Li Ka-shing

Tycoon Li Ka-shing still paying down HKU's medical school donation

PUBLISHED : Wednesday, 28 August, 2013, 4:20pm
UPDATED : Thursday, 29 August, 2013, 4:54am

Hong Kong’s richest man Li Ka-shing is still paying down the HK$1 billion donation he promised to the University of Hong Kong’s medical school eight years ago, the institution’s vice chancellor said on Wednesday.

HKU’s medical faculty in 2005 was renamed as the Li Ka-shing Faculty of Medicine in recognition of the property tycoon’s promised donation.

Speaking at a media session during the university’s inauguration ceremony, vice chancellor Tsui Lap-chee said the university had not yet received the entire donation, which was being paid in instalments.

Tsui declined to reveal how much Li had already paid, saying this was part of an agreement with the businessman.

“Mr Li has not renegaded on his promise with us and has continuously donated to us,” Tsui said.

Legislator Kwok Ka-ki, a HKU medical school alumnus who had opposed the renaming medical school, said he was shocked to learn the university had not received the full donation after eight years.

He said in doing so Li had disappointed other alumni and teachers.

Li, 85, ranks as the eighth richest person on the 2013 Forbes’ world billionaires list with an estimated wealth of US$31 billion (HK$241.8 billion).