It certainly looks like butter - and the shelf label says “salted butter plus vegetable oil”, though apparently the official name is "President’s Ambassador Salted Culinary Fat Blend" (which really sounds delicious, doesn't it). 

What is the first ingredient?  Hydrogenated vegetable oil.  There is some butter, but it’s the third ingredient, so probably less than 20%.

President should be thoroughly ashamed of themselves for selling this product in Hong Kong.

Yes, it does contain trans fats.

[See also a later post about this product containing glycidol and 3-MCPD]  .