(Adds dropped word "Fook" in company name in headline)
HONG KONG, June 17 Property-to-jewellery
conglomerate Chow Tai Fook Enterprises, controlled by the family
of tycoon Cheng Yu-tung, has bid for Standard Chartered's
Hong Kong consumer finance unit PrimeCredit, a director
of the privately owned company said on Tuesday.
"It is still in the bidding process," Henry Cheng, a
director of the conglomerate and chairman of Chow Tai Fook
Jewellery Group told reporters.
"It is an investment of the private company and is not
related to the listed firm. It will not affect the financial
strength of Chow Tai Fook Jewellery," Cheng said. He made no
Japan's Shinsei Bank Ltd and Carlyle Group
are among suitors who have advanced to a final round of bidding
for PrimeCredit, people familiar with the matter said last
Other shortlisted bidders include non-bank lender Pepper
Australia, United Asia Finance, a Hong Kong-based consumer
finance firm, and Chow Tai Fook Enterprises, the people added.
The Cheng family also owns Chow Tai Fook Jewellery, the
world's largest jewellery retailer by stock market value, which
on Tuesday posted a 32 percent jump in profit for the year ended
(Reporting by Donny Kwok; Editing by David Holmes)