Fairyoung starts European roadshow

Kenneth Ko

FAIRYOUNG Holdings is presenting a roadshow in Europe to promote its China play identity and to attract international investors.

Managing director John Chan, who heads the roadshow in the Netherlands, Denmark, Belgium and Britain until Friday, said Fairyoung was expanding rapidly in China and the roadshow was part of its increasing drive to target international investors.

He said: ''Fairyoung is seeking new investment to expand and meet the increasing demand for container handling, trading and transport operations in China.

''We have also entered into some new hi-tech joint ventures in Beijing to develop new nutrients for livestock and a powerful pain-killer for patients, liquid toothpaste and other bio-engineering products.'' The growing trade between China and Taiwan would provide many investment opportunities for Fairyoung, which was establishing a number of operations in Xiamen, he said.

Fairyoung is currently committed to property developments in Xiamen, Shanghai, Harbin and Heilongjiang with a land bank of 8.2 million sq ft.

The group is engaged in the development of the Xiangyu pier on a 110,000 sq m site in Xiamen, which has a projected throughput of 700,000 tonnes a year.

Fairyoung has entered into a 50-50 joint venture with Hsin-Chu Transport Co, one of Taiwan's largest road transport firms, to expand its transport services in China.

Mr Chan said his group was the only foreign transport company with operating rights in Xiamen.

Fairyoung, formerly Richfield International Holdings, was taken over last year by Angklong, wholly owned by the Chan family.

The company has undergone a change in investment direction to fit in with the Chan family's strong Taiwan connections.

On the trading side, Fairyoung has a 51 per cent owned subsidiary in Heihe, Heilongjiang, which has a licence to conduct border trade with the Commonwealth of Independent States.

Fairyoung will also import various products into China from Taiwan, through a 100 per cent owned trading subsidiary established in Dadendao, Xiamen.

At present, the group has distribution rights for Taiwan-listed Shihlin Electric's products and CLM lubricant oil in China.