Fung eyes Chinese market with Aquis Queensland resort

    Published in: Latest IntelligenceHaving received clearance from the Australian Competition and Consumer Commission, plans for the Aquis Great Barrier Reef Resort are full steam ahead. Yesterday a group of investment bankers from Beijing were hosted aboard the new corporate AQUIS Boeing 757 to review plans for the mega resort in Cairns.Justin Fung, son of Hong Kong billionaire Tony Fung, comes from an investment family dynasty. His grandfather was the legendary broker Fung King-hey and his father, Tony, became chairman of his company Sun Hung Kai Securities, when the elder Fung passed away.Now Fung is looking at perhaps his biggest investment challenge to date. He is seeking a license to build an A$8.15 billion ($7.6 billion) integrated resort, one of the world’s largest, in Queensland, Australia. The state government there is offering up three licenses — two regionally and one in downtown Brisbane — in an attempt to boost tourist...

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