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(1 May 2007 - Hong Kong) Mission Hills Group today announced the appointment of Mr. Wilfred Wong, JP, as Group Chief Executive and Executive Deputy Chairman with effect from 1 May 2007 at a press conference held at its headquarters. Mr. Wong will be responsible for overseeing the Group’s business operations. Dr. David Chu, JP, Group Chairman of Mission Hills Group, commented that with the winning of the 12-year contract to host the World Cup of Golf at Mission Hills Golf Club, China, from 2007 through 2018, the core business interests of Mission Hills Group has expanded from a golfing-oriented operation to cover a broader recreational arena. The Group will in turn focus on developing large-scale projects that offer even more relaxed and modern lifestyle amenities conducive to a new ‘live and work’ model in China.
Currently, Mission Hills Group’s core businesses include golf operations, recreational property development, international tournament hosting, large-scale, integrated recreational and tourist area development, as well as hotels and conference centres. With the rapid growth in domestic consumption in China, Dr. Chu believed that the service sector, such as the travel and recreational industries, will become a national pillar industry, which will also help fuel the Group’s future development. Commenting on the Group’s listing plan, Dr. Chu said that it will depend on the strategic development and the Group’s business needs. Mission Hills Group currently has adequate resources for its organic development in all aspects. He did not rule out the possibility of taking the Group public at the right time. He also disclosed that the Group has received numerous invitations from different areas and cities to develop new integrated recreational and tourism projects.
At the press conference, Mr. Wilfred Wong commented that Mission Hills Group has created and promoted a new lifestyle and business model in China, and established a global brand in the international golfing and recreational arena. The status is further elevated with the winning of a 12-year contract (2007-2018) to host the World Cup of Golf, synonymous to “The Olympics of Golf”. Mr. Wong’s mission, as a result, is to extend the world-acclaimed ‘Mission Hills’ brand to other new development projects.
Mission Hills Golf Club, China, is the Group’s largest investment project to date. As the world’s largest golf club, Mission Hills also has the world’s largest clubhouse too; the Dongguan Clubhouse covers a total area of 63,000-square meters. It also includes Mission Hills Country Club, which houses the largest tennis centre in Asia with 51 tennis courts, with the centre court alone having the capacity to seat 3,000 spectators. Numerous international business facilities are available at the Dongguan and Shenzhen Clubhouses, as well as boutique resort and spa hotels, which also includes Asia’s biggest and best spas; a large-scale convention centre; two golf academies headed up by the world’s best golf masters David Leadbetter and Cindy Reid. Mission Hills has developed into a mixed-use development with sports, recreation, business, conference and residential facility. In 2006, its golfing property units were sold out quickly and generated RMB3.5 billion with an average selling price of RMB40,000 per sq metre. m.
Since 2002, Dr Chu has been promoting the development of China’s lifestyle and recreational industry at the National People’s Congress (NPC) as a prime solution to boost domestic demand and promote urbanization. At this year’s NPC meeting, Dr. Chu reiterated the importance of leveraging Hong Kong’s competitive advantage in the high-end service industry to forge economic cooperation between Hong Kong and China. |