RIYADH, 23 May 2007 — Prince Alwaleed bin Talal, Chairman of Kingdom Holding Company (KHC), received at his office recently Frederick S. Ma, secretary for Financial Services and the treasurer for the Government of the Hong Kong Special Administrative Region, and his accompanying delegation.
The meeting was also attended by Ahmad bin Fahad Altobaishi, Alwaleed’s assistant executive and Nahla Alanbar, Protocol Department manager. KHC said in a statement on Monday that Ma invited Alwaleed to visit again Hong Kong and invest there in light of its strong economy. Alwaleed visited Hong Kong last month.
They also discussed Hong Kong’s open market economy and its efforts to attract foreign investors especially in the hotels and banking sectors. The delegation stressed the importance of Alwaleed’s investment in Hong Kong “during this particular period of time.”
Moreover, the visiting delegation presented potential investment projects to Alwaleed in Hong Kong in an effort to attract partners and privatize companies. One example is the privatization of the Bank of China (BOC) where Alwaleed had signed an agreement for a $2 billion strategic offer or 2.7 percent in BOC’s IPO through Al-Azizia Investment Company, the company statement said.
Ma also commended Alwaleed on his global investments in many sectors.
In response, Alwaleed thanked the delegation and said Hong Kong’s strong economy attracts many businessmen to invest there.
Alwaleed also highlighted the good bilateral relations between Saudi Arabia and Hong Kong, noting his investment in the hotel sector there through Fairmont Raffles and Four Seasons Hotels and Resorts.
