Hong Kong Diaries: Cool IT, Hot Music Labels and Real Estate Paradise

All drivers of Asian economic miracle were in the spotlight on June 4. Early morning started at CyberPort, investment project of Hong Kong government worth of US$2 billion and home for the biggest IT companies. Innovation and R&D are located in the one of the best areas of Hong Kong.

Hong Kong is also a hometown for the biggest classical music label. Naxos Music Labels founded in 1985 currently holds up to 40% market share of classical music records in the US, Germany, Sweden and Japan. Romance is at heart of the business, as Mr. Heymann, Founder & Chairman of the Company started business for his wife, a well-known Japanese cello player. He launched CDs with classic music, a segment which was vacant at that time. He recorded Bratislava symphonic orchestra, bought rights and sold them at the price of vinyl discs that was much cheaper then CD at that time. Currently the Company expands its activities in the internet which has become the main source of its revenues.

In the early afternoon Mr. Anthony Leung, Managing Director for FEDEX Hong Kong hosted MIM’s visit to the Company. HR management was the focal point of the discussion because people do make difference. Due to the career opportunities the best talent is retained within the Company. As a result 90% of the FEDEX Hong Kong top management built their careers within the Company. Another advantage of the Company is innovations in logistics. FEDEX was the first which introduced hub system and with the new hub in Shenzhen the Company does all shipping in Eastern Asia, China and Japan. FEDEX also takes corporate social responsibility issues close to its heart. Not long ago the Company substituted most of its aircraft fleet for the newer, ecologically friendlier and more cost-efficient models and started to operate the tracks with hybrid engine.

Late afternoon was a revelation for the group. Mr. Nigel Smith, Director for Coldwell Banker Richard Ellis (CBRE)hosted a discussion about real estate, a booming industry in Hong Kong. Last year was a pitfall for real estate market in Hong Kong, but this year the market is 50% up. Office spaces prices in Hong Kong are the second highest in the world. The situation in the market made Ukrainian developers jealous. But the reason is very simple – China practically did not suffer global crises thus real estate market is just within the trend. 

On the week-end and on Monday the group took very practical classes in hospitality business Macau style.