Wai Kit is a co-founder and partner of Gobi Partners. He has over fourteen years of management, investment and mergers and acquisitions experience in Asia, and previously he joined WI Harper Group ("WIH") in 2001 as Managing Director with an extensive track record in the TMT industries. In 1999, Wai Kit led a consortium of investors in acquiring a minority stake in PT Satelit Palapa Indonesia. PT Satelit Palapa Indonesia was the owner of one of the two satellites of Indonesia and the third largest mobile carrier in Indonesia. Within two years, he successfully concluded a profitable sale of the investment to IndoSat.
In 2000, Wai Kit was headhunted to become the Chief Financial Officer of Asia2B, a portfolio company of WIH and the then largest e-commerce infrastructure services collaborator in Hong Kong joint ventured by eight blue chips and multinationals from China, Hong Kong and the U.S. Wai Kit built the Beijing and Shanghai operations of Asia2B in less than four months and spearheaded the merger and acquisition activities of the company. After noticing the adjustment in the technology market, Wai Kit worked closely with Asia2B's Chairman, Thomas Tsao, in structuring and concluding the merger of the company with SESAMi.com, the B2B subsidiary of SingTel.
Wai Kit has accumulated invaluable experience in the media sector within the Greater China region. He was appointed director of the Hong Kong-based China Films and Video Group in 1996 and contributed to the Group's expansion into the Mainland China media market until 1999. He was also financial advisor of Paramount Publishing Group Limited, a Hong Kong-based publishing house specializing in financial press and printing. In 1997, he was appointed by the controlling shareholder of Paramount to take charge of the corporate finance and business development activities of Paramount. In this capacity, he architected several new issues and convertible bond issues for Paramount and facilitated the reverse takeover of Paramount by the Next Media Group in 1999. From 1997 to 1999, Wai Kit also served as financial advisor of China International Television Corporation, the then commercial and distribution arm of China Central Television Station, to advise the state-owned media company in its corporate finance activities and related strategic matters.
Wai Kit was appointed Vice Chairman and Chief Operating Officer of Seapower Financial Services Group ("SFSG") in 1994 to oversee its day-to-day operations, financial management and corporate development. He was instrumental in building the corporate finance and asset management businesses of SFSG, which was one of the most active underwriters of "H" share and "B" share issues in Hong Kong in 1996 and 1997. In 1998, Wai Kit and other senior executives of SFSG acquired the institutional business of SFSG and later sold the business to Dresdner Kleinwort Benson and Shanghai Industrial Holdings Limited. After the SFSG transaction, Wai Kit served as Executive Director of the Wah Tak Group in charge of the financial management and corporate development of this China-based US$200 million turnover motorcycle manufacturer.
Prior to his investment banking career, Wai Kit practiced corporate and securities laws in the Hong Kong and United States offices of Baker & McKenzie. He is a law graduate from the University of Hong Kong and is a qualified lawyer in Hong Kong, California, Singapore, and England and Wales. He also received Certificate in Economic Law, Certificate in Civil Law, Certificate in Criminal Law, Certificate in International Law, and Certificate in General Legal Principles from Zhongshan University in China.
Wai Kit is an independent non-executive director of four publicly listed companies, Tianjin Development Holdings Limited, China Insurance International Holdings Company Limited, Shandong Weigao Group Medical Polymer Co., Ltd. and WSP Holdings Limited. He also served as assessor of the Small Entrepreneur Research Assistance Program of the Hong Kong Government’s Innovation and Technology Fund from 2000 to 2006.