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About the company

Far East Consortium International Limited (FEC, HKSE: 35) is a leading regional conglomerate with 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. With over forty five years of experience operating in Asia Pacific, it has been recognised as one of the 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.

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  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2019
      • 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.


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

  • 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
  • Award
    FEC (35.HK) Wins Three Awards at "9th Asian Excellence Award 2019"
  • Award
    FEC Wins "Best Investor Relations Award" in 2019 China Financial Market Listed Companies Awards
  • Award
    FEC (35.HK) Garners Twelve Honours at the HKIRA 5th Investor Relations Awards 2019
  • Award
    FEC (35.HK) Awarded “Caring Company Logo” at Caring Company Partnership Expo 2019

Chairman & CEO's Statement

David Chiu

Chairman and Chief
Executive Officer

As you may know, we have a very clear business focus to become a leader in providing overseas properties, hospitality and entertainment services to the Asia’s middle class. I am pleased to report to our Shareholders that this strategic positioning is yielding encouraging results with record-breaking profitability last year. The Group experienced continuous development and expansion through the implementation of a series of effective business initiatives. We made several key achievements, and I am particularly proud that our recurring cash flow business grew strongly and we secured exciting opportunities that allow the Group to continue to grow in the coming years.

We continued to pursue our “Dual-Engine” development strategy targeting growth in both recurring cashflow streams and built-to sell business. Great efforts have been made in all three recurring cashflow businesses, namely hotel, car park, and gaming and entertainment operations, with recurring income accounted for more than half of our core cash profit. Hotel segment achieved encouraging growth mainly driven by overall RevPAR growth and new acquisitions. The business also has a clear growth visibility with many new hotels in the development pipeline. In respect of our car park operations, we continued our expansion in the UK and continental Europe, pursuing car park acquisitions with high yields.

Gaming and entertainment segment became our new income contributor following the acquisition of TWC and investment in a stake in The Star. With the first phase of Queen’s Wharf Brisbane integrated resort expected to open in late 2022, we can expect the contribution from this segment will continue to grow. We believe that our strategy, featuring regional diversification and growing our four core businesses and reallocation of capital, will enable us to gain a higher return on equity than our industry peers in the long term.

Property development continued to be a core business of the Group. We have built a strong property development portfolio to maintain future growth. During the last financial year, we continued to score historic new highs in our cumulative pre-sales value. Such figure points to a clear visibility for the Group’s property sales in the years to come. The land resources we now have is sufficient for the Group’s development in the next decade.

The reason why we are diversified regionally with a clear focus of targeting the middle-class segment is simply that the real estate industry has cycles. Regional diversification enables us to acquire land at a lower cost from different markets at appropriate timing. We will continue to invest in regions with strong population growth and strong demand for housing. This includes key cities in the UK and Australia as well as selected cities in Asia.

In Manchester, in particular, housing for middle class has great potentials. At the moment, weaker pound and Australian dollar against the Hong Kong dollar has provided us with a good opportunity to allocate capital in these regions. Despite fierce competition in land acquisition, Greater Bay Area is also another region we will explore given its growth potentials. For land acquisition in Hong Kong, as mentioned in our last year’s annual report, we remain cautious as we see prices have risen beyond affordability of the general public and profit margin has become thinner. In respect of hotel operations, I am delighted to report that our hotel RevPAR in Hong Kong continued to improve, owing to an increase in tourist arrivals from Asian countries and long-haul tourism as well as a rebound of Mainland tourists. For other overseas hotel markets, our hotel operations also continued to benefit from more frequent travel and greater demand from the Asia’s middle class. Going forward I expect new room additions in Australia and the UK will drive the growth of our hotel operations.