Chow Yei-Ching, the Hong Kong businessman who founded the Chevalier Group, has died at the age of 82.
The Chevalier Group, which Chow established in 1970, confirmed that he died at home on Sunday night, adding that the arrangement for his funeral will be announced later, the Hong Kong Economic Journal reports.
Chow reportedly contracted liver cancer three years ago before he was stricken by stroke later and had recuperated at home since.
Chevalier announced in January 2016 that Chow had to step down as its chairman and executive director in view of his health condition.
A source revealed that Chow’s funeral will be held at the Hong Kong Funeral Home on Aug. 6.
Born in Zhejiang province in 1935, Chow came to Hong Kong from Shanghai at the age of 17 and later founded the Chevalier Group.
Chevalier started with selling Toshiba lifts and escalators, and later expanded to air-conditioning, construction and pager businesses. It now also engages in property development.
At its peak in the 1990s, the group controlled three Hong Kong-listed companies. But Chevalier International Holdings Limited is now the only publicly listed firm in the group after Chevalier Construction Holdings was privatized and Chevalier Pacific Holdings Limited was sold.
According to stock exchange data, Chow owned 62.76 percent of Chevalier International, valued at around HK$2.27 billion, before his death.
Chow is survived by his Japanese wife, with whom he had six daughters and one son.
The husband of Chow’s daughter Violet Chow Wai-wai is TVB artist Carlo Ng Ka-lok.
Chow had actively promoted economic exchanges between Japan and Hong Kong for years and chaired the Japan Society of Hong Kong. The Japanese Emperor had awarded Chow twice to honor him for his efforts. He was awarded the Gold Bauhinia Star by the Hong Kong government in 2004.
In 2015, Chow was banned from taking part in the stock market for 10 years after he was found violating the Takeovers Codes by holding some shares in ENM Holdings for his friend, the late Nina Wang Kung Yu-sum, former chairwoman of Chinachem Group, to help her avoid a takeover.
Chow was praised for his long-term enthusiastic support for charitable activities, including joining the blood donation program organized by the Hong Kong Red Cross every year.
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