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Press Release

Hong Kong Companies Commended by Forbes for Best Practices

1999.11.11

The Hong Kong Productivity Council (HKPC) and the Hong Kong General Chamber of Commerce (HKGCC) in association with The Better Hong Kong Foundation (BHKF) jointly organized a commendation ceremony to honour eight local companies which have earned a coveted place on Forbes Global’s 1999 list of The World’s 300 Best Small Companies.

The ceremony was officiated by Mr William Adamopoulos, Managing Director – Asia of Forbes; Mr Andrew Tanzer, Pacific Bureau Chief of Forbes; Mr Thomas Tang, Executive Director, HKPC; Mr Ronnie Chan, Trustee, BHKF; and Mr Christopher Cheng, Deputy Chairman, HKGCC.

The selected companies include Caf?de Coral Holdings Ltd., Giordano International Limited, Glorious Sun Holdings Ltd., Guangdong Kelon Electrical Holdings Company Limited, Hung Hing Printing Group, JCG Holdings Ltd., Johnson Electric Industrial Manufactory, Ltd., and Varitronix International Limited. Guangdong Kelon and Johnson Electric have been elevated to Forbes’ 20 for 2000, the ultimate ‘star performers’ among the 300.

Speaking at the commendation ceremony, Mr Thomas Tang said, “These companies come from a wide spectrum of Hong Kong’s manufacturing and service sectors, including restaurants, apparel, printing, electrical equipment, financial services and electronic components.”

“The recognition by Forbes Global is indicative of the world-class performance of Hong Kong companies. As role models for Hong Kong, we believe that these companies will continue to serve as our benchmarks, setting new standards of excellence as Hong Kong thrives forward into the digital economy of the new millennium,” Mr Tang said.

Citing a letter from Mr Lawrence Minard, Editor, Forbes Global Businesses and Finance, Mr Andrew Tanzer said, “Forbes Global editors screened over 17,500 publicly-traded companies, and supplemented their computer screens by interviewing bankers, analysts and institutional investors around the world. The odds of making our list are roughly equal to the chances an American actor has of winning a Hollywood Oscar.”

Mr Ronnie Chan said, “In Hong Kong, there are 290,000 SMEs representing 98% of our businesses. They play an important and pivotal role in making Hong Kong what it is now. It is through the joint effort of our businesses, employees and investors that Hong Kong now enjoys its international stature. The Asian economic crisis has put Hong Kong on an acid test in terms of our resilience, productivity, competitiveness and vision. Hong Kong is now back on the right track.”

Mr Christopher Cheng said, “The selection of these companies by Forbes Global, a genuinely world class institution, sheds lights on two aspects. Firstly, all of the companies being commended are transnational and the attitude of reaching out is very important in ensuring Hong Kong’s continuing development as a world city. Secondly, these companies are all small and medium sized and they signify that the 300,000 companies in Hong Kong have the potential to become world class companies.”

In addition to the commendation ceremony, HKPC also organized the Power Forum on Best Practices followed by the Powerhouse Hall of Fame unveiling ceremony. The Forum was presented by CEOs of the eight companies who shared with local companies their best practices while the Hall of Fame was established by the Powerhouse of HKPC to honour outstanding achievements of local companies. The unveiling ceremony was officiated by Mr Thomas Tang; Dr Eden Woon, Director, HKGCC; and Mr George Yuen, Chief Executive, BHKF.

The Powerhouse of HKPC’s Best Management Practices Institute was established in April this year in response to the initiative of the Chief Executive of the HKSAR Government to develop Hong Kong into a regional service centre. The aim is to provide support to individuals, organizations, industries, and the community at large in a continuous learning process and benchmarking that enable them to achieve business excellence through best management practices.

 

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The Better Hong Kong Foundation is a privately funded, non-profit, non-political organization, formed by leading Hong Kong business people. The Foundation aims to reinforce Hong Kong’s role as the regional leading financial, shipping, trading and communications centre. It also serves to enhance greater international understanding between East and West. The Foundation is committed to facilitating communication between Hong Kong and China and the international community.