Peter Wong says the era of double-digit growth in Hong Kong's energy sector is over. Photo: Thomas Yau

Towngas to spin-off business 'when time is ripe': CEO Peter Wong

Wong's comments follow an announcement last month by Li Ka-shing-controlled utility Power Asset Holdings that will spin-off its local electricity distributor, Hong Kong Electric. Li is reportedly seeking to raise as much as US$5 billion. Wong said Towngas was in no hurry to spin off its division.