AMTD Group co-signs a comprehensive strategic cooperation agreement with Tewoo Group, a Fortune Global 500 company
In order to further respond and implement the comprehensive strategic cooperation agreement co-signed by AMTD Group and Tianjin municipal government in January during the World Economic Forum Annual Meeting in Davos this year, Mr. Calvin Choi, Chairman and President of AMTD Group led the senior management to visit the headquarters of Tewoo Group, one of the Fortune Global 500 and the largest state-owned material circulation enterprise in Tianjin. AMTD Group representative team engaged in discussions with Mr. Zhang Xiaoxuan, General Manager of Tewoo Group and Mr. Liu Lu, Deputy General Manager of Tewoo Group. The two parties formally signed a comprehensive strategic cooperation agreement at Tewoo Group headquarters.
Tewoo Group is the largest state-owned material circulation enterprise in Tianjin and is the first enterprise in Tianjin to enter the Fortune Global 500 List, it ranked 129th in 2017. Its business scope includes commodity trade, modern logistics, real estate development and financial services. With the signing of the comprehensive strategic cooperation agreement between AMTD Group and Tewoo Group, both parties will leverage their advantages and resources, and establish a win-win partnership through cooperation. Both parties will jointly build a comprehensive domestic and international financial service platform providing all-rounded financial services including insurance and insurance brokerage, international capital market investment and financing arrangements, financial leasing and factoring in Tianjin and Hong Kong. The platform aims to promote the development of trade, logistics, finance, and new economic industries, as well as the industrial transformation and upgrading in the Beijing-Tianjin-Hebei region, the Bohai Rim region and nationwide, and to facilitate the interconnectivity of the capital markets of Tianjin and Hong Kong.
Mr. Zhang Xiaoxuan, General Manager of Tewoo Group said: “Tewoo Group takes the ability of industry-wide integration, effective resources management, international operation and integrated service capabilities as its core competitiveness. The cooperation with AMTD Group will have further elaboration on the business model that supported by finance and trade and logistics. By utilizing the comprehensive resource advantages of the capital market, continuously optimize the Group’s existing business and assets, and continuously develop the new industry.”
Mr. Calvin Choi, Chairman and President of AMTD Group said: “As the largest fully licensed and comprehensive financial services institution in Hong Kong, AMTD Group cherishes the cooperation with Tewoo Group, and willing to be the “Super Connector” for the connection of Tewoo Group and the international capital market. The two groups have complementary advantages and the cooperation will further promote the strategic linkage and coordinated development of both parties.”
AMTD Group has maintained a long-term relationship with Tewoo Group. Senior management of both parties have repeatedly visited each other and engaged in deep conversation to explore the possibility of a win-win and innovative cooperation during the World Economic Forum Annual Meeting in Davos. Since 2017, AMTD has completed a number of transactions on the international capital market for Tewoo Group, including the debut US$450mm senior perpetual bond offering in March 2018, the US$500mm 3-year and 5-year dual-tranche bond offerings and US$500mm 359-day short-term senior bond offering in March and October 2017. Benefiting from Tewoo Group’s strong financial performance, its support from the local government, as well as its global footprint, coupled with AMTD Group’s professional services and strong underwriting ability, the capital markets transactions were well received by the international capital markets. These successful transactions are good illustrations of how AMTD connect clients to international capital markets, as well as grow together with our clients by maintaining a long-term partnership and establishing a win-win relationship.
AMTD has put great emphasis on the development of Tianjin and has continued to expand its business in Tianjin. In January 2018, during the World Economic Forum Annual Meeting in Davos, Mr. Zhao Haishan, Deputy Mayor of Tianjin, led a team from Tianjin and visited AMTD Corporate Centre. Mr. Zhao Haishan and his team had a bilateral meeting with Mr. Calvin Choi, Chairman and President of AMTD Group, and other senior management, on the cooperation of Tianjin government and AMTD Group, and signed strategic cooperation agreement at AMTD Corporate Centre in Davos. AMTD will further promote its strategic cooperation with Tianjin, especially in insurance brokerage, innovative economy, intelligent technology, talent cultivation and international capital markets.
Senior management of Tewoo Group who joined the meeting included Mr. Pang Bo, Director of General Manager Office; Ms. Yao Wenhong, Chief of Finance Department and Mr. Chen Lei, Deputy Chief of Corporate Development. Senior management of AMTD Group, including Mr. William Fung, Head of CIO Office; Ms. Emily Shi, Head of Capital Markets & Advisory; Mr. Wayne Liu, President Special Assistant; Mr. Neil Wang, President Special Assistant; Mr. Tim Fang, Co-head of Debt Capital Markets and Distribution also attended.