Group Profile
| 1986 | Evergo Holdings Company Limited (formerly Evergo Industrial Enterprise Limited) headed by Mr. Joseph Lau, Luen-hung, acquired 43% of the shares of the Group and became the majority shareholder. |
| 1987 | The Group acquired Paul Y. Construction Company, Limited ("Paul Y. Construction") and China Entertainment Strategic Investments Limited ("CESIL") through China Entertainment and Land Investment Company, Limited ("China Entertainment"). The Group acquired the then Entertainment Building for HK$400 million from China Entertainment in June. The Group acquired Windsor House in Causeway Bay and Harcourt House in Wanchai, both being first class commercial buildings, for an aggregate consideration of HK$2,399 million from Hongkong Land Co. Ltd in December. The Group also acquired the head lessee's interests of Fleet House (renamed MassMutual Tower in June 2000) in Wanchai. |
| 1988 | The Group diversified its property interests to Mainland China through the participation in the development of Oriental Arts Building Complex in Beijing, PRC. By 1996, the Group had interests in 23 property investment and development projects in 12 cities in China and had established 4 representative offices in Beijing, Shanghai, Fuzhou and Guangzhou, PRC. |
| 1989 | The Group re-domiciled to Bermuda in July. |
| 1990 | Paul Y. Holdings Company Limited and Superford Financial Holdings Limited, the respective holding companies of Paul Y. Construction and CESIL, merged under Paul Y. International Group Limited ("Paul Y. International") and their listings were replaced by Paul Y. International. |
| 1991 | The construction business under Paul Y. Construction was sold. The Group acquired Silvercord shopping arcade in Tsimshatsui and the sub-lessee's interests in Fleet House in Wanchai. The Group signed a joint venture contract for the development of Legend Garden Villas in Beijing, a luxury residential development with ancillary commercial, carparking and recreational facilities, which was completed in 1993. |
| 1992 | Paul Y. International and China Entertainment and Land Investments Holdings Limited (which was the holding company of China Entertainment) were privatised. The Group expanded its property business in the PRC. |
| 1993 | The Group merged with its holding company by privatising the holding company and turning it into a wholly-owned subsidiary of the Company. Redevelopment of Entertainment Building into a 32-storey prime and prestigious commercial building was completed in July. The quality and design of Entertainment Building earned the Hong Kong Institute of Architect's Silver Medal Award for the most outstanding architecture of 1993. Renovation of the first fifteen floors of Windsor House into retail space, named "The In Square", was completed in October to become the first elite Ginza type shopping arcade in Hong Kong. |
| 1996 | The Group, as part of a consortium together with three other public listed companies, was awarded in February the redevelopment right by the Land Development Corporation (Urban Renewal Authority as its successor) for a site in Wanchai. The Group had 40% interest in the consortium which was subsequently increased to 83% attributable interest. The Company demerged Evergo China Holdings Limited ("Evergo China") from the Group by successful separate listing of Evergo China in November. Immediately after the listing, Evergo China remained as a subsidiary of the Group and became the Group's PRC properties vehicle for property development and investment in the PRC. |
| 1997 | The Group issued US$336,420,000 Guaranteed Floating Rate Notes due 2002 and borrowed US$83,580,000 revolving term loan facility in March. The Group acquired 34.65% interest in the development project of Hong Kong New World Tower in Shanghai, PRC. The Group disposed of Entertainment Building for HK$3,640 million in May. |
| 1998 | The Group, through a 50:50 joint venture vehicle, acquired around 64.29% interest in a listed company, The Kwong Sang Hong International Limited ("Kwong Sang Hong") in January. |
| 1999 | HK$1,821 million commercial mortgage-backed securities relating to Windsor House, which was the first securitisation issue to be wholly denominated in Hong Kong dollars and rated "AAA", were issued in November. The Group disposed of its entire 15% interest in Linfield Properties Limited, which was interested in four PRC development projects through investments in joint ventures in the PRC, to HK-listed Sino-i.com Limited ("Sino-i") (formerly known as South Sea Development Company Limited), satisfied by HK$37.5 million convertible loan notes issued by Sino-i. |
| 2000 | The interest held by the 50:50 joint venture vehicle in Kwong Sang Hong was reduced to 53.52% in July after three share placements. The Group acquired 66.89% interest in a HK-listed property company, Chi Cheung Investment Company, Limited ("Chi Cheung") in November. |
| 2001 | The interest held by the Group in Chi Cheung increased to 72.68% after the creditors of Chi Cheung exercised their put options pursuant to the scheme of arrangement of Chi Cheung and a share placement in May. Evergo China was privatised by the Company in November. |
| 2002 | The Group further acquired 7.6% direct interest in Kwong Sang Hong in January and February 2002. |
| 2003 | The Group acquired Tung Ying Building in Tsimshatsui and Tung Sang Building in Wanchai. The interest held by the Group in Chi Cheung decreased to 71.94% in November after an asset transaction with Chi Cheung and a special dividend by way of distribution in specie by the Company. The Group acquired 57.56% interest in a HK-listed company, G-Prop (Holdings) Limited ("G-Prop") in November. The acquisition and restructuring were completed in January 2004. |
| 2004 | The Group further acquired 2.38% direct interest in Chi Cheung in January 2004. The total interest in Chi Cheung increased to 74.32%. |
| 2005 | The Group was awarded in January the redevelopment right by the Urban Renewal Authority for a site at Reclamation Street and Arran Street in Mongkok. Upon the completion of privatisation of Kwong Sang Hong in February, the interest of the Group in Kwong Sang Hong increased from 34.36% to 50%. The interest held by the Group in Chi Cheung was reduced to 61.93% in February after share placement of Chi Cheung. The interest held by the Group in G-Prop was reduced to 50.10% in February after share placement of G-Prop. Listing and permission to deal in certain Zero Coupon Convertible Bonds due 2010 became effective on 21st April, 2005. |
| 2006 | The Group acquired 5 parcels of adjoining land in Taipa, Macau (70.01% interest) for property development purpose. The Company has adopted new corporate governance measures as detailed in the 2005 annual report of the Company to further safeguard and protect the interests of the Company and its shareholders. Mr. Ming-wai Lau was appointed as an executive director of the Company in December 2006. The Group acquired two pieces of residential land at Dongda Street of Jinjiang District and Yingbin Road of Jinniu District at Chengdu PRC, having site area of 194,410 square feet and 795,625 square feet respectively. |
| 2007 | The Group obtained a commercial and residential land at South Taisheng Road of Qingyang District at Chengdu PRC, having site area of 404,264 square feet. The interest held by the Group in G-Prop was reduced to 34.99% in June after share placement of G-Prop. Withdrawal of listing of the Zero Coupon Convertible Bonds due 2010 with effect from 30th August, 2007. The interest held by the Group in G-Prop was diluted to 13.69% in October after allotment and issue of new shares of G-Prop. |
| 2008 | After acquisition of shares of G-Prop in February, and mandatory unconditional cash offers by the Group for all the issued shares and convertible bonds of G-Prop which closed in May, the Group held 50.20% of shares of G-Prop and convertible bonds issued by G-Prop in the principle amount of HK$108 million. |
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