Latest news with #HarilelaGroup
South China Morning Post
16-05-2025
- Business
- South China Morning Post
Decades of partnership: UOB helps Harilela Group grow family business into hotel empire
04:17 How UOB partners with Hong Kong's Harilela Group to expand its hotel business globally How UOB partners with Hong Kong's Harilela Group to expand its hotel business globally When a business charts its path for expansion, banking services alone are not enough. True progress demands a strategic partner – one that will share the organisation's long-term vision, align on measurable objectives and cultivate relationships rooted in trust and mutual respect. These values are at the heart of how United Overseas Bank's (UOB) Group Wholesale Banking (GWB) division supports clients across the Asean bloc of Southeast Asian nations and beyond. Through tailored financing, investment promotion and strategic advice, UOB helps businesses pursue overseas expansion and profitability. 'UOB drives business connectivity and cross-border trade within the region and from Asean to the rest of the world. Through us, businesses can find the right partners, enhance working capital efficiencies and expand seamlessly into new markets,' says Christine Ip, CEO of UOB Greater China. 'We have an extensive regional footprint, strong sector expertise and deep local market knowledge.' Such support is crucial in Asia, where opportunities abound in emerging technology sectors as well as in more traditional industries like hospitality. With the right projects and banking partner, even long-established names can unlock fresh avenues for expansion. One such success story is the Harilela Group, a Hong Kong-based hotel operator that is a long-time UOB client. For over 30 years, UOB has supported the group's diverse needs, from corporate banking for its hotel operations to private banking services for the Harilela family. The Harilela family stands before the building site of the Holiday Inn Golden Mile in Hong Kong in 1974, the year before the Harilela Group's flagship property opened to the public. Photo: Harilela Hotels On the hotel side, this enduring partnership has included mergers and acquisitions advisory for both purchase deals and asset disposals, as well as cash management and treasury functions for key properties like The Hari Hong Kong and the Holiday Inn Singapore. When necessary, UOB also provides tailored loan facilities and hedging solutions to protect the group against market volatility.
Bloomberg
17-04-2025
- Business
- Bloomberg
Here's what Hong Kong needs to do to attract family offices
Family offices say they are drawn to Hong Kong for its access to China investments and lifestyle perks, though they see a need for better vetting within the industry. Joe Qiao, chief investment officer at Taiwan-based single-family office Globaltec Capital, says he hasn't encountered another agency that matches the intensity of InvestHK, the government arm tasked with attracting capital to Hong Kong. 'It's crazy. I went to events in Shanghai, in Beijing — they're everywhere,' Qiao said. Still, controversy over an announced family office launch last year sparked questions about due diligence — just as Hong Kong pushes to position itself not only as a bridge to mainland capital, but as a true global gateway for the ultrawealthy. President Donald Trump's tariffs that have upended global markets are also presenting fresh challenges to Hong Kong's wealthiest families. 'At the moment, while the verbal rhetoric is shrouding reality, we are taking a cautionary view,' said Mahesh Harilela, family council investment strategist at hotel developer Harilela Group, which owns and operates hotels globally. Here's what family offices say about Hong Kong's wealth push so far. Carman Chan, founder and principal at Click Ventures, a Hong Kong and Singapore-based single-family office: Many global families see China as a critical market, but they worry about how to enter and, crucially, exit investments smoothly. If Hong Kong becomes the only jurisdiction where global families can confidently access, grow, and exit China investments, it will be irreplaceable — neither Singapore nor Dubai can match this advantage. Beyond financial policies, Hong Kong offers exceptional lifestyle advantages that may be appealing to global families. The city's international schools stand out by providing four different levels of Chinese language programs, including native-level fluency — far surpassing the basic Chinese offerings at most international schools in Singapore or Dubai. Global trade wars are reshaping venture capital strategy globally and creating both challenges and opportunities. On the liquidity front, slower merger and acquisition and IPO activity may delay exits, making fundraising more difficult for VCs. This environment also opens doors for alternative solutions like secondary funds and continuation vehicles. Family offices in Hong Kong are more collaborative and communicate with each other far more than in the US. And we're trying to do more of it here in Hong Kong — get more family offices together to share ideas and learn from each other. That improves the economies of scale so that we can also be a more attractive destination for general partners from all over the world. I don't think its even about specific additional supportive policies. Hong Kong stands out on its own in terms of the unique positioning within the global investment landscape. (Zhu spoke at the Bloomberg Family Office Summit in Hong Kong on March 27.) Joe Qiao, chief investment officer at Globaltec Capital, a single-family office based in Taiwan: A lot of family offices are becoming more institutional and professional. Five years ago, people were mostly talking about direct investment deals, but these days its sophisticated transactions. People are discussing secondary transactions, asset package buying credit — all new things and all very sophisticated investments approaches. (Qiao spoke at the Bloomberg Family Office Summit in Hong Kong on March 27.) Multi-family offices are complex and demand sophisticated professional services. Managing diverse investments and cross border tax jurisdictions requires expertise from skilled professionals from around the world. Tax incentives alone are not enough: Hong Kong must also attract high-value employment. This will generate government revenue through stamp duties and salaries taxes — and in turn it will support other service industries. Kevin Qin, vice-chairman of the Asian Family Legacy Foundation, a family office community: The past week of tariff turmoil has likely heightened uncertainty for businesses and investors, directly influencing the global asset allocation strategies of family offices. While tariffs may cause short-term disruptions for Hong Kong, the city's historical resilience and adaptability offer a sense of optimism.
