The VALLES Group of Company's traces its roots to Shanghai, when at the turn of the century it was founded as Tai Chong Cheang, as custom broking house headed by Mr. C.S Koo as General Manager. His eldest son, Mr. K. M. Koo joined the broking house when he came of age and worked his way up to Manager of the organization.

Tai Chong Cheang flourished as a custom broker and by natural extension of the business, in 1926 acquired three second hand steamships to trade in the Yangtze river and near coastal trade. Just before the commencement of the Second World War, the Company owned and operated a number of ships, including passenger ships which provided a service beyond the coastal waters of China. The Company operated out of Shanghai until 1949 by which time China was re-organizing itself internally and it was decided to move to Hong Kong to take advantage of Hong Kong's growing presence as an international port and gateway to post war China. The Koo family left Shanghai on the 16th of May 1949 by a chartered aircraft after which the airport at Shanghai was closed down and only re-opened in the 1960's.