Singapore Private Wealth Manager SINO Suisse Forfeits $265 Million Deposit after Failing to Make 1st Payment of $132 Million for $2.6 Billion Purchase of Hong Kong Mid-Levels Luxury Properties from Li Ka-Shing CK Assets, Founded in 2017 by UBS Head of Global UHNW China Managing $27 Billion AUM
14th July 2023 | Hong Kong
Singapore private wealth management firm SINO Suisse has forfeited $265 million deposit (HKD 2.07 billion) after failing to make the 1st payment of $132 million (HKD 1.03 billion) for the $2.6 billion (HKD 20.8 billion) purchase of Mid-Levels 152-units luxury residential development (21 Borrett Road) from Li Ka-Shing CK Assets. In 2022 (28/9/22), SINO Suisse had acquired the $2.6 billion property via ORIC-Borrett Limited (fund) from CK Assets. The $265 million deposit (HKD 2.07 billion) represents 10% of the purchase price. CK Assets: “The Board announces that the Purchaser has failed to pay the first Part Payment in the amount of HK$1,038,309,300 and the accrued interest thereon in accordance with the terms of the Sale and Purchase Agreement. Despite the parties’ attempts to address the default through discussion on a without prejudice basis, no resolution has been reached. Accordingly, on 13 July 2023, the Sale and Purchase Agreement was terminated with immediate effect by a termination notice given by the Vendors to the Purchaser and the Deposit in the amount of HK$2,076,618,600 paid by the Purchaser was forfeited by the Vendors pursuant to the Sale and Purchase Agreement. The Disposal and the provision of the Purchaser’s Loan as contemplated under the Sale and Purchase Agreement will therefore not proceed.” SINO Suisse is founded in 2017 by Albert Liu (CEO), who was the former UBS Head of Global UHNW China managing $27 billion AUM. Albert Liu had spent 19 years in UBS, and a total of 25 years in private banking.
“ Singapore Private Wealth Manager SINO Suisse Forfeits $265 Million Deposit after Failing to Make 1st Payment of $132 Million for $2.6 Billion Purchase of Hong Kong Mid-Levels Luxury Properties from Li Ka-Shing CK Assets, Founded in 2017 by UBS Head of Global UHNW China Managing $27 Billion AUM “
Singapore Private Wealth Manager SINO Suisse Buys $2.6 Billion Hong Kong Mid-Levels Luxury Properties from Li Ka-Shing CK Assets, Founded in 2017 by UBS Head of Global UHNW China Managing $27 Billion AUM
30th September 2022 – Singapore private wealth management firm SINO Suisse has bought (HKEX filing 28/9/22) a $2.6 billion Hong Kong Mid-Levels 152-units luxury residential development (21 Borrett Road) from Li Ka-Shing CK Assets. SINO Suisse is founded in 2017 by Albert Liu (CEO), who was the former UBS Head of Global UHNW China managing $27 billion AUM. Albert Liu had spent 19 years in UBS, and a total of 25 years in private banking.
Albert Liu, Sino Suisse Founding Partner & Chief Executive Officer
Albert is the founder and Chief Executive Officer of Sino Suisse, which was founded in 2017. Albert doubles up as Head of Client Advisory managing a team of experienced Client Advisors, working closely with clients on all investment-related matters, including coordinating portfolio allocation strategy and implementation. Albert is an industry expert having accumulated more than 25 years of experience in the private banking space. Prior to the establishment of Sino Suisse, Albert spent 19 years in UBS, one of the most prominent name and pioneer in the private banking space. Albert was at the helm of the Ultra-High-Net-Worth (UNHW) team as Country Team Head of Global UNHW China where he was fundamental in managing asset under management (AUM) of over US$27 billion. With Albert’s capability and expertise, he was the intelligence behind the formulation, planning, and implementation of investment strategies across multi-asset classes. Albert’ s industry knowledge spans across Technology, Media, and Telecom (TMT), Consumer goods, Real Estate, Financials, Basic Materials and Mining.
Albert has co-published many academic papers on areas of family office and multi generational succession planning in Asia. He currently sits on the National University of Singapore President’s Advisory Council, providing support and advice on the philanthropic programmes of the university. He holds a Master of Business administration (MBA) degree from the Rochester Bern Executive MBA Program and is currently pursuing Global Finance PhD at Tsinghua University School of Finance.
Sino Suisse
Founded in 2017 and based in Singapore and managed with a partnership structure and culture. As a Capital Markets Services License (CMS 100660) holder, we adhere closely to stringent compliance regulations and requirements by the Monetary Authority of Singapore (MAS) and uphold high standards of integrity. We provide investment advisory, portfolio management, and wealth planning services to ultra high-net-worth individuals and families. We endeavor to generate optimal risk-adjusted returns for their portfolio. We believe the key factors to stellar investment performance often results from a robust and rigorous investment process. At Sino Suisse, we adopt a comprehensive 6-step investment framework. We believe at the heart of every good investment portfolio; asset allocation is of paramount importance.
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