Saturday, December 21, 2013

Cut & Paste?

The Cairns Post has today published an insight into the family behind the Aquis Casino proposal: Who are the Fungs? Meet the private family behind the Aquis mega-resort and casino proposal at Yorkeys Knob

His substantial fortune was inherited from his father Fung King Hey, known as "the godfather of traders", a billionaire who was at one time the largest shareholder in the world's largest stock brokerage firm, Merrill Lynch.
He also founded Sun Hung Kai Securities.
Fung King Hey made his fortune in tandem with his two business partners, Kwok Tak Seng and Lee Shau Kee.
The partners were the best of friends and were widely known in China and Hong Kong as "the three musketeers".
Their children also became the best of friends.
- Nick Dalton, The Cairns Post,  December 21


Which appears to correlate with a recent post at the idiosyncratic Archie Butterfly blog: Hong Kong Tony’s Greatest Hits: Volume One – Hong Kong Tony, the Kwok Brothers, Noah’s Ark and the Cops
Hong Kong Tony Fung is not a self-made man. His substantial fortune was inherited from his father Fung King Hey, known as ‘the godfather of traders’, a billionaire who was at one time the largest shareholder in Merrill Lynch.
Fung King Hey made his fortune in tandem with his two business partners Kwok Tak Seng and Lee Shau Kee. The partners were the best of friends and were widely known in China and Hong Kong as ‘the three musketeers’. Their children also became the best of friends. 
- Archie Butterfly, December 10


Hey, what's a few paragraph changes here or there ....... or has the true identity of Archie Butterfly been revealed?


Update: The account at The Post of  Tony Fung as both "intensely private" and a "high-profile investor from Hong Kong" is a curious contradiction. There doesn't really seem to be a wealth of public information available beyond his well known family business background, and descriptions as a "billionaire" seem almost entirely related to news reports on Aquis. I can't find him listed anywhere at Forbes as a billionaire or among Hong Kong's 50 richest? Perhaps the complexities of Chinese family nomenclature have me bamboozled?

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