Top Seller of Prepaid SIM Cards to Filipinos in HK Goes Public in Stock Exchange

Philippine Consul General Antonio A. Morales and HK Asia Holdings Ltd Chair Siu Muk Lung (3rd and 2nd from left) are flanked by Deputy Consul General Roderico C. Atienza and Mr Siu’s spouse at a dinner reception held on 27 September 2018 at the Island Shangri-La to celebrate the IPO of the top seller of pre-paid products to almost 400,000 Filipinos and Indonesians in Hong Kong. (Hong Kong PCG photo)

HONG KONG 10 October 2018 – The leading seller of prepaid SIM cards and top-up (prepaid load) vouchers to almost 400,000 Filipinos and Indonesians living and working in Hong Kong went public at the Hong Kong Stock Exchange (HKEX) on 27 September 2018, with an initial public offer of 10 million shares priced at HK$1.30 each.

The HK Asia Holdings Limited (stock code: 1723), led by its chairman, Siu Muk Lung, invited consular representatives of the Philippines and Indonesia to the ceremonial opening of the trading day at the HKEX Connect Hall.

Deputy Consul General Roderico C. Atienza represented the Philippine Consulate General while Customs Attaché Imik Eko Putro represented the Indonesian Consulate General at the listing ceremony.  Later in the day, Mr. Siu hosted Consul General Antonio A. Morales together with hundreds of other guests in a celebratory dinner reception at the Island Shangri-La.

At the ceremony, Mr. Siu said he owed his success to the more than 230,000 Filipino and 160,000 Indonesian workers, who work in Hong Kong mostly as domestic helpers because they are the users of his popular pre-paid products, which allows his customers to make local and international phone calls and use mobile data services.

Established in December 1995, HK Asia Holdings Ltd started offering SIM cards and top-up vouchers which became so popular it discontinued sales of mobile phones and related products in 2016. The group, composed of six subsidiary firms, now exclusively sells the pre-paid products wholesale and retail at five shops, including World Wide House in Central.

According to the market research report by Frost & Sullivan, HK Asia Holdings Ltd captured a market share of about 33.5 percent in terms of retail sales revenue in 2017 and ranked first in Hong Kong’s pre-paid products distribution market targeted at Filipinos. It also holds 24.2 percent market share, placing it at second, in the same market among Indonesians. END

For more information, visit www.hongkongpcg.dfa.gov.ph or https://www.facebook.com/PHLinHK/

Philippine Consul General Antonio A. Morales (third from left) and Deputy Consul General Roderico C. Atienza take a photo with HK Asia Holdings Ltd Chair Siu Muk Lung and his Filipino sales and distribution team at a dinner reception held on 27 September 2018 at the Island Shangri-La to celebrate the IPO of the top seller of pre-paid products to almost 400,000 Filipinos and Indonesians in Hong Kong. (Hong Kong PCG photo)

HK Asia Holdings Ltd Chair Siu Muk Lung (third from left) asks Deputy Consul General Roderico C. Atienza of the Philippine Consulate General and Customs Attaché Imik Eko Putro of the Indonesian Consulate General to take a souvenir photo with him at the ceremony marking the initial public offering at the Hong Kong Stock Exchange (HKEX), which was held at the HKEX Connect Hall located at One and Two Exchange Square in Hong Kong’s Central District on 27 September 2018. (Hong Kong PCG photo)