Centaline Chairman Shih Wing-ching
Outspoken Centaline Property Chairman Shih Wing-ching planned to retire this year, but thanks to the global economic crisis, he can’t do it just yet. The former leftist talks to June Ng about the failures of politics and how he lost faith in communism and turned to the free market instead.
I am 59. I was planning to retire this year. But I can’t now because the real estate market is in critical condition. I can’t just run and leave my company behind.
Our business has dropped by half. I’ve had to downsize and I’ve laid off about 300 people so far. It’s the only way to keep the company alive.
Actually, Centaline isn’t my company anymore. I donated all my shares to a charity. Even though I don’t have a personal stake anymore, I still want the charity to keep receiving money.
Capable people achieve their goals fairly quickly. So what’s next for them? Instead of more goals, how about doing good for other people? That’s why I donated all my shares.
A person’s needs are very limited. We’re all going to die. How many of your desires can you fulfill? I have all I need for my family and myself.
I started Centaline with a friend. We both had $5,000, which was just enough to rent a desk in a sublet office.