Independent Non-Executive Director of Esprit since November 2002; became Deputy Chairman of the Company effective in 2008. Chairman of The Link Management, which manages a portfolio of assets valued at over HK$30 billion. (The privatisation in November 2005 was the world’s largest Real Estate Investment Trust (REIT) IPO).
Active in private equity across Asia, including roles as Chairman of the China High Growth Fund and Vietnam Infrastructure Limited. In Hong Kong, Cheng is Honorary Steward of the Hong Kong Jockey Club, Club, a US$10 billion organization which recycles its profit to charity and community projects.
Past Hong Kong roles also include being Chairman of both the American Chamber of Commerce and the Hong Kong General Chamber of Commerce. Former Chairman of Inchcape Pacific Limited, a major trading conglomerate employing over 6,000 people throughout Asia, and N.M. Rothschild & Sons (Hong Kong) Ltd.
Asian shares rose as the Nikkei 225 Stock Average closed above 15,000 for the first time since 2007 after the yen touched a 4 1/2-year low against the dollar, boosting the earnings outlook for Japanese exporters.
Esprit Holdings Ltd., the Hong Kong- based apparel seller that last year lost two top executives, said it won’t save HK$1 billion ($129 million) per year by June 2015 as planned as its performance isn’t meeting expectations.
Hong Kong stocks rose, with the city’s benchmark index heading toward the highest close since February, as HSBC Holdings Plc led banks higher after beating earnings estimates and Chinese exports accelerated.
Shares of Asian banks and information technology companies advanced this week as Macquarie Group Ltd. and Samsung Electronics Co. posted higher profits. Japanese exporters fell as the yen touched a two-week high.