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| Dah Sing Group Chairman David
S. Y. Wong |
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Any lingering apprehension that remains regarding Hong Kong’s political and economic stability can now be completely dismissed.
“Twelve years ago, Hong Kong’s industrial base was thought to be facing a sunset scenario, but I certainly saw things differently,” recalls Dah Sing Group Chairman David S. Y. Wong about post-hand-over fears in 1997.
“In the early 80s, we survived a very severe banking crisis in Hong Kong. At that time, seven banks
in critical condition were under the government’s intensive care. I told myself: It’s either I sell out
or, with the help of my colleagues like Derek Wong (Dah Sing Group managing director), we could buy two of these banks,” continues Wong about one of his boldest business decisions years before.
In 1987, the Dah Sing Group acquired the Hong Kong Industrial and Commercial Bank and five
years later, the Wing On Bank, catapulting the conglomerate to the top of the region’s economy.
Aside from operating several businesses with manufacturing-based companies in the Pearl
River Delta, Dah Sing has been recognized as one of the most progressive and innovative financial
service groups in the region, as well as in neighboring Macau and mainland China.
“We are a pioneer in the development of consumer banking, SME lending and bank assurance
sectors among the midsize financial services groups in Hong Kong, and this culture of innovation and progress has been fundamental to the growth of the Group’s business,” the chairman says.
With over 1 million credit cards issued, Dah Sing Bank is one of Hong Kong’s leading credit card
issuers and most active affinity card issuers with brands such as ANA airlines, Hello Kitty and
APITA YUNI department stores.
And because of its partnership with Mitsubishi Tokyo–UFJ Bank, Dah Sing is able to offer full retail
banking services to all visiting customers of the Japanese bank.
With the closer integration of Hong Kong, Macau and Guangdong Province and the construction
of a new bridge between Zhuhai, Macau and Hong Kong, the growth of the Pearl River Delta
will clearly benefit Dah Sing, which also has subsidiaries in Guangdong and Shanghai.
“We see the future, the grand picture. We see a rising sun,” says Wong.
www.dahsing.com |