• Thu
  • Jul 10, 2014
  • Updated: 3:36pm

Cheung Kong Holdings

Hutchison Whampoa, one of Hong Kong’s largest listed companies, is controlled by  Cheung Kong Group, a property company. Hutchison's operations span ports, property and hotels, retailing, power generation and telecommunications. It owns Cheung Kong Infrastructure, and  is headed by Li Ka-shing, Asia’s wealthiest man. 

Big Spender's wheels 'going for a steal'

PUBLISHED : Monday, 21 December, 1998, 12:00am
UPDATED : Monday, 21 December, 1998, 12:00am

The yellow Lamborghini once owned by executed crime boss 'Big Spender' Cheung Tze-keung is for sale at $900,000 - less than one-third the cost of a new model, sources say.


V12 Diablos, such as the one belonging to Cheung's family, sell for more than $3 million at the showroom of their sole importer, Kingsway Cars in Causeway Bay.


A car dealer said the value of Cheung's car had plummeted after his execution in Guangzhou, because of superstitions about buying dead people's property.


Cheung's family would be lucky if it could get more than $900,000, he said.


'Driving a Lamborghini is just for show in Hong Kong as there is nowhere to open it up on a long road - it's a status symbol which Hong Kong people love,' he said.


However, Motor Traders Association vice-chairman Michael Rushworth disagreed, saying Cheung's notoriety was the car's main attraction and would increase its value.


Mr Rushworth said the market for second-hand luxury cars was strong despite the recession.


'There are still people out there wanting this type of equipment and [Cheung] is still a big talking point around town so his car would be quite sought-after by some,' he said.


Mr Rushworth said the car could fetch as much as $2.3 million.


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