Date
23 January 2019

HKEJ

Hong Kong Economic Journal
  • Wing Chan says funds in Hong Kong should separate consultancy fees from the initial subscription fees they charge investors. Photo: HKEJ

    HK investment fund industry hurt by high fees, poor disclosure

    - Aug 10, 2015 11:35am
    Morningstar Inc., has issued a “C” grade to Hong Kong’s investment environment for funds, saying higher-than-average fees and poor disclosure in certain aspects have offset the merits of the city’s regulatory and tax regime. The Chicago-based investment research and...
  • Capital may flow out of Asian economies, resulting in a slump in property prices, John Tsang warns. Photo: HKEJ

    John Tsang warns of currency depreciation, asset price slump

    - Aug 10, 2015 9:58am
    Their currencies of emerging economies may soon depreciate — as they did in 2013 and 2014 – in the face of a looming rate hike cycle in the United States, Hong Kong Financial Secretary John Tsang Chun-wah warned....
  • Only durians free from insect or animal bites and of a minimum weight are selected for packaging. The spiky fruits are first wrapped in a protective layer before being put into a vacuum-sealed bag. Photo: durianbb.com

    Odor no problem as start-up seeks young durian fans online

    - Aug 8, 2015 8:02am
    The durian is probably the world’s most divisive fruit: either you love it or you hate it. Some say its heavenly smell is unparalleled in the fruit kingdom. Others say it stinks like a sewer. It...
  • Karl Hui (left), Ladybeard and Sailor Fuku Ojisan are cross-dressing internet sensations. Photos: Internet

    Want to upstage Joey Yung? Come as an old sailor

    - Aug 8, 2015 8:01am
    It’s not often that Hong Kong pop star Joey Yung gets upstaged by a minor character in a commercial. But a certain Hideaki Kobayashi managed to steal the limelight — or at least get his fair share...
  • SmarTone chief executive Douglas Li says the platform allows retailers to promote their products and target the right customers. Photo: HKEJ

    SmarTone launches mobile payment service

    - Aug 7, 2015 1:31pm
    SmarTone Telecommunications Holdings Ltd. (00315.HK) has launched a point-to-point sales and marketing platform for mobile payment services. The service is available on iPhone and Android apps linked to a UnionPay card. It will be initially introduced in Hong Kong...
  • Ambrose Ho says the Communications Authority wants more information about the restructuring of an i-CABLE affiliate. Photo: HKEJ

    i-CABLE must give more details for free-TV license application

    - Aug 7, 2015 12:38pm
    Cable television provider i-CABLE Communications Ltd. (01097.HK) must submit by the end of the month supplementary information for its affiliate’s application for a free-television broadcasting license. Part of the required information is related to the affiliate’s ownership restructuring, the...
  • The retail slump has been hurting the property leasing business at Empire Court on Hysan Avenue. Photo: HKEJ

    Dim retail outlook casts shadow on retail property deals

    - Aug 7, 2015 12:15pm
    A shop along Hysan Avenue in Causeway Bay has been leased out for HK$400,000 a month after the owner slashed the asking price by more than 30 percent, the Hong Kong Economic Journal reported on Friday. The shop...
  • Ding Shizhong says ANTA is targeting sales of 100 million pairs annually and seeking acquisition opportunities. Photo: HKEJ

    ANTA seeks deals after interim profit surges

    - Aug 6, 2015 11:56am
    ANTA Sports Products Ltd. (02020.HK) posted 20.24 percent growth in net profit for the first half amid recovery in the sports apparel and accessories sector. Net profit surged to 965 million yuan (US$155.3 million) powered by same-store...
  • Lawrence Ho said his company will continue to rely on gaming revenues to drive growth. Photo: HKEJ

    Melco International to open Cotai casino resort amid slump

    - Aug 6, 2015 11:05am
    Melco International Development Ltd. (00200.HK) is opening its casino resort Studio City on Cotai peninsula in Macau in October despite a slump in the gaming business. Chairman Lawrence Ho Yau-lung said he hopes the new venue would...
  • Benjamin Hung (left) says it's doubtful whether asset quality will improve in the second half given uncertainties in the economy. Photo: HKEJ

    StanChart dividend worst since listing as profit plunges

    - Aug 6, 2015 10:44am
    Standard Chartered Plc. (StanChart, 02888.HK) is cutting its interim dividend by half, saying its net profit slumped 37 percent and pre-tax profit tumbled 44 percent in the six months to June. It is the lowest dividend...
  • Alan Joyce says he is concerned about protectionism in the Hong Kong aviation industry, adding he was astonished by the unfair competition Jetstar faced in its license application. Photo: Bloomberg

    Qantas lashes Hong Kong ‘double standard’ in Jetstar snub

    - Aug 5, 2015 11:07am
    Australian flag carrier Qantas Airways Ltd. is accusing Hong Kong aviation regulators of double standard after they denied an operating license to Jetstar Hong Kong, a joint venture by its wholly owned budget airline subsidiary. Qantas chief executive...
  • Ricky Wong says HKTV Mall is spending HK$10 million in what is believed to be the largest single advertising deal for  MTR Corp. Photo: HKEJ

    Ricky Wong goes underground to pitch online shopping venture

    - Aug 5, 2015 11:05am
    Hong Kong Television Network Ltd. (01137.HK) has taken over the MTR subway to make sure commuters don’t miss its new venture. The media flagship of entrepreneur Ricky Wong rented all 3,268 billboards in 51 train stations to...
  • Chief executive Rose Lee said the capital could be invested in areas driven by Beijing's policies or related to the bank's core business. Photo: HKEJ

    Hang Seng eyes ways to use Industrial Bank stake sale proceeds

    - Aug 5, 2015 11:00am
    Hang Seng Bank Ltd. (00011.HK) is considering various ways to use the money it earned from selling its stake in Industrial Bank Co. Ltd. (601166.CN), vice chairman and chief executive Rose Lee Wai-mun said. Lee said the lender...
  • Chairman Liu Xingxu says a new plant in Xinjiang will produce exports to Russia and other western markets. Photo: HKEJ

    China XLX Fertiliser eyes bigger slice from fertilizer business

    - Aug 4, 2015 10:51am
    China XLX Fertiliser Ltd. (01866.HK) expects its fertilizer business to contribute 80 percent of revenue by 2017. That segment accounted for 30 percent of revenue and 37 percent of net profit in the first half, according...
  • A stock market rout in mainland China and the end of the summer holiday will have an adverse impact on gaming revenue. Photo: Reuters

    Macau July gaming bump preempts govt austerity plan

    - Aug 4, 2015 10:49am
    Macau gaming revenue rebounded to 18.62 billion patacas (US$2.33 billion) in July from the previous month, saving the enclave from planned austerity measures.  However, economic and planning chief Lionel Leong Vai Tac said the government will keep...
  • Thomas Lau (right) and Lifestyle's chief financial officer, Terry Poon Fuk-chuen, speak to reporters after announcing the firm's interim results. Photo: HKEJ

    Lifestyle International revamping malls to draw more customers

    - Aug 4, 2015 10:24am
    Lifestyle International Holdings Ltd. (01212.HK) is speeding up the renovation of some of its shopping malls to lure more tenants with unique characteristics. Chairman Thomas Lau Luen-hung said the firm, which operates the Sogo department stores in Hong...
  • Sonny Wu expects Zhidou Electric Vehicle to overtake US rival Tesla in market value in five to 10 years. Photo: HKEJ

    Electric car maker eyes public listing

    - Aug 3, 2015 12:24pm
    Zhidou Electric Vehicle is considering a public listing this year. Sonny Wu, chairman of Good Fellow Resources Holdings Ltd. (00109.HK) who owns 20 percent of the electric car maker through a private investment vehicle, said the...
  • Li Wing-sang said the deal to buy FC Sochaux has a three-year lock-up period. Photo: HKEJ

    Tech Pro buys French soccer team to help in Europe push

    - Aug 3, 2015 12:08pm
    Tech Pro Technology Development Ltd. (03823.HK), a maker and distributor of LED and other electronic products, has bought French football club FC Sochaux to help penetrate the European market, the Hong Kong Economic Journal reported, citing...
  • Qin Xiao of the Financial Services Development Council said China's "One Belt, One Road" initiative will require massive funds. Photo: HKEJ

    Hong Kong urged to be funding platform for One Belt, One Road

    - Aug 3, 2015 12:06pm
    Hong Kong should seize the opportunity of becoming a fund-raising platform for China’s “One Belt, One Road” initiative, which will require up to 100 trillion yuan (US$16.1 trillion) in capital by 2040, a member of a government...
  • Jeff Chen (left) and Ding Eu-wen were able to raise US$128,200 through crowdfunding platform Kickstarter in just one day. Photo: HKEJ

    HK start-up boosts bike riding safety with award-winning helmet

    - Aug 1, 2015 8:00am
    One year at Harvard turned Jeff Chen Hao-ren, a student from the Hong Kong University of Science and Technology (HKUST), into a startup co-founder. As an exchange student in the United States, Chen often traveled around...

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