Pollyanna Chu has just lost the title of "Hong Kong's richest female billionaire" as her fortune has lost more than half its value since late January.
Pollyanna Chu's assets now stand at $ 5.34 billion, down more than half from nearly $ 12 billion in January after its shares plunged. .
Earlier, in a statement dated Jan. 29, the Hong Kong Futures and Exchange Commission warned that more than 90 percent of Kingston Financial's holdings were held by about 20 shareholders as of Jan. 8. This information prompted the price of Kingston Financial stock to fall 17% in the next trading day. Since then, this stock has lost more than 50% of its value. In the fourth quarter of this year, the share price also slumped 88%.
In the trading session on March 19, the price of shares continued to fall 8.7% after the leading stock index provider FTSE Russell removed this type of stock indexes. It is also the worst Asian stocks in the MSCI Group. from the beginning of the year to now.
According to analyst David Webb, Kingston Financial, a Macau-based casino and margin trading company founded by Zhou in 1992, depends largely on finance for loans. cheap assurance provided by Ms. Chu and her family.
Much of Zhou's assets come from the casino business in Macao. This sector currently accounts for the majority of Kingston Financial's revenue. According to the company's 2017 financial statement, its revenues from its casino and hospitality business are HK $ 670 million, accounting for 23% of total revenue.
Zhou also joined Li Ka-Shing's billionaire company in buying a Hong Kong property worth HK $5.2 mil Ms. Zhou holds a 17% stake in the deal.
Currently, Hong Kong's richest female billionaire is Pansy Ho, daughter of casino mogul Stanley Ho, with $ 5.99 billion in assets. Following was the president of Nan Fung Group - Vivien Chen, who owned $ 5.9 billion in assets.
Pollyanna Chu's assets now stand at $ 5.34 billion, down more than half from nearly $ 12 billion in January after its shares plunged. .
Earlier, in a statement dated Jan. 29, the Hong Kong Futures and Exchange Commission warned that more than 90 percent of Kingston Financial's holdings were held by about 20 shareholders as of Jan. 8. This information prompted the price of Kingston Financial stock to fall 17% in the next trading day. Since then, this stock has lost more than 50% of its value. In the fourth quarter of this year, the share price also slumped 88%.
In the trading session on March 19, the price of shares continued to fall 8.7% after the leading stock index provider FTSE Russell removed this type of stock indexes. It is also the worst Asian stocks in the MSCI Group. from the beginning of the year to now.
According to analyst David Webb, Kingston Financial, a Macau-based casino and margin trading company founded by Zhou in 1992, depends largely on finance for loans. cheap assurance provided by Ms. Chu and her family.
Much of Zhou's assets come from the casino business in Macao. This sector currently accounts for the majority of Kingston Financial's revenue. According to the company's 2017 financial statement, its revenues from its casino and hospitality business are HK $ 670 million, accounting for 23% of total revenue.
Zhou also joined Li Ka-Shing's billionaire company in buying a Hong Kong property worth HK $5.2 mil Ms. Zhou holds a 17% stake in the deal.
Currently, Hong Kong's richest female billionaire is Pansy Ho, daughter of casino mogul Stanley Ho, with $ 5.99 billion in assets. Following was the president of Nan Fung Group - Vivien Chen, who owned $ 5.9 billion in assets.
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