Feng Jingxi
Fung King-hey ([1]) was originally from Shunde, Guangdong and born in Guangzhou. Fung King-hey was a property developer, stockbroker, and banker in Hong Kong.
Life
In 1938, Fung King-hey moved south from Guangzhou to Hong Kong, studying while working part-time. In 1941, he worked as an apprentice in a gold and silver jewelry shop, and later as a clerk and financial manager in a trading firm. He eventually ran his own small businesses, establishing Sun Hey Company, which was involved in rice trading, restaurant operations, and the water transport of agricultural products.
In 1958, Fung King-hey co-founded Wing Yip Company with Kwok Tak-seng, Lee Shau-kee, and six others to develop property and construction in Hong Kong. In 1963, the three collaborated again to establish Sun Hung Kai Enterprises Limited, the predecessor of Sun Hung Kai Properties. In 1965, during a run on Chinese banks in Hong Kong and the wave of emigration triggered by the Cultural Revolution, Fung remained confident in Hong Kong’s future. He purchased large amounts of land, and within three years, he and his partners built over 20 buildings. With the economic rebound, Sun Hung Kai made huge profits, and the trio became known as “business legends” and were dubbed the “Three Musketeers.”
In 1967, the Fung family immigrated to Vancouver, Canada. However, Fung and his wife soon returned to Hong Kong to continue their business ventures, leaving their children in Vancouver to complete secondary and university education. The family has retained Canadian citizenship to this day.
In 1969, Fung King-hey founded Sun Hung Kai Securities and Sun Hung Kai Finance Company.
In 1978, he established Sun Hung Kai (China) Ltd., and in 1982, obtained a Hong Kong banking license from the government. The company was renamed Sun Hung Kai Bank, with Fung serving as chairman. He passed away in August 1985 at the age of 63. Sun Hung Kai Bank was acquired in 1986 and is now known as Fubon Bank (Hong Kong).
Fung’s eldest son, Thomas Fung, is the founder, chairman, and CEO of the Canadian-based Fairchild Group and owns the Fairchild Media Group. His second son, Tony Fung, was chairman of Yu Ming Investments Limited until stepping down in May 2008.[2]
References
- ↑ Obituary of Fung King-hey. Wah Kiu Yat Po. 1985-08-30. Page 1 of Section 2.
- ↑ http://hk.news.yahoo.com/article/080526/9/71z5.htmlTemplate:Fix/category[dead link] Yu Ming (00666) Tony Fung resigns as chairman and non-executive director
See also
- Hong Kong Association of Banks
- List of bank runs in Hong Kong