Joy City Property Limited (Chinese: 大悅城地產有限公司), is a listed company of Hong Kong, but incorporated in Bermuda. The company was formerly known as The Hong Kong Parkview Group Ltd..
The legal person of the listed company had a few different names, partially due to two reverse IPO.
The Hong Kong Parkview Group
Wong family and its company Chyau Fwu[citation needed] was the developer of Hong Kong Parkview, one of the largest residential project in the southern Hong Kong Island, the Chinese name of the real estate has a similar name with Yangmingshan, which the family business originated from that country. Wong family injected the family asset on Hong Kong Parkview, to the group by issuing new shares, made Wong family owned more than 80% interest in the group. The listed company was engaged in the charter hire of vessels until Wong family (through Chyau Fwu Development Ltd.) acquired the majority shares in 1990, from Sze Ka-Shuen (Mr. Sze) to complete a backdoor listing.[2]
The group also had numbers of properties in Hong Kong, namely 13 blocks out of 16 of Manchester Lodge, 11/F of World-Wide House (re-acquired in 2010), the freehold of Battersea Power Station, and nearly 80,000 sq.ft. of residential flat of Hong Kong Parkview, a unit in the G/F of Admiralty Centre, which were sold back to Wong family in 2001 for HK$833,392,140[3] Special dividend was received by shareholders, which in turn Wong family received most, made the equity of the group fell from HK$1,277,549,366 to HK$217,339,024.
The Group had a hotel project in Dingshan, Nanjing, Eastern China (Newmeadow Limited, owned 45% interests of Nanjing Dingshan Garden Hotel Co., Ltd.). In 2010, along with some properties in Shanghai (as "Gallaria Furnishing Int. Ltd.) and other assets, they were sold to parent company Kompass for HK$140,610,334. In exchange, 11/F of World-Wide House was bought again by the listed company from George Wong and his family for HK$289,516,400.[4]
Joy City Property
Ownership
This article needs to be updated. Please help update this article to reflect recent events or newly available information.(March 2017)
The holding company/majority shareholder of the group is "Kompass International Limited", which all four executive directors of the group, George Wong, Victor Hwang, Richard Hwang and Tony Hwang were the shareholders. (Wong/Hwang both were the romanization of Chinese surname (Chinese: 黃)) Moreover, the second largest shareholder, High Return Trading Limited, is owned by George Wong. Lastly, Huang Jian-quan (Huang is another romanization of the Chinese surname (Chinese: 黃, literally "Yellow")), owned 7.47% shares as of 31 March 2011, who has no known relation with the Wong family. "Multi-Power International Limited" also owned 7.47% shares, made less than 15% shares were held by the public.
Sister companies
Battersea Power Station
Hwang family also had asset around the world, such as Battersea Power Station but sold in 2006.[5] Despite in 1996–97 annual report the listed company announced that it acquired the rights to develop a 5-star hotel,[6] some reports also stated that the land lease was owned by Hwang family via "Parkview International (London)"[5] but not under the listed company, which Hwang family only leased back the development rights to the company. In 2000–01 annual report, the listed company also announced that it formed a conditional sales and purchase agreement with Limbhill Properties Limited and Parkview Int. London PLC (both held by Hwang family), to buy the land from Hwang family for £6 million (approx. HK$66,768,000).[7][8] Eventually the special general meeting approved the transaction. In 2001, Hwang brothers, through Outshine Holdings Limited, bought numbers of properties from the group for HK$833,392,140, including the power station valued £7 million (approx. HK$77,300,000),[nb 3][3][9]
Subsidiaries
As of 31 March 2011
Hong Kong Parkview (China) Limited
Hong Kong Parkview International Management Limited
^Financial Result based on consolidated account of the 2010–11 annual report; Income is Total comprehensive income (expense) for the year attributable to the owners of the Company
^Listed as "Freehold land on the eastern side of Kirtling Street at the corner of Cringle Street London SW8"
^Chyau Fwu is the romanization of the Chinese name of the group (Chinese: 僑福), which the company holds 11/F of World-Wide House as asset
References
^. Joy City Property. Archived from the original on 2019-06-12. Retrieved 2019-04-05. 33/F., COFCO Tower 262 Gloucester Road Causeway Bay Hong Kong - Traditional Chinese address: "香港銅鑼灣 告士打道262號 中糧大廈33樓" - Simplified Chinese address: "香港铜锣湾 告士打道262号 中粮大厦33楼"
^ ab"Announcement & Resumption of Trading" (Microsoft Word). Hong Kong Parkview Group. Hosted by HK Stock Exchange E-News website. 21 August 2001. Retrieved 20 November 2011.
^(PDF). Hong Kong Parkview Group. 20 September 2010. Archived from the original (PDF) on 25 April 2012. Retrieved 20 November 2011.
^ ab"About Parkview International". Battersea Power Station. Retrieved 20 November 2011.
^(PDF). Archived from the original (PDF) on 2012-04-25. Retrieved 2011-11-20.{{cite web}}: CS1 maint: archived copy as title (link)
^"Announcenment: Connection Transaction" (Microsoft Word). Hong Kong Parkview Group. Hosted by HK Stock Exchange E-News website. 20 November 2000. Retrieved 20 November 2011.
city, property, limited, chinese, 大悅城地產有限公司, listed, company, hong, kong, incorporated, bermuda, company, formerly, known, hong, kong, parkview, group, formerlyming, investment, enterprises, 1973, 1992, ming, holding, 1992, hong, kong, parkview, group, 1993, 2. Joy City Property Limited Chinese 大悅城地產有限公司 is a listed company of Hong Kong but incorporated in Bermuda The company was formerly known as The Hong Kong Parkview Group Ltd Joy City PropertyFormerlyMing Ren Investment amp Enterprises 1973 1992 Ming Ren Holding 1992 93 The Hong Kong Parkview Group 1993 2013 COFCO Land Holdings 2013 2015 TypePublic companyTraded asSEHK 207GenreProperty DevelopmentFounded28 October 1992 1992 10 28 citation needed FounderHwang Chou ShiuanHeadquartersHong Kong de facto Bermuda incorporated Key peopleZhou Zheng Chairman Operating incomeHK 41 774 880 2010 11 Net incomeHK 31 566 290 2010 11 nb 1 Total assetsHK 366 102 675 2010 11 Total equityHK 164 345 359 2010 11 ParentCOFCOWebsitejoy cityproperty comFootnotes references nb 2 Joy City PropertyTraditional Chinese大悅城地產有限公司Simplified Chinese大悦城地产有限公司TranscriptionsStandard MandarinHanyu PinyinDayue Cheng Dichǎn YǒuxiangōngsiYue CantoneseJyutpingdaai6 jyut6 sing4 dei6 caan2 jau5 haan6 gung1 si1Its head office is on the 33rd floor of the COFCO Tower 中糧大廈 in Causeway Bay 1 Contents 1 History 1 1 The Hong Kong Parkview Group 1 2 Joy City Property 2 Ownership 3 Sister companies 3 1 Battersea Power Station 4 Subsidiaries 5 Footnotes 6 References 7 External linksHistory EditThe legal person of the listed company had a few different names partially due to two reverse IPO The Hong Kong Parkview Group Edit Wong family and its company Chyau Fwu citation needed was the developer of Hong Kong Parkview one of the largest residential project in the southern Hong Kong Island the Chinese name of the real estate has a similar name with Yangmingshan which the family business originated from that country Wong family injected the family asset on Hong Kong Parkview to the group by issuing new shares made Wong family owned more than 80 interest in the group The listed company was engaged in the charter hire of vessels until Wong family through Chyau Fwu Development Ltd acquired the majority shares in 1990 from Sze Ka Shuen Mr Sze to complete a backdoor listing 2 The group also had numbers of properties in Hong Kong namely 13 blocks out of 16 of Manchester Lodge 11 F of World Wide House re acquired in 2010 the freehold of Battersea Power Station and nearly 80 000 sq ft of residential flat of Hong Kong Parkview a unit in the G F of Admiralty Centre which were sold back to Wong family in 2001 for HK 833 392 140 3 Special dividend was received by shareholders which in turn Wong family received most made the equity of the group fell from HK 1 277 549 366 to HK 217 339 024 The Group had a hotel project in Dingshan Nanjing Eastern China Newmeadow Limited owned 45 interests of Nanjing Dingshan Garden Hotel Co Ltd In 2010 along with some properties in Shanghai as Gallaria Furnishing Int Ltd and other assets they were sold to parent company Kompass for HK 140 610 334 In exchange 11 F of World Wide House was bought again by the listed company from George Wong and his family for HK 289 516 400 4 Joy City Property EditOwnership EditThis article needs to be updated Please help update this article to reflect recent events or newly available information March 2017 The holding company majority shareholder of the group is Kompass International Limited which all four executive directors of the group George Wong Victor Hwang Richard Hwang and Tony Hwang were the shareholders Wong Hwang both were the romanization of Chinese surname Chinese 黃 Moreover the second largest shareholder High Return Trading Limited is owned by George Wong Lastly Huang Jian quan Huang is another romanization of the Chinese surname Chinese 黃 literally Yellow owned 7 47 shares as of 31 March 2011 who has no known relation with the Wong family Multi Power International Limited also owned 7 47 shares made less than 15 shares were held by the public Sister companies EditBattersea Power Station Edit Hwang family also had asset around the world such as Battersea Power Station but sold in 2006 5 Despite in 1996 97 annual report the listed company announced that it acquired the rights to develop a 5 star hotel 6 some reports also stated that the land lease was owned by Hwang family via Parkview International London 5 but not under the listed company which Hwang family only leased back the development rights to the company In 2000 01 annual report the listed company also announced that it formed a conditional sales and purchase agreement with Limbhill Properties Limited and Parkview Int London PLC both held by Hwang family to buy the land from Hwang family for 6 million approx HK 66 768 000 7 8 Eventually the special general meeting approved the transaction In 2001 Hwang brothers through Outshine Holdings Limited bought numbers of properties from the group for HK 833 392 140 including the power station valued 7 million approx HK 77 300 000 nb 3 3 9 Subsidiaries EditAs of 31 March 2011 Hong Kong Parkview China Limited Hong Kong Parkview International Management Limited Parkview Management Services Limited Parkview Property Development Limited Chyau Fwu Investment Limited nb 4 Footnotes Edit Partially due to extraordinary profit Financial Result based on consolidated account of the 2010 11 annual report Income is Total comprehensive income expense for the year attributable to the owners of the Company Listed as Freehold land on the eastern side of Kirtling Street at the corner of Cringle Street London SW8 Chyau Fwu is the romanization of the Chinese name of the group Chinese 僑福 which the company holds 11 F of World Wide House as assetReferences Edit Contact Joy City Property Archived from the original on 2019 06 12 Retrieved 2019 04 05 33 F COFCO Tower 262 Gloucester Road Causeway Bay Hong Kong Traditional Chinese address 香港銅鑼灣 告士打道262號 中糧大廈33樓 Simplified Chinese address 香港铜锣湾 告士打道262号 中粮大厦33楼 http legalref judiciary gov hk doc judg word vetted other en 2005 HCMP002201 2005 doc bare URL DOX DOCX file a b Announcement amp Resumption of Trading Microsoft Word Hong Kong Parkview Group Hosted by HK Stock Exchange E News website 21 August 2001 Retrieved 20 November 2011 Very Substantial Acquisition Very Substantial Disposal Connected Transactions and Resumption of Trading PDF Hong Kong Parkview Group 20 September 2010 Archived from the original PDF on 25 April 2012 Retrieved 20 November 2011 a b About Parkview International Battersea Power Station Retrieved 20 November 2011 Archived copy PDF Archived from the original PDF on 2012 04 25 Retrieved 2011 11 20 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link 2000 01 annual report Archived 2012 04 25 at the Wayback Machine Announcenment Connection Transaction Microsoft Word Hong Kong Parkview Group Hosted by HK Stock Exchange E News website 20 November 2000 Retrieved 20 November 2011 2001 02 annual report Archived 2012 04 25 at the Wayback MachineExternal links EditOfficial website in English and Chinese Retrieved from https en wikipedia org w index php title Joy City Property amp oldid 1148686521, wikipedia, wiki, book, books, library,
