The Company is headed by Peter Lam Kin Ngok, son of the founder, who also runs the Media Asia Entertainment Group.
Lai Sun Development, then already under the management of Peter Lam, paid HK$7 billion for Furama Hotel Enterprises in June 1997.
[4] In March 2000, LSD announced that a 65% stake in the Furama would be sold to a 50:50 joint venture between Pidemco, controlled by Temasek Holdings, and AIG for HK$1.88 billion.
[5] As part of the deal, Lai Sun would continue to operate the hotel until its redevelopment, at an annual rental of HK$145 million.
The project to redevelop the 14,900 sq ft (1,380 m2) site as an office tower, due to complete in 2011, will be partly occupied by the CCB.