Cao Guizi
Cho Kwai Tsz is a Hong Kong general practitioner, businessman, and Chinese political figure. He is the founder and former non-executive director of Town Health International,[1][2] a former shareholder and executive director of Convoy Global, and a Director of Po Leung Kuk in the Ding Yau year.[3][4][5] He is also a racehorse co-owner of “Who Dares Wins” and “Charge Forward” under the Hong Kong Jockey Club, and a Standing Committee Member of the 13th Guangzhou Municipal Committee of the Chinese People's Political Consultative Conference.[6][7][8][9][10]
His company, Town Health International, was suspended by the Securities and Futures Commission. Convoy Global, where he was a director, was investigated by the ICAC and SFC, and four current and former executives were arrested. It was rumored that Cho controlled 50 listed companies on the Main Board and GEM, with total market capitalization in the billions.
Biography
Early Life
Cho's father, Cho Kam Luk, was a Chinese-Indian who operated a timber business in India, where Cho was born. During the Sino-Indian border conflict, his father was imprisoned in a concentration camp, and the family lost its fortune. They later returned to China, but during the Cultural Revolution, moved again to Hong Kong when Cho was eight years old.
Cho did not speak English at the time. His father attended night school and taught English to his sons. Cho later entered the Faculty of Medicine at the University of Hong Kong. He previously studied at Heep Woh Primary School (morning session, Grade 6, 1976), where he was a classmate of actor Ng Kai Wah, and at Ying Wa College.
Stock Market Speculator and Financial Engineering Enthusiast
Cho and other market players used to control a chain of listed companies, inflate their stock prices, use leverage for borrowing, and reinvest to maintain credit capacity with brokers. These operations depended on shell sales for revenue. Maintaining dozens of listed companies without real business or income incurred heavy costs and could not provide dividends. Lack of capital to cover financing costs was a key reason behind the collapse. It is believed this situation affected not only Dr. Cho, but also his associates. He reportedly sought HKD 2 billion in financial help from billionaire Choi Chi Ming (rumored to be his backer), but was rejected.
2019 Conspiracy to Defraud Case (Acquitted)
On 16 May 2019, Cho was charged with conspiracy to defraud the Stock Exchange, Convoy's board, shareholders, and investors, causing Convoy's subsidiary to acquire his investment firm for over HKD 89 million. On 30 November 2020, the District Court acquitted Cho and two ex-executives of conspiracy and making false statements as directors.
2019 Loan Default Case (Resolved via Property Foreclosure)
In March 2019, Cho and his wife Au Chui Yee borrowed HKD 100 million from Starcrest Ltd., using several apartments and parking spaces in The Beverly Hills, Tai Po, as collateral. In August, Starcrest sued for HKD 118 million in principal and interest, and sought repossession. In October, in Cho’s absence, the court ruled in favor of the plaintiff. On 23 April 2020, the court formally granted Starcrest permission to sell the properties to recover the debt.
Other Debts
As of June 2024, Cho's total debts reached HKD 560 million. Creditors include Choi Chi Ming, Cheung Yan Cheung, Ling Wai Hoi, Ng Ting Ho, Chan Chi Fung, and Yuen Shu Ming.
Professional Qualifications
- Bachelor of Medicine and Surgery, University of Hong Kong
- Fellow, Hong Kong College of Family Physicians
- Fellow, Royal Australian College of General Practitioners
- Diploma in Child Health, Royal College of Physicians of London
- Diploma in Child Health, Royal College of Physicians and Surgeons of Ireland
- Diploma in Child Health, Royal College of Physicians and Surgeons of Glasgow
- Diploma in Practical Dermatology, Cardiff University, UK
Assets Held
- In 2013, purchased the top floor of Tower 3, Phase 1 of The Beverly Hills for approximately HKD 100 million
- Held 9% of 18.85% stake in Town Health International via a BVI company
See Also
- Town Health International
References and Notes
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-1
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-2
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-3
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-4
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-5
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-6
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-7
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-8
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-9
- ↑ https://zh.wikipedia.org/wiki/%E6%9B%B9%E8%B2%B4%E5%AD%90#cite_ref-10
External Links
- Politicians with medical background
- Businesspeople with medical background
- Hong Kong medical doctors
- Hong Kong businesspeople
- Standing Committee members of the Guangzhou CPPCC
- Po Leung Kuk Directors in Ding Yau year
- Chinese-Indians
- Hong Kong racehorse owners
- People surnamed Cho
- Alumni of Heep Woh Primary School
- Alumni of Ying Wa College
- Alumni of the University of Hong Kong
- Vice Chairpersons of Yan Oi Tong