Cheung Kong Property to change name in bid to reflect ‘sustainable business growth’ strategy

Cheung Kong Property Holdings, controlled by tycoon Li Ka-shing, has proposed to change its English name to CK Asset Holdings in order to better reflect its strategy “to achieve long-term sustainable business growth and value creation” through investments that include property, infrastructure, and aircraft leasing.

The company also said it had completed the acquisition of Canadian building equipment service firm Reliance and would sell a 25 per cent equity interest of Reliance to Cheung Kong Infrastructure (CKI) for C$714.92 million (US$565.32 million).

The transaction is pending the approval of CKPH shareholders.

“The transaction would provide synergy effect to both CKPH and CKI and allow them to share their

management and strategic expertise in the management and operation of the Project Group,” the filing said.