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  • Dec 22, 2014
  • Updated: 2:21am

Cheng Yu-Tung

Chow Tai Fook guarantees HK$707m hotel dividend

Chow Tai Fook guarantees HK$707m hotel dividend

New World Development and its controlling shareholder, Chow Tai Fook Enterprises, have agreed to guarantee a minimum HK$707 million first-year payout from the proposed spin-off of the group's hotel subsidiary.

Monday, 10 June, 2013, 5:18am

Adrian Cheng is sole Hongkonger on Fortune’s ‘under 40’ list

Adrian Cheng Chi-kong. Photo: Dickson Lee

New World Development executive director Adrian Cheng Chi-kong is the only Hongkonger to make Fortune‘s list of business stars aged under 40, which includes Google’s Larry Page and Facebook’s Mark Zuckerberg.

29 Aug 2013 - 4:13am

Ailing founder of New World stable, says Lee Shau-kee

Buy property stocks, advises Lee Shau-kee. Photo: K.Y Cheng

Henderson Land Development chairman Lee Shau-kee said his ageing peer Cheng Yu-tung's condition is stable.

"(Cheng) is good," he said.

Cheng, the founder of New World Development, was admitted to hospital last month, just six months after he retired as chairman and executive director of New World Development. He remains there.

16 Oct 2012 - 4:03am

Duty-free loss To take toll on NWS profits

Brian Cheng at the release of NWS Holdings' results. He said the company was planning to branch out overseas. Photo: Jonathan Wong

NWS Holdings, which operates duty-free shops and toll roads in Hong Kong and on the mainland, is bracing for a hit from a change in mainland toll road policy and the end of its duty-free licence at the Hong Kong International Airport.

26 Sep 2012 - 3:33am

New World patriarch Cheng Yu-tung in hospital with unknown illness

Hong Kong property tycoon Cheng Yu-tung

Hong Kong property tycoon Cheng Yu-tung, who retired as chairman of New World Development in March, is in hospital with an unknown illness.

His eldest son, Henry Cheng Kar-shun, the firm's new chairman, confirmed his father was in hospital but said there was no serious problem with his health.

21 Sep 2012 - 2:26pm

Zen and the art of the shopping mall

It was 2002 and Adrian Cheng Chi-kong was in Kyoto studying Japanese art and culture as part of a Stanford University overseas studies programme.

4 Jun 2012 - 12:00am

A tycoon's guide to avoiding family feuds

Property tycoon Cheng Yu-tung may not be Hong Kong's richest man, but unlike his wealthier friends he now has time to enjoy his money.

Last month Cheng, 86, said he would quit as chairman and executive director of New World Development, one of the city's leading property firms, which he founded in 1970.

12 Mar 2012 - 12:00am

Chow Tai Fook primed for mainland gold rush

Chow Tai Fook Jewellery plans to raise up to HK$22.05 billion to support its aggressive expansion in what may be the largest initial public offering in Hong Kong this year.

The jeweller, which is controlled by property billionaire Cheng Yu-tung, has set a price range of HK$15 to HK$21 for the 1.05 billion new shares being offered.

6 Dec 2011 - 12:00am

Cheng's golden years of growing up

After leading Chow Tai Fook Jewellery for more than five decades, Cheng Yu-tung decided to give the family business a new look by listing it in the stock market.

6 Dec 2011 - 12:00am

Mainland jewellery favourite set to sparkle in the gloom

Do Hong Kong's long-suffering investors in initial public offerings finally have something to look forward to? The jumbo listing of Cheng Yu-tung's jewellery retail empire has been widely flagged and heavily anticipated.

21 Nov 2011 - 12:00am

Chow Tai Fook seeking US$4b

Timing and an ambitious expansion plan are the main reasons why Chow Tai Fook, the more than 80-year-old family jewellery business controlled by tycoon Cheng Yu-tung, is seeking to raise funds in the capital market.

25 May 2011 - 12:00am

Think small

One hundred and thirty-six days into his campaign, Pong Yat-ming feels good about himself.

Pong, a freelance educator, is on a one-year boycott of property conglomerates and large retail chains in Hong Kong.

'Li Ka-shing, Lee Shau-kee, Cheng Yu-tung and the Kwok family,' he says. 'My main targets are these big developers, but there are others, too.'

3 Mar 2011 - 12:00am

NWDS China steps up expansion

New World Department Store China, the mainland retailer controlled by the family of Cheng Yu-tung, plans to spend between HK$800 million and HK$1 billion to buy new store properties over the next three years.

17 Mar 2008 - 12:00am

Talks to end strike could resume on Monday

Talks between the striking bar benders and their employers may resume as early as Monday, it emerged yesterday as unionists decided to halt picketing in the run-up to the meeting.

The Labour Department issued a statement yesterday saying it was liaising with the two sides and hoped the dispute could be resolved soon.

8 Sep 2007 - 12:00am

New World chairman mystified by attacks

Tycoon says he has no fears for personal safety

New World Development chairman Cheng Yu-tung broke his silence yesterday on the spate of attacks targeting his group's properties, saying he is not worried about his personal safety.

'I haven't offended anyone,' he said at his Repulse Bay home. 'I am not worried.'

7 Jul 2007 - 12:00am

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