Peggy Sito

Peggy Sito

Deputy Business Editor

Peggy Sito is a contributor to Inkstone. She is the South China Morning Post's property editor.

Location
Hong Kong
Language spoken
English, Mandarin
Areas of Expertise
Markets, mergers & acquisitions, initial public offerings, property
Legendary gambling tycoon Stanley Ho dies at 98
Stanley Ho, the patriarch of Asia’s largest casino empire and a man whose very name is synonymous with Macau’s rise to become the world’s gambling capital, has died. He was 98.  Here are seven things to know about the man: He helped build a gambling hub bigger than Las Vegas from the ground up Stanley Ho’s life will forever be tied to Macau, where he fled during the Second World War with only HK$10 – or about $33 in today’s money – in his pocket.  Then a Portuguese territory, Macau was neutral in the Pacific War, in keeping with Portugal’s neutrality throughout the world war.  Ho got his start in business by working for the Macau Cooperative Company, then the largest company in the territor
​​​​​​​How the coronavirus pandemic will shape China’s health care reform
In March 2019, 3,600 family doctors gathered at a conference in central China and concluded that Wuhan, a major transport hub of 11 million people, needed urgent health care reform. Its already overburdened hospitals needed to be augmented and supported by a network of clinics, which would function as first ports of call for patients. The reforms could even serve as a blueprint for other parts of China. “The primary care infrastructure in Wuhan was comparatively not up to standard, [and] awareness among residents of public health care was relatively low,” Donald Li Kwok-tung, the Hong Kong-based president of the meeting’s backer, the World Organization of Family Doctors, said in an interview
This ex-bodyguard is making a killing thanks to Hong Kong unrest
Months of violent protests have landed a heavy blow to businesses in Hong Kong. But for Clement Lai, a former elite bodyguard, the unrest has been a boon. His private security firm has been in high demand as the anti-government demonstrations in Hong Kong have intensified, underscoring the increased volatility of the unrest and fears of violence in the Asian financial center. Formerly a close protection officer in the Hong Kong Police Force’s VIP protection unit, Lai was responsible for the personal safety of visiting Chinese leaders including President Jiang Zemin and then Vice-President Hu Jintao, as well as overseas dignitaries such as US President Bill Clinton. He set up Clement Shield i
China grounds Boeing planes after fatal crash
China’s civil aviation regulator has ordered domestic carriers to temporarily stop flying their 737 Max 8 aircraft, after a plane of the same model operated by Ethiopian Airlines crashed – the second tragedy in five months involving the Boeing jet. On Sunday, a 737 Max 8 operated by Ethiopian Airlines plunged to the ground on its way to Kenya, killing all 157 people on board, including eight Chinese nationals. That came five months after another 737 Max 8 crash in Indonesia killed 189 passengers and crew. There were similarities between the two mishaps, since they both occurred during take-off, involving new aircraft that had just been delivered, the Civil Aviation Authority of China said in
Canada Goose delays China opening
Luxury down jacket maker Canada Goose has postponed the opening of its first store in China. The company told the South China Morning Post that the Beijing shop, originally set to open Saturday, is still under construction. But this explanation flies in the face of what everyone is thinking.  The delay comes after Canada’s arrest of a Chinese executive has escalated into a fully-fledged diplomatic crisis that has prompted strong protests from China. Beijing has threatened Ottawa with “grave consequences” if the executive, Huawei chief financial officer Meng Wanzhou, is not freed. And the Chinese authorities have been accused of political retaliation by arresting two Canadians in China, Mich
How owning a home became the ultimate Chinese dream
Two decades ago, a scholar returned to China from his studies in America. He was bearing a gift: the idea that an ordinary family can own a home.  It was the quintessential American dream. But in the hands of Meng Xiaosu, who would go on to be known as China’s “Godfather of Real Estate,” it would quickly become the quintessential Chinese dream as well. “A friend of mine in the United States told me about their dream – one home, one car,” Meng recalled in an interview with the South China Morning Post. “I believed that owning a car was out of reach at the time in China. But China could have the same home ownership dream.” That was quite an aspiration for the time. The wounds of China’s Cultur
The world’s most $$$ shopping street is in Hong Kong
Not Manhattan, not London, not Tokyo: the world’s most expensive retail street is in Hong Kong. Russell Street, in the city’s central Causeway Bay district, has replaced New York’s Upper 5th Avenue – the section between 49th and 60th Streets – as the world’s most expensive retail street by rental value, according to property consultants Cushman & Wakefield. $2,671 per sq. ft. Annual rent on Russell Street, Hong Kong  It’s the first time in five years that the city has earned the dubious honor, with average annual rents of $2,671 per square foot. That’s despite a small decline of in average rents, according to the company’s annual Main Streets Across the World report, released on Wednesday mo
Shoebox home in Hong Kong sold for $1 million
Got one million dollars? Then you can afford a 209-sq ft apartment in Hong Kong. That’s smaller than the area you’d get if you combined two parking spaces. An apartment in the city’s upscale Pok Fu Lam neighborhood sold for $1 million this week, according to its developer. That price translates into $4,800 per sq ft – a record price for Hong Kong’s so-called micro-apartments.  The studio flat consists of an open area that serves as living room, bedroom and dining hall, plus a corner bathroom.  Another 310-sq ft apartment in the same building, constructed by Kowloon Development, was recently sold for $1.4 million. Hong Kong has been the world’s least affordable property market for eight year