Deacon Chiu
Deacon Chiu Te-ken | |
|---|---|
| Born | Template:Birth date Shanghai |
| Died | March 17, 2015 (aged 90) |
| Occupation | Businessman |
| Known for | Founder of Far East Bank and Far East Consortium, Chairman of Asia Television (ATV) |
Deacon Chiu Te-ken, JP (; born 1 May 1924 – passed away 17 March 2015), was a prominent businessman based in Hong Kong. He established both Far East Bank and Far East Consortium and held the position of chairman at Asia Television (ATV).
Life
Born in Shanghai in 1924, Chiu relocated to Hong Kong in 1949. His initial venture involved opening a cinema in a countryside area. By 1959, he had gathered savings from local farmers to launch a native bank, known as a qianzhuang, called Far East Bank.
In 1962, he acquired the Lai Chi Kok Amusement Park, which was a well-known zoo and theme park. He founded Far East Consortium in 1972, serving as its chairman, with a primary focus on property development. That same year, the company went public, followed by its affiliate, Far East Holdings International, specializing in investments across Greater China, which was listed in 1973. Additionally, he chaired Far East Hotel and Entertainment, which became publicly traded in 1979.
Chiu rose to greater prominence in 1982 when he took over Rediffusion Television, rebranding it as Asia Television (ATV), before selling it in 1989. During his leadership, ATV was recognized for its stringent cost management.
In 1986, the group increased its holdings by acquiring a 34% share of Far East Holdings from the Chiu family.
During the 1980s, both Chiu and his son David faced allegations related to document falsification involving Far East Bank; however, these charges were dropped in 1993 following Chiu’s diagnosis with Alzheimer's disease. Subsequently, David was acquitted of fraud accusations.
On 8 September 2011, Chiu stepped down as chairman and took on the role of honorary chairman at Far East Consortium International Limited.
He was appointed as a Justice of the Peace in 1964 and served on the Chinese People's Political Consultative Conference starting in 1983. Chiu co-founded Yan Chai Hospital and acted as vice patron of the Community Chest of Hong Kong from 1968 onward. Moreover, he established the New Territories General Chamber of Commerce and founded Ju Ching Chu Secondary School in 1966, named after his first wife.
Death
Chiu passed away at the age of 90 on 17 March 2015 after collapsing at his residence in Ting Kau. To commemorate his life, Asia Television aired a tribute program titled "Miss You Ever Mr. Deacon Chiu Te Ken" on ATV Home the following night.
Family and personal
Together with his second wife Marion Chiu, he was a member of the Hong Kong Jockey Club, owning racehorses including Fair Wing, My Time, and Wind Winner.
He fathered seven sons and one daughter across two marriages.
In 2020, Liyuan Amusement Garden Co., Ltd., owned by the Chiu family, initiated legal action against Meili Farm Co., Ltd. over unauthorized barbecue operations on its Kau Wa Keng property.
Since 2022, his youngest son Duncan Chiu has been serving as a member of the Legislative Council of Hong Kong.
In popular culture
- The Romancing Star II (1988): The character Mr. Chow was played by Lo Hoi-pang.
- It Could Happen Here - The TV Magnate (1991): Lo Hoi-pang portrayed him.