New director for research group

LEGISLATIVE councillor Andrew Wong Wang-fat is to become a director of the Hongkong Foundation, the non-profit research and consultancy organisation founded by the late Stephen Cheong Kam-chuen.

Mr Wong, who has been a client of the foundation for a couple of years, is to be joined by Cheong's uncle Henry Cheong Ying-chew and William Au Weng-hai, a vice-chairman of Pok Oi Hospital.

Incumbent director Henry Tang Ying-yen resigned yesterday.

General manager Thomas Wong Yeung-ng said the Foundation would continue to focus on three areas.

These were: publish the monthly business magazine China-Hongkong Economic Monthly , conduct research and consultancy work for clients and provide information on business opportunities in the mainland.

With an annual budget over $10 million and more than 30 staff, the Foundation was funded by donations but had yet to break even, Mr Wong said.