Fung King Hey (1922–1985), was a Hong Kong businessman. He was born in
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kon ...
, mainland China. He is the co-founder of Hong Kong-based
Sun Hung Kai & Co. and was reputed as "King of securities world" and "Godfather of the stock market". His business in Hong Kong included property development, stock-broking and banking. Fung also briefly migrated to Canada from 1967 to 1968.
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Early life
In the late 1930s, he moved to the British Hong Kong to work in a dockyard, as well as worked as a money changer in Canton (Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kon ...
city or Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) ...
province).
Career
In 1958, he founded Eternal Enterprise Company in partnership with Kwok Tak-seng and Lee Shau-kee
Lee Shau-kee GBM (; born 7 March 1928 in Shunde, Guangdong, China) is a Hong Kong business magnate, investor, and philanthropist. He is a real estate tycoon and majority owner of Henderson Land Development, a property conglomerate with inter ...
to develop property business in Hong Kong. In 1963, the three businessmen further established Sun Hung Kai Group of Companies, which later developed into Sun Hung Kai Properties
Sun Hung Kai Properties Limited (SHKP; ) is a listed corporation and the largest property developer in Hong Kong as of 2019. The company is controlled by the Kwok family trust, largely the Kwok brothers. The Kwok family trust was set up by Kw ...
. In 1965, Chinese banks in Hong Kong witnessed storm of bank run, and a great number of people emigrated following the Culture Revolution in mainland. But Feng King Hey reserved great confidence in Hong Kong. In cooperation with Kwok Tak Seng and Lee Shau Kee, he bought large area of lands and built 20 high-rises within three years. When the economy recovered, Sung Hung Kai made a huge fortune and the three partners were reputed as the ''Three Musketeers''.[
In 1967 Fung immigrated to Canada,][ but he][ and his wife soon returned to Hong Kong to resume business, leaving the children to finish their middle school and college in Canada. The family has owned Canadian nationality till today.
In 1969, Fung founded Sun Hung Kai Securities][ and Sun Hung Kai Financial. In 1978, Sun Hung Kai (China) Co., Ltd was founded and was renamed Sun Hung Kai Bank after obtaining the Hong Kong banking license issued by Hong Kong government in 1982. Fung worked as the chairman of the bank. He died in August 1985 at the age of 63. Sung Hung Kai Bank was merged in 1986 into today's Fubon Bank (Hong Kong).
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Family
Thomas Fung Wing-fat, the eldest son of Fung, is the founder, chairman and CEO of Fairchild Group
The Fairchild Group ( zh, t=新時代集團, s=新时代集团, p=Xīnshídài Jítuán, j=San1si4doi6 Zaap6tyun4, first=t) is a Canadian business conglomerate, with headquarters in Vancouver, British Columbia, Canada. Fairchild Group operates ...
of Canada. His businesses include Fairchild Media Group, etc..
Tony Fung Wing-cheung, the second son of Fung, is the co-founder of Yu Ming Investment Management.[
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References
External links
MERRILL LYNCH'S ASIAN THRILLER
{{DEFAULTSORT:Fung, King Hey
1922 births
1985 deaths
Hong Kong bankers
Hong Kong emigrants to Canada
Hong Kong hoteliers
Hong Kong investors
Hong Kong real estate businesspeople
Chinese emigrants to British Hong Kong