Peggy Sito

2 weeks ago | scmp.com | Peggy Sito |Julie Zhang

On May 16, just as US President Donald Trump wrapped up his whirlwind Gulf tour with over US$2 trillion in deals, a little-known Hong Kong fintech firm beat global rivals to bag a contract with a United Arab Emirates (UAE) bank. Evident Group, operator of a digital investment platform for alternative assets and licensed by the Securities and Futures Commission, formed a partnership with Zand Bank, the UAE’s first fully licensed digital bank.

2 weeks ago | scmp.com | Peggy Sito

By the end of the year, 11 satellite casinos in Macau will cease operations, as the government seeks an economic diversification away from gambling and into exhibitions, entertainment and technology. Satellite casinos are small casinos operated by third parties but under concessionaires’ licences. Analysts said the impact on concessionaires was “broadly neutral”, but some firms should see a more immediate increase in table yields.

3 weeks ago | scmp.com | Peggy Sito

A shortage of hotel rooms is hindering Macau’s growth, and further policy breakthroughs to facilitate the development of nearby Hengqin Island – three times the size of Macau – are needed to solve the problem, according to the chairman of Galaxy Entertainment Group. “As Macau shifts towards a more mass-market and event-focused model, the question of hotel rooms must be addressed,” said Francis Lui Yiu-tung in a briefing with Hong Kong reporters on Monday.

1 month ago | scmp.com | Peggy Sito |Danielle Eugenia Popov

Chinese companies are stepping up efforts to unlock business opportunities in the Middle East to hedge against worsening US-China trade ties, hoping to use the region as a springboard to expand into new markets in Africa and Europe. They include Hong Kong start-up NEXX Global, a logistics platform operator backed by CK Asset Holdings, and Beijing-based franchise platform operator Tojoy, according to the company officials.

1 month ago | scmp.com | Peggy Sito

Hong Kong’s dominant free-to-air broadcaster Television Broadcasts (TVB) has undergone a shift in equity holdings, with its executive chairman Thomas Hui To making a personal investment in the company. The investment secures Hui an indirect equity stake in TVB, positioning him as a major shareholder. The transaction was a “strategic move” that emphasises Hui’s “firm confidence in TVB’s sustained growth trajectory and long-term market value appreciation”, he said in a written response to the Post.