Some patrons of an exclusive Hong Kong sports club have escalated action against the Rosewood Hotel Group’s plan to change operations at its clubhouse in Central, but the hospitality firm says it has made some “refinements” to the arrangement. A representative of a group of concerned patrons at the Hong Kong Golf & Tennis Academy…
The takeover of an exclusive Hong Kong sports club’s top venue in Central has been postponed following opposition from some members, the South China Morning Post learned. A source said that following a meeting involving members of the Hong Kong Golf & Tennis Academy (HKGTA), the date of the merger of operations for its Town…
An exclusive Hong Kong sports club will press ahead with an imminent change of operator for its Central clubhouse despite objections by some of its members about unfair access and incompatibility of their client profiles, the South China Morning Post has learned. The controversy began about a fortnight ago after private members’ club Carlyle &…
Blackstone’s potential acquisition of a stake in New World Development (NWD) will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. The New York-based private equity giant’s investment in NWD could take the form of “shareholder loans or direct equity financing, as well as…
Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter. “Rosewood has delivered exceptional results in recent years and is one of the…
Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion). Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units, as well as Latrobe Valley Power (LVP) and its subsidiaries,…