Albert Yeung

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Albert Yeung
Born Yeung Sau Shing
(1943-03-02) March 2, 1943 (age 71)
Chaozhou, Guangdong, China
Occupation Entrepreneur
Years active 1964–present
Relatives Yeung Shing(Father)
Alex Yeung (Son)[1]
Gilbert Yeung (Son)
Cindy Yeung (Daughter)
Daisy Yeung(Daughter)

Albert Yeung (Chinese: 楊受成; born in 1943), is a Hong Kong business magnate. He is now the Chairman of Emperor Group.[2]

Early years[edit]

Albert Yeung was born in Hong Kong in 1943 and traces his root to Teochew (Chaozhou), Guangdong, China. His father, Mr Yeung Shing, opened a watch shop named "Shing On Kee Watch Shop" in 1942, setting the business foundation.[3] In the 1960s his father lent him 200,000 yuan to start his watch business.[4] 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.[3] He was soon successful and became known as the "King of clocks and watches" (鐘錶大王).[4]

Business career[edit]

Albert Yeung is the founder and chairman of the Emperor Group.[3] 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 United States and Europe. The Group now has more than 7,000 employees and over 500 subsidiaries and branch offices.[5]

Family background[edit]

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.[3]

Honors[edit]

Year Awards and Honor Titles[3]
2014 “Hong Kong's 50 Richest list” - Forbes
2013 Elected as “Top 10 Philanthropists 2013”.[6]
“Hong Kong's 50 Richest list” - Forbes
2012 “Hong Kong's 40 Richest list” - Forbes[7]
“The World's Billionaires (#1075)”- Forbes[8]
“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs[9]
Elected as “Top 10 Philanthropists 2012”.[10]
2011 “Hong Kong's 40 Richest list” - Forbes[11]
Elected as “Top 10 Philanthropists 2011”.[12]
“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs[13]
The Most Caring Individual Donor Award - "China Charity Award " - PRC's Ministry of Civil Affairs[13]
2009 “The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs[14]
2008 "The World Chinese Charity Award", United World Chinese Association[15]
“The Most Caring Individual Donor Award - "China Charity Award” - PRC's Ministry of Civil Affairs[16]
"Honorary Professor" - Guangdong University of Finance[17]
"Director", "Honorary President", Shanghai Institute of Visual Art, Fudan University - The Emperor School of Performing Arts[17]
2007 “China’s Outstanding Charity Contribution Award”,“China‘s Charitable Person” - the China Charity Federation[17]
“Special Charity Award”,“China‘s Charity Chart 2007” - China Association of Social Workers[17]
“Life Honorary President",Social Workers Across Borders[17]
“Degree of Honorary Doctor of Commerce (Honoris Causiby)” - the University of West Alabama in the USA[18]
"World Outstanding Chinese Award", "Life Honorary President", United World Chinese Association[19]
2006 “Life Honorary President” - Asian Basketball Association[17]
2005 “China Charity Award” - the Ministry of Civil Affairs of China and the China Charity Federation[17]
2000 “100 Most Powerful Figures in the USA” - Hollywood Reporter, the US movie magazine[17]
1998 “Honorary Trustee” - Peking University[17]
1994 “Honorary Professor of Law” - China University of Political Science and Law[17]
“Honorary Consultant of All China Lawyers Association” - the All China Lawyers Association[17]
1976 "Charter President", Lion Club of South Kowloon[17]

Community services and charity work[edit]

Yeung was the Charter President of “Lion Club of South Kowloon” in 1976. In 2008, Yeung set up "Albert Yeung Sau Shing Charity Foundation",[20] which is dedicated to supporting non-profit sports, educational and cultural activities.[3]

Yeung donated nearly 20 million dollars after the earthquake hit Sichuan in May 2008.[21] To recognize Beijing Olympic gold medalists' contributions to sports development in China, he also awarded 12.6 million dollars to the 63 athletes.[21]

The Jackie Chan and Albert Yeung Charity Foundation, founded by Chan and Yeung, 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.[22]

Charity Foundation[edit]

In addition to setting up “Emperor Foundation Scholarship” for seven tertiary institutions in Hong Kong, Yeung has made donations to 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.[3]

Hong Kong[edit]

Yeung's charity works in Hong Kong include “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.[3]

Mainland[edit]

In 2007, on the occasion of the 10th anniversary of Hong Kong’s return to China, Yeung contributed 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[23] 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.[24]

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.[3][25]

Court Cases[edit]

Perverting the Course of Public Justice Conviction (1979)[edit]

On 10 February 1979,Jockey Tony Cruz(告東尼), his brother and two other persons had an argument in a car park in the New Territories with Wai Kin-bong, who was knocked unconscious and hospitalised until 28 February. Wai was then Director and General Manager of Tin Tin Daily News. The paper's owner Lau Tin-chau asked Yeung, a common friend of both Cruz and Wai, to try to resolve the tension between the two. Yeung visited Wai in hospital and offered him a "very substantial sum" of money either "not to give evidence against Mr. Cruz or to give evidence that would not 'nail him down'".[26] Remarkably, in circumstances where the magistrate found that Yeung had promised Wai he would "fix the police", Cruz was never charged. Yeung was convicted of perverting the course of justice and ultimately sentenced to nine months' imprisonment.[26]

Illegal Bookmaking Conviction (1986)[edit]

In 1986, Yeung was convicted of operating an illegal bookmaking syndicate and fined $50,000.[27]

Insider Dealing (1993)[edit]

After a ten-day trial, on 8 June 1998, High Court judge Mr Justice Burrell, sitting as the Chairman of the Insider Dealing Tribunal together with two members, found Yeung culpable of insider dealing in shares of his listed Emperor (China Concept) Investments Ltd in October 1993. He was ordered to pay a total of HK$20,693,433 in fines and costs.[28]

Charged with Criminal Intimidation & False Imprisonment (1994, Acquitted 1995)[edit]

Yeung was acquitted after the case against him folded when five prosecution witnesses suffered amnesia, the first of whom told Magistrate Paul Kelly he did not want to give evidence against Yeung because he was "very frightened". The magistrate acquitted Yeung but said he "cannot, with the same assurance, declare justice has been done".[27]

Defamation Case against Google (2011)[edit]

On 8 August 2011 the South China Morning Post reported that Yeung had filed a writ for defamation against Google in the Hong Kong High Court on the grounds that it links to sites making libellous accusations against him.[29]

References[edit]

  1. ^ 深政協特邀51港委員 [楊受成]幼子最年輕 - 香港文匯報
  2. ^ Chairman Profile of Emperor Group[hk. http://emperorgroup.com/en/aboutus.php?id=2]"
  3. ^ a b c d e f g h i Chairman's Profile from Emperor Group
  4. ^ a b Southcn.com. "Southcn.com." 英皇集團主席[楊受成]. Retrieved on 2008-02-17.
  5. ^ [1] Emperor Group, Group Profile
  6. ^ Albert Yeung elected "Top 10 Philanthropists" for four consecutive years
  7. ^ [2] Hong Kong's 40 Richest list
  8. ^ [3]
  9. ^ Dr. Albert Yeung Sau Shing, was awarded the "China Charity Award - The Most Caring Individual Donor Award " for the fifth time
  10. ^ Albert Yeung elected "Top 10 Philanthropists" for four consecutive years
  11. ^ [4] Hong Kong's 40 Richest list
  12. ^ Albert Yeung elected "Top 10 Philanthropists" for three consecutive years
  13. ^ a b Albert Yeung Sau Shing, was awarded the "China Charity Award - The Most Caring Individual Donor Award " for the fourth time
  14. ^ 2009 annual China Charity Award winners (Chinese), Chinese Ministry of Civil Affairs, 26 March 2010
  15. ^ Awards & Honors of Albert Yeung
  16. ^ Emperor Group Chairman Dr. Albert Yeung Receives 2008 China Charity Award 2009 annual China Charity Award winners (Chinese), Chinese Ministry of Civil Affairs, 26 March 2010
  17. ^ a b c d e f g h i j k l [5], Chairman's Profile of Emperor Group
  18. ^ Mr. Albert Yeung was conferred Degree of Doctor of Commerce (Honoris Causi) by the University of West Alabama and won World Outstanding Chinese Award
  19. ^ Mr. Albert Yeung was conferred Degree of Doctor of Commerce (Honoris Causi) by the University of West Alabama and won World Outstanding Chinese Award [6]
  20. ^ Albert Yeung Sau Shing Charity Foundation's official website
  21. ^ a b Emperor Group Chairman Dr. Albert Yeung Receives 2008 China Charity Award
  22. ^ Jackie Chan and Albert Yeung Charity Foundation donates 10M RMB in aid to quake-hit Sichuan Province
  23. ^ Dr. Albert Yeung Sau Shing donates RMB 1.2 million to build elderly care centre
  24. ^ Dr. Albert Yeung Sau Shing donates HKD 1 million to support the disaster relief efforts in Gansu
  25. ^ Albert Yeung Sau Shing Charity Foundation
  26. ^ a b [7], HK Judiciary Judgment.
  27. ^ a b [8], Report in The Standard newspaper.
  28. ^ [9], Report of the Insider Dealing Tribunal of Hong Kong.
  29. ^ Reuters, Reuters report citing the SCMP.

External links[edit]