Victor Fung

Li & Fung plans to replace Bruce Rockowitz as chief executive by the son of a co-founder of the firm. Photo: David Wong

Li & Fung needs to focus on its core businesses - and get rid of the rest

Investors should be sceptical of any company that heavily depends on a strategy driven by acquisitions and restructuring, but Li & Fung's appetite for deal-making, which chief executive Bruce Rockowitz claims offers "huge synergies", is looking less credible by the year.

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