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Ho Sin Hang

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  • Comment: This person may well be notable, but reliable independent sources are needed to fully establish this. There aren't enough citations. st170etalk 16:04, 12 October 2014 (UTC)


Ho Sin Hang
何善衡
Born1900
Panyu, Guangdong, China
Died4 December 1997 (aged 97)
Hong Kong
Other namesDr. S. H. Ho
Ho Heng
Occupation(s)Entrepreneur,Philanthropist, Investor
Board member ofHang Seng Bank,
Dah Chong Hong,
Hang Chong Investment Co.,
New World Development,
Wing Lung Bank,
Furama Hotel Enterprises,
Miramar Hotel and Investment

Ho Sin Hang (1900 – 4 December 1997), also known as "Dr. S. H. Ho" and "Ho Heng", was a Hong Kong entrepreneur, philanthropist and financier.[1][2] He founded Hang Seng Bank in Hong Kong in 1933,[3][4] serving as Chairman of the Bank[5] from 1960 until his passing in 1997. Dr. Ho also cofounded the Hang Chong Investment Co Ltd. and Dah Chong Hong Ltd.

He was also the first chairman of New World Development in Hong Kong.[6][7]

Ho Sin Hang was also well known for his philanthropy.[8] In 1970 he founded the S. H. Ho Foundation to support charitable causes in China and overseas. Numerous buildings in Hong Kong bear his name to this day.

Early life

Ho Sin Hang was born in the Panyu district of Guangzhou in Southern China in 1900.[9] Due to his family's difficult financial circumstances he was forced to drop out of school before completing his high school education. Consequently Dr. Ho was largely self-educated through the study of Chinese Classical Literature. After dropping out of school Ho Sin Hang worked in a salt warehouse for two years before eventually taking up a position as an apprentice in a goldsmith shop.

Career

Ho completed his apprenticeship and earned the position of assistant manager at age twenty two. Two years later he resigned from his position to set up a trading business in Hong Kong. In 1933, Ho founded Hang Seng Ngan Ho with three other business partners, Lam Bing Yim, Sheng Tsun Lin and Leung Chik Wai. [10] Hang Seng Ngan Ho began as a small currency changing booth in Hong Kong's Wing Lok Street in the Sheung Wan district. [10] Ho later founded Dah Chong Hong Ltd and the Hang Chong Investment Co Ltd.[11] In 1952, Hang Seng Ngan Ho was incorporated and in 1959, was renamed Hang Seng Bank Ltd. From 1960 until 1983, he served as Chairman of the Bank, guiding the bank through its IPO in 1960 and its sale to HSBC in 1965 when the bank suffered a run on its deposits.[10]In 1983, on the 50th anniversary of the Bank, Ho became its Honorary Chairman until he passed away.

Ho co-founded New World Development company in 1970 with Chow Chi Yuen. He served as the company's first Chairman while Chow acted as Director and General Manager. Ho Sin Hang also served as a director of Wing Lung Bank as well as the Bangkok Mercantile Company. [12] His other directorships included the Miramar and Furama hotels and he had business interests in the shipping and insurance industries. [12]Dr. Ho also served as the Chairman of the Gold & Silver Exchange Society of Hong Kong.

Creation of the Hang Seng Index

Ho conceived of the idea of creating the Hang Seng Index as a "Dow Jones Index for Hong Kong".[10][13] Along with Hang Seng Director Lee Quo-wei, he commissioned Hang Seng's head of Research Stanley Kwan to create the index, which is now globally recognized as the leading benchmark for the Hong Kong stock market. [10]

Philanthropy

Ho was the founder and director of several middle and primary schools, donating many scholarships. In 1970, he founded the S. H. Ho Foundation to support charitable causes in China and overseas, including regional construction, education, medical services, scientific research[14] and the training of new talent. [15] In 1978, he founded the Hang Seng School of Commerce.

Death

Ho died in Hong Kong on 4 December 1997 at the age of 97.

Honours

Ho was named as an Officer of the Order of the British Empire in 1978.[12] He was also honored by the Thai and Japanese governments for his services to trade and commerce. [12]In 1971 he was given the degree of Doctor of Social Sciences by the Chinese University of Hong Kong. In 1983 he was conferred the Doctor of Laws by the University of Hong Kong. In 1990, he became an Honorary Adviser to the Zhongshan University in Guangzhou and was conferred the Honorary Doctorates degree by that University in 1995.

References

  1. ^ "Deviser of Hang Seng Index dead at age 86". Investment News, Jan 6, 2012
  2. ^ Asian Finance. Asian Finance Publications. 1977. p. 24.
  3. ^ "Yes, boss". The Standard, Bonnie Chen. May 07, 2012
  4. ^ "No neigh-sayers in CLSA's outlook for HK". 2014-01-23 in Hong Kong (China Daily USA
  5. ^ "The Toronto man behind Hong Kong’s Hang Seng Index". Toronto Star. Tony Wong December 29 2010
  6. ^ Jay P. Pederson (2001). International Directory of Company Histories. St. James Press. ISBN 978-1-55862-443-6.
  7. ^ Jennifer L. Carr (6 December 2012). Major Companies of The Far East and Australasia 1991/92: Volume 2: East Asia. Springer Science & Business Media. pp. 65–. ISBN 978-94-011-3010-3.
  8. ^ Daily Report: People's Republic of China. National Technical Information Service. 1994. p. 55.
  9. ^ "Scenery in a Pot". Joyous Living, 2013-01-31
  10. ^ a b c d e Kwan, Stanley S. K. (2009). The Dragon and the Crown. Hong Kong University Press. pp. 101–131. ISBN 9789622099555. Retrieved 20 August 2014.
  11. ^ Far Eastern Economic Review. July 1991. p. 53.
  12. ^ a b c d "Hong Kong University Honorary Graduates". Hong Kong University. Retrieved 20 August 2014.
  13. ^ "Stanley Kwan, Hang Seng Index Creator, Dies at 86". BLOOMBERG NEWS JAN. 10, 2012
  14. ^ "Yantai Wanhua Chairman Ding Jiansheng Awarded the 2009 HLHL Prize for Scientific and Technological Innovation". Every China, 2011-05-20
  15. ^ "HK charity foundation awards Chinese scientists". China Daily, (Xinhua) 2004-11-11

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Ho Sin Hang

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