Latest news with #Hui
Straits Times
12 hours ago
- Business
- Straits Times
Evergrande tycoon's ex-wife spent millions on luxury homes after property giant defaulted on loans
Evergrande, once China's largest property developer, was forced into liquidation in 2024 with US$300 billion in debt. PHOTO: BLOOMBERG HONG KONG – The ex-wife of China Evergrande Group's chairman spent millions on luxury apartments in London, nine months after the country's once largest property developer defaulted on its loans. While a court document in January unveiled her ownership of 33 units at the high-end residential development Thames City, it didn't include the timing of the purchase. The properties worth £49.8 million (S$86.3 million) were acquired in September 2022, according to data compiled by Bloomberg News based on UK land registry filings. That's almost a year after Chinese authorities asked Evergrande chairman Hui Ka Yan to pay debt with his personal wealth. Ding Yumei holds the homes through five British Virgin Islands companies. She has hired Jones Lang LaSalle (JLL) as a letting and management agent, according to a UK court filing in January. The 68-year-old is living in one of the most expensive homes she purchased, worth £5.4 million, with two of her children and two grandchildren, according to court filings. She was no longer listed as a spouse of Mr Hui in Evergrande's filing in August 2023, while it's unclear when the two divorced. The properties add to a list of more than US$350 million global assets that Ms Ding amassed, including a record-breaking mansion at the heart of London in 2020 and other ones in Vancouver. It underscores the challenges liquidators face in gaining full view of the assets held by Mr Hui and his confidantes, and the obstacles to asserting control across multiple jurisdictions. Once Asia's second richest, Mr Hui and Evergrande exemplify China's real estate boom and bust. His sprawling empire was forced into liquidation in 2024 with US$300 billion in debt, as China's property meltdown continued into a fourth year. In 2024, JLL sought permission from the Business and Property Courts of England and Wales to continue managing Ms Ding's properties, following an injunction issued against her – a request that was granted by a UK judge. The move came after courts in both Hong Kong and London imposed worldwide asset-freeze injunctions on Ms Ding in July, part of a broader effort to recover US$6 billion from her, Mr Hui, and former Evergrande executives. Ms Ding has been told to provide detailed asset disclosure to liquidators in Hong Kong, yet she has delayed the process by applying for confidentiality summons and asking for other technical clarifications. Ms Ding's representatives have argued that she didn't hold a management role in the company and wasn't involved in operations. Ms Ding's representatives didn't respond to requests for comment. Mr Hui couldn't be located, as he was taken away by Chinese police in 2023 and put under control. The monthly rental for the Thames City apartments go from about £3,800 for a one-bedroom flat to more than £34,000 for a five-bedroom penthouse, according to listings from property platform Zoopla. The Thames City project was co-developed by Guangzhou R&F Properties and C C Land Holdings, run by Cheung Chung Kiu, a poker-playing friend of Mr Hui. In April 2022, R&F sold a 50 per cent stake in the project to a private vehicle wholly owned by Mr Cheung at a loss of HK$1.84 billion (S$302 million). Later in 2022, R&F's co-founder Zhang Li chose to stay confined in one of the project's penthouses when he was on bail after facing bribery charges from the US. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
RTHK
3 days ago
- Business
- RTHK
'HK to diversify financial services to drive growth'
'HK to diversify financial services to drive growth' Christopher Hui says the government is looking to boost growth in the family office sector, digital assets and artificial intelligence. Photo: RTHK The Secretary for Financial Services and the Treasury, Christopher Hui, has highlighted government efforts to boost growth in three areas – family offices, digital assets, as well as the responsible use of artificial intelligence – as the SAR seeks to further diversify its financial services sector. Speaking in an interview with RTHK marking three years of Chief Executive John Lee's administration as well as the 28th anniversary of the SAR's establishment, Hui said his bureau has released three policy statements and passed 33 pieces of legislation since taking office to help the city emerge from the Covid outbreak. He noted that Hong Kong's financial markets have shown resilience over the past three years, attracting global funds and family offices to increase investment here to help fend off risks. Hui said while 150 family offices have already set up shop here, another 180 have said they are interested in following suit, which would far exceed his bureau's goal of attracting a total of 200 by the end of the year. 'Among them, nine are with Middle Eastern backgrounds. Of course, there are also others with traditional market backgrounds," Hui said. 'But you can see that the appeal of Hong Kong as a family office hub is global," he said, noting that there's still ample room for growth of these offices that manage the wealth of ultra-high-net-worth families. Hui also said other than incorporating greater financial technology into the city's financial services industry, another key focus of his bureau is to improve relevant settlement platforms to drive trading of commodities in the SAR, so as to further boost product diversity. This came after the government took the leap in transforming the city into a premier bullion trading hub, while ramping up collaboration with the London Metal Exchange (LME) to become a key global metals centre. Hui said seven local warehouse facilities have been approved by the LME so far to speed up such trades, which could in turn boost financial services growth in the future. "For warehousing, it's not just about keeping them [the commodities] here. Sometimes, after [the commodities] are stored, some of their warehouse receipts can be used as collaterals for financing, which can lead to some derivative financial services. 'And even if their goods are stored in the warehouse, there will also be urgent insurance demands and so on. So, in fact, I think if our policies are well implemented, some corresponding institutions will naturally take these opportunities to develop their businesses.' Hui also said the government will continue to improve the financial connectivity between the SAR and mainland markets. Efforts include launching the offshore Treasury bond futures as well as real estate investment trusts (Reits) under the Stock Connect programmes.
The Star
12-06-2025
- Business
- The Star
Hong Kong confirmed as one of first jurisdictions targeting adoption of ISSB Standards
HONG KONG, June 12 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government on Thursday welcomed the publication of jurisdictional profiles by the International Financial Reporting Standards Foundation (IFRS Foundation), which confirmed Hong Kong as one of the first jurisdictions to have set a target of fully adopting the International Financial Reporting Standards -- Sustainability Disclosure Standards (ISSB Standards). The IFRS Foundation's move affirmed Hong Kong's efforts and determination in supporting and promoting a common international language in sustainability disclosures, said Christopher Hui, secretary for financial services and the treasury of the HKSAR government. It also demonstrated Hong Kong's strengths in the field of sustainable finance, helping to consolidate Hong Kong's position as an international sustainable finance hub, he said. "As a leading international financial center, Hong Kong will continue to be at the forefront in aligning with international standards and promoting market best practices," said Hui. The Hong Kong Institute of Certified Public Accountants published last December the Hong Kong Sustainability Disclosure Standards that are fully aligned with the ISSB Standards to be effective from August 1. In the same month last year, the Financial Services and the Treasury Bureau of the HKSAR government launched the Roadmap on Sustainability Disclosure in Hong Kong, which provided a well-defined pathway for large publicly accountable entities to fully adopt the ISSB Standards no later than 2028.
International Business Times
12-06-2025
- Entertainment
- International Business Times
B: MY BOYZ: SBS New Boy Group Survival Show Preview and Spoilers
SBS has a new musical survival show in the making, titled B: MY BOYZ. The boy group competition program will feature fierce competition among contestants. They do their best to become a part of the new musical band. They will take part in various challenges and showcase their singing skills to win the competition. With 30 contestants, over five masters, and two hosts, the reality show is sure to capture the attention of Korean music lovers worldwide. Here is everything you need to know about this competition program, including the premiere, preview, spoilers, streaming details, contestants, masters, and hosts. When and Where to Watch B: MY BOYZ? The boy group survival show will premiere on SBS on Saturday (June 14) at 5:20 pm KST. Korean music lovers from countries including the US, Australia, New Zealand, Singapore, India, China, Canada, and the UK can watch the survival competition show with subtitles on Viki. It will feature contestants competing with one another to prove their ability in singing, performing, and producing. According to the production team, this reality show differs from other competition programs because it will feature globally recognized K-pop idols participating in the show to select the next generation of K-pop stars. Last month, SBS introduced the 30 contestants participating in the musical reality show by sharing their stunning profile photos. The participants are known as B: GINNER and the lineup includes people born between the years 2001 and 2011. Here is the Complete List of Contestants: Kim Bohyeon (May 23, 2001) Hyo (February 9, 2002) Li Zhiwei (May 29, 2002) Jang Won (August 3, 2002) Seo Junhyeok (April 23, 2003) Lim Jihwan (May 24, 2003) Haruto (October 10, 2003) Ikuto (January 8, 2004) Lee Jumyeong (March 25, 2004) Hiroto (July 23, 2004) Yang Chengxi (February 21, 2005) Luo Zhuobin (April 26, 2005) Hwang Heewoo (October 17, 2005) Kang Junseong (October 27, 2005) William (January 31, 2006) Ai (February 5, 2006) Lee Yunsung (June 2, 2006) Jang Huigwang (October 19, 2006) Yang Hyeonbin (October 24, 2006) Park Junhyeok (October 25, 2006) Moon Jaeil (January 10, 2007) Kai (February 6, 2007) Choi Yohan (October 11, 2007) Lee Seongin (February 19, 2008) Kim Jeonghoon (April 22, 2008) Suthaschai (June 12, 2008) Lee Yeontae (March 16, 2009) Didi (August 15, 2009) Park Sechan (October 16, 2009) Ban Daniel (May 3, 2011) Hosts and Master Lineup Entertainer Dex and i-dle member Miyeon will host the SBS musical television show, which will feature a stunning lineup of Masters. The Masters will help the contestants develop their skills in producing, singing, and performing. GFRIEND member Yuju, PENTAGON members Hui and Jinho, and 1MILLION dancers Lia Kim and Lee Yoojung are the Masters of B: MY BOYZ. Jinho and Yuju will help the participants with their vocal skills, while Hui will focus on producing musical programs. Lia Kim and Lee Yoojung will help the contestants with dancing. B: MY BOYZ Synopsis and Teaser The search for the newest boy group is underway! Hosted by DEX and I-DLE's Miyeon, this program features over two dozen talented contestants from across Asia competing in various vocal, performance, and music production challenges to see if they have what it takes to become a K-pop idol. Veteran K-pop stars Hui and Jinho of PENTAGON, Yuju of GFRIEND, and 1MILLION dance studio choreographers Lia Kim and Lee Yoo Jung will mentor the aspiring idols. They will help determine who will make the final lineup. Who will form the final eight? SBS has released a teaser introducing the 30 contestants. The video teases surprises for the participants as it shows them excitedly focusing on the stage.
Business Times
08-06-2025
- Business Times
BT Money Hacks: The travel hacks edition 2025
It is vacation season and time to unlock the best travel hacks with Howie Lim - who delivers a treasure trove of advice for your next adventure. In the latest episode of Money Hacks by The Business Times, she dives deep into the secrets of scoring the best travel deals with Cyndi Hui, a travel trends and destination expert from Skyscanner. Discover mid-year holiday deals The mid-year holidays are upon us, and if you haven't yet booked your vacation, fear not! This episode highlights how there's still time to snag fantastic deals, maximise your travel value, and enhance your overall travel experience. Cyndi Hui, from Skyscanner, shares invaluable data-driven insights on how Singaporeans are planning their vacations amidst global tensions and economic uncertainties. According to Skyscanner's research, over 90 per cent of Singaporeans are still looking to travel as much as or more than last year, illustrating a resilient wanderlust that's unaffected by current global events. Maximise your budget A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Learn how to become a savvy traveller by making the most of your budget. Hui discusses various techniques, such as using price comparison tools, signing up for price alerts, and being flexible with travel dates to save costs. Whether it's taking indirect flights or exploring alternative destinations, there are tools to help stretch every dollar. If you're tired of the usual tourist hotspots, this episode will inspire you to explore lesser-known destinations. Hui shares her personal experience of using Skyscanner's Everywhere Search to plan a budget-friendly holiday to Phu Quoc, Vietnam, as an alternative to the over-visited beaches of Bali. She also mentions the hidden gem of Labuan Bajo in Indonesia, perfect for a tranquil getaway. Catered tips for families and affluent travellers Understand the best strategies for families who can't be flexible with school holidays and are looking to save. Hui suggests booking early, and using price alerts for flight deals. For affluent travellers, the episode explores how to maximise luxury travel experiences without necessarily increasing the budget, offering tips on traveling during shoulder seasons, and staying in premium accommodations at alternative, less expensive destinations. Looking ahead to the December holidays, Hui unveils upcoming travel trends, such as astro-themed travel for those interested in seeing the Northern Lights, sports tourism, and wellness retreats. Whether you're into art galleries or rugged countryside experiences, there's something for everyone planning their next big vacation. Listen now for valuable tips to score the best deals and new travel trends to make you the savvy traveller. If you have feedback or an idea for a podcast episode, contact us at btpodcasts@ Stay tuned for more episodes of Money Hacks with Howie Lim. --- Written and hosted by: Howie Lim (howielim@ With Cyndi Hui, travel trends and destination expert, Skyscanner Edited by: Howie Lim & Claressa Monteiro Produced by: Howie Lim & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Money Hacks podcasts every Monday: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Correspondents: BT Market Focus at: BT Podcasts at: BT Branded Podcasts at: BT Lens On:
