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pursuit_magic_img.jpg Magic Touch

Hong Kong Disneyland Managing Director Andrew Kam Min-ho is presiding over a crucial phase of expansion at the Magic Kingdom, bringing story-telling, creativity and technology to provide more thrilling encounters for children and young adults.

“Per-in-cess!” swoons the little girl in pink tulle, noticing her heroine standing in the crowded foyer. Her skirt fluttering, she rushes to join others like her oohing and aahing Beauty and the Beast’s raven-haired Belle, and the oh-so-blonde Sleeping Beauty. It’s 10.15am on a Monday at the Disneyland Hotel. The décor is classic Victorian with a touch of Mickey Mouse. For these girls, it is a fairytale land where they live their dreams, but for the people behind the theme park, it has been less rosy.

Andrew Kam Min-ho came to the fabled company in August 2008, following regular turnover in the position previously. Kam was the fourth to become managing director in the 35 months after Don Robinson, Bill Ernest and Dave Vermeulen. Kam’s mandate was to turn an unappreciative audience into Disney fans, at that point. Then, as now, it remains a challenge.

The theme park has drawn collective boos from the public and the media since it was announced. Ambitious plans were scaled down and since then the world’s smallest Disney, with 315-acres, has been constantly criticised for inadequate attractions. A sales blunder soon after opening and one that stopped a prime audience – mainland Chinese ticket holders – from entering the park at peak times caused further embarrassment. Earnings have been below projections every year since its gilded gates opened.

Taking the lead at Hong Kong Disneyland must have seemed less a trip to Never Never land and more a ride into the rocky rapids.

“My friends said to me, ‘Wow! It’s a hotseat,’ ” says Kam, laughing, soon after we meet him at Disneyland Hotel. The ever-smiling executive blends in to his role with ease.


pursuit_distinction_img.jpg Stamp of Distinction

For some luxury property buyers for whom a life of glamour is second nature, an award-winning designer has created distinctive apartments and furnishings at a Macau project.

For the past 15 months, the Macau property market has been on a slow boat with many hotel and resort projects suspended, cancelled and mothballed. To build or not to build continues to be a question for many developers and investors.

Now Sniper Capital, an Asia-based British managed property investment manager, is bringing the concept of luxury accommodation to Macau with The Waterside, while another historical-turned-residential project at the Penha Hill will add to its diverse asset portfolio in the summer.

Sniper Capital purchased Tower Six in One Central Residences, which sits next to the MGM Grand Macau, and repackaged it as The Waterside with only 59 apartments (ranging from 2,270 square feet to 4,740 sq ft as well as two duplexes and three simplexes) available for lease. The company stresses world-class interior design and furnishing thanks to Yasumichi Morita. This is on top of what it says are personalised guest services.


pursuit_capital_img.jpg Capital Call

Through a dual primary listing, mobile phone maker and solutions provider Z-Obee Holdings is tapping the market for capital in an environment where many other stocks appear to offer better gains.

Buy calls are out on some property counters in the wake of recent launches of flats in the New Territories with bewildering price tags of an average HK$5,400 per square foot.

Brokers are calling out the names of heavyweight real estate developers such as Sun Hung Kai (0016). The US Federal Reserve chief Ben Bernanke’s remarks to Congress in the last week of February that interest rates – the federal funds rate – will stay low for “an extended period’’, as well as the recent public land auction in the city have added fuel to the real estate fire in Hong Kong.

Even as the Hang Seng Index fell on the last Thursday of February, property counters went the other way with Sino Land (0083), New World Development (0017), and SHK gaining.

There are buy calls on a variety of other stocks as well. Macquarie Equities analysts Lisa Deng and Gary Ping are recommending Shun Tak Holdings (0242), saying there is “37 per cent upside’’ for the stock. Their target price: HK$5.75 per share. With a diverse business, Shun Tak is heavily involved in real estate, in addition to casinos and transport.


March 2010 Issue
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