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.
Esprit Holdings Ltd. said it’s uncertain about the company’s second-half performance after rebounding from a year-earlier loss to post a profit in the fiscal first half. Shares dropped the most in five months.
The Federal Reserve will release minutes from its Jan. 28-29 meeting, the last presided over by former Chairman Ben S. Bernanke and at which policy makers further reduced the central bank’s record stimulus.
Almost every piglet born on Craig Rowles’ hog farms near Carroll, Iowa, died from the virus that swept through his herds in November, causing $462,000 of lost revenue in the first month of the outbreak. By the end of February, he expects to lose 15,000 animals, or 10 percent of annual sales.
Uniqlo owner Fast Retailing Co., the Japanese clothing company on an overseas expansion drive, plans to list depositary receipts in Hong Kong to help promote its brand to investors and customers in the region.
Inditex SA has become the global leader of fast fashion by getting clothing inspired by the runway to its racks in a matter of weeks. Esprit Holdings Ltd., apparently deciding the best way out of a slump was to emulate that strategy, yesterday snagged a key Inditex executive.