jianyang, a rural province in Sichuan, and dropped out of high school to help earn…

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Singapore 

Hotpot billionaire Zhang Yong ousts Far East’s Ng brothers to top Forbes list of Singapore’s richest, Singapore News

SINGAPORE – Consumers’ love for hotpot has propelled Haidilao founder Zhang Yong to the top of the 2019 Forbes Singapore Rich List, with a net worth of US$13.8 billion (S$19.17 billion). Mr Zhang, who made his debut on Singapore’s rich list last year, replaces long-time leaders, property tycoons Robert and Philip Ng of Far East Organization, who are now second with a combined wealth of US$12.1 billion. The Ng brothers had previously occupied the top spot on the list every year this decade, Forbes Asia said in a press statement…

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China’s hotpot king Zhang Yong shoves aside real estate magnates as Singapore’s richest man as Haidilao’s stock price doubled

Zhang Yong, mainland China’s “hotpot king,” has displaced a couple of property developers as Singapore’s richest man according to Forbes Asia’s latest listing, as a doubling in the stock price of Haidilao International Holdings bolstered his wealth.Zhang, who was on the China rich last year, has since become a naturalised Singaporean citizen. His debut at the top of Singapore’s rich list displaces Philip and Robert Ng, who own property developer Far East Organisation and Hong Kong’s Sino Land,… Source link

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Thailand’s richest man calls for peace and order in Hong Kong, adding his voice to the chorus of condemnation against violence

Dhanin Chearavanont, the Thai industrialist who heads one of Asia’s wealthiest families, has added his voice to a growing chorus of condemnation against deteriorating violence in 12 weeks of street protests in Hong Kong, taking out advertisements to call for peace.The head of Thailand’s Chearavanont family and senior chairman of the Charoen Pokphand Group (CP) urged for peace and social order to return to Hong Kong’s streets, in front-page advertisements under his ethnic Chinese name Chia Kok… Source link

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Victory in bitter family feud for control of Great Eagle, one of Hong Kong’s richest property empires, is bitter sweet for chairman Lo Ka-shui as global recession looms

For Lo Ka-shui, his tentative victory in a high-profile family feud over a HK$24 billion (US$3 billion) property inheritance has proved to be something of a mixed blessing.Having seen off an attempt by his mother to win back control of Great Eagle Holdings, one of Hong Kong’s wealthiest property dynasties, he faces the daunting prospect of trying to keep the company’s international hotel empire growing.The protracted trade war between the world’s two largest economies has dampened sentiment… Source link

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Li Hejun, once China’s richest man, gets approval from shareholders to take troubled Hanergy unit private

Hanergy Thin Film Power Group, the company whose stunning stock market performance once made its chairman the richest man in China, will be delisted from the Hong Kong stock exchange next month after shareholders approved plans to take it private.The company said in a filing to the exchange on Sunday that 97.25 per cent of shareholders had voted in favour of the privatisation scheme in a shareholder meeting a day earlier. The vote gives the green light for the firm to delist on June 11, and… Source link

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Victor Li and Richard Li, the sons of Hong Kong’s richest man Li Ka-shing, work together for first time on heritage project

A newly refurbished heritage project in the tourist hotspot of Tsim Sha Tsui is the result of an unusual collaboration.The revamp of 1881 Heritage, a historical building that housed the former Marine Police Headquarters, involved the two sons of Hong Kong’s richest man Li Ka-shing and their companies working together on a project for the first time.Victor Li Tzar-kuoi, 54, and his younger brother Richard Li Tzar-kai, 52, on Wednesday co-hosted a ceremony with Chief Executive Carrie Lam Cheng… Source link

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How Xiaomi founder Lei Jun’s US$956m could be better spent – China’s richest should take charity to the next level, like Bill Gates

Lei Jun, the founder and chairman of Chinese smartphone maker Xiaomi, made the headlines last week when it was revealed that he had received a compensation package nearly equal to the company’s profit. For 2018, he took compensation of shares valued at US$956 million. Xiaomi’s adjusted net profit for the year was US$1.3 billion.Admirably, Lei has promised to devote all of these shares, after tax, to charitable purposes. But charity is not the same as philanthropy, and Lei’s remarkable donation… Source link

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Europe’s richest man Bernard Arnault is closing his wealth gap with Gates and Buffett as LVMH shares advance to a record

Bernard Arnault, Europe’s richest man, got another boost as LVMH shares reached a record due to better-than-expected sales of Louis Vuitton handbags and leather goods.The Frenchman, whose fortune has increased by more than US$19 billion in 2019, is rubbing shoulders with Bill Gates and Warren Buffett in the Bloomberg Billionaires Index, with a net worth of more than US$87 billion.LVMH shares rose as much as 4 per cent Thursday to €342.80, the highest level since the stock was listed in October… Source link

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