Cheng Yu-tung rarely campaigns for anyone other than his own business. Yet for Evergrande Real Estate Group, he is at centre stage.
He showed up at last week's roadshow presentation as the mainland developer kicked off its HK$6.4 billion share sale.
'I like Evergrande. It is such a good bargain,' the chairman of New World Development told the press. Cheng showed them the money, too. He subscribed for US$50 million of Evergrande shares as a cornerstone investor.
And he showed up with his super-rich friends - Joseph Lau Luen-hung of Chinese Estates Holdings, Charles Ho of Sing Tao Holdings and many more. Lau also spent US$50 million to become a cornerstone investor. Their pictures and support were all over the Hong Kong and mainland media.
Credibility, money and connections ... Cheng is blowing the Evergrande trumpet hard. But why?
Evergrande founder Hui Ka-yan is not known to be among Cheng's family friends. Their first known business co-operation happened only last year. A US$50 million initial public offering bet is not something that a tycoon like Cheng will blink at.