Adrian Cheng sharpens focus on 'transformative industries' under new firm ALMAD Group

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and the Middle East, as well as mainland China, with a mission to break "boundaries in digital and virtual assets", it said in a statement. The group owns the "K11 by AC" brand."We are living in an era of profound change in the global economy, where new frontiers are emerging at an unprecedented pace," the 45-year-old entrepreneur said in the statement.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team."We are determined to build ALMAD Group as a movement propelling this shift, investing in transformative industries in emerging markets such as Asean and the Middle East, while advancing globally in digital assets and cultural industries."Apart from culture and healthcare, Hong Kong-based ALMAD's operations also cover entertainment, sports, media, commercial management and cultural tourism."Our mission is clear: to build what the next generation needs and to shape a future economy filled with possibilities," Cheng, the former executive vice-chairman and CEO at NWD, said.General view of the K11 Musea mall in Tsim Sha Tsui, a commercial property spearheaded by Adrian Cheng Chi-kong during his tenure at New World Development. Photo: Jelly Tse alt=General view of the K11 Musea mall in Tsim Sha Tsui, a commercial property spearheaded by Adrian Cheng Chi-kong during his tenure at New World Development. Photo: Jelly Tse>Harvard-educated Cheng's new enterprise reflects his previous efforts at NWD to move beyond property development into areas like arts and culture, technology and environmental sustainability.The industries targeted by ALMAD not only show strong commercial viability, but have the potential to shape the global economy in the next 20 years, according to the group's statement.Cheng's announcement of ALMAD followed his resignation as non-executive director of NWD, which became effective on July 1.At that time, Cheng said he would "devote more time to public services and other personal commitments", according to a filing to the Hong Kong stock exchange.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,691.81 +27.45 (+0.41%)Dow 3046,369.32 +54.05 (+0.12%)Nasdaq22,783.10 +151.62 (+0.67%)Russell 20002,457.58 +8.81 (+0.36%)VIX15.85 +0.40 (+2.59%)Gold3,781.60 +75.80 (+2.05%)PortfolioSign in to access your portfolioSign inTop gainersMTSR Metsera, Inc. 53.98 +20.66 (+62.00%)QMMM QMMM Holdings Limited 106.56 +23.72 (+28.63%)DGNX Diginex Limited 17.46 +3.85 (+28.35%)BBAR Banco BBVA Argentina S.A. 9.93 +1.74 (+21.20%)GGAL Grupo Financiero Galicia S.A. 31.74 +5.29 (+20.00%)Top losersCOMP Compass, Inc. 7.78 -1.62 (-17.29%)MENS Jyong Biotech Ltd. 57.70 -7.92 (-12.07%)QUBT Quantum Computing Inc. 20.68 -2.59 (-11.13%)FORD Forward Industries, Inc. 27.45 -3.01 (-9.87%)PTRN Pattern Group Inc. 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