Macau Casino Pioneer Fu Tak-iam Family Buys Hong Kong 107-Units Service Apartment Property CHI 138 in Wan Chai for $71 Million (HKD 550 Million) via Pleasure Properties (Family Directors in Company Include 3rd Generation Adrian Fu), Fu Tak-iam Secured Exclusive (Casino) Gaming Monopoly License in Macau from 1937 to 1961 in Partnership with Macau Businessman Kou Ho Meng to Form Tai Heng Company, Fu Tak-iam Sent Eldest Son Fu Yum Chiu in 1946 to Setup Hong Kong Office for Shipping Business and Later to Acquire Properties & Listed-Company Shares, 3rd Generation Adrian Fu (Son of Fu Yum Chiu) Setup Family Charitable Foundation (Fu Tak Iam Foundation) in 2007
12th December | Hong Kong
Macau casino pioneer Fu Tak-iam family has bought a Hong Kong 107-units service apartment property CHI 138 in Wan Chai for $71 million (HKD 550 million) via Pleasure Properties (Family Directors in company include 3rd generation Adrian Fu). From 1937 to 1961, Fu Tak-iam had secured exclusive (Casino) gaming monopoly license in Macau in partnership with Macau businessmen Kou Ho Meng to form Tai Heng Company. In 1946, Fu Tak-iam sent his eldest son Fu Yum Chiu to setup a Hong Kong office for shipping business and later to acquire properties & listed-company shares. In 2007, 3rd generation Adrian Fu (Son of Fu Yum Chiu) setup family charitable foundation Fu Tak Iam Foundation. Fu Yum Chiu – (By Adrian Fu) My father Fu Yum Chiu (Y.C. Fu) passed away in December 2005. Apart from substantial personal assets, he left behind bundles of old letters and memorabilia which he had collected over several decades. Through going over this assortment of letters and old pictures I was able to slowly piece together his early adult life. In 1946 he was sent to Hong Kong (from Macau) by my grandfather Fu Tak Iam to set up a HK office. Initially the main enterprise was shipping, though later he was commissioned to acquire properties and listed shares. My grandfather would write to him on a weekly basis with very precise instructions on how best to structure these transactions. This went on for the next 10 years and a portfolio of assets was accumulated. As the eldest son, my father was at the same time charged with the responsibility of looking after his siblings who were sent abroad to further their education. His father was his mentor and superior until his passing in 1960, whereupon my father assumed the role of guardian of the family assets. This was to continue until such time that his younger brothers and son were ready to join him in the family business, a course my grandfather had so meticulously charted. The purpose of this Foundation is to continue the good work of the patriarch of the family who had created the Legacy, and the preserver who religiously nurtured the plans to fruition. It is also my belief that the Foundation shall be the most meaningful interpretation of my father’s love and respect for my grandfather and an effective tool to communicate our family history to future generations. Fu Tak Iam Foundation – Fu Tak Iam Foundation was established in Hong Kong in 2007. Inspired by his father’s passing, Mr. Adrian H. C. Fu founded this charitable family foundation hoping to pass on his grandfather’s legacy of giving to future generations. The Foundation operates by way of endowment fund in perpetuity and professional governance of the Board. It consists of seven members with diversified competencies, and is supported by a grant allocation committee, an investment committee and an audit committee. To achieve its mission, the Foundation gives out donations to non-profits every year to support impactful projects in HK, China and Macau, which have not only brought long term benefits and hope to deprived people with different needs, but also helped improve the quality of living of the society as a whole. The Foundation values good practices in terms of impact evaluation, sound management and innovation.
“ Macau Casino Pioneer Fu Tak-iam Family Buys Hong Kong 107-Units Service Apartment Property CHI 138 in Wan Chai for $71 Million (HKD 550 Million) via Pleasure Properties (Family Directors in Company Include 3rd Generation Adrian Fu), Fu Tak-iam Secured Exclusive (Casino) Gaming Monopoly License in Macau from 1937 to 1961 in Partnership with Macau Businessman Kou Ho Meng to Form Tai Heng Company, Fu Tak-iam Sent Eldest Son Fu Yum Chiu in 1946 to Setup Hong Kong Office for Shipping Business and Later to Acquire Properties & Listed-Company Shares, 3rd Generation Adrian Fu (Son of Fu Yum Chiu) Setup Family Charitable Foundation (Fu Tak Iam Foundation) in 2007 “
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Macau Casino Pioneer Fu Tak-iam Family Buys Hong Kong 107-Units Service Apartment Property CHI 138 in Wan Chai for $71 Million (HKD 550 Million) via Pleasure Properties (Family Directors in Company Include 3rd Generation Adrian Fu), Fu Tak-iam Secured Exclusive (Casino) Gaming Monopoly License in Macau from 1937 to 1961 in Partnership with Macau Businessman Kou Ho Meng to Form Tai Heng Company, Fu Tak-iam Sent Eldest Son Fu Yum Chiu in 1946 to Setup Hong Kong Office for Shipping Business and Later to Acquire Properties & Listed-Company Shares, 3rd Generation Adrian Fu (Son of Fu Yum Chiu) Setup Family Charitable Foundation (Fu Tak Iam Foundation) in 2007
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