A pioneering father who helped put Macao on the map
Updated: 2017-06-30 06:44
By Sophie He in Hong Kong(HK Edition)
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Being born with a silver spoon in one's mouth - is it destined to bring riches and fame?
To Pansy Ho Chiu-king - the billionaire businesswoman and daughter of Macao casino magnate Stanley Ho Hung-sun - her father does hold great sway over her. From him, she has learned to step out of her comfort zone and seize the opportunities.
She calls her father a pioneer as he was the first Macao entrepreneur who didn't mind taking on new business ventures and did not stay put in his comfort zone.
"As you may know, my father had been in business in Macao since the days when he had to leave Hong Kong during the war (in the 1940s). I think that's his destiny and his relationship with Macao. But, afterward, he did come back to Hong Kong and, in fact, Hong Kong was the base of his business," says Ho.
She recalls that when opportunities presented themselves in the 1960s, when the Portuguese government wanted to create and regulate the gaming industry to lift Macao's tourism, her father, with no experience in this particular field, had the vision and understanding that, at that time, the emerging middle class in Hong Kong and Macao would support a market for tourism and entertainment.
With a very macro perspective, Stanley Ho went for it and had to do everything from the ground. And, it wasn't the easiest business to go into. People might think it's just a gold mine, but it was actually hard work, she says.
According to Pansy Ho, her father started off with real estate, making his first bucket of gold by building residential and commercial projects. "He could have just stayed on and continued, and I'm sure he could have been just as successful."
"For me, with this unique background, of course, it's a great blessing. At the same time, I've to step in and try to maintain this significant portfolio and legacy. Of course, it'll be a challenge."
She recalls her father having had his moments, and she should learn from him. Now, another historic moment has appeared as Macao begins to make a substantial mark on the Chinese mainland.
"I want to continue following in the footsteps of my father and contributing to this economy," she says.
Ho says she wouldn't tell anybody to pick just one particular area to focus on, and admits the pure thought of going into business just didn't occur to her in her childhood.
"I had always been very good in history, geography, culture, anthropology. So, I wasn't made out to be a businesswoman. If you look at my report card, you might speculate that, one day, I might become an archaeologist or arts curator which would more likely be my specialty."
But, after consulting with her family, her father told her the world was entering a new era in the 1980s, with women becoming more acceptable in the commercial world, and her father wanted her to learn more about business.
So she took the advice and chose business studies as her major, but she didn't want to give up other fields she was interested in, so she took a double major.
The end result was a Bachelor's degree in marketing and international business management from the University of Santa Clara in the United States.
"On one hand, I've fulfilled my parents' wishes and, on the other, I continue to pursue my own interests. Half-way down the line, I realized there was no collision among them because, at the end of the day, learning business is not just about making money, it's about organization, learning how to organize things."
(HK Edition 06/30/2017 page7)