Vinci Wong Applies for Bankruptcy; Prestigious Family Background Unveiled

Earlier, the gay reality show 'Boycation Too', produced by Hong Kong star Vinci Wong, garnered enthusiastic responses. During an interview, he revealed that the production cost of the show was HKD 4 million (approximately MYR 2.28 million), which included a six-day shoot in Bali, all self-funded. On the 16th, news suddenly broke that he had filed for bankruptcy on his own!

According to the website of the Hong Kong Judiciary, a person named Vinci Wong, a shareholder of Wang's Construction Holdings (00532), has personally filed a bankruptcy petition with the High Court; the case is scheduled for a bankruptcy petition hearing on January 21, 2025. According to reports, a financial company also filed a claim against Vinci Wong for about HKD 3 million (approximately MYR 1.71 million) last week.

Subsequently, Vinci Wong posted on social media admitting to applying for bankruptcy: “I'm sorry to have worried everyone. Regarding this difficult decision, it was made after careful consideration and consulting various opinions. If different stages of life are like weather, surely I am about to face a harsh winter, but I will definitely not give up on the future, and will continue to face it actively and strongly!” He also mentioned that since the case has officially entered legal proceedings, he is temporarily unable to respond further.

Vinci Wong is the grandson of Wong Wah Cheung, the founder of Hong Kong-listed company Wang's Construction Holdings. It's rumored that the family possesses assets worth HKD 3 billion (approximately MYR 1.7 billion). He has served as the chairman of Tung Wah Group of Hospitals and is also active in the entertainment industry. The revelation of his bankruptcy filing has shocked many.

It is widely known that bankrupt individuals cannot lead a luxurious lifestyle, such as taking taxis without sufficient reason, or funding their own travels. If they are still employed, any remaining balance after essential expenses must be used to repay debts. Bankrupt individuals are also required to surrender valuable items for sale to offset debts, like properties and jewelry. According to Yahoo Finance, before announcing bankruptcy, Vinci Wong resigned as executive director of Wang's Construction Holdings on November 5 due to 'personal reasons'. The Stock Exchange's equity disclosure showed that Vinci Wong had earlier gifted some of his shares to others on October 10.