https://www.scmp.com/rss/27306/feed Hutchison Whampoa, one of Hong Kong’s largest listed companies, is controlled by Cheung Kong Group, a property company. Hutchison's operations span ports, property and hotels, retailing, power generation and telecommunications. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Aileen Chuang Aileen Chuang The Tsz Shan Monastery, built by the Li Ka Shing Foundation, has published a new book, offering a peek into the philosophy and wisdom of Hong Kong’s wealthiest man, whose own rags-to-riches life story has inspired generations of entrepreneurs. Titled “Eternity in Light”, the five-chapter tome was published to mark the monastery’s 10th anniversary, featuring writings by scholars of Buddhism and professors of architecture about the landmark in Tai Po in Hong Kong’s New Territories. The Li Ka Shing... https://www.scmp.com/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed https://www.scmp.com/business/companies/article/3321003/tsz-shan-publishes-10th-anniversary-book-offering-peek-li-ka-shings-philosophy?utm_source=rss_feed Thu, 07 Aug 2025 00:30:10 +0000 Enoch Yiu,Cao Li Enoch Yiu,Cao Li CK Hutchison Holdings’ US$23 billion plan to sell its worldwide ports to BlackRock just needs the support from 15 per cent of the minority shareholders to carry the day, and the flagship company of tycoon Li Ka-shing is dangling a bonus estimated at HK$25 per share to sway their vote. The threshold is low, because Li and his elder son Victor control 30.43 per cent of Hutchison – almost 24 per cent of that in a trust under the name of the nonagenarian tycoon and the balance in a string of nominee... https://www.scmp.com/business/companies/article/3303376/hutchisons-hk25-bonus-key-15-vote-minorities-back-us23-bln-blackrock-deal?utm_source=rss_feed https://www.scmp.com/business/companies/article/3303376/hutchisons-hk25-bonus-key-15-vote-minorities-back-us23-bln-blackrock-deal?utm_source=rss_feed Fri, 21 Mar 2025 11:00:19 +0000 Peggy Sito Peggy Sito CK Hutchison Holdings (CKH) is stepping back from the business of seafaring commerce, as rising US-China tension and an unfolding worldwide trade war signal choppy times ahead for the port operator. Billionaire Li Ka-shing’s company announced overnight that it would sell 80 per cent of Hutchison Port Group, which owns 43 container ports in 23 countries, for US$23 billion . The assets include a 90 per cent stake in two Panama ports that have been the target of US President Donald Trump’s ire. A... https://www.scmp.com/business/article/3301104/ck-hutchisons-surprise-sale-global-ports-sends-stock-surging-amid-unfolding-trade-war?utm_source=rss_feed https://www.scmp.com/business/article/3301104/ck-hutchisons-surprise-sale-global-ports-sends-stock-surging-amid-unfolding-trade-war?utm_source=rss_feed Wed, 05 Mar 2025 04:14:13 +0000 Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification As the Hong Kong property market continues to navigate a downward tide, property developers are becoming increasingly aggressive in recouping their losses. CK Asset’s pursuit of the difference in... https://www.scmp.com/opinion/letters/article/3278387/hong-kong-property-education-needed-keep-mainland-chinese-buyers-coming?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3278387/hong-kong-property-education-needed-keep-mainland-chinese-buyers-coming?utm_source=rss_feed Sat, 14 Sep 2024 03:30:13 +0000 Enoch Yiu Enoch Yiu Hong Kong has attracted more than HK$10 billion (US$1.3 billion) under the city’s cash-for-residency scheme, in a major boost for its ambition to become a family office hub, officials said. Even Victor Li, the elder scion of the city’s wealthiest clan, said he is considering opening a family office for the first time. The revamped Capital Investment Entrant Scheme (CIES), more commonly known as the investment migration scheme, has received 346 applications as of last Friday, according to Alpha... https://www.scmp.com/business/article/3269595/hong-kongs-us13b-pile-residency-scheme-boon-citys-family-office-hub-goals?utm_source=rss_feed https://www.scmp.com/business/article/3269595/hong-kongs-us13b-pile-residency-scheme-boon-citys-family-office-hub-goals?utm_source=rss_feed Mon, 08 Jul 2024 08:21:15 +0000 CK Hutchison Holdings, one of the two flagship companies of Hong Kong’s richest man, Li Ka-shing, has terminated a plan to form a new Italian telecoms company with Swedish private equity firm EQT Infrastructure, 10 months after its announcement. The Hong Kong conglomerate had planned to transfer its network equipment and wholesale mobile and fixed communications services business in its Italian mobile business Wind Tre to EQT Infrastructure. However, the deal fell through as “the conditions... https://www.scmp.com/business/banking-finance/article/3251869/li-ka-shings-ck-hutchison-calls-italian-telecoms-joint-venture-swedens-eqt?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3251869/li-ka-shings-ck-hutchison-calls-italian-telecoms-joint-venture-swedens-eqt?utm_source=rss_feed Tue, 13 Feb 2024 13:42:13 +0000 Homebuyers in Hong Kong have continued to flock to projects that offer them best value for their money, with CK Asset Holdings – the flagship developer of billionaire Li Ka-shing that has been offering huge discounts – selling almost all units in the latest batch of its Coastline project on Sunday. As of 6.30pm on Sunday, the project in Yau Tong had sold 39 units out of the 41 on offer at Coastline I and Coastline II, according to property agents. CK Asset is offering discounts of as much as 16... https://www.scmp.com/business/article/3232469/ck-asset-henderson-land-among-developers-drawing-out-hong-kong-homebuyers-discounted-new-home-offers?utm_source=rss_feed https://www.scmp.com/business/article/3232469/ck-asset-henderson-land-among-developers-drawing-out-hong-kong-homebuyers-discounted-new-home-offers?utm_source=rss_feed Sun, 27 Aug 2023 10:50:57 +0000 Hong Kong on Saturday saw 223 new residential units across five projects made available to homebuyers, with the new major launch of 138 flats at a project in Tseung Kwan O offering discounts as high as 15 per cent. As of 4.30pm, Villa Garda III sold 73 out of 138 units, according to property agents. The units comprise 17 one-bedroom, 113 two-bedroom and eight three-bedroom flats, with areas ranging from 340 sq ft to 719 sq ft. The project – jointly developed by Sino Land, K Wah International and... https://www.scmp.com/business/article/3232405/hongkongers-snap-cheaper-new-homes-weekend-home-sale-bonanza-saw-223-flats-offer?utm_source=rss_feed https://www.scmp.com/business/article/3232405/hongkongers-snap-cheaper-new-homes-weekend-home-sale-bonanza-saw-223-flats-offer?utm_source=rss_feed Sat, 26 Aug 2023 10:30:11 +0000 Tens of thousands of people queued for hours on Saturday to get their hands on something unseen for seven years in Hong Kong: new flats on offer by one of the city’s most renown developers at prices last recorded in 2016. The crowd started assembling at 8am, a full two hours before CK Asset Holding began offering the first 626 flats at its Coast Line II apartments project in Yau Tong on the Kowloon peninsula. From the lobby of a shopping centre, the line spilled over a footbridge across a major... https://www.scmp.com/business/article/3230917/always-first-ck-assets-history-using-discounts-hone-its-edge-clear-inventory-survive-hong-kongs?utm_source=rss_feed https://www.scmp.com/business/article/3230917/always-first-ck-assets-history-using-discounts-hone-its-edge-clear-inventory-survive-hong-kongs?utm_source=rss_feed Sun, 13 Aug 2023 04:45:17 +0000 Hong Kong’s homebuyers rushed to seize the cheapest new flats on sale in seven years, delivering a clear sign to developers that discounts are the best tools for surviving the doldrums in the city’s property market. CK Asset Holdings sold all 626 units of the Coast Line II apartments in Yau Tong on offer in the current phase as of 9pm, according to Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau. Hundreds of prospective buyers started to line up outside... https://www.scmp.com/business/article/3230880/ck-assets-yau-tong-launch-draws-thousands-homebuyers-attracted-7-year-low-prices?utm_source=rss_feed https://www.scmp.com/business/article/3230880/ck-assets-yau-tong-launch-draws-thousands-homebuyers-attracted-7-year-low-prices?utm_source=rss_feed Sat, 12 Aug 2023 05:11:53 +0000 CK Hutchison Holdings and CK Asset Holdings, the two flagship companies of Hong Kong’s richest man Li Ka-shing, reported a drop in their first-half earnings, as the high interest rate environment continued to pile pressure on businesses in the city. CK Hutchison, the conglomerate with businesses spanning ports and infrastructure to telecommunications and supermarkets, said net profits plunged 41 per cent to HK$11.2 billion (US$1.43 billion). CK Asset, Li Ka-shing’s flagship property developer,... https://www.scmp.com/business/article/3229899/li-ka-shings-ck-hutchison-ck-asset-see-first-half-earnings-plunge-high-interest-rates-weigh?utm_source=rss_feed https://www.scmp.com/business/article/3229899/li-ka-shings-ck-hutchison-ck-asset-see-first-half-earnings-plunge-high-interest-rates-weigh?utm_source=rss_feed Thu, 03 Aug 2023 10:58:35 +0000 CK Hutchison Holdings, one of the two flagship companies of Hong Kong’s richest man, Li Ka-shing, said it would merge its British telecommunications business with Vodafone’s domestic business, creating the UK’s biggest mobile provider worth a combined £12.4 billion (US$15.7 billion). The long-gestating deal that has involved more than a year of talks will see Vodafone own 51 per cent of the combined company, with no cash consideration being paid. Instead, the joint venture will take on £6... https://www.scmp.com/business/banking-finance/article/3224097/li-ka-shings-three-uk-merge-vodafone-unit-form-britains-biggest-mobile-provider-worth-us157-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3224097/li-ka-shings-three-uk-merge-vodafone-unit-form-britains-biggest-mobile-provider-worth-us157-billion?utm_source=rss_feed Wed, 14 Jun 2023 12:48:34 +0000 The Hong Kong government needs to “make the numbers work” for its plan to develop the HK$580 billion (US$74 billion) artificial islands off Lantau, according to Victor Li Tzar-kuoi, chairman of CK Asset Holdings. Asked by shareholders at the annual general meeting about his views on the Kau Yi Chau Artificial Islands project, Li, the elder son of Hong Kong’s wealthiest tycoon Li Ka-shing, said “most importantly, the government needs to make the numbers work”. In his blog on Sunday, Financial... https://www.scmp.com/business/article/3221056/ck-assets-victor-li-says-government-has-make-numbers-work-us74-billion-lantau-artificial-islands?utm_source=rss_feed https://www.scmp.com/business/article/3221056/ck-assets-victor-li-says-government-has-make-numbers-work-us74-billion-lantau-artificial-islands?utm_source=rss_feed Thu, 18 May 2023 22:00:16 +0000 CK Hutchison Holdings, one of the two flagship companies of Hong Kong’s richest man, Li Ka-shing, said it would form a new joint venture with Swedish private-equity firm EQT to provide wholesale mobile and fixed communications services in Italy. The Hong Kong conglomerate’s Italian mobile business Wind Tre will transfer its active network equipment and wholesale mobile and wholesale fixed communications services business in Italy to the new company as part of the transaction. The new firm will... https://www.scmp.com/business/banking-finance/article/3220410/li-ka-shings-ck-hutchison-form-new-italian-telecoms-company-private-equity-firm-eqt?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3220410/li-ka-shings-ck-hutchison-form-new-italian-telecoms-company-private-equity-firm-eqt?utm_source=rss_feed Fri, 12 May 2023 13:30:19 +0000 CK Asset Holdings has made a US$612.9 million offer to acquire London-listed Civitas Social Housing, a real estate investment trust (REIT) that invests in social care housing and healthcare facilities in the United Kingdom. The flagship developer of tycoon Li Ka-shing’s family made an all-cash, general offer for Civitas at 80 pence (US$1.01) per share for a total of 485 million pounds, according to a filing to the Hong Kong stock exchange on Tuesday. The takeover offer by the developer’s... https://www.scmp.com/business/article/3219980/ck-asset-makes-us6129-million-offer-acquire-london-listed-civitas-social-housing?utm_source=rss_feed https://www.scmp.com/business/article/3219980/ck-asset-makes-us6129-million-offer-acquire-london-listed-civitas-social-housing?utm_source=rss_feed Tue, 09 May 2023 14:00:10 +0000 Hong Kong’s homebuyers returned to the property market days after the city’s commercial banks opted to keep mortgage rates unchanged. MTR Corporation and Chinachem Group sold all 179 flats of their In One flats on offer at Ho Man Tin, agents said. The one-bedroom to three-bedroom units were offered at between HK$7.97 million and HK$30.45 million (US$3.9 million), or HK$27,083 per square foot. Over at Tuen Mun, 86 per cent of the 400 flats on offer at the second phase of the Grand Jete project by... https://www.scmp.com/business/article/3214859/hong-kong-property-homebuyers-rush-back-after-banks-held-loan-rates-steady-posing-bumper-sales-one?utm_source=rss_feed https://www.scmp.com/business/article/3214859/hong-kong-property-homebuyers-rush-back-after-banks-held-loan-rates-steady-posing-bumper-sales-one?utm_source=rss_feed Sat, 25 Mar 2023 13:25:02 +0000 From Li Ka-shing’s sprawling empire to an office tower bought by James Tien Pei-chun’s Manhattan Garments Group, the whipsawing British pound could draw blood from some of Hong Kong and China’s biggest businesses. The pound’s wild swings – it fell to a 50-year low against the US dollar at one point in recent weeks before recovering somewhat this week– threaten more than £63 billion (US$71 billion) in revenue and tens of billions of dollars in investments for these companies, according to... https://www.scmp.com/business/banking-finance/article/3195967/currency-anxiety-chinese-hong-kong-businesses-sweat?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3195967/currency-anxiety-chinese-hong-kong-businesses-sweat?utm_source=rss_feed Sat, 15 Oct 2022 02:00:11 +0000 A luxury residential project in London from CK Asset Holdings, the flagship property developer of tycoon Li Ka-shing, has drawn the interest of prospective Hong Kong buyers looking to take advantage of the British currency’s recent plunge. Many who attended the first of a two-day weekend exhibition and sales launch in Central were hoping to make the best of sterling’s sharp decline, according to a company spokeswoman. “The response has been overwhelming, many were drawn by the low value of the... https://www.scmp.com/business/article/3195298/ck-assets-london-luxury-project-powerhouse-piques-interest-hong-kong-pound?utm_source=rss_feed https://www.scmp.com/business/article/3195298/ck-assets-london-luxury-project-powerhouse-piques-interest-hong-kong-pound?utm_source=rss_feed Sat, 08 Oct 2022 11:01:07 +0000 Hong Kong’s richest tycoon Li Ka-shing is selling one of Asia’s priciest residential projects in the city to a Singapore-based wealth manager, surprising the market with one of the biggest deals amid a slump in the economy. Li’s flagship property company CK Asset Holdings agreed to sell its project known as 21 Borrett Road at Mid-Levels for HK$20.8 billion (US$2.6 billion) to pocket a HK$6.3 billion profit, according to a stock exchange filing late on Wednesday. The transaction is expected to be... https://www.scmp.com/business/article/3194164/billionaire-li-ka-shings-ck-asset-sells-luxury-mid-levels-project?utm_source=rss_feed https://www.scmp.com/business/article/3194164/billionaire-li-ka-shings-ck-asset-sells-luxury-mid-levels-project?utm_source=rss_feed Wed, 28 Sep 2022 13:54:26 +0000 Hong Kong’s supply of new prime office space is at a 24-year high, and rents are likely to drop by as much as 5 per cent this year as the market heads for a “new normal” with rents as much as 30 per cent below a 2019 peak, according to analysts. With 2.8 million sq ft of new prime space hitting the market this year, supply will reach a level not seen since 2008, when it stood at 3.5 million sq ft, according to property consultancy Cushman & Wakefield. Moreover, analysts estimate that the supply... https://www.scmp.com/business/article/3189073/growing-glut-new-prime-hong-kong-office-space-could-further-depress-rents?utm_source=rss_feed https://www.scmp.com/business/article/3189073/growing-glut-new-prime-hong-kong-office-space-could-further-depress-rents?utm_source=rss_feed Wed, 17 Aug 2022 02:00:24 +0000 Hong Kong’s famous skyline will soon have a shiny new addition. CK Asset Holdings, the property developer founded by tycoon Li Ka-shing, has revealed the design of its new skyscraper in Central, set to be unveiled next year once the conversion of Hutchison House is complete. The redevelopment will add 550,000 square feet of prime office space – about the size of 10 football fields – in Hong Kong’s main business zone of Central. The work is scheduled to be completed in 2023, the city’s... https://www.scmp.com/business/article/3188440/li-ka-shings-developer-unveils-design-cheung-kong-center-ii-41-storey?utm_source=rss_feed https://www.scmp.com/business/article/3188440/li-ka-shings-developer-unveils-design-cheung-kong-center-ii-41-storey?utm_source=rss_feed Wed, 10 Aug 2022 12:30:15 +0000 CK Hutchison Holdings and CK Asset Holdings, the two flagship companies of Li Ka-shing, Hong Kong’s richest man, reported increases in their first-half results on Thursday, despite a “worrisome” Covid-19 situation in mainland China and Hong Kong. CK Hutchison, the conglomerate with businesses touching almost every aspect of an average Hongkonger’s life, said its net profit for the first six months of 2022 rose 4.3 per cent to HK$19.1 billion (US$2.4 billion), slowing down from a 41 per cent jump... https://www.scmp.com/business/companies/article/3187740/li-ka-shings-ck-hutchison-ck-asset-post-first-half-earnings?utm_source=rss_feed https://www.scmp.com/business/companies/article/3187740/li-ka-shings-ck-hutchison-ck-asset-post-first-half-earnings?utm_source=rss_feed Thu, 04 Aug 2022 11:50:11 +0000 One of Hong Kong’s wealthiest businessmen has submitted a bid to buy China Evergrande Group’s trophy head office building in the city, throwing a financial lifeline to the world’s most indebted developer just days before a deadline to reorganise US$300 billion of liabilities. CK Asset Holdings, controlled by Hong Kong’s wealthiest man Li Ka-shing and chaired by his elder son Victor Li, has confirmed that it “has submitted a tender for China Evergrande Centre,” an office tower located at 38... https://www.scmp.com/business/article/3186855/victor-lis-ck-asset-confirms-submitting-tender-china-evergrandes-flagship?utm_source=rss_feed https://www.scmp.com/business/article/3186855/victor-lis-ck-asset-confirms-submitting-tender-china-evergrandes-flagship?utm_source=rss_feed Thu, 28 Jul 2022 04:37:59 +0000 The Hong Kong government on Tuesday rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, the first to be subject to a 280 sq ft minimum flat size requirement, as all tenders were below the reserve price. “All five tenders received for the sale of a residential site in Tuen Mun town lot no. 561 at Castle Peak Road – Tai Lam, Tuen Mun, have been rejected as their tendered premiums did not meet the government’s reserve price for the site,” the Lands Department... https://www.scmp.com/business/article/3175605/hong-kong-government-rejects-all-bids-tuen-mun-site-first-land-sale-carry?utm_source=rss_feed https://www.scmp.com/business/article/3175605/hong-kong-government-rejects-all-bids-tuen-mun-site-first-land-sale-carry?utm_source=rss_feed Tue, 26 Apr 2022 13:44:20 +0000 Georgina Lee Georgina Lee BitMEX is laying off a quarter of its global workforce of 300, as the Seychelles-based cryptocurrency derivatives exchange streamlines its business amid heightened regulatory scrutiny. The redundancies, which take effect at the end of April, will affect about 75 staff, according to people familiar with the matter. A spokesman confirmed that BitMEX is reducing its workforce to prepare for “the next phase of the business,” adding that the platform will operate as normal. The exchange, best known... https://www.scmp.com/business/banking-finance/article/3173139/bitmex-lays-quarter-staff-cryptocurrency-exchanges-revamp?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3173139/bitmex-lays-quarter-staff-cryptocurrency-exchanges-revamp?utm_source=rss_feed Tue, 05 Apr 2022 09:25:45 +0000 Li Ka-shing’s two flagship companies reported better- than- expected earnings last year, as asset sales and revaluations on investment properties helped Hong Kong’s wealthiest man beat forecasts even amid the global Covid-19 pandemic. CK Hutchison Holdings, the conglomerate with businesses in everything from consumer products to ports and telecommunications, said its 2021 net profit rose 15 per cent to HK$33.48 billion (US$4.28 billion), beating the consensus estimate of 10 analysts in... https://www.scmp.com/business/companies/article/3170853/li-ka-shings-flagships-post-better-expected-earnings-its-assets?utm_source=rss_feed https://www.scmp.com/business/companies/article/3170853/li-ka-shings-flagships-post-better-expected-earnings-its-assets?utm_source=rss_feed Thu, 17 Mar 2022 11:23:09 +0000 Hong Kong’s home prices could drop 10 per cent in the first half, as the city’s worsening Covid-19 outbreak caused the first three months to be a washout for property sales, forcing analysts to reverse their forecasts. Home prices may fall by 5 per cent in 2022, according to the property consultant Colliers, as it reversed its earlier forecast of a 3-per cent gain in mass-market homes, and a 5-per cent increase in the luxury market. Collier’s reversal is the most dramatic change among four... https://www.scmp.com/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed https://www.scmp.com/business/article/3170347/hong-kong-analysts-reverse-bullish-forecasts-u-turn-property-market-home?utm_source=rss_feed Mon, 14 Mar 2022 03:40:18 +0000 CK Asset Holdings has sold a prime London office tower for £1.2 billion (US$1.6 billion) less than four years after acquiring it, the flagship company of Hong Kong’s wealthiest tycoon Li Ka-shing said on Friday. 5 Broadgate, the London headquarters of Swiss investment bank UBS group, was bought by CK Asset in June 2018 for £1 billion, with proceeds from the sale of The Center office tower in Hong Kong. CK Asset said it expected a gain of about £108 million from the sale, according to a filing to... https://www.scmp.com/business/article/3170206/ck-asset-sells-london-office-block-south-korean-pension-fund-us16-billion?utm_source=rss_feed https://www.scmp.com/business/article/3170206/ck-asset-sells-london-office-block-south-korean-pension-fund-us16-billion?utm_source=rss_feed Fri, 11 Mar 2022 15:15:43 +0000 Three companies controlled by tycoon Victor Li Tzar-kuoi have received a notice of interest from unnamed parties to buy one of the UK’s largest power distribution companies that they jointly own. The preliminary expression of interest has yet to be “properly analysed,” Cheung Kong Infrastructure Holdings, Power Assets Holdings, CK Asset Holdings and CK Hutchison Holdings said in a joint filing to Hong Kong’s bourse late on Friday, without naming the potential buyers. “The companies have noted... https://www.scmp.com/business/article/3169333/victor-li-controlled-companies-say-uk-power-distribution-asset-has?utm_source=rss_feed https://www.scmp.com/business/article/3169333/victor-li-controlled-companies-say-uk-power-distribution-asset-has?utm_source=rss_feed Sat, 05 Mar 2022 00:00:25 +0000 A large residential site in Kowloon’s To Kwa Wan has sold slightly below market expectations amid Hong Kong’s worsening Covid-19 outbreak. Centenary Investments Limited, a wholly-owned subsidiary of CK Asset Holdings, won two adjoining sites about eight minutes walk to the To Kwa Wan MTR Station for HK$5.99 billion (US$767.3 million), the Urban Renewal Authority (URA) said on Thursday. The price was lower than the market expectation of HK$6 billion to HK$6.8 billion. The plot may have sold below... https://www.scmp.com/business/article/3169127/ck-asset-unit-wins-large-residential-site-kowloons-kwa-wan-us767-million?utm_source=rss_feed https://www.scmp.com/business/article/3169127/ck-asset-unit-wins-large-residential-site-kowloons-kwa-wan-us767-million?utm_source=rss_feed Thu, 03 Mar 2022 12:15:21 +0000 Li Ka-shing, Lee Shau-kee and Henry Cheng Kar-shun remain Hong Kong’s three richest men on the annual ranking compiled by Forbes magazine, leading the multibillionaires whose wealth increases defied the global coronavirus pandemic. The fortunes of Li, dubbed “Superman” locally for his deal-making prowess, grew 1.7 per cent to US$36 billion, as the resilience in Hong Kong’s housing market bolstered the stock of his flagship property developer CK Asset Holdings by a third, according to Forbes’... https://www.scmp.com/business/article/3168213/hong-kongs-superman-tops-forbes-tycoon-list-citys-richest-defy-covid-19?utm_source=rss_feed https://www.scmp.com/business/article/3168213/hong-kongs-superman-tops-forbes-tycoon-list-citys-richest-defy-covid-19?utm_source=rss_feed Thu, 24 Feb 2022 09:35:14 +0000 Victor Li Tzar-kuoi, the chairman and managing director of tycoon Li Ka-shing’s flagship company, has tested negative for Covid-19 after reporting symptoms, according to a statement by CK Asset Holdings on Saturday morning. Li, who turns 58 in August, was awaiting test results after showing symptoms including “light coughing” and “hoarseness in his voice”, according to a separate statement on Friday. He will also withdraw from an online meeting that is to be chaired by Luo Huining, director of... https://www.scmp.com/business/article/3167501/victor-li-undergoes-covid-19-test-after-reporting-symptoms-pulls-out?utm_source=rss_feed https://www.scmp.com/business/article/3167501/victor-li-undergoes-covid-19-test-after-reporting-symptoms-pulls-out?utm_source=rss_feed Fri, 18 Feb 2022 03:53:29 +0000 Hong Kong’s notoriously tiny flats are likely to endure and withstand the minimum size ordered by the city authorities, as affordability remains the biggest challenge for many first-home buyers struggling to get on the first rung of the property ladder. The 280-square feet (26 square metres) minimum stipulated this week on new projects built on government land would wipe out many flats priced below HK$6 million (US$769,400), which are eligible for up to 90 per cent mortgage financing, pushing... https://www.scmp.com/business/article/3161704/hong-kongs-blight-nano-flats-will-withstand-minimum-size-rule?utm_source=rss_feed https://www.scmp.com/business/article/3161704/hong-kongs-blight-nano-flats-will-withstand-minimum-size-rule?utm_source=rss_feed Fri, 31 Dec 2021 09:05:55 +0000 CK Asset Holdings said on Friday that it will sell its aircraft leasing business for US$4.3 billion to realise a “satisfactory gain” while enhancing its strategic focus during the Covid-19 pandemic. Hong Kong tycoon Li Ka-shing’s flagship company will pocket a gain of US$170 million by selling Accipiter Finance and Manchester Aviation Finance to Maverick Aviation Holdings, CK Asset said in a stock exchange filing. “The disposal would allow the group to unlock the underlying value of its aircraft... https://www.scmp.com/business/china-business/article/3160990/li-ka-shings-ck-asset-sell-aircraft-leasing-businesses-us43?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160990/li-ka-shings-ck-asset-sell-aircraft-leasing-businesses-us43?utm_source=rss_feed Fri, 24 Dec 2021 09:30:17 +0000 A weekend sale of tiny flats in Hong Kong’s New Territories got off to a brisk start, auguring well for the proposed Northern Metropolis residential enclave near the city’s northern border with Shenzhen. CK Asset Holdings sold all 200 apartments through open sales in the first batch of sales at its #Lyos project in Hung Shui Kiu as of 8:30pm, with more than 7,500 registrations of interest, translating to 36 bids for every available unit, while 20 flats were reserved for sale by tender. The... https://www.scmp.com/business/article/3155125/thousands-buyers-vie-ck-assets-lyos-flats-hung-shui-kiu-auguring-well-hong?utm_source=rss_feed https://www.scmp.com/business/article/3155125/thousands-buyers-vie-ck-assets-lyos-flats-hung-shui-kiu-auguring-well-hong?utm_source=rss_feed Sat, 06 Nov 2021 11:15:39 +0000 A real estate bull market in Hong Kong, the world’s most expensive major city for 10 consecutive years until 2019, has trickled over to inflate the prices of even the smallest habitable homes. The average cost of new micro-apartments, or flats smaller than 200 square feet (18.6 square metres), rose to HK$25,512 per square foot in the first nine months of 2021, according to Midland Realty’s data. That made the smallest homes more expensive than the HK$21,680 per sq ft average price of the typical... https://www.scmp.com/business/article/3152796/hong-kongs-property-mania-inflates-prices-even-tiniest-flats-putting?utm_source=rss_feed https://www.scmp.com/business/article/3152796/hong-kongs-property-mania-inflates-prices-even-tiniest-flats-putting?utm_source=rss_feed Tue, 19 Oct 2021 00:30:14 +0000 Hysan Development is expanding into Shanghai’s commercial market with the 3.5 billion yuan (US$542 million) acquisition of a 24-storey building in which CK Asset Holdings has a controlling stake, with the aim of recreating another Lee Gardens in the mainland city, according to a company announcement late Friday. “This acquisition marks a very important step for our long-term planning and development in Shanghai. We will continue to identify new development opportunities in Shanghai, the Greater... https://www.scmp.com/business/article/3149214/hysan-snaps-shanghai-building-35-billion-yuan-and-says-it-aims-create?utm_source=rss_feed https://www.scmp.com/business/article/3149214/hysan-snaps-shanghai-building-35-billion-yuan-and-says-it-aims-create?utm_source=rss_feed Sat, 18 Sep 2021 01:00:32 +0000 CK Asset Holdings won a tender for a land parcel at Yuen Long in the New Territories, as it beat 15 rivals with a higher than expected bid amid a sizzling housing market in Hong Kong. Hong Kong tycoon Victor Li Tzar-kuoi’s company bid HK$716 million (US$91.8 million) for the land at the junction of Lau Yip Street and Chung Yip Road, which can yield a gross floor area of 78,575 sq ft, the Lands Department said on Tuesday evening. The price per square foot works out to about HK$9,112. CK Asset... https://www.scmp.com/business/money/article/3145388/ck-asset-beats-15-rivals-us918-million-bid-yuen-long-plot?utm_source=rss_feed https://www.scmp.com/business/money/article/3145388/ck-asset-beats-15-rivals-us918-million-bid-yuen-long-plot?utm_source=rss_feed Wed, 18 Aug 2021 02:00:26 +0000 CK Hutchison Holdings and CK Asset Holdings, the two flagship companies of Hong Kong’s richest family, defied naysayers with interim results that beat expectations, as the city’s tentative recovery from its worst recession on record translated to increased spending on everything from groceries to real estate. Hutchison, the conglomerate with businesses ranging from the world’s ninth-largest container port to the A/S Watsons pharmacy chain, reported a 41 per cent jump in first-half net profit to... https://www.scmp.com/business/investor-relations/article/3143966/li-ka-shings-two-flagships-defy-gloom-interim-results?utm_source=rss_feed https://www.scmp.com/business/investor-relations/article/3143966/li-ka-shings-two-flagships-defy-gloom-interim-results?utm_source=rss_feed Thu, 05 Aug 2021 10:30:13 +0000 Asian real-estate logistics group ESR Cayman plans to buy rival ARA Asset Management to become the Asia-Pacific region’s largest real asset fund manager powered by the new economy with a portfolio of assets worth US$129 billion. Hong Kong-listed ESR will buy the Singapore-based firm for US$5.2 billion by issuing US$4.7 billion worth of new shares and loans and US$519 million in cash, according to a stock exchange filing. It will raise the cash via a stock placement and internal resources. The... https://www.scmp.com/business/companies/article/3143866/esr-buy-rival-ara-us52-billion-create-asias-top-real-estate?utm_source=rss_feed https://www.scmp.com/business/companies/article/3143866/esr-buy-rival-ara-us52-billion-create-asias-top-real-estate?utm_source=rss_feed Thu, 05 Aug 2021 01:02:19 +0000 Hong Kong’s real estate buyers mostly ignored a weekend sale of leftover apartments at four residential projects, as they await newer offerings to come on to the market. Investors bought 30 of the combined 191 flats on offer at Seaside Sonata and Grand Victoria III in Cheung Sha Wan, as well as Aquila. Square Mile and Cetus. Square Mile in Tai Kok Tsui, representing 16 per cent of the total on offer this weekend. “These homes have been on the market for some time, and are more expensive than... https://www.scmp.com/business/article/3142398/hong-kongs-real-estate-buyers-give-their-cold-shoulders-leftover-flats?utm_source=rss_feed https://www.scmp.com/business/article/3142398/hong-kongs-real-estate-buyers-give-their-cold-shoulders-leftover-flats?utm_source=rss_feed Sat, 24 Jul 2021 12:09:20 +0000 Hong Kong’s weekend property sales were mixed, as buyers snapped up the apartments on offer at a new development in Tai Wai but gave their collective cold shoulder to leftover flats from a 20-month project in Cheung Sha Wan. New World Development sold 79 of the 85 flats on offer at The Pavilia Farm project in Tai Wai, even as the average price of the units on offer had risen by 24 per cent to HK$24,858 per square foot, compared with the launch price in late May. At Cheung Sha Wan, CK Asset... https://www.scmp.com/business/article/3138879/hong-kongs-weekend-home-sales-post-mixed-results-buyers-are-spoilt-choice?utm_source=rss_feed https://www.scmp.com/business/article/3138879/hong-kongs-weekend-home-sales-post-mixed-results-buyers-are-spoilt-choice?utm_source=rss_feed Sat, 26 Jun 2021 12:59:53 +0000 An influx of mainland Chinese buyers into Hong Kong’s super-deluxe developments since early this year could further fuel home prices in the world’s most expensive property market, and the trend will become more obvious once the border open. Buyers who settled in Hong Kong from mainland China, dubbed “new Hongkongers” unlike locally born residents, have already made their presence felt in the local real estate market. They bought 38 per cent of Hong Kong’s luxury homes – each priced more than... https://www.scmp.com/business/article/3138256/coronavirus-hong-kong-luxury-property-awaits-shenzhen-border-opening-next?utm_source=rss_feed https://www.scmp.com/business/article/3138256/coronavirus-hong-kong-luxury-property-awaits-shenzhen-border-opening-next?utm_source=rss_feed Tue, 22 Jun 2021 23:30:00 +0000 Georgina Lee,Pearl Liu Georgina Lee,Pearl Liu BitMEX, which operates a cryptocurrency derivatives exchange out of the priciest office tower in Hong Kong, is embarking on a hiring spree and expanding its floor space in a show of confidence in the city, even as the industry faces heightened regulatory scrutiny. The company, which claims to handle US$1.7 billion of transactions per day, is exploring the option of leasing additional space equivalent to half a floor, at Cheung Kong Center from CK Asset Holdings, according to several people... https://www.scmp.com/business/banking-finance/article/3138155/bitmex-talks-rent-more-space-hong-kongs-costliest-offices?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3138155/bitmex-talks-rent-more-space-hong-kongs-costliest-offices?utm_source=rss_feed Tue, 22 Jun 2021 00:30:00 +0000 Half a dozen real estate developers owned by Hong Kong’s wealthiest families have thrown their hats into the ring to bid for the largest plot of harbourfront commercial land in Central, in a test of the property market that offers a peek into the city’s future standing as an Asian financial hub. Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market value, controlled by the Kwok family, confirmed that it submitted a bid for Site 3 at Connaught Place in Central, a 516,316 square... https://www.scmp.com/business/article/3137906/hong-kongs-largest-developers-and-richest-families-pile-blockbuster?utm_source=rss_feed https://www.scmp.com/business/article/3137906/hong-kongs-largest-developers-and-richest-families-pile-blockbuster?utm_source=rss_feed Fri, 18 Jun 2021 09:17:25 +0000 CK Asset Holdings, one of the listed flagships of Hong Kong’s richest billionaire Li Ka-shing, plans to spend an additional HK$2.4 billion (US$309 million) to boost its stock buyback programme and restore the family’s stake in the group. The company, the city’s second-largest developer by market value, will offer to buy back 380 million shares at HK$51 each or HK$19.4 billion, according to an exchange filing late Wednesday. That is an increase from 333.3 million shares previously proposed in... https://www.scmp.com/business/companies/article/3129598/ck-asset-raises-share-buyback-14-cent-after-asset-injection-li?utm_source=rss_feed https://www.scmp.com/business/companies/article/3129598/ck-asset-raises-share-buyback-14-cent-after-asset-injection-li?utm_source=rss_feed Thu, 15 Apr 2021 03:29:44 +0000 CK Hutchison Holdings and CK Asset Holdings, the listed flagships of billionaire Li Ka-shing, reported sharply lower annual profits as economic disruptions caused by the coronavirus pandemic took a toll on their retail, ports, hotel and property operations. CK Hutchison, the conglomerate with businesses spanning from container ports, retailing to telecommunications and energy, said net profit fell 27 per cent to HK$29.1 billion (US$3.7 billion) for 2020. It was the first profit decline since... https://www.scmp.com/business/companies/article/3126020/li-ka-shing-flagships-ck-hutchison-and-ck-asset-report-sharply?utm_source=rss_feed https://www.scmp.com/business/companies/article/3126020/li-ka-shing-flagships-ck-hutchison-and-ck-asset-report-sharply?utm_source=rss_feed Thu, 18 Mar 2021 12:30:21 +0000 Hong Kong’s weekend property sales saw mixed reception at two different projects, as homebuyers picked and chose their way through two projects that had been on the market for at least nine months. At Lohas Park in Tseung Kwan O, CK Asset Holdings sold 117 of the 159 flats at the Sea to Sky project developed with MTR Corporation. Buyers were undeterred by the 12-per cent increase in average price since the project’s launch last June, with about seven registered bidders vying for every available... https://www.scmp.com/business/article/3124383/property-projects-two-locations-get-mixed-reception-hong-kongs-homebuyers?utm_source=rss_feed https://www.scmp.com/business/article/3124383/property-projects-two-locations-get-mixed-reception-hong-kongs-homebuyers?utm_source=rss_feed Sat, 06 Mar 2021 13:05:57 +0000 The buyer who paid a record HK$459.4 million (US$59.3 million) last month for an apartment at Hong Kong’s Mid-Levels has been revealed in a document filed with the city’s Land Registry. Yin Xi was stated as the buyer of Flat 1 on the 23rd floor of 21 Borrett Road, according to Land Registry documents. The five-bedroom apartment was developed by CK Asset Holdings, and sold through tender. The price that Yin paid, at HK$136,000 per square foot, smashed the record held since 2017 by two luxury... https://www.scmp.com/business/article/3124130/mystery-owner-asias-priciest-apartment-hong-kongs-mid-levels-revealed-be?utm_source=rss_feed https://www.scmp.com/business/article/3124130/mystery-owner-asias-priciest-apartment-hong-kongs-mid-levels-revealed-be?utm_source=rss_feed Thu, 04 Mar 2021 13:23:01 +0000 Pan Sutong, the embattled real estate tycoon facing a breach of contract law suit, has been replaced in a venture in Hong Kong’s Ho Man Tin residential district, the latest twist in the financial struggles of one of the city’s high-flying developers. Pan’s Goldin Properties Holdings reached a novation agreement to transfer its right to develop Ho Man Tin Station Package One parcel to Great Eagle Group of the Lo family, said MTR Corporation. Great Eagle paid a HK$1 billion (US$129 million)... https://www.scmp.com/business/article/3123747/pan-sutong-transfers-right-develop-ho-man-tin-district-great-eagle?utm_source=rss_feed https://www.scmp.com/business/article/3123747/pan-sutong-transfers-right-develop-ho-man-tin-district-great-eagle?utm_source=rss_feed Tue, 02 Mar 2021 09:30:16 +0000