6/30/2015

ABlowToHongKong'sToyKingForbes

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ShuChingJeanChen,Contributor
Icoverregionalcorporatesandentrepreneurs.

8/15/2007@2:50AM

ABlowToHongKong'sToyKing
Mattel
slatestrecallhasjoltedthebusinessempireofHongKongtoytycoon
FrancisChoiCheeMing.
Thebillionaire
sEarlyLightIndustrialCo.wasnamedTuesdaybyMattel
asthesupplierofnearlyhalfamilliondiecastvehiclesfoundtocontain
impermissiblelevelsoflead,

whichcanleadtobraindamageandotherhealth
risksforchildren.

MostReadonForbes

Inadditiontothoseproducts,whicharemodeledontheSargecharacterin
themovieCars,Mattelisrecalling18.2milliontoysmadebyothersuppliers
containingmagnetsthatcouldbreakoffandbeswallowedbychildren.Itwas
thesecondrecallmadebyMattelthismonthinvolvingtoysmadeinChina
(See:
ChineseToyTerror
)andoneofthebiggesteverinthetoyindustry.
ItsfirstrecallofmorethanamilliontoysdroveaHongKongbasedMattel
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DubbedHongKong
sToyKing,Choirunsoneofthecity
sthreeleadingtoy
companies,whicharethedrivingforcebehindChina
srecentrisetobecome
theworld
stoptoymanufacturingcenter.
MattelsaidhiscompanyEarlyLightsubcontractedthepaintingofpartsofthe
CarstoystoanotherChinabasedvendor,HongLiDa.Theuseofpaint
containingleadresultedfromHongLiDa
sdecisiontosourcepaintfroma
nonauthorizedthirdpartysupplier,inviolationofMattel
srequirementforit
tousepaintsupplieddirectlybyEarlyLight.
BorninGuangdongprovince,whichbordersHongKong,Choiowesmuchof
hisriseinbusinesstoMattel.Hisearlydaysasasaleagentandmanufacturer
ofSnoopyproductsallowedhimtosetupEarlyLightInternationalHoldings
in1994,thecoreofhistoyempire.Inrecentyears,hemadebundlesofcash
bybranchingoutintoHongKong
sresurgentrealestatesectorandmaking
betsonpharmaceuticalandhealthproducts.
HebrokeintoForbes
GreaterChina40richestlistthisyear,ranking38th
withanetworthof$1.1billion,thanksinlargepartstocannybetsonHong
Kongrealestate.
http://www.forbes.com/2007/08/15/mattelchinachoifacemarketscx_jc_0815autofacescan01.html

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6/30/2015

ABlowToHongKong'sToyKingForbes

RatherthantoyingwiththesmallthingsheproducesforMattel,the60year
oldChoiisknownforhiszealasaluxurycarcollector.Hereportedlyowns
morethan30luxurycarswithatotalvalueofmorethan$26million,
includingaPaganiZondaF,FerrariF550,CarreraGT,DiabloSEandan
antiqueRollsRoyce.
ChoiisfarfromthenormalragstorichesstoryinChina,boastingan
uncommonlyextensiveeducation:abachelor
sdegreeinbusiness
administrationfromSussexCollegeofTechnologyintheU.K.,amaster
s
degreeinbusinessadministrationfromNewportUniversityintheU.S.anda
PhDinbusinessmanagementfromChina
sHarbinInstituteofTechnology.
HerecentlyboughtintoHongKonglistedTownHealthInternational
Holdings,becomingitsvicechairman.
BothChoiandhisdesignatedsuccessor,daughterCarmenChoi,areactivein
Chinesepolitics.HeservesasamemberoftheNationalCommitteeofthe
ChinesePeople
sPoliticalConsultativeConference.Bothheandhisdaughter
alsoplayaroleinpoliticsinShenzhen.
ItwasnotknownyetwhetherChinawouldslapanexportbanonhisbusiness,
asitdidwithtwootherChinesetoysubcontractorsbehindtherecentwavesof
globalrecalls.Attheveryleast,Choimayhavetroublefurtherexpandinghis
stableofluxurycars.

SeeAlso
BestToddlerToys

ToyConstructionTrucks

ToyCollectors

AntiqueToyTrucks

AntiqueCarToysSale

VintageToys

ToyCarStorage

ScaleToyCars

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