Singapore-based asset management firm establishes first overseas office in Hong Kong
Invest Hong Kong (InvestHK) announced today (January 7) that Singapore-based asset management firm, Paragon Capital Management, has opened its first overseas office in Hong Kong, leveraging the city's strategic position to act as a crucial bridge to connect clients across North Asia and Southeast Asia.
Associate Director-General of Investment Promotion Mr Arnold Lau said, "We are delighted that Paragon Capital Management has chosen Hong Kong for its first overseas expansion. Hong Kong's position as an international financial centre is widely recognised; it is also the largest international asset management hub in Asia. The city is an ideal place for Paragon Capital Management to expand in the region. We wish it every success in Hong Kong and beyond."
The Chief Executive Officer of Paragon Capital Management (HK) Private Limited, Mr Arthur Fong, said, "As Hong Kong has risen to third place globally in the Global Financial Centres Index, we strongly believe that our team in Hong Kong will provide clients with a globalised and diversified platform to preserve and grow their wealth. We are eager to actualise the robust investment opportunities that will come from the synergy between Hong Kong and Singapore."
He added, "Hong Kong is the world's second largest cross-border wealth management hub and its crucial position as the gateway to the expansive Guangdong-Hong Kong-Macao Greater Bay Area market offers promising opportunities for our growth and expansion."
Paragon Capital Management is a boutique asset management firm that provides investment solutions and wealth management services to accredited investors. Paragon Capital Management Hong Kong is regulated by the Securities and Futures Commission and is licensed to carry out Type 4 (Advising on Securities), and Type 9 (Asset Management) regulated activities, subject to the applicable licensing conditions.
For more information about Paragon Capital Management (HK) Private Limited, please visitparagoncapital.hk/.
For a copy of the photos, please visit www.flickr.com/photos/investhk/albums/72177720323011829.
Singapore-based asset management firm establishes first overseas office in Hong Kong Source: HKSAR Government Press Releases
Singapore-based asset management firm establishes first overseas office in Hong Kong Source: HKSAR Government Press Releases
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport
Hong Kong Customs yesterday (May 9) detected a drug trafficking case involving passenger at Hong Kong International Airport and seized about 2.25 kilograms of suspected heroin, four tablets of suspected Viagra and 26 sticks of duty-not-paid cigarette, with a total estimated market value of about $1.4 million. A man was arrested.
A 61-year-old male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia yesterday. During customs clearance, Customs officers found a total of about 2.25 kg of suspected heroin in his check-in suitcase, and four tablets of suspected Viagra and 26 sticks of duty-not-paid cigarette in his carry-on backpack. The man was subsequently arrested.
The arrested person has been charged with one count of trafficking in a dangerous drug, one count of possession of Part 1 poison, one count of possession of dutiable goods and one count of failing to declare to a member of the Customs and Excise Service the possession of dutiable goods. The case will bebrought up at the West Kowloon Magistrates' Courts tomorrow (May 11).
Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.
Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Under the Pharmacy and Poisons Ordinance, any person who possesses any poison included in Part 1 of the Poisons List other than in accordance with provisions commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for two years.
Under the Dutiable Commodities Ordinance, any person who imports, possesses, sells or buys dutiable commodities without a valid licence commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.
Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases
Hong Kong Customs detects drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases
