Shun Tak Holdings

Shun Tak Holdings Limited (Chinese: 信德集團有限公司) is a Hong Kong–Macau company founded in 1972. It has been one of the constituents of the Hang Seng Hong Kong MidCap Index since 11 September 2006. The company is active in shipping, property, hospitality, and investments businesses. Its shipping division, operating under the name of TurboJET, operates hydrofoil and high-speed ferry services between Hong Kong and Macau as a joint venture with China Travel International Investment Hong Kong.

Shun Tak Holdings Limited
信德集團有限公司
SEHK: 242
Industry
  • Shipping
  • Property
  • Hospitality
  • Investments
Founded1972
FounderStanley Ho
HeadquartersShun Tak Centre, Hong Kong
SubsidiariesTurboJET
Websitewww.shuntakgroup.com
Shun Tak Holdings
Traditional Chinese信德集團有限公司
Simplified Chinese信德集团有限公司
Economy of Macau
Currency and identity
Resources
Companies
Other Macau topics

The company's founder and executive chairman is Stanley Ho. His daughter Pansy Ho serves as managing director[1] with two of his other daughters, Daisy Ho Chiu-fung and Maisy Ho Chiu-ha, as executive directors along with David Shum.[2]

History

Until late 2010, Stanley Ho controlled the company. An 11.55 per cent stake in Shun Tak was transferred by Ho to Hanika Realty, a company controlled by second wife Lucina Laam and his five children with her. The transfer made Hanika Shun Tak's biggest single shareholder.[3]

In April 2015, Shun Tak Holdings Ltd purchased a hotel property in Shanghai for RMB700 million (MOP900 million).[4]

In January 2017, Shun Tak acquired a Singapore commercial complex for US$246.75 million.[5]

Business operations

The company has extensive shipping and property holdings. Shipping companies owned include: Conwick Investment Ltd; Far East Hydrofoil Company Ltd; Hong Kong Macao Hydrofoil Company Ltd; Sunrise Field Ltd; Tai Tak Hing Shipping Company Ltd (the then independent company that owned the steamship ferry SS Fatshan, which sank off Lantau in Typhoon Rose in 1971 with the loss of 88 lives, en route from Macau); Wealth Trump Ltd; Shun Tak–China Travel Macau Ferries Ltd (formerly known as Hong Kong–Macau New World First Ferry Services (Macau) Ltd); and Companhia de Serviços de Ferry STCT (Macau) (formerly known as New Ferry - Transporte Maritimo de Passageiros (Macau)).[6][7]

Residential Properties in Macau
Property NameLocationResidential UnitsConstruction Completed InNos. of FloorsHeight
Nova Taipa GardensTaipa, Macautbc19972786.26 m
Nova CityTaipa, Macau1,932200836109.8 m
Nova ParkTaipa, Macautbcscheduled 201442tbc

References
  1. Cottrell, Christopher (2008-03-12), "The Macao maven - China's Power Women", China International Business, archived from the original on 2011-07-07, retrieved 2010-03-19
  2. Trigger, Rebecca (2010-12-31), "Shun Tak pushes back expected date for rights to Nam Van land", Macao Post Daily (1570): 3
  3. Gough, Neil (25 January 2011). "Stanley Ho seeks answers from family members", South China Morning Post
  4. "Shun Tak buys hotel property in Shanghai for RMB700 million | MACAU DAILY TIMES 澳門每日時報". macaudailytimes.com.mo. Retrieved 2017-12-18.
  5. "Shun Tak acquires Singapore commercial complex". Retrieved 2018-03-13.
  6. Shun Tak Holdings Annual Report 2011
  7. Ancestral Images: A Hong Kong Collection; Baker, Hugh D.R.; Royal Asiatic Society; 2011; ISBN 978-988-8083-09-1; p230
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