Chow Tai Fook Enterprises is a private Hong Kong investment company, Chow Tai Fook is one of the largest diversified consumer and hospitality companies in Asia with a proven track record in long-term tourism and infrastructure investments. Chow Tai Fook has significant financial capacity to support large scale international development and highly complementary VIP relationships in Greater China and Asia.
Cheng Kar-Shun, Henry, GBS, joined the Group in 1971, was appointed as Chairman and an executive director in July 2011 and is a member of the Nomination Committee and Remuneration Committee of the Company.Dr. Cheng is responsible for the strategic direction and overall performance of the Group. He is a director of certain subsidiaries of the Group.Dr. Cheng is also chairman and an executive director of New World Development Company Limited, chairman and managing director of New World China Land Limited, chairman and an executive director of NWS Holdings Limited and International Entertainment Corporation, chairman and a non-executive director of New World Department Store China Limited, Newton Resources Ltd and FSE Engineering Holdings Limited (became listed in Hong Kong on 10 December 2015), a non-executive director of SJM Holdings Limited, and an independent non-executive director of HKR International Limited and Hang Seng Bank Limited, all of which are listed public companies in Hong Kong.He was also a non-executive director of Lifestyle International Holdings Limited, which is a listed public company in Hong Kong, until his retirement on 4 May 2015.In addition, Dr. Cheng is also a director of several substantial shareholders of the Company, including Cheng Yu Tung Family (Holdings) Limited, Cheng Yu Tung Family (Holdings II) Limited, Chow Tai Fook Capital Limited and Chow Tai Fook (Holding) Limited and its subsidiary, Chow Tai Fook Enterprises Limited. Dr. Cheng is chairman of the Advisory Council for The Better Hong Kong Foundation and a Standing Committee Member of the Twelfth Chinese People’s Political Consultative Conference.Dr. Cheng is the eldest son of Dato’ Dr. Cheng Yu-Tung, the father of Mr. Cheng Chi-Kong, Adrian, an uncle of Mr. Cheng Chi-Heng, Conroy and a cousin of Mr. Cheng Kam-Biu, Wilson.
Star Entertainment Group has expanded its strategic partnership with Hong Kong-based Chow Tai Fook and Far East Consortium as the companies bet on growing Chinese tourism to Australia. Under the accord, the Australian company will raise A$490 million (US$375.2 million) from the sale of shares. Both Chow Tai Fook and Far East Consortium will each […]
Australia-listed Star Entertainment Group has announced it has expanded its strategic partners and will be raising A$490 million (US$375.2 million) from two of its Hong Kong-based partners, Chow Tai Fook and Far East Consortium. The strategic partnership will see both parties jointly pursue and participate in growth projects in, or adjacent to The Star’s current […]
Original developer of the Baha Mar resort, BMD Holdings Ltd, is calling for a moratorium on the sale of Baha Mar to Chow Tai Fook over concerns of potential corruption with respect to the concessions granted by the Christie administration. The company on Monday said it had reviewed the Heads of Terms regarding concessions agreed […]
The Bahamas’ newest integrated resort celebrated its soft opening on Friday, after receiving government approvals for its gaming license earlier this month. The first phase of the $4.2 billion integrated resort development, which was sold to Hong Kong-based Chow Tai Fook Enterprises (CTFE) in December last year, includes The Grand Hyatt Baha Mar; Baha Mar […]
Baha Mar has received government approvals for its gaming license, ahead of its launch in three weeks, reports The Bahamas Tribune. Tourism Minister Obie Wilchcombe confirmed on Tuesday, saying approvals for a gaming license and associated certificates of suitability were granted after a comprehensive probity investigation, and on the recommendation of the Gaming Board. He […]
The Baha Mar resort in the Bahamas is scheduled to hold a soft opening on April 21 and its casino floor is stocked with machines, though the IR still has not received its casino license, local media reported. The resort, which is operated by a local unit of Hong Kong’s Chow Tai Fook, was scheduled […]
The international consortium led by casino operator The Star Entertainment Group has completed the acquisition of the Sheraton Mirage Resort at the Gold Coast, according to a company filing to the ASX. The international joint venture includes Hong Kong-based Chow Tai Fook Enterprises and Far East Consortium. It is understood that Star will take a […]
Baha Mar’s new owner, Chow Tai Fook Enterprises (CTFE) is scheduled to hire thousands of Bahamian workers in order to meet its April 21 opening date, local media reports. “I can confirm we will begin the recruitment and hiring process on January 16,” Robert Sands, Baha Mar’s senior vice-president of government and external affairs, told […]
Bahamas Prime Minister Perry Christie has confirmed the sale of Baha Mar to Hong Kong-based Chow Tai Fook Enterprises (CTFE), local media reports. The announcement, made on Monday morning follows a recent delegation of Bahamian government officials to Hong Kong for meetings with CTFE. Mr. Christie did not disclose the sale price. Following the announcement, […]
Developers building more than 2000 apartments in Brisbane’s $3 billion Queen’s Wharf casino-resort project have been given almost 20 years to complete the triple towers. According to The Australian, the 50-50 joint venture between Hong Kong-listed Chow Tai Fook and Far East Consortium has until 2035 to build between 2000 and 2200 apartments with a […]
The Baha Mar resort casino is scheduled to open to the public in the second quarter of 2017, according to Bahamas Prime Minister Perry Christie. On Friday, Mr. Christie revealed that Hong Kong-based conglomerate Chow Tai Fook Enterprises (CTFE), would begin “a phased opening” of Baha Mar in April. The opening will see at least […]
Chow Tai Fook Enterprises has submitted its proposal for the acquisition of Baha Mar, a casino resort complex in the Bahamas, local media reports. The Hong Kong-based conglomerate first announced it had entered into negotiations for the ownership of Baha Mar in late October. CTFE is known also for its involvement in developing the US$2.3 […]
Chow Tai Fook, which is currently in talks to acquire the Baha Mar resort has denied allegations that it is somehow involved with gaming mogul Stanley Ho in the deal. “The Cheng Family is an investor in Sociedade de Turismo e Diversões de Macau (STDM), which owns the gaming subsidiary, SJM Holdings Ltd (SJM),” CTFE […]
Chow Tai Fook Enterprises Limited has entered into negotiations for the ownership of Baha Mar, said the company in an announcement on Friday. The company has applied to the Government of The Bahamas for approval as a proposed investor and acquirer of the Baha Mar Resort. CTFE is known also for its involvement in developing […]
Australia-listed Star Entertainment has been formally granted a new casino license for its Queen’s Wharf Brisbane project. The casino license will be issued to a joint venture entity of which The Star Entertainment Group has a 50 percent interest, said the company in a filing to the Australian Stock Exchange on Friday. The issuing of the license […]
Chow Tai Fook Enterprises, which was part of a winning consortium for a $3 billion-casino resort in central Brisbane, Australia, says it will tap into its VIP network to attract Chinese high rollers to the facility. The Hong Kong-listed company, whose activities include a jewellry chain and shopping malls, will have a 25 percent share […]
Chow Tai Fook Enterprises will head the development of a casino resort in Vietnam’s Quang Nam Province after real estate firm VinaCapital’s fund, VinaLand, divested its stake in the project to a unit of Chow Tai Fook. AIM-listed VinaLand Limited has become a strategic shareholder of the $4 billion Nam Hoi An casino, instead of […]
Echo Entertainment Group reported a 59 percent rise in full-year net profit after improved marketing and loyalty programs drove strong domestic revenue growth. The Australian gaming firm’s net profit for the year to June 30 was A$169.3 million ($123.7 million). Normalised net profit, which removes significant items and the volatility of Echo’s international VIP rebate […]
Echo Entertainment Group is partnering with the world’s largest jeweler to attract gamblers to its Brisbane casino. The casino operator has teamed up with Chow Tai Fook Jewellry Group to offer exclusive experiences such as yacht cruises and truffle tastings to people who spend more than HK$1 million ($129,000) a year at the jeweler, Bloomberg […]
Echo Entertainment, which beat Crown Resorts for a license to redevelop the Queen’s Wharf precinct in downtown Brisbane, says the project will be the best in Australia and an “asset for the state that will compete with anything in Macau or Singapore, or other destinations around the world.” In a release after the Queensland government […]
Echo Entertainment Group has won the right to develop a gambling resort in the center of Brisbane, beating rival James Packer’s Crown Resorts and allowing the company to keep its two-decade casino monopoly in the city. Queensland state premier Annastacia Palaszczuk said in a media conference that Echo and its consortium, which includes Chow Tai […]
Chow Tai Fook Jewellery Group stocks fell the most in five months after the world’s largest listed jewelry chain reported earnings that missed analyst estimates. The stock fell 6.5 percent to HK$8.58 at the close of trading in Hong Kong, the biggest decline since January, Bloomberg reported. The group reported total revenue for the year […]
The operator of the U.S. Mohegan Sun casino announced that it has partnered with South Korea’s largest airport in a proposal to build a $5 billion casino resort complete with a casino housing 250 tables and 1,500 slot machines. The Mohegan Tribal Gaming Authority and Incheon International Airport said their proposed resort would be developed […]
Macau junket operator SunCity Group will join Hong Kong’s Chow Tai Fook Enterprises in investing in a long-delayed $4 billion casino project in Vietnam, according to Vietnam Investment Review. The investors will take the place of Malaysia’s Genting, which pulled out of the project in 2012 in Quang Nam province. The two investors will partner […]
Melco Crown Entertainment co-chairman Lawrence Ho said South Korea’s policy of restricting access to locals means the company is not placing a high priority on expansion in the country. “In our opinion, foreigners-only gaming market is difficult. Korea and its policy of not letting locals in, to us, is difficult,” Ho was cited as telling […]
Echo Entertainment says its proposal for a casino development in downtown Brisbane would generate 8,000 jobs once complete and attract 1.4 million visitors in the first year. In a filing with the Australian Stock Exchange, the company said about 2,000 jobs would be created during the construction phase. It said the additional tourist numbers would […]
South Korea plans to approve two more foreigner-only casinos and the construction of about 5,000 new hotel rooms as it seeks to boost tourism investment by about 3.5 trillion won ($3.2 billion), according to media reports. The government would choose operators to invest around one trillion won each in two integrated resorts by the second […]
The Star Entertainment Group, formerly known as Echo Entertainment Group, is undergoing a group-wide renaissance, reshaping its brand identity and revamping its properties to take advantage of a forecast surge in Asian tourism. Group CEO Matt Bekier says he's convinced the next "boom" for Australia will come from tourism and is positioning the brand to benefit.
China’s crackdown on corruption, increasingly stringent immigration controls and a recently proposed 21-million quota on annual visitors from the mainland has significantly changed Macau’s junket market, with promoters increasingly diverting business to surrounding regions and expanding their reach and scope.