The Kho family, which established the 40-year-old conglomerate The Kho Group (TKG) in the Philippines, is setting up a family office in Hong Kong. InvestHK, a government department responsible for foreign direct investments in Hong Kong, made the announcement, adding that the development demonstrates the city’s position as the leading hub for family offices. TKG executive vice president James Fok said the move to establish a family office reflects the group’s unwavering confidence in Hong Kong’s status as a leading international financial center. TKG mainly covers five businesses, namely the supply of natural resources, shipping business, land and property development, high-end retail, and investment management.