The Lands Department has threatened to take legal action if it finds buyers of Cheung Kong's controversial hotel project living in the units. The warning came as 95 per cent of the investors in...
- Mon
- Mar 4, 2013
- Updated: 7:01pm
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Cheung Kong
Hutchison Whampoa is a Fortune 500 company and one of Hong Kong’s largest listed companies. It is 49.97 per cent owned by the Cheung Kong Group, a property company. Hutchison’s origins date back to two companies founded in the 19th century – Hong Kong and Whampoa Dock, established in 1863 by British merchant John Duflon Hutchison, and Hutchison International in 1877. In 1977, Hutchison became Hutchison Whampoa Ltd. Its operations include ports, with operations across Europe, the Americas, Asia, the Middle East and Africa, property and hotels, retailing through AS Watson & Co, PARKnSHOP supermarkets, Fortress electrical appliance stores, telecommunications through Hutchison Telecommunications International Ltd. It is also involved in infrastructure through its infrastructure arm, Cheung Kong Infrastructure, and has an interest in Hongkong Electric Holdings (HEH), the sole electricity supplier to Hong Kong Island and Lamma Island. Hutchison is also a major shareholder of Husky Energy, one of Canada’s largest energy and energy related companies. It is headed by Li Ka-shing, Asia’s wealthiest man, who has been nicknamed “Superman” because of his investment prowess.
Between the four buyers they bought three units at the Apex Horizon in Kwai Chung in a provisional agreement reached last Wednesday, but it emerged yesterday that they were given what a lawmaker...
It comes down to supply and demand. The hefty 15 per cent stamp duty imposed on non-local buyers, which was put in place last year to curb speculation, has discouraged a number of buyers. But no...
Perpetual bonds have become a popular investment among private investors. In this yield-hungry environment, investors have been enticed by the headline coupons offered by perpetual bonds.
A Lands Department letter leaked by the Civic Party has sparked a heated exchange between the administration and property giant Cheung Kong over its controversial sale of hotel suites. The letter...
Every society has its share of greed, but it seems like ours is consumed by it. As a developed city and financial centre, I can understand Hong Kong having the big-scale greed we see in Wall...
Buyers of units in the Apex Horizon hotel may risk financial burdens despite avoiding stamp duties by making the controversial purchase, property experts warn. This week property giant Cheung Kong...
The government says it will "follow up" on Cheung Kong's sales of hotel suites, but experts say it will be difficult to check if buyers are breaking hotel regulations by treating their units as...
Property giant Cheung Kong's selling of 360 units in the Apex Horizon hotel in Kwai Chung has stirred up public anger and political and legal interest. The issue is the unfairness of the exemption...
Say what you will about Cheung Kong supremo Li Ka-shing and his beloved lieutenant Justin Chiu Kwok-hung, the property duo certainly know how to stick it to the government and its recent measures...
Sales of hotel rooms as residential flats will cut the city's supply of accommodation and harm tourism, the Tourism Board has warned. The comment came after property giant Cheung Kong started on...
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