Hong Kong interior fitting and furnishing firm upbeat about sector's outlook
Interior fitting and building materials player says labour costs will not hurt HK home prices
As a small part of the Hong Kong real estate industry, the business of fitting and furnishing is cyclical - subject to the ups and downs of the economy.
However, William Lau, the man behind BSC, a home-grown interior fitting and building materials player, is confident about the sector's outlook with its mix of businesses.
The company is consider- ing acquisitions as part of its expansion and does not rule out seeking a public listing in the future.
"I do not think property prices in Hong Kong will fall due to high labour costs. Meanwhile, we are working on a number of hotel projects," said Lau, the founder and chairman of BSC.
Established in 1970, BSC began as an interior fitting and building materials business for residential projects. Eventually, the company extended into five-star hotels mainly in Hong Kong and Macau, with clients including Sands China and New World Development.
"We are very small in the industry. But we are unique," Lau said.
Despite talk that the hotel industry is slowing in the wake of a softening Hong Kong economy, Lau said the company is busy on projects such as the fitting out work for New World Development's Rosewood hotels in Tsim Sha Tsui and the group's Pentahotel brand at San Po Kong in Kowloon.
The company also focuses on sourcing and supplying the building materials and construction industries and kitchen and bath products. It also diversified into retailing with a 21,000 square foot shop filled with high-end kitchens, bathroom fixtures and accessories.
"We have diversified from providing traditional sanitary wares and ceramic tiles to innovative wellness solutions and bath fittings in fashionable finishes," Lau said.
"We still have many areas to expand into," said Lau, adding that BSC had any new acquisition targets, it may revisit a plan to list.
As early as 1992, BSC had considered listing on the Hong Kong stock exchange but Lau decided the company did not need cash for development.