Group Profile
| 1952 | Chi Cheung Investment Company, Limited ("the Company") was incorporated in Hong Kong in November to engage in property investment and development in Hong Kong. |
| 1972 | The Company became listed in December by offering 3,500,000 shares to the public. |
| 1992 | A new management team, comprising Mr. Ng Kwok Cheung, Paul (former Chairman of the Company), the Goodwill International group and HK-listed Sun Hung Kai Properties Limited, acquired a controlling stake of the Company. In 1994, Goodwill disposed of its stake in the Company. |
| 1997 | Rapid Growth Holdings Limited (equally owned by Mr. Ng Kwok Cheung, Paul and HK-listed Paliburg Holdings Limited) became the controlling shareholder of the Company through a series of share transactions as well as a general offer. |
| 1998 | Due to the significant decline in property prices after the financial crisis, the Group recorded a substantial loss and had a negative net asset value. |
| 1999 | Attempts to restructure the Group and introduce new capital were unsuccessful. A winding-up petition against the Company was filed by a creditor in September. |
| 2000 | A financial restructuring plan was successfully implemented. As part of the restructuring program, HK-listed Chinese Estates Holdings Limited injected HK$60 million cash and development and investment properties in Hong Kong at an adjusted total value of HK$216 million into the Company in consideration of 1,987,500,000 new shares (66.9%) of the Company. The winding-up petition against the Company was then withdrawn. Following the debt restructuring, the indebtedness due to the scheme creditors was repaid as full and final settlement and the Group restored its solvency with a positive net asset value. |
| 2005 | 56,460,000 shares were allotted to the independent investors pursuant to the Placing Agreement entered into between the Company and its Placing Agent on 24th January, 2005. |
| 2008 | On 17th January, 2008, the Company entered into a conditional sale and purchase agreement with Chinese Estates Holdings Limited to dispose of shareholding interests of and loans to certain subsidiaries and associated companies (the "Transaction"). The Transaction, which constituted a very substantial disposal and connected transaction for the Company under the Listing Rules, was approved by the independent shareholders at an extraordinary general meeting of the Company held on 13th May, 2008. All conditions precedent contemplated under the Transaction were fulfilled on 30th September, 2008. The Company concentrated its business on property development and investment in Hong Kong and diversified the business to securities investment and finance. |
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