About Us

Scroll Down

About the company

Far East Consortium International Limited (FEC, HKSE: 35) is a leading regional conglomerate specialising in property development and investment, hotel operations and management, car park operations and facilities management, securities and financial product investment and gaming operations in Mainland China, Hong Kong, Malaysia, Singapore, Australia, New Zealand, the United Kingdom and Continental Europe.

The Group was publicly listed on the main board of the Hong Kong Stock Exchange in 1972. Established for over half a century, it has been recognised as one of the Asia Pacific region's leading land and property developers.

FEC's regional knowledge and local expertise enable it to develop and deliver residences and communities that target Asia's rapidly-expanding and affluent middle class, while advancing its position as a premier hospitality group with a broad array of interests.

View More
Close

Milestone

  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2021
      • FEC Launches Victoria Riverside Residential Project in Manchester
      • FEC to Sell Dorsett City London Hotel
  • 2020
      • Mr. Chris Hoong, Executive Director and Managing Director of FEC has received “Directors Of The Year Awards 2020” by The Hong Kong Institute of Directors
      • FEC acquired Ensign House in Canary Wharf, London at a £ 28,250,000. Located on the north side of Marsh Wall, the 4,572 square metre site sits adjacent to Consort Place, which is a property development owned by FEC consisting of 634-residential unit and 231-room hotel development with a targeted completion in 2023
      • FEC announced a working partnership with UK retailer Sainsbury’s to redevelop the site of Sainsbury’s existing store in Whitechapel, East London.
      • FEC Launches Two Brand-New UK Residential Projects Aspen at Consort Place in Canary Wharf, London and New Cross Central in Manchester.
  • 2019
      • FEC acquired Ensign House in Canary Wharf, London at a £ 28,250,000. Located on the north side of Marsh Wall, the 4,572 square metre site sits adjacent to Consort Place, which is a property development owned by FEC consisting of 634-residential unit and 231-room hotel development with a targeted completion in 2023.
      • FEC announced a working partnership with UK retailer Sainsbury’s to redevelop the site of Sainsbury’s existing store in Whitechapel, East London.
      • FEC Launches Two Brand-New UK Residential Projects Aspen at Consort Place in Canary Wharf, London and New Cross Central in Manchester.
      • FEC Jointly Acquires Oakwood Premier OUE Singapore Hotel and the Property LOT with AMTD.
      • FEC Partners with Mayland on the Launch of Dorsett Waterfront Subang.
      • FEC Wins the Bid for Kai Tak, Kowloon.
      • FEC Acquires 20 Acres from Network Rail to Progress Northern Gateway Scheme for 15,000 Homes, Deal Unlocks Land North of Manchester Victoria for Housing and Offers Potential for UK's First New York-Style "High Line" Park.
      • FEC’s subsidiary Care Park was appointed by Macquarie Principal Finance Group (“Macquarie”) to manage and operate SKYCITY’s car park in Auckland, New Zealand.
      • FEC acquired the Property in Melbourne CBD.
  • 2018
      • FEC expanded into European Hospitality Sector by acquisition of Trans World Corporation.
      • FEC Properties Pte. Limited awarded the tender for a property at Holland Road in Singapore.
      • FEC’s strategic alliance with The Star and Chow Tai Fook.
      • FEC Properties Pte. Limited awarded the tender for The Estoril at Holland Road in Singapore.
      • FEC acquired new development site in Central Manchester at Auction.
      • FEC, SC Global Developments and New World Development Win Bid for the Highly Sought-after GLS Site on Cuscaden Road in Singapore.
      • FEC acquired the Property at 21 Anderson Road in Singapore.
      • FEC announced together with Care Park awarded the tender for the Surfers Paradise Transit Centre and Bruce Bishop Car Park in Gold Coast, Queensland.
      • FEC succeeded in the bid of the land use rights of the land, Qilian Community, Baoshan Disctrict, Shanghai (the “Land”), offered for sale by Shanghai Baoshan District Planning and Land Bureau for RMB 402,420,000 (equivalent to HK$456,344,280).
      • FEC Acquired the Property at 21 Anderson Road in Singapore.
      • FEC, SC Global Developments and New World Development Won Bid for the Highly Sought-after GLS Site on Cuscaden Road in Singapore.
      • Far East Consortium (FEC) Acquired New Development Site in Central Manchester at Auction.
      • FEC Subsidiary Awarded the Tender for The Estoril at Holland Road in Singapore.
      • Strategic Alliance with the Star and Chow Tai Fook.
      • Expansion into European Hospitality Sector, Acquisition of Trans World Corporation.
      • FEC Subsidiary Awarded the Tender for The Estoril at Holland Road in Singapore.
  • 2017
      • FEC was appointed as the developer for the mixed-use development at key Perth City Link Site.
      • FEC was selected for the Northern Gateway Partnership.
      • FEC and its Consortium partners completed the acquisition of Sheraton Grand Mirage Resort at the Gold Coast.
      • FEC was announced as the preferred bidder of the Hornsey Townhall redevelopment project in London.
      • The Group sold its Silka West Kowloon hotel in Hong Kong at an aggregate consideration of HK$450 million and recorded a HK$316 million gain at completion.
  • 2016
      • FEC and its Queen's Wharf Brisbane Partners entered into Memorandum of Understanding for Development of The Star Entertainment Group's Properties in Sydney and Gold Coast.
      • FEC Awarded the Tender for Residential Land Site at Sha Tin Heights.
      • FEC won planning consent for Alpha Square in London.
      • FEC appointed as the developer for a prime residential site located near Victoria Station at Manchester, the United Kingdom.
      • FEC was appointed as the preferred developer for a key section of Western Australia's Perth City Link in Perth, Australia.
      • FEC Proposed Issue of US$300 Million 3.75 Percent 5-year Notes Due 2021 under Medium Term Note Programme.
      • Queensland Government Granted Queen's Wharf Brisbane Casino License to Destination Brisbane Consortium.
      • The Group has recently completed the purchase of a car park in the vicinity of the Manchester Airport in the United Kingdom.
  • 2015
      • Develops luxury hotel and mixed-use property project at 250 Spencer Street, Melbourne in Australia. With 250 rooms, the iconic Ritz-Carlton hotel will be the highest hotel in Australia.
      • Destination Brisbane Consortium, a joint venture between FEC Australia, a wholly owned subsidiary of the Company, Echo and Chow Tai Fook Enterprises Limited was selected by the Queensland State as the preferred proponent to undertake the Project. The Proj
      • Privatization of Dorsett Hospitality International on October 2015.
  • 2014
      • FEC's property development division expanded to London and acquired its first residential development site at Canary Wharf.
      • FEC entered the Perth market and secured a development opportunity at Elizabeth Quay.
      • FEC entered the facility management business with the acquisition of a Melbourne-based company.
      • FEC won a number of government tenders in Hong Kong, including the residential site in Tai Wai.
  • 2013
      • FEC issued its debut CNY1 billion 3-year bonds.
      • Dorsett issued its debut CNY850 million 5-year bonds.
      • Dorsett signed four new hotel management contracts covering 1,100 rooms in Malaysia.
      • FEC acquired a residential site at 250 Spencer Street, Melbourne, which substantially enlarged its land bank in Australia.
  • 2012
      • FEC carried out a renewal of its capital structure and repurchased and deregistered 11.7% of its shares, which enhanced the net asset value per share and improved the dividend per share.
  • 2011
      • Dorsett expanded its hotel operations outside of Asia Pacific into London and acquired its first hotel site at Shepherd's Bush, which opened in 2014.
  • 2010
      • FEC spun off its hotel division, Dorsett, on the Hong Kong Stock Exchange.
      • FEC issued 5-year 3.625% HK$800 million convertible bonds.
  • 2009
      • FEC entered the car park business and acquired a 74% stake in Care Park, a leading car park operator in Australia and New Zealand.
      • The Group purchased its first hotel site in Singapore.
  • 2008
      • FEC announced its regionalisation strategy and begun its journey to transform the Group into a regional conglomerate with property development and hospitality interests.
      • FEC acquired the Upper West Side development site in Melbourne.

Mission

We are committed to creating sustainable, long-term value and delivering consistent returns by focusing on our core businesses.

We remain focused on generating a steady cash flow from a balanced portfolio of businesses.

Awards & Recognition

  • Awards
    FEC Wins Five Awards at "Questar Awards 2021"
  • Awards
    FEC Wins Gold Award at "The Asset ESG Corporate Awards 2020"
  • Awards
    FEC (35.HK) Wins Best IR website at "IR Magazine Awards Greater China 2020"
  • Awards
    FEC Wins Three Awards at "Questar Awards 2020"
  • Award
    FEC Wins 9 Awards in "iNOVA Awards 2019"
  • Award
    FEC Wins Gold Award at "The Asset ESG Corporate Awards 2019"
  • Award
    Far East Consortium Receives Eight Award Nominations and Garners Three Awards at IR Magazine Awards - Greater China 2019
  • Award
    Far East Consortium Ranked First (Tied) in the "Asiamoney 30 Years of Corporate Governance Awards (Hong Kong) for the Decade Beginning 2010

Chairman & CEO's Statement

David Chiu

Chairman and Chief
Executive Officer

I am pleased to announce to our Shareholders that despite the COVID-19 pandemic and its impact on the economy, the Group has remained profitable in FY2021, largely due to our strategy of diversification and our efforts to contain costs. With vaccine rollouts speeding up across the globe, I am optimistic that we will soon see the light at the end of the tunnel.

In addition to the COVID vaccine, the National Security Law will help restore stability, thus cementing Hong Kong as a desirable post-pandemic travel destination for the Mainland Chinese. This is of great benefit to us and our hotel businesses. Mainland China handled the COVID pandemic very efficiently, meaning fewer restrictions for its population; at the same time, its population has become wary of travelling overseas. Hong Kong’s close proximity makes it an obvious choice for those with the pent-up desire to travel, revitalising the hotel industry and driving more business to our Dorsett brand hotels. Even amidst the pandemic, Dorsett has remained proactive by working with local governments to provide vital support services. By providing facilities for self-quarantine and accommodation for healthcare personnel, Dorsett continues to demonstrate its consistent commitment to social responsibility. These efforts have been well-recognised, propelling the Group to win multiple awards, including the “Gold Award” at The Asset ESG Corporate Awards 2020, “Most Committed to Social Causes in Hong Kong” in FinanceAsia’s Best Companies Poll in both 2020 and 2021, “Most Committed to the Highest Governance Best Standards in Hong Kong” in FinanceAsia’s Best Companies Poll 2021, and “Best Environmental Responsibility” at the 10th Asian Excellence Awards 2020. To capitalise on our robust recurring revenue, we are proceeding as planned with most of our construction pipeline, including the Ritz-Carlton Melbourne and Queen’s Wharf Brisbane.

The Group has always had a forward-thinking mindset with a view to maintain future growth, which is why we built up a strong and diversified property development portfolio. Our presale revenues stood at HK$13.8 billion as of 31 March 2021, which provide us with good visibility for the mid-term future. We believe that the low interest rate environment and solid demand from the middle-class will continue to benefit the property development market.

As part of our diversification strategy, the Group owns car parks and gaming operations worldwide. Lockdown measures have impacted business, but we managed to maintain a positive EBITDA despite facing tremendous challenges. We are confident that we will see an improvement as restrictions are lifted. Although these operations comprise a smaller part of our portfolio, we are positive that they will continue to contribute to the reliability of the Group’s revenues. BC Invest, our mortgage lending platform catering mostly to non-residents seeking a mortgage in Australia and UK, has been growing very fast. It is expected to continue to grow by broadening its product offering in Australia and internationally.

The Group fully shares the growing concerns from stakeholders in relation to ESG, which affects all walks of life. Therefore, the Group has established a sustainability steering committee to activate ESG developments and strategies. For example, we have actively worked with Hengan International Group Company Limited to procure and donate 1,000,000 face masks to primary and secondary schools, hospitals, and disadvantaged groups in Hong Kong and China. We have sought to replace single-use bathroom amenities with dispensers and provide eco-friendly reusable cutlery to our quarantine guests. Moreover, we have taken the initiative to source and distribute latex gloves internationally to offset the critical shortage that the world faced. Again, we are proud of the accolades that we have received, with the Group winning over 40 awards in 2020 alone.

Established for over half a century, the Group is not a new economy business but its appeal is solid. The proof lies in our financials, which have remained healthy throughout challenging times and enabled us to maintain dividend payouts, a solid measure of financial health. I have always believed that turbulence carries an opportunity to grow another platform; in this case, our sights are set on sustainable growth. Our strong balance sheet provides a reliable basis for the Group to grasp valuable investment opportunities.

I would like to take this opportunity to thank our shareholders, financiers, partners, and colleagues for their steadfast support, which underpins our business’s steady growth and is fundamental for the Group’s success.