4hw.com.cn: after Hong Kong's richest man, Li Ka Shing, announced his retirement plan last month, another figure of his generation, Stanley Ho, who is known as the "gambling king" of Macao, will also retire. SJM announced Friday on the Hong Kong stock exchange that Mr. ho would formally retire after the 2018 annual general meeting on June 12, resigning as chairman, executive director and member of the Executive Committee of the board of directors, and replacing him as honorary chairman of the company. After "gambling king" leaves office, his daughter he Chaofeng will take over as the chairman and executive director of the company, four tais Liang Anqi and Huo Zhenting will take over as the co chairman and executive director of the company, Su Shuhui will be the vice chairman, executive director and chief executive officer of the company, three tais Chen Wanzhen will also be the executive director.
Who will take over the business empire
Mr Ho's exit from SJM means that he is about to complete all the baton delivery work. After the "gambling king" retired, the most concerned by the outside world is the succession candidates and the distribution of family property.
"Gambling king" has built a commercial empire in the market all his life. The two most important sites are Aobo and Xinde. At present, their market value is HK $40.8 billion and HK $9.7 billion respectively. These two assets will be taken over by two daughters of second house.
He Chaofeng, the second daughter of the second room, took over as chairman of Aobo. In June last year, the gambling king resigned as chairman of Sindh. The chairman's position was taken over by the eldest daughter he chaoqiong, a member of the second room.
He Chaofeng, 54, the second daughter of the second house, ranks fifth among the 11 daughters and is about to take over the chairmanship of Aobo group. However, according to the 2017 semi annual report of Aobo, he Chaofeng only holds 0.05% of the shares. In fact, it's more like he chaoqiong, the eldest daughter, who takes the lead in gambling.
He chaoqiong, the eldest daughter of the second house, was born in 1962. She was brought up by Mr. Ho and was the most beloved of many children. She had a deep understanding of her father's true story and strong ability. At the age of 33, she became a director of Hong Kong Sindh group, a family business. In 2011, MGM, a subsidiary of MGM, landed on the Hong Kong stock exchange. At that time, market people calculated that her fortune was close to $5 billion, more than $3.1 billion of Mr. Ho's, and she was named "after gambling". At present, the market value of MGM China is as high as HK $77.7 billion, far exceeding the market value of Aobo.
He chaoqiong is also concerned about her marriage. In 1991, he chaoqiong married Xu Jinheng. Before that, Xu Jinheng had a relationship with Carina Lau. After marriage, he also had an affair with Chen Farong and Lizi. Until now, the marriage of Xu Jinheng and his current wife, Li Jiaxin and he chaoqiong, has been mentioned from time to time.