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.
2022 Company Events
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.
Collaboration with Raffles Hospital Beijing
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.
Rendezvous with Charlie Sheard at CHAO Hotel Art Center
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 in 2022
LC Venture has been active in the latest APEC Summit organized by the China Center for Promotion of SME Development, MIIT.
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.
You can read more about it here.
LC Venture acquires a stake in Jim’s Recipe
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.
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.
Or you can email us at: info@lcventure.com
IN FOCUS: Gaston Chee
IN FOCUS: Gaston Chee
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.
NEW APPOINTMENTS
Gaston appointed to MAYCHAM CHINA
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.
Corporate Social Responsibility (CSR)
Volunteers Association in Jiangyin to help unite long-lost Chinese relatives
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.
Gaston speaks to Malaysian international students in China on employment matters
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.
Read it all here.
Media features and publications
CCTV’s Voice of the South Sea (南海之声) interviews Gaston Chee at the LC Venture Offices
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.
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.
The full text of the article is available here.
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.
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.
Private Family Education Office (PFEO)
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.
In the coming year, BeGo Education will continue to hone the quality and breadth of its service.
Hiring and staff up-skilling
Global Talent Internship Programme (GTIP)
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!
