Albert Yeung

Albert Yeung
Born	Yeung Sau Shing March 2, 1943 (1943-03-02) Chaozhou, Guangdong, China
Occupation	Entrepreneur
Years active	1964–present
Relatives	Yeung Shing（Father） Alex Yeung (Son) Gilbert Yeung (Son) Cindy Yeung (Daughter) Daisy Yeung(Daughter)

Albert Yeung (Yeung Sau-shing, Chinese: 楊受成), born in 1944 with ancestry in Chaozhou, Guangdong, China, is a well known entrepreneur in Hong Kong. He is now the Chairman of Emperor Group.

Early years

Albert Yeung was born in Hong Kong in 1943 and traces his root to Chiu Chow, Guangdong Province, China. His father, Mr Yeung Shing, opened a watch shop named "Shing On Kee Watch Shop" in 1942, setting the business foundation. In the 1960s his father lent him 200,000 yuan to start his watch business. In 1964, he opened his own watch shop, "Observatory Watch & Jewelery" on Nathan Road, Kowloon.

Two years after he opened his first shop, he obtained the distribution rights of Rolex and Omega watches and expanded his business to jewellery in 1966 and later on to other ventures. He was soon successful and became known as the "King of clocks and watches" (鐘錶大王).

Business career

Albert Yeung is the founder and chairman of the Emperor Group. With its beginning as a watch retailer, Emperor Group has grown and expanded into a diversified group of listed companies that includes financial services, property, watch and jewellery, entertainment and films, hospitality, publishing and printing, furniture as well as catering. In recent years, the Group has ventured into overseas markets outside Hong Kong and expanded its foothold in Mainland China, Macau, Thailand, Indonesia, the Democratic People’s Republic of Korea, the United States and Europe. The Group now has more than 7,000 employees and over 500 subsidiaries and branch offices.

Financial Services

Provision of financial services is the principal business of the Group. Emperor Financial Capital Group has branches outnumbering all other competitors in the industry and a business presence expanded to Macau and South East Asia. Its subsidiaries include Emperor International Exchange (Hong Kong) Company Limited, which specializes in forex trading, and Emperor Bullion Investments (Asia) Limited, which provides bullion and precious metal trading services. The Group first went beyond Hong Kong with the establishment of Emperor International (Macau) Limited in 1990. Emperor Capital Group is engaged in security and future brokerage business. Scope of service of its two subsidiaries, Emperor Securities Limited and Emperor Futures Limited, includes a full range of listed stocks, bonds, funds, futures, options and derivative products traded both in Hong Kong and overseas. Emperor Wealth Management Limited, another subsidiary, was founded to offer one-stop financial planning services. Professional advisory services on a full range of corporate finance exercises and general money lending services are also available. Emperor Capital Group Limited (SEHK: 717) has been listed on the main board of the Stock Exchange of Hong Kong since April 2007.

Property

Property investment is one of the core businesses of the Group. Coordinating with the Group’s diversified development strategies, Emperor International Holdings Limited (SEHK: 163) invests in, develops and manages a wide range of property development projects, including large-scale integrated complexes, office buildings, shopping malls, residential blocks, industrial buildings and hotels in Hong Kong, Macau and other major cities in China.

In the 1970s, Albert Yeung moved into the real estate business with as many as 20 simultaneous projects. He confronted difficulties with the Good World Group and ran up debts of 320 million yuan, which he struggled to repay.

Watch & Jewellery

Emperor Watch & Jewellery Limited (SEHK: 887) is the founding business of Emperor Group. It is a retailer of luxury timepieces, including Rolex, Patek Philippe, Cartier, Omega and more. Its exclusive craftsmanship in jewellery has also gained worldwide acclamation and a significant role in the industry in Asia. Emperor Watch & Jewellery Limited (SEHK: 887) has been listed on the main board of the Stock Exchange of Hong Kong since July 2008.

Entertainment & Films

Emperor Entertainment Group was established in 1999. Its major businesses include production and distribution of local and foreign records, music publishing, talent management and concert production. The company is also engaged in theater, film and TV production, multimedia and merchandise licensing, retail and other businesses. It maintains a close partnership with the international actor Jackie Chan by means of a joint venture JCE Movies Limited. Emperor Entertainment Group (China) and SFS Emperor Limited are subsidiaries in China.

Hospitality

Emperor Group owns three hotels at present: Grand Emperor Hotel located in Macau, offering leisure and entertainment services, Emperor (Happy Valley) Hotel and Emperor Hotel and Casino in Rason, North Korea. Grand Emperor Hotel (Macau) is managed by Emperor Entertainment Hotel Limited (SEHK: 296).

In 1999 Albert Yeung invested HK$1.4 billion in the Emperor hotel and Casino in the Rason North Korea Rajin-Sonbong Economic Special Zone. In 2005 the casino came to a close when a mainland China official from the border town of Yanbian gambled away HK$2.83 million of public money. Before the closure the casino had 575 employees, of whom 275 are North Korean while the rest are Chinese, with a few managers from Hong Kong. He was a rival to Stanley Ho, who also ran a competing casino in DPRK.

Publishing & Printing

Emperor group's New Media Group Holdings Limited (SEHK: 708) is principally engaged in magazine publishing and distribution as well as in providing a marketing platform through advertising spaces to clients. It publishes five magazines every week: Oriental Sunday, Weekend Weekly, New Monday, Fashion & Beauty and Economic Digest.

The group also publishes the Hong Kong Daily News, a comprehensive Chinese newspaper with a long history, and runs a printing company, Hong Kong Daily Offset Printing Company Limited.

Furniture

Ulferts of Sweden (Far East) Limited is a furniture chain store in Hong Kong established under Yeung's Emperor brand in 1975. In 1979, Ulferts started the production and sales of its proprietary mattress products under the name of 'Ulfenbo'. In 2003, Ulferts launched a new brand @Home, offering chic, high quality furniture to suit the distinctive customer needs.In 2010, Ulferts further extended its custom made furniture and furnishing design services to individual households with a new brand 'U.Design'.

Food & Restaurants

Emperor group owns some catering brands of different genres, including dragon-i, busy suzie, Suishaya Japanese Restaurant, misocool, MAZTER, TAZMANIA BALLROOM, G. Sushi.

Family background

Yeung has two sons and three daughters. His eldest son, Gilbert Yeung, manages dragon-i, busy suzie and tasmania ballroom whereas his second son, Alex Yeung, serves the Group as Corporate Executive. His eldest daughter, Cindy Yeung, is in charge of Emperor Watch and Jewellery while his second daughter, Daisy Yeung, oversees Emperor Capital Group. He firmly believes that his close family ties are the source of strong support enabling him to face challenges ahead.

Honors

Year	Awards and Honor Titles
2011	“Hong Kong's 40 Richest list” - Forbes
	Elected as “Top 10 Philanthropists 2011”.
	Included in the “China’s charity Chart 2011”
	“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs
2010	Elected as “Top 10 Philanthropists 2010”
	Included in the “China’s charity Chart 2010”
	The Most Caring Individual Donor Award - "China Charity Award " - PRC's Ministry of Civil Affairs
2009	“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs
	Elected “Top 10 Philanthropists 2009”
	Included again in “China’s Charity Chart 2009” - China Association of Social Workers
	Honored “The 60 Most Influential Philanthropists in China’s Charity Development” - China’s Charity Chart Office, among the 5 Hong Kong based philanthropists
2008	"The World Chinese Charity Award", United World Chinese Association
	“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs
	"Honorary Professor" - Guangdong University of Finance
	"Director", "Honorary President", Shanghai Institute of Visual Art, Fudan University - The Emperor School of Performing Arts
2007	“China’s Outstanding Charity Contribution Award”,“China‘s Charitable Person” - the China Charity Federation
	“Special Charity Award”,“China‘s Charity Chart 2007” - China Association of Social Workers
	“Life Honorary President",Social Workers Across Borders
	“Degree of Honorary Doctor of Commerce (Honoris Causiby)” - the University of West Alabama in the USA
	"World Outstanding Chinese Award", "Life Honorary President", United World Chinese Association
2006	“Life Honorary President” - Asian Basketball Association
2005	“China Charity Award” - the Ministry of Civil Affairs of China and the China Charity Federation
	Elected one of the “Top 10 Charity Stars in the PRC”
2000	“100 Most Powerful Figures in the USA” - Hollywood Reporter, the US movie magazine
1998	“Honorary Trustee” - Peking University
1994	“Honorary Professor of Law” - China University of Political Science and Law
	“Honorary Consultant of All China Lawyers Association” - the All China Lawyers Association
1976	"Charter President", Lion Club of South Kowloon

Community services and charity work

Embracing the mission "From the community, To the community", Yeung has been actively involved in community services. He was the Charter President of “Lion Club of South Kowloon” in 1976. Under his leadership, the Group has established four foundations in order to coordinate charitable works. In early 2004, the Group set up the “Hong Kong Daily News Foundation” to leverage the media’s influence to attract more donations. In 2008, Yeung set up "Albert Yeung Sau Shing Charity Foundation" under his own name, which is dedicated to supporting non-profit sports, educational and cultural activities.

Yeung donated nearly 20 million dollars after the earthquake hit Sichuan in May 2008. To recognize Beijing Olympic gold medalists' contributions to sports development in China, he also awarded 12.6 million dollars to the 63 athletes.

The Jackie Chan and Albert Yeung Charity Foundation, founded by Chan and Yeung themselves, donated RMB 10 million dollars to the Ministry of Civil Affairs of the PRC as a special fund to support the relief efforts after the earthquake in Wenchuan County, Sichuan Province in May 2008.

Charity Foundation

Yeung is particularly concerned about education. Apart from setting up “Emperor Foundation Scholarship” for seven tertiary institutions in Hong Kong, he has made donations to numerous education funds in China, including the “Ministry of Justice, PRC Education Fund”, the “China University of Political Science and Law – C.U.P.L. Mr Albert Yeung Education Fund”, the "Peking University Education Foundation" and “Xiamen Education Fund” for students with top academic achievements or underprivileged background. He also invested and donated RMB 30 million to establish “Shanghai Institute of Visual Art, Fudan University – The Emperor School of Performing Arts” to cultivate new talents in China.

Hong Kong

Yeung has also been very active in charity works in his hometown Hong Kong—to name a few, “Business Community Relief Fund for Victims of SARS” in 2003, “Together we care, Love for South Asia” Charity Show in 2005, “Walk for Hospice” in 2009 and “A Feast of Tastes 2010”. The beneficiaries included The Community Chest, Tung Wah Group of Hospitals, World Vision of Hong Kong, Hong Kong Red Cross, the Socitey for the Promotion of Hospice Care and St. James’ Settlement.

Mainland

Yeung once described himself, “Although I was born in Hong Kong, my roots are in the Mainland. My heart always lies with my country and I will stick with her through thick and thin.” On the memorable occasion of the 10th anniversary of Hong Kong’s return to China in 2007, he particularly expressed his excitement and gaiety in sponsoring more than HKD 4 million to the official celebration event “Harbour Extravaganza”, a firework display and gala dinner.

He has been making donations to various foundations in China and the accumulated amount has nearly reached HKD 200 million. Some examples of his givings include “China Flood Relief Fund” in 1991, “Hubei Disaster Relief Fund” and a donation of HK$18.5 million to set up “Tung Wah Group Yeung Sing Memorial Long Stay Care Home” in 1998, the setting up of "Jackie Chan and Albert Yeung Charity Foundation Baoding Child Care Centre" in 2004, and the establishment of “Hubei Hong Kong Emperor Elderly Care Centre” and "Jackie Chan and Albert Yeung Charity Foundation Baoding Elderly Care Centre" in 2006, the provision of hospice service in Hubei in collaboration with the “Social Workers Across Borders” in 2007, which made him win "The Most Influential Charity Project Nomination Award" presented by the Ministry of Civil Affairs of China in the same year, donations to victims of the snowstorm in China and Sichuan earthquake in 2008, funding to the set-up of “Albert Yeung Sau Shing Charity Foundation (Shunping) Elderly Care Centre” in 2009 and a joint project with Civil Affairs Bureau of Shunping County, Hebei. Most recent donations include funding to set up “Albert Yeung Sau Shing Charity Foundation (Xiongzhou) Elderly Care Cetnre”, a joint project with Civil Affairs Bureau of Xiongzhou County, Hebei, and supporting relief works for Qinghai earthquake and Gansu mudslide victims in 2010.

Cash prizes of over RMB 10 million in total were also granted to Chinese gold medalists of 2008 Beijing Olympics in recognition of their brilliant performance.

Notable incidents

Jockey Cruz incident

On February 10, 1979 Yeung was involved in the beating of Jockey Tony Cruz (告東尼). Yeung was charged with obstruction of justice by the ICAC, Hong Kong's anti-corruption unit and held at Stanley Prison.

Michael Lam case

In 1995 Yeung was charged with threatening to break the leg of former employee Michael Lam, but in court, the case involving Lam became complicated when three witnesses, including the defendant were found to be willing to keep silent for HK$30 million. Lam said he developed a heart condition, and could not remember anything about Yeung's alleged bullying him at Mandarin Hotel.

JSG corruption case

In 2003 Yeung was again under investigation by the ICAC, along with Hong Kong singer Juno Mak, for allegedly bribing TVB in connection with the Jade Solid Gold awards.

Mugabe relations

Robert Mugabe is known internationally as an outcast and banned from most western countries (for human rights violation issues). Yeung sold Mugabe real estate property in Tai Po HK, when Mugabe paid 30% above the market price.

External links

• IMDb entry
• HK cinemagic entry