After tech forays, Shell Electric's Billy Yung turns to real estate
Billy Yung Kwok-kee's father struck it rich when he founded what became the world's largest ceiling-fan maker, Shell Electric Manufacturing, in the 1950s. But the second-generation industrialist is not keen to follow in the footsteps of his father, Yung Yau.
In fact, after years of making fans, the 54-year-old says he is bored with them. In recent years, the firm has become better known for its property and technology investments.
Since joining the Hong Kong-listed manufacturer in 1977 after graduating from university in the United States, the younger Mr Yung has been keen to try new things, especially in high technology.
In 1978, Shell Electric was among the first Hong Kong manufacturers to set up sales offices in the US, and later in Canada and Europe, bypassing middlemen to sell directly to chain-store retailers.
Six years later, Billy Yung listed the company on the Hong Kong stock exchange and diversified its business from fans to consumer appliances and other electronic products. It was the first firm to design and make microwave ovens, digital cameras and DVD players in Hong Kong and on the mainland.