British boat builder, Princess Yachts International, has strengthened its distribution network in Asia with the announcement that its representative for South China and Hong Kong will now take overall responsibility for the People's Republic of China. Known as Princess Yachts Greater China Limited (PYGC), this newly formed operation amalgamates Princess' existing Distributor for Hong Kong, Macau and Southern China, a subsidiary of Chow Tai Fook Enterprises Limited, the flagship investment holding company controlled by Dato' Dr. Cheng Yu Tung and family (the "Cheng Family"), with a new partner, DCH Marine Limited, a wholly owned subsidiary of Hong Kong-based Dah Chong Hong Holdings Ltd. This newly formed joint venture will allow Princess to expand its reach across China with plans already underway to create a network of sales and service centres in key locations across mainland China.

The base of operations for PYGC will remain in place within the existing offices in Central Hong Kong. Through its previous work in the south, PYGC has already established a strong record for sales and service and this new move will further improve Princess' reach throughout the region, having already sold and delivered a number of new Princess craft up to and including the Company's 98 Motor Yacht and 105-foot 32Metre.

Dah Chong Hong Holdings Limited is a Hong Kong-based conglomerate with a diverse portfolio in automotive, food and consumer products. With huge experience in the luxury market, DCH is a prominent force in the automotive sector in Greater China, with over 50 years experience. DCH was the key player in the successful introduction of Bentley Motors to mainland China and led the market to become the second largest importer for Bentley in the world.

Chow Tai Fook Enterprises Limited is the controlling shareholder of New World Development Limited, a leading Hong Kong-based conglomerate with interests in property, infrastructure and service, department store and hotel businesses. The Cheng Family also controls Chow Tai Fook Jewellery Group Limited, the world's largest jewellery retailer with over 2,000 points of sales in Greater China.