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Timmy Sung

Despite the recent drop in mainland travellers to Hong Kong, the granddaughter of property tycoon Lee Shau-kee is upbeat about Henderson Land's shopping mall business in the New Territories.
Kristine Li Keng-yan, assistant general manager of the portfolio leasing department, said the number of customers jumped 40 per cent year-on-year after the Kolour shopping centre in Yuen Long was renovated.
The revamp was the first project she took charge of after joining the property empire two and a half years ago.
Li is the first grandchild of 86-year-old Lee. She joined the family business in 2012.
A graduate of international relations from Stanford University, she rotated through different departments in the company to familiarise herself with the group's businesses.
"It is a family business, so the pressure is there to push me to do the best, and my family has also been very supportive," Li said. "My grandfather has given me lots of valuable advice."
At the Kolour shopping mall, square foot rental was increased 35 per cent, to between HK$70 and HK$400, after the refurbishment. This brought 80 per cent higher turnover than three years ago, she said.
Yuen Long, in the northwest New Territories, has been popular with Shenzhen shoppers. But Li believed the fall in mainland visitors would pose no threat to the business.
"Yuen Long Kolour targets consumers in the district. So no matter how the number of tourists changes, it would not affect the mall," Li said.
She noted rival Sun Hung Kai Properties also plans to open new shopping centres in Yuen Long in the near future. "More competition is good and we will stay competitive," she said. "But I am not worried, because our target customers and positioning are different."
She said the Tsuen Wan Kolour centre will also receive a major facelift, which is expected to be completed by the end of next year. The two projects cost more than HK$200 million.


Hong Kong tycoon's first grandchild keeps malls on track