HONGKONG CATERERS LIMITED 香港食品有限公司
A closer look at Maxim's
Recent filings reveal the true profits of Hongkong Caterers Ltd, the 50% owner of Maxim's run by the Wu family, and how they take out a substantial management fee from Maxim's on top of the 50% of profits. We also estimate that about 1 in 7 dollars of HK restaurant receipts go to the Maxim's group. Annie Wu has only a 0.33% stake of HC, although her parents and siblings control an estimated 18.6%. (11-Oct-2019)
Recent filings reveal the true profits of Hongkong Caterers Ltd, the 50% owner of Maxim's run by the Wu family, and how they take out a substantial management fee from Maxim's on top of the 50% of profits. We also estimate that about 1 in 7 dollars of HK restaurant receipts go to the Maxim's group. Annie Wu has only a 0.33% stake of HC, although her parents and siblings control an estimated 18.6%. (11-Oct-2019)
Daughter of Maxim's founder hits back at critics
South China Morning Post, 10-Oct-2019
"I absolutely have no links with Maxim's personally because I don't work at Maxim's" Wu said. Well, not quite. Our research shows she owns 100 shares (0.33%) of HK Caterers Ltd, which owns 50% of Maxim's Caterers Ltd. The latest year's dividends of HKC were $13k per share, so she received HK$1.3m on her shares.
South China Morning Post, 10-Oct-2019
"I absolutely have no links with Maxim's personally because I don't work at Maxim's" Wu said. Well, not quite. Our research shows she owns 100 shares (0.33%) of HK Caterers Ltd, which owns 50% of Maxim's Caterers Ltd. The latest year's dividends of HKC were $13k per share, so she received HK$1.3m on her shares.
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