Adrian Cheng Chi-kong has launched a new business focused on “transformative industries”, including culture and healthcare, nearly three months after the third-generation scion of New World Development (NWD) left the company.
His new enterprise, ALMAD Group, will target markets in Southeast Asia and the Middle East, as well as mainland China, with a mission to break “boundaries in digital and virtual assets”, it said in a statement. The group owns the “K11 by AC” brand.
“We are living in an era of profound change in the global economy, where new frontiers are emerging at an unprecedented pace,” the 45-year-old entrepreneur said in the statement.
“We are determined to build ALMAD Group as a movement propelling this shift, investing in transformative industries in emerging markets such as Asean and the Middle East, while advancing globally in digital assets and cultural industries.”
Apart from culture and healthcare, Hong Kong-based ALMAD’s operations also cover entertainment, sports, media, commercial management and cultural tourism.
“Our mission is clear: to build what the next generation needs and to shape a future economy filled with possibilities,” Cheng, the former executive vice-chairman and CEO at NWD, said.
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