Billionaire Richard Li's FWD Group seeks to raise $442 million in Hong Kong IPO
Insurer FWD Group, backed by billionaire Richard Li, is looking to raise HK$3.47 billion ($442.08 million) through a Hong Kong initial public offering, according to a regulatory filing made on Thursday.
($1 = 7.8492 Hong Kong dollars)
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CNA
an hour ago
- CNA
Cult favourite Hong Kong Cha Chaan Teng Mon Kee opening in Singapore in July
Cha chaan tengs in Hong Kong are a dime a dozen. But a cha chaan teng serving slightly elevated classics like wobbly, barely-set scrambled eggs whipped up with Japanese eggs and milk, atop savoury char siew and rice? Well, only a few in the bustling city can claim to offer that. Cult favourite CCT chain, Mon Kee Cafe, is one of such establishment. The brand is coming to Singapore – albeit not as a standalone cafe like in Hong Kong, but via a stall in a food court at Raffles City Shopping Centre. Mon Kee Singapore will soft launch on Jul 4 at the revamped The Food Place food court, owned by Food Republic. MON KEE CAFE WILL BE LOCATED IN A RAFFLES CITY FOOD COURT The food court that has undergone a major renovation, featuring some farm-to-table aesthetics with greenery and warm interiors. The stalls, too, have been overhauled, with a new line-up of brands, including some Michelin-recognised names. Alongside Mon Kee, another stall to look out for is Ju Xing Fish, the first sauerkraut fish express concept by Hong Kong's Ju Xing Home, a Hong Kong Michelin Bib Gourmand restaurant that has a fancier restaurant at Ngee Ann City. MON KEE'S POPULAR CREAMY SCRAMBLED EGG DISHES Mon Kee opened its first outlet in 2016 in Wan Chai, Hong Kong, and quickly gained traction with the office crowd. The 24-seater was so popular that they opened a second branch in Quarry Bay nine months later. Today, the brand has expanded to four standalone cafe outlets across Hong Kong. According to co-founder Derek Choi, 56, the name 'Mon Kee' is a playful nod to old-school cha chaan teng monikers – 'Mon' being a common name in traditional shopfronts – and also a pun on the word 'monkey', as all the founding partners were born in the Year of the Monkey. 'It's just a fun thing that stuck,' he told CHAR SIEW SCRAMBLED EGG RICE, S$8.50 Mon Kee's signature char siew scrambled egg rice with homemade sweet soya sauce paired with fluffy Japanese eggs and house-made barbecued pork. 'The dish is all about balance,' Choi explained. 'Not just great char siew or great eggs, you have to take one spoonful with everything to really enjoy the full effect.' SCRAMBLED EGG RICE DISHES FROM S$6.50 'We want to keep our food affordable and accessible,' Choi said, noting that most items are priced similarly across both cities. Other eggy rice options include chicken karaage scrambled egg rice (S$7.50), beef scrambled egg rice (S$9), siu yuk scrambled egg rice (S$10) and a meatless offering of tomato fried egg rice (S$6.50). Another highlight is the luncheon meat macaroni in creamy tomato soup (S$6), which our senior food editor tried years ago in Hong Kong and recommends: 'Its thick, tangy tomato soup is more like a gravy, with fat cubes of luncheon meat fried till the outsides are crispy while the insides remain pillowy'. UNIQUE CORNED BEEF WITH EGG & PEANUT BUTTER SANDWICH The most interesting item at Mon Kee is undoubtedly the quartet sandwich, a niche sarnie even in Hong Kong. It's a quirky, love-it-or-hate-it combo of corned beef, egg, lettuce and… peanut butter. It's so polarising that few places in Hong Kong besides Mon Kee offer it. One such joint is Dai Pai Dong, a traditional open-air food stall in Hong Kong and Yue Hing Coffee. Despite that, the quartet has become one of Mon Kee's best-selling dishes, said Choi. Mon Kee also offers luncheon meat instead of corned beef if you so wish. While it may sound unconventional, Choi explained that the creation was the result of extensive experimentation. 'We wanted something satisfying but not too heavy,' he said. 'Peanut butter and egg go surprisingly well together. But to lighten it up, we added lettuce – it completely changed the eating experience.' 'In Hong Kong, we serve it on plain toast,' he continued. 'But in Singapore, we wanted something that felt more distinctly 'Hong Kong', so we decided to use bolo buns. The sweetness of the bun pairs beautifully with the savoury fillings.' BOLO BUN QUARTET WITH CORNED BEEF, EGG, PEANUT BUTTER & CABBAGE, S$8.50 There are two bolo bun quartet options here: Corned beef (S$8.50) or luncheon meat (S$8), paired with scrambled eggs, peanut butter and lettuce. The buns are made by a local bakery using Mon Kee's own recipe. If it all sounds too much for you can get a classic bolo bun with butter (S$5). HONG KONG MILK TEA ONLY AVAILABLE AS PART OF SET MEAL You can also enjoy Mon Kee's Hong Kong-style milk tea hot or iced but only as part of a set meal, not a la carte. Add S$3 to your main dish, or pay S$6 for a cup of tea, together with a plate of scrambled eggs and mini bolo bun. Choi told us the tea is brewed using a blend of three different types of Ceylon leaves. MON KEE SG OPENED IN PARTNERSHIP WITH NAKED FINN FOUNDER Interestingly, Mon Kee was brought to Singapore in collaboration with founder of seafood restaurant The Naked Finn and BurgerLabo, Ken Loon, 50. Choi happens to also be a partner in these two Singapore restaurants and the men have been longtime collaborators. 'The owners of Mon Kee are my partners,' Loon told 'They previously had a Mon Kee stall in Food Republic's Hong Kong branch, so when this opportunity came up, I asked if they wanted to work together. I've always craved proper Hong Kong comfort food, and this is the real deal.' Loon's team in Singapore will be operating Mon Kee. 'The chef for Mon Kee was previously with my Naked Finn and BurgerLabo team. Right now, he's in Hong Kong for training,' Loon shared. 'At any one time, we'll have three staff at the stall. It's the first time we're doing something like this in a food court, so it's a bit of trial and error.' CHA CHAAN TENG STAPLES DONE RIGHT For Choi, returning to Food Republic felt natural. 'We worked with them in Hong Kong for four years before the [Hong Kong] government reclaimed the land for redevelopment,' he shared. 'We've always wanted to go overseas, and there's no better place to start than in Singapore – Ken is based here, and we trust the Food Republic team.'
CNA
an hour ago
- CNA
Boost household spending to rebalance China's economy: Economist
S&P Global Ratings Chief Economist Paul Gruenwald argues that boosting household purchasing power in China is essential to rebalancing Asia's top economy so that it can achieve its ambitious growth targets.
Independent Singapore
an hour ago
- Independent Singapore
Darktrace appoints Sumit Bansal VP for Asia as APAC faces ‘critical' wave of AI-powered cyberthreats
Photo: LinkedIn/Sumit Bansal Cybersecurity firm Darktrace has appointed Sumit Bansal as vice president for Asia to help meet growing demand for stronger defence against AI-powered cyberthreats, as 77% of organisations in the Asia-Pacific region have already been significantly affected by such attacks, according to a media release on Thursday (June 26). The firm said Mr Bansal will focus on key markets across ASEAN, Hong Kong, Taiwan, and South Korea. Mr Bansal brings more than 25 years of experience in cybersecurity and has held leadership roles at CheckPoint, Symantec, Sophos, and, most recently, as vice president for Asia Pacific and Japan at BlueVoyant. He has also worked closely with cloud service providers like Microsoft and AWS. In his new role, Mr Bansal will lead Darktrace's efforts to grow its customer base, partner footprint, and market presence in the region. The company said his deep understanding of the security landscape and strong networks of chief information security officers (CISOs) and channel partners will support its growth strategy across key Asian markets. Mr Bansal, who is joining Darktrace at a critical time, as businesses across Asia face increasing cyber risks, said, 'I am excited to join Darktrace at such a pivotal time for the company, the cybersecurity industry and for Asian markets undergoing accelerated digital transformation.' Trevor Coetzee, senior vice president for MEA and APJ at Darktrace, said Mr Bansal's appointment reflects the company's focus on strengthening its presence in key Asian markets. He noted, 'His exceptional track record in scaling security businesses and his hands-on approach to leadership will be invaluable as we continue to deliver our AI-powered cybersecurity solutions to organisations across the region.' /TISG Read also: Cybernews researchers urge internet users to change passwords after 'brief' exposure of 16B login records
