Standard Chartered, PCCW, HKT and Ctrip established a strategic joint venture to deliver a new standalone digital retail bank in Hong Kong. The joint venture will be conducted under a new entity, which was granted a licence to operate a virtual bank in Hong Kong by the Hong Kong Monetary Authority.
FWD expanded its business into Malaysia after acquiring a 49% stake in HSBC’s Amanah Takaful (Malaysia).
FWD announced the acquisition completion of AIG Fuji Life Insurance Company.
PCCW Media launched its first free TV channel in Hong Kong, ViuTV 99, in April 2016.
PCCW Media acquired VuClip, a leader in mobile video for emerging markets and launched Viu in March 2015. Viu’s over-the-top (OTT) multi-screen video service was launched in October 2015 in Hong Kong and extended to Singapore, Indonesia, Malaysia and India in 2016.
HKT completed its acquisition of CSL New World Mobility in May 2014, and became the largest wireless service provider in Hong Kong.
PCG acquired insurance company ING Groep N.V.’s Hong Kong, Macau and Thailand insurance business and rebranded it to FWD. FWD has since expanded its operations into Indonesia, the Philippines, Vietnam and Singapore, offering life insurance across its markets.
PCG acquired the asset management business of American International Group, Inc., and renamed it to PineBridge Investments. As of September 2016, PineBridge manages US$82.6 billion through its global network.
Richard Li launched via PCCW the world’s first major IPTV service, nowTV. Today it is the world’s largest commercial deployment, accounting for a fifth of all IPTV subscribers worldwide. nowTV provides nearly 200 channels and is the largest pay-TV operator in Hong Kong.
PCCW’s IT service business, PCCW Solutions, won the contract from the Hong Kong government to develop Smart Identity Card System in 2002. The System won multiple international recognition and awards, and has been widely adopted by Hong Kong citizens.
PCCW acquired Cable & Wireless HKT, formerly known as The Hong Kong Telephone Company Ltd., and formed the company with businesses in telecommunications, media, IT solutions, property development and investment, and other businesses.
Richard Li developed Cyberport to raise awareness of technology’s role in Hong Kong’s economy. Today, it is home to 60 commercial organizations including Microsoft and IBM, as well as more than 25 start-ups.
Pacific Century CyberWorks (PCCW) is founded, and was later renamed to PCCW Limited.
Using proceeds from the sale of STAR TV, Richard sets up his own Asia-based private investment group, Pacific Century Group (PCG). Today, PCG’s main investments stem across three core pillars in financial services, technology, media & telecommunications and property. PCG operations currently span across the globe but is primarily based in the Asia-Pacific region including Singapore, Hong Kong and Japan.