On the 20th of September, Dessert Lab Sdn Bhd made its grand entrance, ushering in a wave of delight for dessert enthusiasts throughout Malaysia and beyond.
Dessert Lab aims to be the face of Malaysian desserts
Dessert Lab represents LC Venture’s second foray into the vibrant world of Malaysia’s Food & Beverage sector. Previously, LC Venture had played a pivotal role in the transformation of Jim’s Recipe, a Malaysian bakery chain boasting over 400 outlets across Malaysia, China, and other locations. Now, LC Venture has set its sights on Malaysian delectable desserts.
The shop opening spectacle
Global Opportunities Await
The Confectionery & Snacks market, with global revenues totaling US$1.66 trillion in 2023, presents a vast opportunity. This growth is driven by market consolidations and franchising models, ensuring extensive market reach, particularly within the realm of frozen desserts. Malaysia’s market share amounts to US$9.90 billion, with an expected annual growth rate of 8.24% (CAGR 2023-2028).
Malaysian desserts, with their mixture of flavors, hold immense global potential but are yet to fully break into the international stage. LC Venture is on a mission to change this by introducing ground-breaking techniques to traditional dessert-making processes and utilising advanced technology and infrastructure to streamline operations.
Malaysia’s rich tradition of desserts is not lost on the elderly
In addition to reviving traditional flavors, Dessert Lab is also pioneering a contemporary twist with its signature finely shaved ice base.
Our current menu is a treasure trove of carefully crafted delicacies that pay homage to Malaysia’s culinary heritage. From velvety, aromatic bowls of Bubur Cha Cha, featuring colourful yam and sweet potato cubes bathed in coconut milk, to delicate homemade Douhua (tofu pudding) and Pandan-infused red bean soup, each dish is a tribute to Malaysia’s rich culinary traditions. Our creations, like black sesame, bubur cha cha, and Milo ice, are crafted from freshly brewed matcha, Oolong Tea, and a selection of traditional flavors are made using healthy and fresh local ingredients with traditional methods.
The menu has grown in popularity with many locals
Early Triumphs
Dessert Lab is rapidly gaining recognition among food enthusiasts, with devoted patrons and online reviewers hailing it as the much-anticipated breakthrough for Malaysia’s dessert market holding the promise of becoming the next big sensation in the culinary landscape.
LC Venture plans to seize this opportunity by developing a nuanced Franchise Model. This model will establish scalable standards that utilises technology for streamlined production while preserving the ageless art of making Malaysian desserts. A strategically placed network of central kitchens will also streamline logistics and distribution.
Happy customers share their support
These operational standards will be consistently replicated across our expanding network of shops, which are at various stages of opening. The commitment to uniformity will ensures sustained growth and safeguards against cultural appropriation or operational lapses, some of the challenges faced in the bubble tea industry.
Dessert Lab is also developing its very own Kitchen Academy to equip future franchisees and licensees with the skills and knowledge needed to create exceptional desserts and master our operations. This forward-thinking approach aims to cultivate a sustainable ecosystem of strategically located stores across Malaysia and globally which operate a standard, scalable and streamlined operations.
LC Venture aims to create a Franchise Model as part of its expansion plans
A distinguishing feature of Dessert Lab is the ambition to integrate cutting-edge technology into the ordering, payment, and delivery systems. From seamless ordering to online payments, efficiency is at the core of our operations. In what may be a pioneering move for relatively low-cost investments such as dessert shops, Dessert Lab has incorporated the contactless payment technology, Touch n’ Go, enabling customers to order conveniently via their phones. Moreover, Dessert Lab is a registered touch point for Touch n’ Go (TNG) eWallet users, allowing them to order and pay online and accumulate points with each purchase.
Customers can order and pay online with contactless payment from their phones
All this ensures a seamless management of orders and deliveries, complemented by contactless payment options for an enhanced customer experience. The system will also serve future business owners as an excellent tool for financial tracking and reporting.
Dessert Lab’s journey towards expanding this dessert revolution is in full swing. LC Venture’s VC team are regularly receiving expressions of interest from prospective investors and passionate entrepreneurs eager to embark on this sweet adventure through licensing or other forms of investment.
Embark on your own culinary adventure
Whether you’re an investor seeking opportunities or an F&B entrepreneur with a passion for innovation, there’s a place for you in this exciting transformation.
To learn more about Dessert Lab and explore investment opportunities, please contact us at info@lcventure.com or reach us at +86 (0) 10 6552 7018.
Last week, Gaston Chee was interviewed by the MarinaTimes, the only weekly magazine in the Bay Area and the Entrepreneur, the popular US-based news outlet with a wide circulation carrying news stories about entrepreneurship, small business management and business.
Gaston Chee is the Managing Partner of LC Venture, a UK-based, venture-backed investment firm and the co-founder of BeGo Education, the education brand wholly owned by LC Venture.
Gaston Chee during the interview with Marina Times at MEBO International Headquarters
The interview was hosted by Ms. Xiao Xiao Chen, the Director of International Affairs & UN Projects at MEBO International. A leading business group in burns and regenerative treatment and pharmaceuticals, it is the corporate partner and co-host of the APEC 2023 Organization Committee. MEBO is collaborating with Marina Times and The Entrepreneur to launch the “APEC 2023 Dialogue” aimed at promoting dialogue and cooperation between the United States, China, and the greater Asia-Pacific region.
Ms. Xiao Xiao Chen, the Director of International Affairs shares a letter of appreciation with Gaston Chee
In an engaging conversation that lasted almost an hour, the interview spanned issues related to the upcoming APEC 2023 which is scheduled for November in San Francisco this year. Gaston also shared his journey as a business owner and investor, and the work he is engaged in, holding various positions on the boards of regional and national business organisations and how his company and his investments are part of the APEC fabric that is changing the lives of the APEC members.
Gaston Chee is a founding member of the Regional Economic and Trade Partnership (RET), the working Committee in support of the China Association of International Trade (CAIT) for cross-border trading and logistics across RCEP member states. Additionally, he heads a directory at the Malaysian Chamber of Commerce in Beijing and previously held a similar position at the British Chamber of Commerce in China from 2017 to 2018.
Gaston Chee at APEC SME BUSINESS FORUM 2018, Shenzhen (Photo credit: LC Venture)
During the interview, Gaston stated the importance of APEC 2023 at a time when the world is still dealing with the impact of the global pandemic, strained US-China relations, and the ongoing Russia-Ukraine war.
This year’s APEC will be hosted under the theme of “Creating a Resilient and Sustainable Future for All”, outlining three priorities of interconnected, innovative, and inclusive. Gaston specifically emphasised the importance of inclusivity and how it remains a global challenge. He discussed how APEC could be a game changer in fostering understanding among different nations as it continues to champion free trade among members.
This year’s APEC Summit will emphasize resilience and sustainability, two pillars that will underpin the efforts of member states to ensure a robust economic recovery, aligning with the endeavors at LC Venture and its affiliated firms. Given that most of the families we serve are on the brink of transition, these businesses need to demonstrate resilience during these challenging times, ensuring continuity in the face of uncertainty and striving for sustainability.
“APEC represents nearly a third of the global population and approximately 60% of the world’s GDP, comprising 21-member states,” Gaston said, noting importance of the organisation. “I have been to 11 of the member states and they could not be more diverse. However, creating a common ground will be key to creating a truly resilient and sustainable global economy”
Gaston stated that APEC has been successful in supporting millions of businesses in the APEC region by addressing their pressing issues and introducing policies for ease of doing business, such as Intellectual Property Rights (IPR) Protection, E-commerce and Digital Trade and business mobility by introducing the APEC travel card. Besides, APEC has championed the issue of women in business recently and has pushed for a fuller support of SMEs. “APEC has become an almost textbook guide on how multilateral organisations can bring true prosperity to the people of member states and beyond,” Gaston said.
However, he said that there is still much to be done to ease restrictions, especially on international travel, visa regulations, and post-graduation work opportunities for international students from APEC member states. He said that most people don’t realise the immense potential of study abroad to achieve a truly globally connected and inclusive economy, citing his own experience.
International Education Total Global expenditure is expected to top 430Bn US in 20230 (Source: ICEF Monitor (https://monitor.icef.com/about-icef-monitor/)
Gaston Chee spent his early formative years in the UK. He received his bachelores in Engineering Business Management from Warwick University and he also has a PGCT in Social Enterprise. With over a decade in education and eventually setting-up his business in the UK, he has extensive experience of business development and cross-border investment. Throughout his entreprenueral journey, he has won several entrepreneurship awards, including the esteemed Social Entrepreneurship Award, the UK’s biggest celebration of social enterprises recognising the best in the sector.
Gaston describes his international experience as eye-opening, making him multilingual and multicultural, and a bridge builder between the East and West. He mentioned how favorable policies, especially the opportunity to set up his first business in the UK, have influenced his business development and played a key role in developing his perspective as a global citizen. “In spite of the progress made in recent decades, to see the world now leaning towards protectionism and non-engagement is a step backwards,” he said and he believes there is much work to be done in this area, something that LC Venture through its education brand, BeGo Education are actively pushing for.
BeGo Education operates a boutique but holistic service called the Private Family Education Office (PFEP) for Chinese families. This service offers boutique education consultancy services to UHNW Chinese families. Gaston refers to the service a journey that includes not just the academic development of the student, but also providing support beyond the school.
“We help these families with their school or university application, settling in and post-graduate investment opportunities for their family businesses through the work we do at LC Venture,” Gaston said.
LC Venture and BeGo Education has assisted hundreds of families in this regard, which is something that Gaston speaks proudly about.
Private Family Education Office (PFEP)
“We are very active in the study abroad services through our Education brand, BeGo Education, and see first-hand the struggles many of these students face,” he said, referring to postgraduate restrictions in the UK and the recent crackdown on student visas in the US as prime examples.
“Approximately 80% of the family businesses we assist have a global business strategy for their family business operations. Nevertheless, navigating the complex web of regulations presents numerous challenges, constraining their capacity to establish new ventures and fulfill their role as global representatives, not only for their own enterprises but also for their respective countries.” Gaston said and hopes that Summits like the upcoming APEC 2023 will table these issue on the agenda.
He said that BeGo Education has been vocal in raising awareness of the issue and lobbying policymakers to alleviate some of the challenges faced by international students.
Gaston Chee speaks to senior UK officials in Beijing
“We have worked very closely with educational associations such as British Council, COBIS and BSA and the Department of International Trade (DIT) in the UK and the Mayor of London to push for policy reforms in this area.” Gaston said. These efforts sometimes pay off, as the UK government decided to reinstate the graduate route of Post Work Visa policy allowing students to stay in the UK after their studies.
However, Gaston believes there is much that needs to be done and referred to the key role that APEC plays in private businesses in achieving true globalisation. He praised the work that firms like MEBO International and Mr. Kevin Xu, the Chairman of MEBO International are doing to bring these issues to the fore front of global agenda.
MEBO International Partners
Gaston concluded the interview by affirming that LC Venture and BeGo Education will continue to work with business and organisations like APEC towards creating a resilient and sustainable future, while remaining committed to interconnectivity, innovation and inclusivity. “The next APEC Summit will have the opportunity to encourage policy changes in the right direction,” Gaston said.
LC Venture continues to support the work of governmental and regional organisations such as the Regional Comprehensive Economic Partnership (RCEP), APEC’s SME forum, ASEAN, and MAYCHAM China.
For more information or for inquiries, please write to us at: info@lcventure.com
Gaston Chee was among the 40 young leaders recognised in a recent memoir launched by the Global Young Leaders Dialogue (GYLD).
The memoir was launched during the 2023 Global Young Leaders Dialogue (GYLD) forum held in Beijing on the 12th of August. This event was organised by the Center for China and Globalization (CCG), the Beijing Returned Overseas Chinese Federation and co-hosted by the Schwarzman Scholars and The Yenching Academy, which run postgraduate programs at Tsinghua University and Peking University respectively.
Held under the theme “Global Development and the Power of Youth,” the forum gathered more than 150 participants, including former heads of states, senior members of international organisations like the UN Secretary-General, WHO, UNESCO, and UN Women (participating online), as well as diplomatic staff from various embassies in Beijing. The list also encompassed international youth leaders, scholars, and representatives from international organisations across nearly 30 countries.
Various dignitaries including heads of states and government, and various international organisation organisation spoke at the Forum in person and online (Photo Credit: GYLD Website)
Discussions during the forum spanned diverse topics such as intercultural communication, climate change, sustainable urban development, and the pivotal role of education in sustainable development and youth empowerment.
Gaston Chee, the Managing Partner of LC Venture, first responded to a formal invitation to join GYLD in 2021. He has since remained actively engaged in various GYLD events and conferences, including the recent FISU GAMES 2023 conference held Chengdu.
GYLD initiative curates impactful activities aimed at fostering dialogue and interaction among young leaders, entrepreneurs, and academics, primarily in China. These initiatives including invitations to high-profile occasions like the Chinese People’s Political Consultative Conference (CPPCC) consultative sessions at its headquarters in Beijing, providing a platform for insightful discussions and engagements with key Chinese government agencies. These efforts are tailored for a select group of members, ensuring valuable interactions and meaningful exchanges. Such events showcase China’s recent advancements in governance, technology, and economic development, fostering cultural and intellectual exchange among members and the local community.
Gaston Chee attends a consultative session at the Chinese People's Political Consultative Conference (CPPCC)
“Together for a Shared Future”
The memoir is titled “Together for a Shared Future,” which echoes the motto of the 2022 Winter Olympic Games and a vision championed by CPC’s leadership, including President Xi Jinping, who has frequently referenced it in his speeches. The publication features stories from 40 young leaders and their China experience. GYLD has done a commendable work in compiling and publishing these narratives from various GYLD activities, including visits to strategically chosen locations marking pivotal moments in China’s political, economic, or cultural transformation, which show participants’ first-hand perspective on China’s dynamic evolution in the last few decades.
The GYLD memoir: Together for a shared future
Each story overflows with accolades, praise, and astonishment, unveiling previously untold feats and accomplishments of China and its people.
Speaking during the book launch, dignitaries like the Prime Minister of Pakistan, H.E. Mr. Issac Herzog, and President of the State of Israel, H.E. Mr. Muhammad Shehbaz Sharif, who joined the forum online also shared their own stories of China’s remarkable progress over recent decades.
H.E. Mr. Issac Herzog President of the State of Israel virtually addresses the Forum (Photo Credit: GYLD Website)
Gaston’s contribution to the memoir is a cross-section of his experiences in China, since permanently relocating from the UK in 2012 to establish BeGo, an education consultancy firm that was offering application services to Chinese families. The company has since been fully acquired by LC Venture. Today, BeGo Education offers a flagship service known as the Private Family Education Office (PFEO), providing UHNW Chinese families with a boutique and comprehensive lifestyle and academic consultancy services.
In his contribution to the memoir, Gaston emphasises China’s remarkable progress over the past few decades, highlighting the transformation of a country he first encountered in his early years. His observation spans the tremendous feat of the infrastructural miracle such China’s rail network to all aspects of public services and the country’s economic achievements.
Gaston Chee contribution to the memoir
The launch of the memoir also coincided with the second anniversary of Chinese President Xi Jinping’s letter to GYLD. The letter, sent to members from over 28 countries in August 2021, commended the young leaders for actively exploring different parts of China and deepening their understanding of the country. He encouraged further exchanges, mutual learning, and contributions toward a shared global future. The full text of President Xi’s letter can be accessed here.
True to President Xi’s letter, as Gaston continues to explore and understand China, he says moving to the country he calls his second home has been one of his best decisions. During an interview with Yang Rui, the former host of the CCTV show, Dialogue Programme, Gaston Chee had said, “…[I] have never been prouder of my Chinese roots until I came to China. It is a country that is far too exciting and colourful to give up on and most exciting of all, its story is still being written.”
Gaston Chee during the CCTV show, Dialogue Programme (March 2017)
Like his fellow GYLD colleagues, Gaston’s China journey is unfolding and he too continues to write his own chapter in China’s story.
LC Venture is a leading consultancy and advisory holding company registered in the UK. The company provides quality advice on strategy and business solutions to Chinese and international clients which are mainly SMEs, multinational companies, and governments. The Company is also an investor in BeGo Education, a wholly-owned portfolio investment that provides its flagship Private Family Education Office (PFEO) services, a boutique education consultancy and advisory service for HNW Chinese families.
This is the second part of a two-part series article exploring the role of education in children’s academic and personal development.
There is a unique pull of most international schools in China that provide a K-12 education that has got every parent cueing at reputable schools. One of these is the holistic education – the teaching of the total person – that most of these schools specialise.
Besides the emphasis in English language and leading curriculums, these school employ extra-curricular activities like sport as their unique selling point. International schools are popular for building cutting-edge sports facilities and running various sporting activities at school.
International schools are notable for their sporting activities
However, success at sporting activities is not automatic. Parents often complain these programs are not properly run, and there is little incentive for students to engage in sporting activities.
Most schools in China try to get the support of Associations such Association of China and Mongolia International Schools (ACAMIS), to run a total program of education and organises inter- school sport competitions. But these are mostly limited to basketball, volley ball and soccer and families who want their children to excel in wider and different sporting activities will have to look for providers elsewhere.
BeGo Education, the education brand of LC Venture, has been supporting families who are looking for differentiated services in education and in high-end sports for years. Through its Private Family Education Office (PFEO), service, BeGo Education offers boutique services tailored to High Net Worth (HNW) clients, prioritising the holistic development of each student academically and personally. This highly customised approach takes into account each student’s unique preferences, interests, and choices, ensuring a personalised experience.
These services are thoughtfully designed to align with school terms, complementing the formal education received in traditional settings. Through careful assessment of each student’s preferred sport, BeGo Education pairs each child with private coaches, distinguished retired athletes, and professional trainers to guarantee top-tier coaching.
Award winning coach AJ Roberts with BeGo Education student in London School of Basketball (LSB)
These sessions give students unparalleled access to the exclusive world of their chosen sport, immersing them in its lingo and rich tradition. Each session focuses on character development, teamwork, and discipline and students also get the added benefit of developing their language and social skills, while honing the technical skills at their sport.
Recently, a 14 -year-old boy from Beijing was matched with a professional basketballer from the US-based in London for private coaching. Training alongside peer basketballers from junior leagues, he is attending the London School of Basketball with links and mentorship commitments from top NBA stars including Michael Jordan and Lebron James.
Parents who sign-up their children for BeGo Education’s Private Family Education Office, (PFEO) also understand the wider benefits of such services. Families would gain easy access to an exclusive network of professionals and investors, and take advantage of sponsorship opportunities and industry connections. This opens doors to exciting opportunities for community building and networking, fostering valuable business relationships for them and their businesses as well. LC Venture’s investment and advisory services also provide support in this regard.
But such a level of attention and differentiations and support would be impossible to replicate within the confines of a traditional school setting. Therefore, BeGo Education services fill the gap and empower and motivate these students to excel in school sports, delivering substantial value to them, including during college applications.
“If you want to be a CEO later, play sports now”
BeGo Education, therefore, serves as an excellent choice for families looking to support their child’s journey and who are prepared to consider sport to prepare them for their future school or college applications, on top of their academic performance. However, the benefits of playing sports also extends beyond college application. There is also a direct correlation between sporting activities and success at a later stage.
Up to 95% of Fortune 500 CEOs have played college sports and they believe sporting involvement has contributed to their career success. In an article titled: If you want to be a CEO later, play sports now, CNBC says top executives of companies like Facebook, Hewlett and Packard (HP) and PepsiCo have all played sports during high school or college years. Besides, Forbes published a study where a whopping 96% of women holding a C-suite position played sports.
Through the Private Family Education Office, BeGo Education is also opening its students access to a network of high achievers, providing valuable mentoring support. Through leadership talks and one-to-one coaching, these network share their sporting journeys and show from their rich career experiences how their sporting and professional worlds overlapped.
Grace Ngau is one of the mentors at BeGo Education. She joined BeGo as a senior partner and she is also the co-founder of several companies including ONCE, a positive living lifestyle brand. She has extensive experience in working with some of the leading brands in China including Volkswagen Tesla, Dyson, Chanel Beauty. She also worked on media production that featured in the like of Cannes, Rotterdam, and Taipei Golden Horse Film Festival.
Grace supports BeGo Education students in academic skills, self-awareness and exercise and fitness. “Growing up, sports were a crucial part of my upbringing and it made me very competitive – personally and as a student.” She says.
“I was ice skating when I was 5 and received a National level 2 athlete title. I also started playing tennis when I was 6 years old. When I joined high school at the International School of Beijing (ISB), I made it to the varsity tennis and softball team.” She says. “ISB was an excellent opportunity for me to develop my game and to compete internationally for my high school.”
Grace Ngau with Varsity Girls Softball Team (3rd from right, kneeling)
When it was time to apply for college, Grace believes that her application got a boost from her sporting profile. “When I was applying to universities, I showcased my sporting profile in my applications.” she said. Grace eventually accepted a place at Boston University.
Grace says her sporting years offered her support during her undergrad years as well. “Participating in sports has made me develop sooner strong person. I was able to make friends easily and it reflected in my results. My resilience, positive attitude and mentality, and problem-solving skills all came from doing sports since I was little. That gave me the confidence and the winning mentality.”
Today, Grace plays tennis at least twice in a week and collaborates with brands like Nike and Wilson.
Grace Ngau at a tennis match in Beijing
Grace’s story also echoes the experience of every team member at BeGo Education.
Crediting his father for his running habits, Gaston Chee says he always travels with his running shoes and says it has cultivated in him the discipline and mental strength to keep pushing, despite the pressures of running a business. “My days usually begin at 4:30 am and I run an average of 5km daily, and the discipline and mental strength from this routine makes all the difference during the day on my performance,” he said.
Over the years, Gaston says this has rubbed off on the employees. “Running is not a KPI at LC Venture yet,” he says, but he admits the level of sporting activities of the team is impressive.
BeGo Education’s Senior Marketing Executive Melinda Yang also shares her own similar story. “As a busy mother of two and leading the client engagement at BeGo Education, scheduling gym sessions is challenging for me,” She says. That is when she turned to running. “I have always participated in sports and now exercising helps me to stay on top of things and maintain my health and well-being. It has become an integral part of my daily life.
Beyond personal benefits and stress management, Melinda says that running has become a family affair as well. “I take pride in setting a good example for my children by passing on these healthy habits.”
Similarly, Michael Mehari, the Head of Communication and External Relations at LC Venture, Michael Mehari also shares his colleagues’ drive. “Working out at the gym gives me that special quiet time where I get to connect with myself,” He says. Nowadays, with the warmer weather, Michael goes for a run and stretch at a local park after work. “The number of people working out in the park can be very motivating. Seeing the young and old exercising shows us that there is no excuse not to exercise,” he says.
Conclusion
As more and more schools and universities continue to focus and expand their sporting activities, inspiring students and families are increasingly aiming for a lofty targets for their children—not only in competitive athletic games but also in careers and beyond.
Kick-off your child’s journey in sports with BeGo Education’s BeGo Education Private Family Education Office and give your children the training and tools they need to have a ahead start.
For inquiries, please send your email to: info@lcventure.com
This article is part one of a two-part series that will explore the role of education in children’s academic and personal development.
The Summer World University Games just ended on the 8th of August with a resounding success. Officially opened by President Xi Jinping at the Dong’an Lake Sports Park Stadium on July 28th, the games captivated the global audiences for 11 days before drawing its curtains at the Open-Air Music Park with much fanfare.
The event marks the 32nd edition of the Summer World University Games. Previously, China had held the games in 2021 in Shenzhen and 2001 in Beijing. Staged every two years in a different city, the summer edition of the FISU World University Games brings over 8,000 of the world’s best summer sports student-athletes from more than 150 nations.
China captured an impressive highest total of 178 medals over all at the games, beating second place Japan convincingly with 93 medals. China surpassed its previous-best tally of 146 and is trailing Russia, the record holder with 287 medals.
Leading up to the games, Chengdu city also hosted the Wisdom of Youth and the Power of the FISU GAMES Conference 2023. The event was organised by The New Economy Institute, an initiative of The Centre for China and Globalization (CCG), the Beijing-based think-tank. Present at the event were Mr. Wang Huiyao, president of CCG and Yu Hongjun, former minister of international development, and Hu Shengyue, the Vice Chairman of China Public Diplomacy Association. Besides, invited delegations including Smriti Aryal from UN Women China, Tamas Hajba, from OECD, and the ambassadors of Peru, Ireland, Estonia and the Deputy Head of Mission of the Republic of Slovenia and various professionals, founders, representatives of organisations, business and entrepreneurs.
Gaston Chee, LC Venture’s Managing Partner Gaston was invited to attend a panel at the Conference. Speaking at the panel, Gaston laid out Chengdu’s rise as a city of sports due to excellent leadership of the CCP and the city municipality. He also highlighted the role sports in personal development of students, inspiring student-athletes to compete in prestigious world stages like FISU University games.
Smriti Aryal from UN Women China, also highlight how two of UN Sustainable Development Goals (SDGs) pertain to sports and athletes and how UN Women agenct is working towards equality of women through representation in competitive sports. The FISU games have been championing equality.
Sport and Education
The FISU World University Games, encapsulated by its motto “Excellence in Body and Mind,” bridges the perceived gap between sports and education. This games not only debunk the misconception that athletic pursuits and academic endeavors are mutually exclusive but also highlight the harmonious coexistence of both realms in nurturing well-rounded individuals.
Student-athletes like the sprinter Su BingTian from Jinan University, the first ever Asian-born sprinter to break the 10-second barrier and Wang Yu from Tsinghua university, who as a bronze medallist in Kazan 2013 FISU games held in Russia (both pictured below: photo by VCG Photo) are best examples of the height of student-athletes achievement in recent years.
Sporting profile and university admissions
Sporting prowess during high school can also make a significant difference in college applications. Admissions decisions tend to favour athlete-students or those with rigorous sporting profiles over their competitors.
The Nobel Prize-winning economist David Card, says that athletes-students received up to 70% higher chances of admission to Harvard. This is common across other Ivy League universities that lay heavier emphasis on sports in their admission decision in favour of non-athletes students.
The situation is no different in the UK. According to UCAS, UK universities do consider students’ sporting profiles in their admission decisions, with stronger candidates often considered for sports scholarships.
In the landscape of selective universities, sporting excellence is a valuable asset that enhances applications and improves admission prospects.
BeGo Education, the education brand of LC Venture, has been supporting families who are looking for differentiated services in education and in high-end sports for years. Through its Private Family Education Office (PFEO), service, BeGo Education offers boutique services tailored to High Net Worth (HNW) clients, prioritising the holistic development of each student academically and personally. This highly customised approach considers each student’s unique preferences, interests, and choices, ensuring a personalised experience.
We leverage this by encouraging and supporting our student’s athletic development in conjunction with their academic performance, which helps students build an impressive sporting profile and increasing their chances of admission to selective universities.
The pull of sports in no different in junior students as well. UK and US boarding schools are notable for sports such as cricket, rugby, golf, rowing, fencing, and pole vaulting. Some of these schools are even home to these sports. The game of squash began at Harrow School and rugby inherited its name from Rugby School. Schools like Eton also have sent student-athletes to the Olympics for athletics, equestrian and rowing and schools like Wellington College and King’s School Canterbury are among the best schools for athletics.
These schools are actively seeking talented athletes to bolster their competitive sports programs and they are open to recruiting internationally to attract top-tier athletes. Chinese students who excel in these high-demand sports have enjoyed a unique advantage in their applications to these schools. Conversely, Oxbridge and other competitive colleges themselves have fierce sporting competition in these sports and their admission decisions favour such applicants.
Conclusion
As we continue to navigate the intersection of sports and education in our up-coming part two of this two-part series, we recognise that holistic development fostered by sports extends far beyond the field, shaping individuals who are not only academically accomplished but also equipped with the skills and values needed to excel in a diverse and interconnected world.
Gaston Chee has achieved the coveted title of a full member of CPA Australia for mainland China, a prestigious recognition that demonstrates his exceptional expertise in the finance industry.
CPA Australia is one of the largest accounting organisations globally, boasting over 168,000 members across 100 countries and regions, and Gaston’s latest appointment acknowledges his outstanding contributions in sourcing and securing funds and investments for small and medium-sized enterprises (SMEs) and franchises.
Gaston Chee is the managing partner at LC Venture, the UK-based advisory and investment firm, where he has been actively involved in the finance and investment industry for years, leading to the successful increase of the company’s investment portfolio including a lithium battery manufacturing firm in Zhuhai, an auto parts manufacturing company in Ningbo, and YOLO Studio, the premium hairdressing and grooming studios chain across Beijing. LC Venture also fully acquired the boutique private family education Office firm, BeGo Education in 2015.
Gaston Chee, CPA
The most recent addition to LC Venture’s expanding investment portfolio is the Malaysia-based bakery chain, Jim’s Recipe, which has over 400 outlets across China alone. Collaborating with Deloitte China, LC Venture played a crucial role in facilitating the acquisition of this prominent bakery chain, by pooling in major investors and joining in the investments in the just under RMB 500 million (USD 70 million) buyout of Jim’s Recipe. This strategic move further strengthens LC Venture’s presence in the Food and Beverage (F&B) industry, building upon its extensive experience and expertise in this sector.
Under Gaston’s leadership and guidance, LC Venture has been commissioned to work on several major projects in China involving the Chinese government and its various departments, private investment banks and leading investment firms. Besides, Gaston has also been a key player in delivering several mega projects in Malaysia, including a USD 10bn port development and construction project where the UK Chancellor of Her Majesty’s Treasury and the insurance, reinsurance and risk consultant arm of the Hong Kong-based conglomerate, Jardines. Gaston has also participated in several high-profile investment deals across China, Hong Kong, Japan and South Korea involving China International Capital Corporation (CICC), China Everbright Limited, and other activities under the Belt and Road Initiative (BRI) framework.
Through his expertise in investment and finance work, Gaston has continued to establish himself as a prominent figure in the Sino-UK business space and China’s wider business interests with Southeast-Asian economies, earning him a place in many reputable memberships. Some of these memberships include board membership with the British Chamber of Commerce in China and recently his recent appointment as the Communications Director of MAYCHAM China. Gaston had also been very active with the Department of International Trade (DIT), the UK’s trade and foreign investment department where he was pivotal in securing one of the first MOUs signed between the UK government and the BRI in 2018.
Gaston is also a fellow at various research firms and thinks tanks, including the Center for China and Globalization (CGG) and it’s Global Young Leaders Dialogue(GYLD) initiative. He has worked with several firms from across South-East Asia including The Asian Banker (TAB), a banking and finance research and intelligence powerhouse focused on the Asia Pacific region. Besides, Gaston has been active with the Silk Road Cities Alliance and Silk Road City Institute, two of the earliest initiatives under the BRI Initiative.
Gaston was also appointed in 2022 as the founding member of the Regional Economic and Trade Partnership (RET Committee) Working Committee in support of the China Association of International Trade (CAIT) in China to support cross-border trading and logistics across RCEP member states.
Gaston’s induction into the esteemed CPA membership is a timely and well-deserved recognition of his extensive experience in the finance and investment industry. Through years of dedicated work, he has consistently demonstrated exceptional leadership in guiding LC Venture to stand out as a successful firm in cross-border financial investment and financial services. It also serves as a testament to his unwavering dedication and his continuous pursuit of excellence in the finance and investment industry, a proud moment for him as well as for LC Venture, and further reinforces their reputation as a trusted and accomplished firm.
Besides, as a member of CPA Australia for mainland China, Gaston will gain access to an even broader network of high-profile investors and associates in Australia and Southeast Asia through the CPA network. This will enable him to connect with more than 400 Recognized Employer Partners of CPA, including Fortune 500 companies worldwide. This network provides a platform for Gaston to further expand his business network, seek more investment opportunities, and stay updated with the latest industry trends.
Gaston Chee would like to express his heartfelt gratitude to the selection committee of CPA Australia for bestowing upon him the prestigious title of the full member for mainland China and how proud he is to join fellow CPA members. He also acknowledged the unwavering support of the LC Venture staff and commended their dedication, hard work and contribution to the success and development of LC Venture.
LC Venture’s Managing Partner and the Director of Media and Strategic Communications at MAYCHAM Gaston Chee played a major role in successfully attracting and organizing dozens of leading Malaysian and Chinese businesses operating in China to meet with the Prime Minister of Malaysia YAB Dato’ Seri Anwar Bin Ibrahim at the World China Five Star Hotel on March 31.
PM Anwar Ibrahim addresses attendees
This was during the PM’s maiden visit to China, which was deemed a historic milestone in enhancing the bilateral ties between the two nations in a post-pandemic world. During his trip, the PM met with President Xi Jinping in an encounter which he hailed as “extremely successful.” They both discussed ways to deepen collaboration and strengthen ties between Malaysia and China.
Directors of associations and business representatives join Malaysia's Prime Minister, YAB Dato' Seri Anwar Bin Ibrahim and his cabinet of ministers including the Foreign Ministry, Local Government Development, Transport, International Trade and Industry, Science and Technology and Innovation Ministry (from left to right, seated)
Gaston Chee was joined by MAYCHAM’s Chairman Loh Wee Keng and the Malaysian Ambassador to China, H.E. Raja Nushirwan Zainal Abidin, in personally hosting the Prime Minister and his cabinet of ministers which included the Foreign Minister and the ministers of Local Government Development, International Trade and Industry, Transport and Science and Technology and Innovation and Tourism. The delegation also included high-profile members such as China-ASEAN Business Association president Tan Sri Dato’Seri Lim Gait Tong and Tan Sri Francis Yeoh, Executive Chairman of YTL Corporation.
Attendees stand for the national anthem of Malaysia
The event attracted over 300 Chinese and Malaysian companies including representatives from leading firms such as CNI Enterprise (M) Sdn Bhd, Farlim Group Malaysia Bhd, Maybank, QMIS CAPITAL VENTURE SDN BHD (1127137-K), LSH Auto China, Perfect China Co Ltd, a subsidiary of Perfect Global, Deloitte China, Nomura Holdings and others. Besides, in attendance were prominent Malaysian professionals and businesses based in China. The event was an excellent opportunity for Malaysian and Chinese companies to network and learn about the plans of the current Malaysian leadership. It also brought together Malaysian and Chinese Muslims, who used the opportunity to break their fast together.
Speaking at the event the chairman of MAYCHAM Mr Loh Wee Keng expressed his gratitude to Prime Minister for his attendance and thanked the attendees and Malaysian businesses for their support. He emphasized the importance of learning about the current leadership’s ambitious plans for Malaysia’s economic rebuilding and highlighted the work that MAYCHAM, with the support of the Malaysian Embassy in China, is doing to facilitate China-Malaysia trade relations and to support Malaysian businesses operating in China. He also invited members of the Malaysian business community to join MAYCHAM and pledged that the various directorates of MAYCHAM are ready to support their operations.
PM Anwar Ibrahim encourages China-Based Malaysian businesses to consider investing at home
Gaston Chee was appointed to head the Media and Strategic Communications directorate at MAYCHAM, and he has been working with the Chinese government, various government departments and Chinese organizations and associations to facilitate business and investment in preferred sectors in China and Malaysia.
The latest visit by the PM minister was hailed as a great win for Malaysia, which was marked by the signing of 19 MOUs worth a record RM 170 billion between Malaysia and various Chinese firms, with a focus on green technology and the digital economy. The Prime Minister witnessed the signing ceremony and expressed his satisfaction with the new areas of cooperation, including new-generation car manufacturing and digital infrastructure.
Gaston Chee mingles with YTL Corporation Chairman Tan Sri Francis Yeoh
China remains Malaysia’s biggest trading partner, accounting for 20% of its annual trade volume. The successful visit and the signing of MOUs during the Prime Minister’s visit are expected to pave the way for even stronger economic ties between Malaysia and China in the future, with firms like LC Venture and MAYCHAM playing a pivotal role in fostering and promoting businesses cooperation between both countries.
The year 2022 was a very tough year for businesses in China. With the zero-covid policy firmly in place, the year began as a seeming repeat of 2021. The inbound investment was on the decline and businesses were looking for innovative ways to stay afloat.
The year also recorded some key highlights for the company. LC Venture saw its business profile expanded through the latest investment in the Malaysian-based bakery chain, Jim’s Recipe with just under 400 outlets across China and the rest of the world. Besides, YOLO Studios which is LC Venture’s lifestyle and grooming investment profile was recognised by the Beijing Municipal Bureau of Commerce and Beijing BOCOGO for its outstanding services during the Beijing Winter Olympics 2022.
Besides, the education brand BeGo Education, LC Venture’s first-ever acquisition continues to serve its select Chinese HNW families and their children. At the beginning of the year, BeGo Education launched its upgraded and polished service, the Private Family Education Office (PFEO). The upgraded services include bespoke school search and placement services which also includes undergraduate and post-graduate application and career services to the UK and US. This service has grown in popularity with many Chinese families’ for its emphasis on supporting the students and their families beyond the admission offers to include post-admission services.
The year 2022 also recorded a few glitches along the way as well. But above all, it was a year where we concluded with many great things to look forward to in 2023.
Below is a token of some of the highlights from last year.
2022 in Numbers
5 new partnerships across China and greater Asia on cross-border investments, investment banking and property developers in 3 China, Japan and Korea.
1 new addition to LC Venture portfolio – LC Venture joins a syndicate of investors to acquire a stake in Jim’ Recipe, a spongy bread chain with over 400 outlets across China.
Parent training at Park Hyatt Hotel, Beijing (Jan. 2022)
On January 15th, Billow Education successfully held the first activity of 2022 titled: “Blueprint · Step into · Growth” series – Enrollment Blueprint.
The event was part of ongoing support to our client families as they try to navigate the complex admission regulations to the various types of schools and programmes in the international school space. Especial thanks go to Thames 1, for your support and cooperation, which gives us the opportunity to better present BeGo Admission Mapping’s upgraded education services to our customers.
On the afternoon of February 25th, 2022, the event “Malaysia: Your Investment Preference” was successfully concluded at the Tropicana Investment Offices in Beijing. The event was co-organized by the Malaysian Chamber of Commerce in China and the Investment and Development Agency (MIDA) in cooperation with Tropicana Corp.
The event was also attended by MAYCHAM CHINA members, specially invited guests and interested local investors. The event focused on discussing the investment policies and exploring opportunities available for those investors who are considering Malaysia. Earlier in February, the directors of MAYCHAM CHINA also made an official visit to the Malaysian Embassy led by the Chairman to meet with the Ambassador and to discuss the current affairs of MAYCHAM CHINA.
MAYCHAM EVENT
Collaboration with Raffles HospitalBeijing
In April, Gaston Chee, the MAYCHAM CHINA committee member and Media and Strategic Communications Director led a joint effort between MAYCHAM CHINA and Raffles Hospital Beijing to successfully hosted a joint free booster vaccination campaign against COVID-19. The event was held at the premises of Raffles Hospital Beijing as part of MAYCHAM CHINA’s pledge and steadfast commitment to providing meaningful contributions and support to its members and the wider Malaysian community in Beijing and across China.
Speaking during the event, H.E. the Ambassador said that the event is a highlight in the ongoing joint effort between China-Malaysia toward the vaccination development programme. Gaston Chee, also shared his outlook with China Daily that we are witnessing a growing depth of the China-Malaysia cooperation and the coming into effect of the RCEP as further evidence of the deepening engagement in investment, education and medical services between the two countries.
On October 15th 2022, a beautiful autumn Saturday, BeGo Education held a “Mini Master Art Workshop” for young kids in the gallery hall of the luxury CHAO Hotel in Sanlitun, among the atmosphere of the exhibition The Music of Pure Abstraction – Charlie Sheard. Surrounded by 11 unique abstract artworks, 6 kids from 3.5 to 8 years old created their own abstract artwork with the support of the teacher / young artist Meng from the Central Academy of Fine Arts China. Without the stylized academic training in sketching and color, the children created works full of “instinctive” vitality. It was an afternoon that everyone, young and old, could enjoy and learn from.
The event was also an extension of LC Venture’s aspiring work and plans to expand into art collection and dealerships and various works of art and precious merchandise.
Also during the last year…
In August this year, LC Venture joined another 22 companies at a job fair organized by BeHIVE and SCOLAR at the excellent grounds of the HICOOL, an all-in-one startup ecosystem managed by the Beijing Overseas Talents Association. The job fair attracted hundreds of applicants from Beijing and surrounding cities. LC Venture is constantly looking for new talent to join the team. If that is you, you can find more information here.
Last year, LC Venture also launched its Monthly Reading Afternoons. During these sessions, each staff member would share a reading of a book they have been reading and share their ideas. These sessions are usually very lively, and besides cultivating a reading culture, they are an excellent opportunity for the team to bond and exchange views.
LC Venture has been active in the latest APEC Summit organized by the China Center for Promotion of SME Development, MIIT.
Xu Xiaolan, Vice Minister of Industry and Information Technology (MIIT) addresses the APEC Summit
The half-day, hybrid event also brought together industry representatives, MSMEs and government officials, and policymakers to exchange ideas, share practices, and help the MSMEx network. Mr SOH THIAN LAI, president of the Federation of Malaysian Manufacturers (FMM) also joined virtually from Malaysia. The FMM has actively helped Malaysian manufacturing and industrial service companies to develop and grow in many ways.
Jim’s Recipe is one of the hottest brands of “sponge cake.” It was founded in Malaysia in 2017 and proudly came to China in May 2018. Four years on, the brand continues to grow strong despite the challenging pandemic. Jim’s Recipe has just under 400 outlets in China alone.
Jim’s Recipe investors meet with Deloitte consultants (Deloitte Headquarters, Beijing)
LC Venture was among the investor syndicate which acquired a stake in Jim’s Recipe’s global business of over 500 outlets. Jim’s recipe is the latest addition to LC Venture’s growing list of investment portfolios that include the wholly-held BeGo Education and investment stakes at Zhuhai Sihai Jiuyuan Technology, KN – AUTO parts and the grooming and lifestyle chain, YOLO Studio.
Partnership and Appointments
The APT Assessment
BeGo Education will continue to support the school’s recruitment and business development efforts in Beijing and across China.
One of the newest schools in the fleet of schools from Nord Anglia Education (NAE), the NAS Shunyi Beijing is a day-and-boarding bilingual international school that offers British and Chinese curriculums to students aged 6-18. BeGo Education has also negotiated a similar agreement with Nord Anglia Education (NAE) Foshan.
NAS Beijing Shunyi
These organisations focus on assessment, consultancy and mentorship and various types of support services. Some of the most prominent include the NSA Beijing Shunyi, Academic Profile Test (APT), the CLASS Cambridge English, ViaX Online Education and others.
This year, as a continued effort to increase the strength and quality of our service, LC Venture added yet several key organisations to its excellent list of partnerships.
The English Education (TEE)
The English Education (TEE) in association with The Intac Network and Atom Learning uses the APT – The Academic Profiling Test “APT” has been developed by APT as an assessment for 6-16-year old’s in core academic areas to assess their current educational profile.
The test has been growing in popularity and is currently adapted for use as an admissions tool in various formats at many leading independent schools in the UK, including Harrow, Wellington College, Rugby School, Uppingham School, The Leys and others.
CLASS Cambridge English
Cambridge English CLsand beyond’. BeGo Education works with CLASS’s excellent staff and mentors to focus on its students who travel to the UK and the US.
LC Venture continues to seek partnerships and invited interested parties to join its constellation of businesses and operators. To explore partnerships with us, send us your inquiries here.
Gaston Chee invited to observe CPPP consultative sessions
In April last year, Gaston Chee joined a select group of ex-pats to attend a consultative session at the Chinese People’s Political Consultative Conference (CPPCC) headquarters in Beijing. Gaston was invited as part of the Global Young Leaders Dialogue (GYLD) alumni, an initiative by the Center for China and Globalization (CCG).
The move to bring in ex-pat members to witness China’s whole process of democracy and to observe and participate in the live democratic consultative sessions was the first of its kind, giving each the front seat exposure to the dynamics of China’s political meritocracy.
The CPPCC consists of delegates of the CCP, its allied front organizations, and the eight political parties formalized by the CCP, as well as nominally independent members. Past chairpersons include Mao Zedong and Deng Xiaoping. Wang Yang currently chairs the CPPCC since March 2018.
Early last year, Gaston Chee was appointed to be the Director of Media and Strategic Communications the MAYCHAM CHINA (Beijing Chapter) effective immediately. Working closely with the chairman and the various directorates at MAYCHAM CHINA Beijing, Gaston will support in creating a viable platform for Malaysian businesses to expand and explore markets in China and vice-versa.
Prior to his appointment, Gaston has been an active member of the Malaysian community in Beijing and had been closely working with MAYCHAM CHINA Beijing and the Malaysian embassy. Gaston had also been appointed to the board of the British Chamber of commerce in China in 2017 to support trade and business exchange between China and the UK. Gaston Chee appointed for RET/CAIT founding committee
In September last year, Gaston Chee was appointed as a founding member of the recently formed Regional Economic and Trade Partnership (RET Committee) Working Committee. The Committee is set up by the China Association of International Trade (CAIT), an authoritative academic organization for foreign economic and trade research and exchanges composed of people from all walks of life such as the government, academia and enterprise9 under the direct leadership of the Ministry of Commerce of the People’s Republic of China.
The Committee will focus on promoting economic, trade and industrial cooperation and exchanges between China and RCEP members. It will also explore efficient and effective ways to assist Chinese enterprises to find overseas markets. Gaston Chee will represent Malaysia on the Committee but will also act as the core member to promote the work of the Committee to explore China’s opportunities in South-East Asia and vice-versa.
The Committee will focus on promoting economic, trade and industrial cooperation and exchanges between China and RCEP members. It will also explore efficient and effective ways to assist Chinese enterprises to find overseas markets. Gaston Chee will represent Malaysia on the Committee but will also act as the core member to promote the work of the Committee to explore China’s opportunities in South-East Asia and vice-versa.
The Jiangyin Volunteer family reunion Association helps unite families that were separated for many decades, especially those who were given in adoption to families abroad. Last year, we continued with our pledge and continued to support the Volunteer’s Association as more and more requests kept coming from Chinese ethnics looking for their biological families in China.
Read at past events where LC Venture and BeGo Team were directly involved in the reuniting efforts here.
On the 29th of April, Gaston had the opportunity to speak to a group of exceptional Malaysian students studying at Chinese universities on career development and the future of jobs during the first-ever Virtual Career Fair (VCF) organised by the Malaysian Students Association in China (MSAC).
The Virtual Career Fair (VCF) is an online platform for Malaysian students to learn about potential employers and career options. Through a series of events, participants will be well prepared for interviews and provided with employment information and opportunities. Companies are also able to identify and recruit outstanding Malaysian talents studying in China.
Last October, CCTV’s off-shot paper Voice of the South Sea crew visited the LC Venture offices to conduct an in-depth interview with Gaston Chee, about his China journey. In a programme named, “My 10 Years of Entrepreneurship in China”: Gaston shared his business journey since 2012. You can watch the video here.
10 years in China
Connexel survey and Exam cancellations
Last June, the Boarding School Association (BSA), The British Council and Connexcel, a UK-based education agency jointly conducted a survey focused seeks to investigate the satisfaction levels of Chinese parents sending their children overseas to UK boarding schools during the COVID-19 pandemic. Over 880 Chinese families took part in the survey, most of which were current families whose children are studying in the UK. A small number of these were also prospective parents, who are in the process of applying to these schools or thinking about it.
BeGo Education’s Michael A. Mehari had the privilege to interview Mrs Caroline from BSA, John Zhang from Connexcel and Fraser Deas from British Council China who was the producers of the report.
YOLO Studio, a star styling and grooming store was awarded the honorary plaque of “Commercial Service Guarantee Unit for the 2022 Winter Olympic and Paralympic Games” by the Beijing Municipal Bureau of Commerce and Beijing BOCOG.
YOLO founder with IOC president during the 2022 Beijing Olympic Games
Founded by Zhu Youcheng, YOLO studio is known for offering premium styling and grooming services across its several stores in Beijing. Owing to the quality of services, and after a rigorous bidding and vetting process against hundreds of providers, YOLO was the only firm tasked with grooming athletes during the 2022 Winter Olympics held in Beijing from February 4 -20.
In the weeks leading up to the Olympics games, BeGo Education staff had also given basic English conversation training to YOLO staff which they found very helpful in their work.
What is in store for 2023?
China Opening-up
The Year 2022 also saw the end of a 3-year zero-covid policy in December last year. The borders are now open and inbound international travel is pushing to pre-covid levels. As travel resumes to and from China, we are keen to witness the resumption of business opportunities in the new year 2023.
This year, BeGo Education has revamped its Private Family Education Office (PFEO) services. The flagship product of BeGo Education, the education brand wholly owned by LC Venture. The service continues to develop and expand. This year, the services were offered to more than 15 families, with a combined number of 30 students aged from 3.5 to 21 years.
Private Family Education Office
In the coming year, BeGo Education will continue to hone the quality and breadth of its service.
At LC Venture and across its holdings, we have always adhered to the strategy of hiring and developing talents and the coming year will not be an exception. We have current and soon-opening posts and we invite all interested to join our vibrant and exceptional talents. This year LC Venture had re-launched its popular Internship Program and we hope to attract and develop raw talent.
LC Venture and its Education brand is constantly looking for talent to add to its existing staff and actively invite those who would consider joining us. If that is you, find out what is on offer here and submit your application TODAY!
New Year 2023
While saying goodbye to 2022, we look forward to 2023 with the excitement for the new year’s challenges and great opportunities awaiting us. Follow us as we prepare to serve our customers, clients and associates better in the coming year.
Wishing you and your family a Happy New Year of the Rabbit!
In the latest bid to diversify its investment portfolio, LC Venture led a conglomerate of A-list investors to invest in Jim’s Recipe, a Malaysia-based bakery chain that sales top-quality sponge cakes and pastries.
LC Venture played a major role in securing the investment through its network of partners and associates and also securing the services of Deloitte China, one of the four leading accountancy and consultancy firms globally. The A-series investment had an initial target to raise US 30 million by 2023 on an initial valuation of US 100 million. The company plans to going public via IPO in 2026.
The investors at Delloitte Offices in Beijing
Jim’s Recipe brand was first founded in Malaysia in 2017. It first emerged in Puchong, Selangor as a newbie and due to a sudden rise in popularity, it managed to expand its businesses to 50 outlets in 4 short months, becoming the hottest sponge cake brand around.
In 2018, Jim’s Recipe officially opened its first store in Jiangmen, in a step to venturing into the Chinese market. Today, there are over 400 stores worldwide. The latest store to open will be in the US. The goal of Jim’s Recipe is to ensure that all products are made from the same recipe, using the finest ingredients, to create the original and traditional taste of sponge cake that everyone loves.
YOLO Studio, a star styling and grooming store was awarded the honorary plaque of “Commercial Service Guarantee Unit for the 2022 Winter Olympic and Paralympic Games” by the Beijing Municipal Bureau of Commerce and Beijing BOCOG.
Honorary plaque of “Commercial Service Guarantee Unit for the 2022 Winter Olympic and Paralympic Games” Given to YOLO Studio by the Beijing Municipal Bureau of Commerce and Beijing BOCOG.
Founded by Zhu Youcheng, YOLO studio is known for offering premium styling and grooming services across its several stores in Beijing. Owing to the quality of services, and after a rigorous bidding and vetting process against hundreds of providers, YOLO was the only firm tasked with grooming athletes during the 2022 Winter Olympics held in Beijing from February 4 -20
YOLO and Mr. Zhu Youcheng received recognition for grooming more than 2,000 domestic and foreign athletes and their team members.
The International Olympic Committee (IOC) President Thomas Bach shared his admiration of the premium services at the Olympics and described Youcheng as “unique and only a true artist.” He also praised the warmth of the service, the advanced technology and the care taken for safety and quality.
YOLO Studio founder ZhuYoucheng with IOC
President Thomas Bach at the WInter Olympics 2022
YOLO was especially recognised for joining the service team at the Winter Olympic Games, making logistical and staff commitments and demonstrating the responsibility and philanthropy of the YOLO Studio team to participate in the national cause and selfless dedication.
Moreover, YOLO was praised for putting at the centre stage the glorious mission of presenting the world with a “safe, simple and wonderful” ” Chinese hospitality and ensuring that all participating athletes and staff of the Winter Olympics get safe and ready grooming services within the Olympic village.
The Beijing Organizing Committee for the Winter Olympic and Paralympic Games said that hosting the 2022 Games in Beijing is a solemn commitment of a thriving, open and confident China to the international community.
Over the past seven years, under the strong leadership of the CPC Central Committee and with the strong support of the central government departments, provinces, autonomous regions and municipalities, and all sectors of society, the Beijing Organizing Committee for the Winter Olympic Games has successfully implemented the concept a green, open and clean hosting of the Games. It has successfully brought over 300 million people to participate in ice and snow games and wrote a sequel to the success story of the Olympic Games of 2008.
YOLO Studio was founded in 2012 in China. Representing the acronym “You Only Live Once – YOLO”, the franchise also operated in Japan, South Korea, Europe and the United States relating to everything related to fashion and another styles-based trends of hair, high-end styling and is committed to providing customers with one-stop high-end makeup and styling beauty salon. There are a number of stores in the core business district of Beijing, and the YOLO team regularly provides professional hair styling services for local celebrities and during large-scale events.
YOLO Studio is part of LC Venture’s investment portfolio which also includes auto part manufacturer KN- Auto, lithium battery manufacturing factory Zhuhai Sihai Jiuyuan Technology and the latest, Jim’s Recipe, a Malaysia-based bakery.
LC Venture is a leading consultancy and advisory holding company registered in the UK. The company provides quality advice on strategy and business solutions to Chinese and international clients which are mainly SMEs, multinational companies, and governments. The Company is also an investor in BeGo Education, a wholly-owned investment portfolio of LC Venture. BeGo Education operates a bespoke international education consultancy to support Chinese families find a suitable international education pathway for their children in international schools in China or abroad in the UK and other destinations.
Gaston Chee was appointed as a founding member of the recently formed Regional Economic and Trade Partnership (RET) Working Committee. The Committee will be operating in support of the China Association of International Trade (CAIT), an authoritative academic organization for foreign economic and trade research and exchanges composed of people from all walks of life such as the government, academia and enterprise9 under the direct leadership of the Ministry of Commerce of the People’s Republic of China.
The Committee will focus on promoting economic, trade and industrial cooperation and exchanges between China and RCEP members. It will also explore efficient and effective ways to assist Chinese enterprises to find overseas markets, with the same motive to serve overseas enterprises to find Chinese partners, and expand multi-faceted and multi-channel cooperation and development of regional economy and trade.
Guided by CAIT ideals, RET is expected to establish platforms to serve RCEP member organizations to achieve sustainable cross-border trade activities, create a workable quality supply chain system and synchronize regional new products. RET Committee with also organize targeted small and medium size conferences and forums, extended exhibitions with ground wholesale and retail operators and other activities for RCEP member countries that include investment, cultural exchange and tourism of various countries.
According to the RET Commission’s working publication, the committee is planned to hold an international trade forum every year and hold 2 city road shows every year. Besides, the commission has set an ambitious plan to introduce new merchandise and products from member states.
RET founding Committee membership will include countries like Indonesia, Singapore, Malaysia, The Philippines, Thailand, Brunei, Vietnam and other relevant national/regional institutions.
Founded in July 1981 in Beijing, the China Association of International Trade (CAIT) is an authoritative academic organization for foreign economic and trade research and exchanges composed of people from all walks of life such as the government, academia and enterprise9 under the direct leadership of the Ministry of Commerce of the People’s Republic of China.
Gaston Chee joined a select group of ex-pats to attend a consultative session at the Chinese People’s Political Consultative Conference (CPPCC) headquarters in Beijing held on the 15th. Gaston was invited as part of the Global Young Leaders Dialogue (GYLD) alumni, an initiative by the Center for China and Globalization (CCG).
The move to bring in ex-pat members to witness China’s whole process of democracy and to observe and participate in the live democratic consultative sessions was the first of its kind, giving each the front seat exposure to the dynamics of China’s political meritocracy.
During the round table meeting, attendees were given the opportunity to express their impressions of the people’s democratic process and contribute to a live consultative session and share their suggestions and recommendations with the governing body of the CPPCC.
CPPCC Consultative Session
CPPCC Consultative sessions make up the bulk of policy recommendations that are discussed by the CPC Central Committee. They mainly focus on state policies, and discussion on pressing special issues, vigorously enhancing the scientific and democratic decision-making of the ruling party.
These consultations cover a range of issues ranging from public services, high-tech industries and the digital economy, to access to health services and online quality education and many others. In January 2022, the Committee on Proposals of the CPPCC announced 60 winners of the Proposals from the previous year.
The CPPCC consists of delegates of the CCP, its allied front organizations, and the eight political parties formalized by the CCP, as well as nominally independent members. Past chairpersons include Mao Zedong and Deng Xiaoping. Wang Yang currently chairs the CPPCC since March 2018.
Speaking to the presiding committee during the latest round of consultations, Gaston highlighted the unique opportunities China offers to the world and shared his recommendations for the review of policies related to various investment opportunities and ease of access to foreign investors in key areas.
CPPCC Headquarters (photo credit @YoungDialogue)
Gaston specifically expounded on the importance of attracting and retaining the right global talent to ensure China meets its developmental goals. He also laid pertinent issues for ex-pat business communities in China, mainly the pressing issue of ex-pat visas, ease of doing business and international travel restrictions due to the global pandemic. Gaston’s fellow alumni from GYLD also said how the visit opened their eyes to the dynamics of China’s political discourse and asked for more such visits in the future.
Speaking after the visit, Gaston also thanked the organizer and especially the GYLD for the invitation and said that through these consultative sessions, he hopes to work closely with the CPPCC focusing on the investment environment for ex-pat community.
Areas of higher emphasis would be investments, especially in the education sector, student enrollment policies at international schools, border opening and the ex-pat PR scheme to encourage the businessmen women and professionals in China who stayed behind during the height of the pandemic and continue to operate in the country.
The Center for China and Globalization (CCG)’s GYLD did an excellent video about the visit and you can watch it here.
Early this month, Gaston Chee was appointed to be the Director of Media and Strategic Communications the MAYCHAM CHINA (Beijing Chapter) effective immediately. Working closely with the chairman and the various directorates at MAYCHAM CHINA Beijing, Gaston will support in creating a viable platform for Malaysian businesses to expand and explore markets in China and vice-versa.
Prior to his appointment, Gaston has been an active member of the Malaysian community in Beijing and has been closely working with MAYCHAM CHINA Beijing and the Malaysian embassy. Gaston had also been appointed to the board of the British Chamber of commerce in China in 2017 to support of trade and business exchange between China and the UK.
The MAYCHAM CHINA Beijing
The latest appointment comes as a recognition of his efforts in support of the Malaysian business community in Beijing explore opportunities locally and in the wider South-Asian markets and the EU. Gaston’s appointment also came at an exciting time for the Indo-pacific region, with the coming into force of the the Regional Comprehensive Economic Partnership (RCEP), the free trade agreement among 15 Asia-Pacific nations.
MAYCHAM CHINA has been supporting the Malaysian business community since its registration on August 19, 2003, by promoting trade and exchange between China and Malaysia and strengthen the economic relationship between the two countries.
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