Far East Consortium

Far East Consortium International Limited
遠東發展有限公司

File:Far East Consortrium logo.svg
Company type	public
Traded as	SEHK: 35
Industry	Property Development, Hotel and Car Park
Founded	Deacon Chiu
Headquarters	16/F, Far East Consortium Building, 121 Des Voeux Road, Central, Hong Kong
Key people	David Chiu (Chairman, Board of Directors)
Website	fecil.com.hk

Far East Consortium International Limited （“FEC”）(SEHK: 35) was listed on the Hong Kong Stock Exchange in 1972. It is founded by Deacon Chiu. Since then, the Group has built a strong foundation in the region enhanced by the local knowledge of its on-ground teams. This approach has enabled the Group to expand rapidly in the past decade, transforming into a regional conglomerate engaged in property and hospitality in addition to car park management and facilities management.

FEC is mainly engaged in property development and investment, hotel operation and management, car park operation as well as property management services. The Group adopts geographical diversification and “Chinese wallet” strategy, with business covering Hong Kong, Mainland China, Australia, Malaysia, Singapore, the United Kingdom and New Zealand.

As stated on results announcement for the financial year ended 31 March 2015, FEC has a huge residential and mixed-use project portfolio across different markets in Hong Kong, China, Australia, Malaysia and the United Kingdom. At the end of 2014, FEC signed a consortium bid agreement with Chow Tai Fook Enterprises Limited and Echo Entertainment Group Limited to bid for the development of an entertainment precinct and integrated resort in Brisbane with approximately 9.4 hectares of site area. In July 2015, Destination Brisbane Consortium was selected by the Queensland State as the preferred proponent to undertake the Project. The Project entails the development of an entertainment precinct and integrated resort as well as residential development at Queen’s Wharf Brisbane, Queensland, Australia.

Property development

FEC has a significant pipeline of residential projects, which are located in Hong Kong, Mainland China, Australia, Malaysia and the United Kingdom. With the total sellable floor areas amounting to approximately 11 million sq. ft., the projects are under different stages of development. The estimated total development value is HK$35 billion, expected to have large contribution from completion properties in the future. FECIL is also one of the largest property developers in Melbourne, with more than 10 years’ experience in the region.

Hotel business

The company currently operates 20 hotels, located in Hong Kong, mainland China, the United Kingdom, Singapore and Malaysia, a total of 6,043 rooms. There are a total of 1,350 rooms for five new hotels under development and will increase to 7,393 rooms in 2018.

Car park operations and facilities management

FEC is top three car parking chain brands in Australia. The market share is approximately 20%. The Group’s car park portfolio comprised 335 car parks with a total of more than 65,000 parking bays.

This division expanded its operation to include facilities management in Australia (mainly in Brisbane, Melbourne and Adelaide) and Johor Bahru, Malaysia. It is expected that the car park operations and facilities management business will grow steadily.

Milestone:

1972

Far East Consortium International Limited (HKSE: 35) listed at Hong Kong Stock Exchange, specialized in property development.

1998

The first hotel in Malaysia, Dorsett Regency Kuala Lumpur commenced operations.

The launch of Shanghai California Garden – Phase 1

2003

Acquired the flagship hotels of Cosmopolitan, Wan Chai, Hong Kong

2007

Acquired the first hotel at Wuhan, China Dorsett Hospitality International Limited (Dorsett, HKEx: 2266), （formerly known as Kosmopolito Hotels International Limited ）established at Cayman Islands

2008

Announced its regionalization strategy and begun its journey to transform the Group into a regional conglomerate with property development and hospitality interests

Acquired the Upper West Side development site in Melbourne, Australia

2009

Acquired 74% stake in Care Park, a leading car park operator in Australia and New Zealand

Purchased its first hotel site in Singapore, which opened in 2013.

2010

Kosmopolito Hotels Intenational Limited (HKEx: 2266, KHI) listed at Hong Kong Stock Exchange and raised HK$1.19 billion

2011

KHI entered London market through acquiring its first hotel site at Shepherd's Bush, which opened in 2014

2012

Carried out a renewal of its capital structure and repurchased and deregistered 11.7% of its shares, which enhanced the net asset value per share and improved the dividend per share.

Kosmopolito Hotels Intenational Limited renamed as Dorsett Hospitality International Limited

2013

Issued its debut CNY 1 billion 3-year bonds.

Dorsett issued its debut CNY 850 million 5-year bonds.

Dorsett signed four new hotel management contracts covering 1,100 rooms in Malaysia.

Acquired a residential site at 250 Spencer Street, Melbourne, which substantially enlarged its land bank in Australia.

2014

FEC's property development division expanded to London and acquired its first residential development site at Canary Wharf

Entered the Perth market and secured a development opportunity at Elizabeth Quay

Entered the facilities management business with the acquisition of a Melbourne-based company

Won a number of government tenders in Hong Kong, including the residential site in Tai Wai

Acquired the first URA Hai Tan Street in Sham Shui Po Development Project.

Signed a consortium bid agreement with Chow Tai Fook Enterprises Limited and Echo Entertainment Group Limited to bid for the development of an entertainment precinct and integrated resort in Brisbane with approximately 9.4 hectares of site area.

2015

Develops luxury hotel and mixed-use property project at 250 Spencer Street, Melbourne in Australia. With 250 rooms, the iconic Ritz-Carlton hotel will be the highest hotel in Australia.

Destination Brisbane Consortium, a joint venture between FEC Australia, a wholly owned subsidiary of the Company, Echo and Chow Tai Fook Enterprises Limited was selected by the Queensland State as the preferred proponent to undertake the Project. The Project entails the development of an entertainment precinct and integrated resort as well as residential development at Queen’s Wharf Brisbane, Queensland, Australia.

 Hotels

Hong Kong

Dorsett Hotels & Resorts	Silka Hotels	d.Collection
Cosmopolitan Hotel Hong Kong	Silka Far East, Hong Kong	Cosmo Hotel Hong Kong
Dorsett Mongkok, Hong Kong	Silka Seaview, Hong Kong	Lan Kwai Fong Hotel @ Kau U Fong
Dorsett Kwun Tong, Hong Kong	Silka West Kowloon, Hong Kong
Dorsett Tsuen Wan, Hong Kong

Malaysia

Dorsett Hotels & Resorts	Silka Hotels
Dorsett Grand Labuan	Silka Cheras
Dorsett Grand Subang	Silka Johor Bahru
Dorsett Kuala Lumpur	Silka Maytower Kuala Lumpur
Dorsett Putrajaya

China

• Dorsett Grand Chengdu
• Dorsett Shanghai
• Dorsett Wuhan
• Lushan Resort

Singapore

• Dorsett Singapore

London

• Dorsett Shepherds Bush

 Official Sites

• Corporate Website: Dorsett Hospitality International
• Brand Websites:
  • Dorsett Hotels & Resorts
  • d.Collection
  • Silka Hotels