K. Wah News & Feature Stories
K. Wah Group Spring Cocktail Reception
“A New Year of Prosperity & Progress”
K. Wah Group held its spring cocktail reception in Hong Kong on 20 February to express gratitude to business partners and the community for their long-term support and also to celebrate the advent of the Chinese New Year, as well as the stellar performance of its four major businesses in the past year.
The reception was graced by the presence of top government officials and business leaders in Hong Kong and from Mainland China and Macau. It had The Hon Tung Chee Hwa, Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference; Ms Yin Xiaojing, Deputy Director of the Liaison Office of the Central People's Government in the HKSAR; Mr Hu Jianzhong, Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR; Mr Godfrey Leung, Under Secretary for Commerce and Economic Development of the HKSAR; Professor Sophia Chan, Under Secretary for Food and Health of the HKSAR; and Ms Florence Hui, Under Secretary for Home Affairs of the HKSAR as the officiating guests, who hosted a toasting ceremony together with Dr Lui Che-woo, Chairman of K. Wah Group; Mrs CW Lui, and other management of the Group.
Dr Lui Che-woo, Chairman of K. Wah Group, said the four principal business divisions of K. Wah Group – property development, entertainment & leisure, construction materials and hospitality – continued to deliver solid results on all fronts thanks to the unfailing support of all stakeholders and partners. He said in his speech, “I am most proud of the brilliant management team and staff at K. Wah. In today’s business community, we get to hear a lot about “corporate responsibility”. In my humble view, the fundamental responsibility of a corporation is to make contributions to the society, create job opportunities and maintain stability in business, running it properly and then seeking expansion as appropriate, and making itself accountable to the community, partners, customers and staff”
Four major businesses reach new milestones
With a total investment up to HK$100 billion, the major developments of Phases 3 and 4 of Galaxy MacauTM under Galaxy Entertainment Group (“GEG”) had gradually begun. GEG will continue to reinforce its leadership as an integrated leisure and entertainment resort with the most diverse offerings in Macau. On the property business front, K. Wah International Holdings Limited (“KWIH”) secured two land parcels in Hong Kong and Nanjing. And with the closing of HK$8 billion club deal loan with 15 banks, enabling it to enhance its strengths and expand its business footprint. As for its hotel business, the Group will launch a new serviced apartment project on Hong Kong Island this year. Furthermore, K. Wah Construction Materials Limited (“KWCM”) is undertaking asphalt resurfacing work for the airport’s north runway, a vivid example of its active involvement in major local infrastructure projects. KWCM has over 70% market share in Southwest region and is one of the largest ground granulated blast-furnace slag producers in China, with an annual production volume of over 1.3 million tonnes.
Giving back to society and helping to foster social harmony and unity
Apart from growing its businesses, K. Wah Group continued to uphold its belief of “giving back to the society from which it benefits”. LUI Che Woo Prize – Prize for World Civilisation, founded by Dr Lui, was inaugurated and the first prizes were presented last year, recognising outstanding achievements of individuals who have contributed to civilisation and bringing together all sectors in society to promote the love for “truth, kindness and beauty”.
Advocating harmony and innovation and supporting arts for all
The cocktail reception leading off with a traditional-and-hip-hop mix lion dance which married modern pop dance moves with the traditional lion dance, a perfect mirror of the Group's management culture that blends the East and West and its innovative spirit. Following immediately after was an original Chinese opera performance, titled The Master (師公出馬) by the members of the Cha Duk Chang Children's Cantonese Opera Association, wishing to promote the building of harmonious homes.
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K. Wah Group Spring Cocktail Reception
“A New Year of Prosperity & Progress” 20 Feb 2017