Press Release - January 31, 2005

Canadian travel company Tai Pan Tours, announced today (Monday) that the company has chosen Hong Kong for its Asia Pacific headquarters. Located in Tsim Sha Tsui, the new office in Hong Kong is Tai Pan�s first overseas operation outside of Canada.

According to the President & CEO of Tai Pan Tours, Mr Francis Wat, the new Asia Pacific headquarters is an important first step for the company�s expansion outside of Canada. He said that it was part of their long-term business development plan to establish a strong network of global travel by strategically locating branches in key cities around the world.

�We see tremendous business opportunities in using Hong Kong as our regional base. Hong Kong is centrally located in Asia and at the doorstep of China. The city�s world-class, sophisticated infrastructure also makes it easy and convenient for companies like us to conduct business activities. That was why Hong Kong naturally became Tai Pan Group�s first choice for our Asia Pacific headquarters,� said Mr Wat.

Mr Wat said that given Hong Kong�s leading position as a tourism hub in Asia, the company would leverage the availability of experienced practitioners in the travel industry to grow its business rapidly. The office in Hong Kong will offer the company�s travel-related products and services to local customers, and will also play an important role in exploring expansion opportunities in other markets in the region.

Invest Hong Kong has assisted the company in its investment process. At a courtesy visit to the new regional headquarters located in Tsim Sha Tsui, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, officially welcomed the addition of the new member to our travel industry.

�I am delighted that Tai Pan Tours has picked Hong Kong as it�s first overseas business location� he said. �The record 21.8 million tourist arrivals here in 2004 provides a clear indicator of the size and importance of the travel-related industry to Hong Kong and all indications are that this figure is going to grow. Tai Pan�s investment in Hong Kong is a vote of confidence in our city as a regional centre which not only creates new jobs opportunities for our city, but also brings in new ideas and experiences, enriching the diversity of products and services the city has to offer.� He wished the company every success for its future business in Asia.

Welcoming the news, the Director of the Hong Kong Economic and Trade Office (Canada) said, �"Over the years, Hong Kong and Canada have developed strong ties in many areas. The relationship has been further strengthened with the recent visit of a trade mission led by International Trade Minister James Peterson to Hong Kong. In light of such strong social and economic ties, and the rebound of the Hong Kong economy, I would expect more Canadian companies to follow Tai Pan's example to use Hong Kong as their business platform to China and the rest of Asia."

Established in 1989, Tai Pan Tours is the flagship company of Tai Pan Group International Inc, specialising in arranging air tickets and hotel accommodations, and organising international and local tours. Apart from its head office in Toronto and the new Asian headquarters in Hong Kong, the company has branches in other major Canadian cities, including Vancouver and Montreal. The company employs more than 300 staff in Canada. For more information, please visit the website at www.taipan.ws.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.


For more information, please contact: Stephen Siu, Assistant Director (Public Relations) of the Hong Kong Economic and Trade Office at: (416) 924-5544 or email: [email protected] or Elison Chu, Senior Information Officer, [email protected]

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