Far East Consortium
| Company type | Public |
|---|---|
| Industry | Property development, Hotel management, Car park operations, Gaming, Mortgage services |
| Founded | 1950 |
| Founder | Deacon Chiu |
| Headquarters | Central , Hong Kong |
Area served | Hong Kong, Mainland China, Australia, Malaysia, Singapore, United Kingdom, New Zealand, Europe |
Key people | David Chiu (Chairman and CEO) |
| Products | Property development and investment, Hotel management and development, Car park operations, Facilities management, Securities and financial products investments, Gaming, Mortgage services |
Far East Consortium International Limited (FEC) () is a company established in Hong Kong in 1950 by Deacon Chiu and became publicly traded on the Hong Kong Stock Exchange in 1972. With its headquarters situated in Central, Hong Kong, FEC's core activities encompass property development and investment, hotel management and development, car park operations, facilities management, investments in securities and financial products, gaming ventures, and mortgage services.
The Group implements a strategy of geographical diversification combined with targeting the "Asian wallet," operating across multiple regions including Hong Kong, Mainland China, Australia, Malaysia, Singapore, the United Kingdom, New Zealand, and various European markets.
Senior leadership
From its inception until 2011, FEC was led by Deacon Chiu. Leadership then transitioned to his son David Chiu, who assumed the role of chairman. David Chiu has also held the position of CEO since it was established in 1997.
Chairmen
- Deacon Chiu (1950–2011)
- David Chiu (2011–present)
CEOs
- David Chiu (1997–present)
Property
FEC’s real estate holdings feature residential and mixed-use projects situated in Australia, Mainland China, Hong Kong, Malaysia, Singapore, and the United Kingdom.
Hotel
The Group manages 20 hotels comprising roughly 6,000 rooms located across Hong Kong, Mainland China, the United Kingdom, Singapore, and Malaysia. It maintains a significant strategic investment in Dorsett Hospitality International (HKEx: 2266), a global hotel group founded in 2007 and listed on the Hong Kong Stock Exchange since 2010. Dorsett’s portfolio includes ownership and management of hotels primarily within Asia and the UK, including locations such as Hong Kong; Malaysian cities Kuala Lumpur, Johor Bahru, Labuan, and Subang; Chinese cities Shanghai, Chengdu, Jiujiang, Wuhan; Singapore; and London.
Car park
FEC ranks among Australia’s leading car park operators with an estimated market share of around 20% as of 2015. By 30 September 2015, its assets comprised 351 car parks offering approximately 70,700 parking bays. The division has also extended its services into facilities management in Australian cities like Brisbane, Melbourne, Adelaide as well as Johor Bahru in Malaysia.
Gaming
In late 2014, FEC partnered with Chow Tai Fook Enterprises and Star Entertainment Group to bid for the development of an entertainment precinct and integrated resort on a 9.4-hectare site at Queen’s Wharf Brisbane. In July 2015, the Queensland State government selected the Destination Brisbane Consortium as the preferred developer for this project encompassing entertainment venues, resort facilities, and residential components.
Through its wholly owned subsidiary Trans World Corporation—rebranded as "PALASINO"—FEC operates three casinos located in the Czech Republic. In 2022, FEC obtained an online gaming license in Malta as part of its strategic move to expand into the European gaming sector.
Mortgage services
Via BC Invest, FEC provides residential mortgage products aimed at international non-resident buyers to complement its property development operations. BC Invest also delivers investment solutions and launched one of Australia’s pioneering green mortgage funds in 2022. Since 2020, it has completed seven residential mortgage-backed securities (RMBS) issuances within the Australian bond market.