The Heir Who Built Beyond the Waves: Hui Sai Fun’s Journey from Shipping Fortune to Real Estate Empire

Part I: Foundation and Transformation: From Son of the “King of Ships” to Real Estate Tycoon

The story of Hui Sai Fun begins with his father, Hui Oi Chow, Hong Kong’s first-generation “King of Ships.”

Starting humbly from a small grocery store in Zhanjiang, Guangdong, Hui Oi Chow saw an opportunity where others didn’t. He ventured into the shipping business and founded Shun Cheong Steam Navigation Co., Ltd., eventually rising to become one of Hong Kong’s leading shipping magnates. It was through this success that he built the family’s first great fortune.

As the youngest son, Hui Sai Fun grew up surrounded by the rhythms of commerce and was deeply trusted by his father. Before Hui Oi Chow’s death, he carefully planned the distribution of family assets, assigning the promising real estate arm to his youngest son. A decision that would later prove visionary.
 
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A Bold Shift From Sea to Land

After losing both his father and elder brother, Hui Sai Fun took on the weight of the family legacy alone. Displaying exceptional foresight, he saw the shipping industry’s gradual decline and made a bold decision: to sell off the family’s shipping businesses and channel the proceeds into property into property investment. 
 
 
 
Under his leadership, the family’s flagship, Chau Hing Company Limited, developed a series of landmark commercial buildings in Hong Kong’s prime districts, including the Central Building, properties held not for sale, but for steady rental income. Thus prudent approach generated enormous, sustainable wealth.
 
By the time of his later years, the Hui family’s real estate assets in Hong Kong were estimated to exceed HKD 40 billion, marking a remarkable transformation, from the open seas to the heart of the city, and securing legacy built on both courage and foresight.
 
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 Part II: Family and Legacy: Hui Sai Fun’s Family Crossroads
  
In his personal life, Hui Sai Fun shared a quiet yet remarkable love story. He and his wife, Jian Xing Chun, were together for over seventy years, a bond built on loyalty and mutual respect. Their steadfast marriage stood out as an enduring example of devotion and simplicity among Hong Kong’s elite. 
 
                                                             
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
(Hui Sai Fun with Hui Chun Hang & Michelle Reis)                                                         (Hui Chun Kin)           
 

Two Sons, Two Paths—And a Father Caught in Between

Yet, beneath the surface of his success, Hui faced astorm he could not control, the question of succession. He had two sons: Hui Chun Kin, the talented and disciplined elder son groomed to be his heir, and Hui Chun Hang, the younger son whose carefree lifestyle earned him the media’s “playboy” label.

When the Groomed Successor Is Suddenly Gone

The sudden passing of Hui Chun Kin in 2008 was a devastating blow. Not only did Hui lose his beloved son, but also the successor he had carefully           prepared to carry the family banner. With only his younger son remaining and clearly uninterested in the business, Hui found himself facing an agonizing reality. 

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Part III: Farsighted Guardianship: The Wise Choice of a Family Trust

 
On December 5, 2018, Hui Sai Fun passed away in Hong Kong at the age of 97. His death marked the end of an era — that of a businessman who had transformed a family shipping legacy into a multi- billion-dollar real estate empire.

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1. A Visionary Structure:

Separating Ownership, Control, and Benefit

Unlike many patriarchs who simply divide assets among heirs, Hui Sai Fun took a disciplined and forward-looking approach. His estate, reportedly worth over HKD 40 billion,was not directly passed to his surviving son, Hui Chun Hang. Instead, he had planned every detail years in advance.

(I) Philanthropy

Roughly half of Hui’s fortune was dedicated to charitable causes, reflecting his long-standing belief in giving back tosociety. A principle that also helped reduce potential inheritance disputes.

(II) Trust as the Core

The remaining assets, valued at over HKD 20 billion, were placed into a family trust. This trust became the central pillar of Hui’s estate plan, encompassing key commercial properties such as the Central Building in Hong Kong’s Central District, and personal residences like the No. 10 Tai Long Wan Road mansion, where Hui and his son once lived.

(III) Fixed Monthly Distribution

Under the arrangement, beneficiaries (including Hui Chun Hang, Michelle Reis, and other family members) do not own or have direct control over the trust’s principal assets. Instead, they receive regular monthly allowances, reported to be around HKD 2 million for Hui Chun Hang and Michelle Reis. This ensures comfort and stability without exposing the core assets to personal financial risks or impulsive decisions.

(IV) Professional Management

The trust’s holdings are managed by appointed professional trustees and investment institutions, ensuring the assetsremain productive, diversified, and well-protected. This approach shields the family wealth from the challenges thatoften plague inherited fortunes such as mismanagement, market volatility, or excessive spending by heirs.
 
 
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2. A Father’s Love, Planned Far Ahead:

Balancing  Provision and Restraint

To outsiders, Hui Sai Fun’s trust arrangement may have seemed like a sign of skepticism, a lack of confidence in his son’s ability to run the family empire. But at a deeper level, it reflected something far more profound: a father’s wisdom and love expressed through foresight.
 

Love Expressed Through Long-Term Vision

  • Securing Livelihood: At its core, the trust ensured that Hui’s son and future generations would live in lifelong comfort. With fixed, predictable allowances, the family could maintain a first-class standard of living without bearing the burdens of day-to-day business management or financial stress.
  • Preventing Wealth Dissipation: More importantly, the structure itself acted as a protective shield. By separating ownership from benefit, Hui effectively eliminated the risk of core assets being sold, divided, or lost to poor judgment. Regardless of personal choices or changing circumstances, the family’s key holdings would remain intact — ensuring that the wealth he built could endure for generations.
  • Avoiding Family Conflict: Hui’s clear and transparent trust arrangement also helped avert the inheritance disputes that have so often torn wealthy families apart. By defining rights and responsibilities in advance, he preserved not only his assets, but also family harmony which something money alone  can  never buy.

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Hui Sai Fun’s choice transcended the traditional model of sons directly inheriting their fathers’ businesses, showcasing a more modern, rational, and robust philosophy of wealth succession. He left behind not just a commercial empire, but an institutional armour designed to ensure its enduring existence.

 In many ways, Hui Sai Fun’s decision marked a shift from the traditional idea of “passing the baton” to the next generation. Instead, he embraced a modern and institutional approach to legacy — one rooted in protection,governance, and long- term vision.

He did not just leave behind a fortune.

He left behind a system.

 

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Part IV: Beyond Trusts: Labuan Foundation – An Alternative Strategic Choice for Wealth Succession

The family trust used by Mr. Hui Sai Fun stands as one of the most established and widely recognized tools for intergenerational wealth succession, both in Hong Kong and across the world.  However, in today’s increasingly globalized and complex financial environment, the family trust is no longer the only option available to high-net- worth families.
 
For families seeking greater flexibility, stronger control, and jurisdictional advantages, the Labuan Foundation has emerged as a powerful alternative, offering a structure that blends traditional trust principles with the clarity and governance of a legal entity.
 

Core Advantages of a Labuan Foundation

 
 

  • Legal Entity Status: Unlike a trust, the foundation is its own legal entity — able to own assets, enter contracts, and operate independently, offering greater transparency and simplicity.

  • Founder’s Control & Vision: The founder can set clear objectives, governance rules, and distribution terms through the Charter, Articles, and Family Constitution, ensuring long-term alignment with family values and vision.
  • Strong Asset Protection: Foundation assets are legally separated from the founder, council, and beneficiaries, creating powerful protection against creditor claims, marital disputes, and political or economic risks.

  • Privacy & Tax Efficiency:Labuan offers confidentiality with no public disclosure of foundation details, alongside a favourable tax regime — including low or zero tax on non-Malaysian income — supporting efficient estate and wealth planning.

Comparison between Trust & Foundation

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Conclusion

Hui Sai Fun’s family trust proved both successful and strategic. The Labuan Foundation offers an alternative route to achieve similar goals—protecting core assets and securing future generations—especially for ultra- high-net-worth families seeking clear, enforceable terms within an Asian jurisdiction.

Ultimately, the choice between a Family Trust and a Labuan Foundation depends on the family’s needs, the founder’s intentions, and the balance between control, flexibility, and privacy. Regardless of structure, the principle remains: separate emotions from economics, and use professional, institutional planning to turn wealth into a lasting blessing, not a source of conflict.
 
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Final Thought:

Wealth preservation is not only about accumulation but also about planning its transfer. Hui SaiFun’s story serves both as a cautionary reminder and a guide for more thoughtful successionplanning.

With the right advisors like CORE ADVISORS and tools like Family Offices and Labuan Private Foundations, families can secure their legacies without costly disputes.

Discover more about Core Advisors Limited and the services it provides

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