Source of Wealth:Paper
Full Name:Lee Wan Keung
Occupation:Founder and Chairman of Lee & Man Paper Manufacturing Limited
About Lee Wan Keung
Patrick Lee is the Chairman of Lee & Man Paper Manufacturing Limited and he has an estimated net worth of $2.8 billion as of April 2016 according to Forbes. He is the 19th person in the list of Hong Kong’s 50 Richest People and is ranked 503rd in the list of World Billionaires.
Lee Wan Keung has earned his estimated net worth of $1.28 billion as the founder the paper maker. He served as the Chairman and Executive Director of the company until June 1, 2013. He was responsible for the senior staff management, corporate strategy and planning, building construction, and public relations. The company, which was founded in 1994, is involved in the manufacturing of linerboard, containerboard and wood pulp.
In the past year, Patrick Lee’s share in Lee & Man Paper Manufacturing has gained 50% despite weaker price amid soft demand in paper. Sales in the six months through September fell by 1.9%. The net profit gained by only 4.3%. He and his family hold a 60% stake in the company that produces close to 4 million tons of containerboard annually. The product is used for shipping and packaging carton.
Mr. Lee runs the firm with his sons, Lee Man Chun (Raymund) who serves as the chief executive officer, and Lee Man Bun who is the managing director. He has more than 45 years of experience in manufacturing and international trade. He was the former standing member of the Political Consultative Committee of Guangdong Province. He was also the former chairman of Hong Kong Hainan Commercial Association.
Currently, Patrick Lee is the honorary principal of the Qionghai Jiaji Secondary School and Hainan Guoxing Secondary School. He was awarded honorary citizenship of Dongguan.
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