Press Releases

(Hong Kong, 11 December 2014) – K. Wah Group (the “Group”) today held its 2014 annual dinner at the Hong Kong Conventional and Exhibition Centre, celebrating its outstanding achievements of four major businesses over the past year with its staff and guests from different sectors, and expressing the Group’s gratitude for their support. The officiating guests, The Hon Raymond Tam Chi-yuen, Secretary for Constitutional and Mainland Affairs and Shen Chong, Director General of the Coordination Department, Liaison Office of the Central People's Government in the HKSAR, joined Dr Lui Che-woo, Chairman of K. Wah Group, Mrs Lui and the senior management of the Group at the toasting ceremony. The occasion also marked the beginning of its 60th anniversary, further promoting the spirit and vision of “Building the Future With Passion.” 

Dr Lui Che-woo, Chairman of K. Wah Group, said, “The diamond jubilee is an important milestone of the Group. I take this opportunity to thank all 25,000 staff for their hard work through the years and the generous support of our partners.”

Francis Lui, Vice Chairman of K. Wah Group, said, “A history of six decades represents a cycle in the Chinese calendar, which also signifies the beginning of a new life. K. Wah Group has experienced years of endeavours and has grown strong over the past 60 years. We will carry forward our tradition and embrace a broader vision of our goal.”

 

Dr Lui Che-woo, Chairman of K. Wah Group (in the middle) unveils the 60th anniversary logo, reflecting their commitment to “Building the Future With Passion”

Building consensus in society to maintain solid foundation

Dr Lui Che-woo also urge people from different social strata to treasure the strengths that Hong Kong has strived to build, “Hong Kong has grown from an unknown backwater into an international cosmopolitan city, thanks to our legal system which enables the rule of law and forges a firm economic foundation. However, these strengths that we have worked hard to build over the years may have been eroded by the illegal action of Occupy Central. Over more than 70 days, the movement obstructed Hong Kong’s transportation network, paralyzing the streets and have adversely affected the economy and the rule of law, made a serious impact on the livelihoods of many people, and possibly even weakened Hong Kong’s competitiveness.” Dr Lui hoped that Hong Kong people, in particular the young generation, could join together to support the continuous development of Hong Kong. He also pointed out that adopting an uncooperative approach towards the local government and even the central government might not solve the current social problems but could instead weaken the support from the central government to Hong Kong. Dr Lui said, “I sincerely hope that young people can focus their aspirations, dreams and thoughts on building a better and fairer society and contributing to the advance of the country so as to bolster Hong Kong’s prosperous economy and people's livelihoods. This is the real Hong Kong spirit.” He also expressed his gratitude to the police for their dedication, professional behaviour and transparency despite the disorder and occasional outbreaks of violence during these months.

To reach a new horizon at the diamond jubilee, the four major businesses achieve sustainable growth

Despite the challenges over the past year, the Group’s four major businesses continue to grow steadily and advance to a new horizon in many respects. More than 20 projects are in the pipeline. Phase 2 of Galaxy Macau^TM under Galaxy Entertainment Group (“GEG”) is to be completed as the next large-scale integrated entertainment resort in Macau by mid-2015. The Grand Waldo Complex will soon re-open in a new style after refurbishment. Together with Phase 3 and 4 of Galaxy Macau^TM and the conceptual plans for the RMB10 billion Hengqin Island project, GEG is confident in realizing its strategic goal to become globally recognized as “Asia’s leading gaming and entertainment enterprise.

K. Wah International Holdings Limited (“KWIH”), another subsidiary of the Group, has continued to provide high quality, innovative and competitive products. KWIH will continue its asset turnover strategy with the launch of more than 10 projects in China and Hong Kong in 2015. In September this year, KWIH was included as a constituent of the Hang Seng Composite Mid-Cap Index, and became an eligible stock in the Shanghai-Hong Kong Stock Connect Scheme.

In addition, K. Wah Construction Materials Limited has become an environmental value-added company. It will add two ground granulated blast furnace slag production lines and introduce advanced energy-saving facilities in the coming year to actively promote green construction.

Establishment of GEG Charitable Foundation to give back to society

As part of its corporate social responsibility to give back to society, the Group has announced the establishment of a HK$1.3 billion “GEG Charitable Foundation,” which aims at nurturing the young generation. Francis Lui said, “The Foundation will focus on the locations with acute needs in the Greater China Region, to help cultivate in the young proper moral values and nurture their sense of belonging to society and the community. We hope that this initiative will inspire more people to follow suit.”

Honoured guests gather to take the atmosphere of the dinner to its climax

The dinner started with an energetic and enthusiastic corporate video created with new projection mapping technology. The video presented each of the Group’s flagship construction projects, demonstrating K Wah’s professionalism and innovation. After the video, the dancing performance of the staff, the singing of the students of Opera Hong Kong who won “K Wah Vocal Scholarships” and the piano playing and singing of classic songs have collectively brought the atmosphere of the dinner to its climax. Guests attending the dinner included luminaries from politics and business, leaders and academics from tertiary institutions, representatives from the educational sector and prominent personalities across society.

 

Outstanding dance performance by staff of K Wah Group’s four major businesses showcases the unity of the Group and the energy of its elite teams