Latest news with #HSH
The Star
22-05-2025
- Business
- The Star
China woman in Singapore who duped firm into delivering metal sheets worth nearly S$7mil gets 9½ years' jail
SINGAPORE: An assistant sales manager of a company that sold construction materials submitted fake purchase orders to dupe it into releasing its products – metal sheets – worth nearly S$7 million in total. Chinese national Lang Qian, who was working for Hock Seng Hoe Metal Company (HSH) at the time of her offences, then sold the metal sheets to other firms. Court documents did not disclose how much she earned by doing so. HSH suffered the full extent of the losses as it did not receive any payment for the metal sheets it delivered because of her deception. The 39-year-old Singapore permanent resident was sentenced to 9½ years' jail on Thursday (May 22) after she pleaded guilty to seven counts of cheating involving metal sheets worth more than $5.5 million. Twenty-one other charges, including those relating to the remaining metal sheets, were taken into consideration during her sentencing. Deputy Public Prosecutor Jordon Li told the court that Lang's alleged accomplice was one Yu Xun, who was then the owner of a company called Century Construction and Engineering. The court heard that Yu's company had earlier bought metal sheets from HSH and he got to know Lang after liaising with her. From November 2022, Lang embarked on a scheme to cheat HSH and submitted fake purchase orders to it. The company processed the orders and was duped into releasing the metal sheets. Between November 2022 and June 2023, she submitted 59 fake purchase orders purportedly from seven different companies. After that, Lang sold the metal sheets to various undisclosed buyers. DPP Li said: 'In the course of selling the metal sheets that were dishonestly obtained from HSH, the accused would represent to potential buyers that Century was looking to sell its excess stock of metal sheets, or that she was acting on behalf of Century in selling the metal sheets.' He added that Lang would then get Yu to issue fake invoices under Century's letterhead to the buyers of the metal sheets. She would also provide the details to be included in the fake invoices, including the buyers' information and details of the items sold. This misled the buyers into thinking they were buying metal sheets belonging to Century and made payments to it, the court heard. The DPP added that after receiving the payments, Yu deducted 3 per cent from the ill-gotten gains as his commission before transferring the balance to bank accounts that Lang had provided. Court documents did not state how the offences came to light or if Yu has been dealt with earlier. For each count of cheating, an offender can be jailed for up to 10 years and fined. - The Straits Times/ANN
Straits Times
22-05-2025
- Business
- Straits Times
Woman who duped firm into delivering metal sheets worth nearly $7m gets 9½ years' jail
Woman who duped firm into delivering metal sheets worth nearly $7m gets 9½ years' jail SINGAPORE – An assistant sales manager of a company that sold construction materials submitted fake purchase orders to dupe it into releasing its products – metal sheets – worth nearly $7 million in total. Chinese national Lang Qian, who was working for Hock Seng Hoe Metal Company (HSH) at the time of her offences, then sold the metal sheets to other firms, but court documents did not disclose how much she earned by doing so. HSH suffered the full extent of the losses as it did not receive any payment for the metal sheets it delivered due to her deception. The 39-year-old Singapore permanent resident was sentenced to 9½ years' jail on May 22 after she pleaded guilty to seven counts of cheating involving metal sheets worth more than $5.5 million. Twenty-one other charges, including those relating to the remaining metal sheets, were taken into consideration during her sentencing . Deputy Public Prosecutor J ordon Li told the court that Lang's alleged accomplice was one Yu Xun , who was then the owner of a company called Century Construction and Engineering. The court heard that Yu's company had earlier bought metal sheets from HSH, and he got to know Lang after liaising with her. From November 2022, Lang embarked on a scheme to cheat HSH and submitted fake purchase orders to it. The company then processed the orders and was duped into releasing the metal sheets. Between November 2022 and June 2023, she submitted 59 fake purchase orders purportedly from seven different companies. After that, Lang sold the metal sheets to various undisclosed buyers. DPP Li said: 'In the course of selling the metal sheets that were dishonestly obtained from HSH, the accused would represent to potential buyers that Century was looking to sell its excess stock of metal sheets; or that she was acting on behalf of Century in selling the metal sheets.' He added that Lang would then get Yu to issue fake invoices under Century's letterhead to the buyers of the metal sheets. She would also provide the details to be included in the fake invoices, including the buyers' information and details of the items sold. By doing so, the buyers were misled into thinking that they were buying metal sheets belonging to Century and made payments to it, the court heard. The DPP added that after receiving the payments, Yu deducted 3 per cent from the ill-gotten gains as his commission before transferring the balance to bank accounts which Lang had provided. Court documents did not state how the offences came to light or if Yu has dealt with earlier. For each count of cheating, an offender can be jailed for up to 10 years and fined. Shaffiq Alkhatib is The Straits Times' court correspondent, covering mainly criminal cases heard at the State Courts. Join ST's WhatsApp Channel and get the latest news and must-reads.
Tatler Asia
28-04-2025
- Business
- Tatler Asia
The hospitality gene: 15 wealthy families behind Asia's hotel empires
2. The Ongpin family (Philippines) As far as hotel empires go, this one is more modest but just as impactful. The late tycoon Roberto Ongpin's legacy lives on in Balesin Island Club, developed under Alphaland Corporation. This exclusive, members-only island features themed villages—from Mykonos to Phuket—offering a jet-set fantasy without leaving the Philippines. The Ongpin family's eye for indulgent, hyper-curated detail turned Balesin into a byword for elite escape. 3. The Oberoi family (India) The Oberoi family, through the illustrious Oberoi Group, operates the most iconic luxury hotels across India and beyond. Think The Oberoi Udaivilas in Udaipur, a lakefront fantasy of domes and marble; The Oberoi Amarvilas in Agra, which offers every room a view of the Taj Mahal; and The Oberoi Rajvilas in Jaipur, an opulent retreat that channels royal Rajasthan. These properties are synonymous with impeccable service, heritage-rich design and the kind of hushed elegance that whispers old money. Don't miss: Live like royalty: 8 palaces turned luxurious hotels 4. The Lagdameo family (Philippines) Pearl Farm Beach Resort in Davao is owned by the family of Anton Lagdameo Jr, husband to actress Dawn Zulueta. Once a pearl farm, it's now a premier destination marrying Mindanao's cultural depth with refined relaxation. Think Maranao-inspired architecture, world-class diving and thoughtful heritage preservation wrapped in island-luxe comfort. 5. The Kadoorie family (Hong Kong) The Kadoorie family owns and operates The Peninsula Hotels through The Hongkong and Shanghai Hotels, Limited (HSH). Established in 1866, HSH is a publicly listed company in Hong Kong, with the Kadoorie family holding a significant stake. The Peninsula name is shorthand for quiet power and timeless luxury—flagship properties like The Peninsula Hong Kong and The Peninsula Tokyo continue to set the standard for urban glamour. 6. The Hoshino family (Japan) The Hoshino family has been at the helm of Hoshino Resorts since its inception in 1904. Once a forestry business, it evolved into a hospitality group that redefined traditional ryokan and eco-luxury. Now led by fourth-generation Yoshiharu Hoshino, the brand's portfolio—from Hoshinoya Tokyo to nature-forward resorts like Kai and Risonare—merges deep Japanese sensibilities with modern sustainability. 7. The Tata family (India) Through the Indian Hotels Company Limited (IHCL), the Tata family operates Taj Hotels—a cornerstone of India's luxury hospitality. Their crown jewel, The Taj Mahal Palace Mumbai, has hosted royalty, rockstars and revolutionaries since 1903. Across palaces-turned-resorts and contemporary five stars, the Tata family's influence is an enduring thread in the fabric of South Asian elegance. 8. The Acuzar family (Philippines) Visionary developer Jose 'Jerry' Acuzar turned heritage into hospitality with Las Casas Filipinas de Acuzar. This open-air museum and resort features transplanted and restored ancestral homes from all over the Philippines—an ambitious feat of cultural preservation. Operated by Marivent Resort Hotel Inc, Las Casas is a love letter to Filipino architecture, wrapped in five-star treatment and visual poetry. 9. The Hartono family (Indonesia) They're better known for clove cigarettes and high finance than scented candles and spa menus, but when Indonesia's richest family gets into hospitality, they commit fully. The Hartonos, via their Djarum Group, operate the Hotel Indonesia Kempinski Jakarta, a grand dame of Southeast Asian luxury and a fixture in the capital since the 1960s. Nestled within the Hartono-owned Grand Indonesia complex, this hotel isn't just a place to check in, it's a statement of national prestige and private opulence. Unlike legacy hoteliers, the Hartonos treat hospitality as part of a wider empire: from tobacco to tech and now, high-thread-count sheets. Still, when your name is on the most iconic hotel in Jakarta, you've more than earned your seat at the table, even if you didn't start with bellhops and bathrobes. See more: 9 fabulous boutique hotels in Indonesia 10. The Siriphatrawan family (Thailand) Thailand's Siriphatrawan family has quietly maintained a hospitality lineage for over two decades. With Earp Siriphatrawan at the helm, the family continues to run properties such as the Amora Hotel Jamison in Sydney. Refusing to be absorbed by conglomerates, their independent operations are a statement of boutique autonomy in a globalised industry. 11. The Tiu family (Philippines) Under Discovery World Corporation, the Tiu family continues to elevate the Philippine resort experience. From Discovery Shores Boracay, a mainstay on luxury travel lists, to the upcoming Kip&Kin Siargao (opening 2027), designed to appeal to millennials and Gen Z, their projects are trend-aware yet tasteful. Chairman John Y Tiu Jr's leadership signals a next-gen focus: fresh, tech-savvy and attuned to millennial wanderlust. 12. The Hadiprana family (Indonesia) The Hadiprana legacy lives on at Tanah Gajah in Ubud, Bali—once the private estate of renowned architect Hendra Hadiprana. Today, the resort preserves his artistic vision with sculpture gardens, Balinese pavilions and galleries. Managed by his descendants, Tanah Gajah offers an immersive stay that feels both personal and patrician. 13. The Tan family (Philippines) Andrew Tan, founder of Megaworld Corporation and Alliance Global Group, has significantly influenced the Philippine hospitality landscape. Under his leadership, the family developed Newport World Resorts in Manila, a premier integrated resort complex. Additionally, through Global-Estate Resorts Inc, they have established luxury destinations like Twin Lakes in Tagaytay and Boracay Newcoast, fusing upscale living with tourism. 14. The Cheng family (Hong Kong) Apart from the renowned Chow Tai Fook Jewellery, the Cheng family operates Chow Tai Fook Enterprises, which controls New World Development, the property company that has been instrumental in shaping Hong Kong's luxury real estate and hospitality sectors, as well as Rosewood Hotel Group, which manages high-profile properties like the Rosewood Hong Kong and Rosewood Beijing. These establishments are renowned for their sophisticated design and exceptional service, embodying the family's dedication to excellence. Also read: Hong Kong's most seductive hotel suites for a romantic getaway 15. The Kuok family (Malaysia) The Kuok family, through the Shangri-La Group, has built one of the world's most recognisable luxury hospitality brands. Founded by tycoon Robert Kuok, the group's portfolio spans more than 100 hotels and resorts across Asia, the Middle East, Europe and North America. In addition to flagship properties like the Shangri-La Singapore and Island Shangri-La in Hong Kong, the brand has expanded with new concepts such as Kerry Hotels and Hotel Jen, targeting younger and more lifestyle-driven travellers. The Kuok family is known for combining Asian hospitality with world-class service.
Yahoo
02-04-2025
- Business
- Yahoo
This SF couple wants $300K back for restaurant in building that's now opening a youth shelter
Kay and Ryan Zin spent a year and more than $300,000 on permits and renovations before opening Bay of Burma restaurant in San Francisco's South of Market area in 2023. The business owners leased space on the ground level of a mixed-use building, with residences upstairs. The day after their grand opening, they learned the city was turning the residences into a homeless shelter for youth. "We didn't have any clue what is happening on the building," Kay told ABC7 News in San Francisco. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP With the shelter slated to open April 2025, the Zins feel trapped. They want to relocate, but that would mean breaking their lease and losing the money they invested in their existing restaurant. "We are the tenants, too,' Ryan said. 'We don't want to deal with everything that we don't want to because we want to focus on our business, but our hands are tied." The city chose the location because it complements other city-run supports nearby, including an addiction treatment center, a sobering center and homeless shelter. But area businesses are concerned about increased crime. The Zins' restaurant has already been robbed twice — at gunpoint. Small businesses are worried would-be customers will stay away due to growing safety concerns. "I just wanted to relocate to a safer place," said Kay. Read more: Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus 2 ways to build that first-class portfolio For over a year, the Zins have been communicating with the city's Homelessness and Supportive Housing (HSH) department about their concerns. They want the city to refund their $300,000-plus investment so they can move. HSH supervisor Matt Dorsey told ABC7 News is willing to help the Zins and that he doesn't 'want to do anything that will hurt a small business.' 'They didn't sign up for this,' he said. 'They want out. I'm happy to have that conversation and bring my office in negotiating that.' Dorsey added that the city will be providing round-the-clock 'ambassador services' in the neighborhood to address concerns about safety. He said there will also be onsite security in the shelter overnight. Small business owners in situations like the Zins may feel stuck, but there are steps to mitigate risk, advocate for support and deal with risk. Understand your rights. Before signing a lease, it's critical to review any clauses about building ownership changes, city takeovers or early termination rights. If you're already leasing, consult your lease agreement to see if the landlord violated any disclosure or notification requirements. Commercial tenants may have rights depending on lease terms and local ordinances. Build alliances with other small businesses. You're stronger together. Join or form a merchant association or collaborate with nearby businesses to share advocacy, safety initiatives and resources. Voice collective concerns to city officials or neighborhood councils. Adapt to change. If your customer base shifts, consider adjusting your business model. This might include offering delivery or pickup to reach customers reluctant to visit in person, expanding your online presence or hosting community events to foster positive engagement. Seek legal or financial advice. If you're facing eviction, unexpected relocation or damages, consult a legal expert with experience in commercial property law. Additionally, a financial adviser can help you create a plan for relocation, recovery or assistance applications. Apply for local or state grants and aid. Your municipality or state may offer grants to support small businesses facing displacement or hardship, covering things like relocation, lease assistance and infrastructure improvements. Engage with city officials and local media. Make your voice heard by attending public meetings or speaking to local representatives. Raising awareness through media as the Zins did can also amplify your situation and potentially bring support or solutions. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
