https://www.scmp.com/rss/517878/feed Power Assets is an international utility and part of the business empire of retired business tycoon Li Ka-shing. The company has interests in the transmission, distribution and generation of electricity, gas and oil, with Hong Kong Electric, one of two main electricity providers in the city, as its flagship operating company. Power Assets is chaired by Canning Fok Kin-ning, widely considered to be Li's right-hand man. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Peggy Ye Peggy Ye A consortium comprising CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie in a deal worth £10.5 billion (US$14.2 billion), according to a joint filing issued before the Hong Kong market opened on Thursday. The agreement was signed after trading hours on Wednesday in Hong Kong, London and Paris. The announcement triggered a rally across the CK group’s Hong Kong-listed... https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344660/ck-group-agrees-sell-uk-electricity-operator-us142-billion?utm_source=rss_feed Thu, 26 Feb 2026 00:38:30 +0000 Cheryl Arcibal Cheryl Arcibal CK Infrastructure Holdings is poised to complete the disposal of UK Rails (Eversholt Rail) this month following London’s approval of the deal, according to the company, which is part of Hong Kong tycoon Li Ka-shing’s business empire. The train leasing company is owned by a consortium of the group’s companies: CK Infrastructure, which holds 65 per cent, along with CK Asset Holdings (20 per cent), Power Asset Holdings (10 per cent) and CK Hutchison Holdings (5 per cent), according to the... https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed https://www.scmp.com/business/article/3339897/li-ka-shings-ck-infrastructure-gets-nod-sell-train-leasing-firm-uk-rails?utm_source=rss_feed Wed, 14 Jan 2026 11:00:11 +0000 Yulu Ao Yulu Ao Hong Kong stocks made a strong start to 2026 on Friday, as investors bet on economic growth after both the mainland and Hong Kong markets recorded bull runs in 2025. The Hang Seng Index surged 2.8 per cent to 26,338.47 at the close, notching the biggest gain since May 12 and pushing the benchmark to the highest level since November 17. The Hang Seng Tech Index added 3.6 per cent. On the mainland, the markets were closed for public holidays. Leading the advance, search-engine giant Baidu jumped... https://www.scmp.com/business/china-business/article/3338452/hong-kong-stocks-jump-2026-investors-bet-continued-bull-run?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338452/hong-kong-stocks-jump-2026-investors-bet-continued-bull-run?utm_source=rss_feed Fri, 02 Jan 2026 02:27:35 +0000 Shares of international utilities firm Power Assets Holdings, controlled by tycoon Li Ka-shing, surged as much as 7 per cent after it unveiled a HK$6 per share special dividend and a higher than expected 30 per cent annual profit rise.   Net profit came to HK$8.32 billion for 2017, much higher than the HK$7.56 billion average estimate of seven analysts polled by Bloomberg. The company attributed the increase to a HK$922 million one-off gain from the disposal of properties, profit contribution... https://www.scmp.com/business/investor-relations/stock-quote-profile/article/2137560/shares-li-ka-shings-power-assets?utm_source=rss_feed https://www.scmp.com/business/investor-relations/stock-quote-profile/article/2137560/shares-li-ka-shings-power-assets?utm_source=rss_feed Fri, 16 Mar 2018 11:13:13 +0000 Li Ka-shing’s multinational Power Assets Group surged 10.6 per cent to HK$75.40 on Friday, in its biggest gain since at least July 1997, after reporting a share dividend payment of HK$8.27. That payment comprises a HK$0.77 per interim dividend and a HK$7.50 per share one-off special interim dividend to address shareholder expectations while keeping in view it’s financial capacity for future acquisitions, chairman Canning Fok Kin-ning said in a stock exchange filing after the market close on... https://www.scmp.com/business/money/stock-talk/article/2103542/power-assets-announced-special-dividend-payment-shares-gap?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/2103542/power-assets-announced-special-dividend-payment-shares-gap?utm_source=rss_feed Fri, 21 Jul 2017 02:45:15 +0000 Power Assets, an international energy generation and distribution firm controlled by tycoon Li Ka-shing, has declared a HK$5 a share special dividend. The “one-off” payout, which will be in addition to the final dividend yet to be declared for the 2016 financial year, will be paid in cash on February 28, the company said in a filing to Hong Kong’s stock exchange on Thursday, on which a board meeting approved the payout. It will be paid to shareholders whose names appear in the company’s... https://www.scmp.com/business/companies/article/2065835/power-assets-declares-hk5-share-special-dividend?utm_source=rss_feed https://www.scmp.com/business/companies/article/2065835/power-assets-declares-hk5-share-special-dividend?utm_source=rss_feed Thu, 26 Jan 2017 16:36:49 +0000 Power Assets may pay a special dividend on top of its final dividend after it announces its annual results, potentially answering calls by shareholders to distribute part of its huge cash pile after hopes for a special payout was dashed last May. Power Assets said in a statement on Monday that its board will consider a motion to pay a HK$5 per share special interim dividend during a meeting scheduled for January 26 But Power Assets, which has energy projects in Hong Kong, mainland China, Europe,... https://www.scmp.com/business/companies/article/2062604/power-assets-under-pressure-dole-out-some-its-hk40bn-cash-hoard?utm_source=rss_feed https://www.scmp.com/business/companies/article/2062604/power-assets-under-pressure-dole-out-some-its-hk40bn-cash-hoard?utm_source=rss_feed Mon, 16 Jan 2017 13:35:20 +0000 Power Assets, an international utilities firm hurt by the British pound’s depreciation against the dollar, posted a 7.4 per cent year on year rise in net profit for the first six months as a loss from an asset sale pulled down profit in the year-earlier period. The company, which invests in power and gas utilities in Britain, Holland, Portugal, mainland China, Hong Kong, Australia, New Zealand, Canada and Thailand, recorded a net profit of HK$3.48 billion in the year’s first-half. That was up... https://www.scmp.com/business/companies/article/1995950/li-ka-shings-power-assets-posts-higher-interim-profit-due?utm_source=rss_feed https://www.scmp.com/business/companies/article/1995950/li-ka-shings-power-assets-posts-higher-interim-profit-due?utm_source=rss_feed Thu, 28 Jul 2016 04:57:07 +0000 Shares of Power Assets, an international utilities firm controlled by tycoon Li Ka-shing, fell after it said its board has decided against declaring a special interim dividend citing potential investment in three projects, including a “very substantial” one yet to be revealed. The announcement has dashed the hopes of minority shareholders for a special payout given the firm’s cash pile of HK$68 billion as of the end of last year, largely due to a stake sale through a separate listing of its Hong... https://www.scmp.com/business/companies/article/1944084/li-ka-shings-power-assets-shares-fall-after-board-decides-against?utm_source=rss_feed https://www.scmp.com/business/companies/article/1944084/li-ka-shings-power-assets-shares-fall-after-board-decides-against?utm_source=rss_feed Thu, 12 May 2016 09:00:30 +0000 Power Assets and Cheung Kong Infrastructure (CKI), two firms controlled by Hong Kong tycoon Li Ka-shing, have agreed to fork out C$1.15 billion (HK$7 billion) to buy a 65 per cent stake in some oil logistics assets of Li-controlled Canada-based oil firm Husky Energy. The move would answer expectations of shareholders of international power utility Power Assets from its management to find suitable investment targets for putting its HK$68 billion cash pile to good use. It would also shore up the... https://www.scmp.com/business/companies/article/1938618/li-ka-shings-power-assets-and-cki-invest-his-troubled-canada?utm_source=rss_feed https://www.scmp.com/business/companies/article/1938618/li-ka-shings-power-assets-and-cki-invest-his-troubled-canada?utm_source=rss_feed Tue, 26 Apr 2016 10:53:04 +0000 Power Assets, an international utilities firm controlled by tycoon Li Ka-shing, hinted at a possible special dividend later in the year as it posted 2 per cent growth in underlying profit for last year. Net profit amounted to HK$7.73 billion after the booking of a HK$532 million loss on a stake sale in its Hong Kong power unit. That was in line with the average estimate of HK$7.76 billion of 12 analysts polled by Thomson Reuters. Excluding the disposal loss last year and a HK$52.93 billion... https://www.scmp.com/business/companies/article/1925812/li-ka-shings-power-assets-posts-2-cent-growth-underlying-profit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1925812/li-ka-shings-power-assets-posts-2-cent-growth-underlying-profit?utm_source=rss_feed Wed, 16 Mar 2016 06:22:21 +0000 Minority shareholders of Power Assets have blocked a proposed merger between Li Ka-shing controlled Power Assets and its parent Cheung Kong Infrastructure (CKI). Votes representing some 49.23 per cent of the shares owned by independent minority Power Assets shareholders opposed the proposal to swap each Power Assets share for 1.066 CKI shares, compared to 50.77 per cent who approved it, CKI and Power Assets said in a joint statement to the Hong Kong stock exchange on Tuesday. The “yes” votes... https://www.scmp.com/business/companies/article/1882964/li-ka-shing-rejected-power-assets-minority-shareholders-block-cki?utm_source=rss_feed https://www.scmp.com/business/companies/article/1882964/li-ka-shing-rejected-power-assets-minority-shareholders-block-cki?utm_source=rss_feed Tue, 24 Nov 2015 14:15:45 +0000 Minority shareholders of Power Assets will be subjected to a hard choice between a possibly value-creating merger with parent Cheung Kong Infrastructure (CKI) at a less than desirable shares exchange ratio, or reject the proposal and take the risk the firm may continue to sit on its huge cash pile and see its share price languish if no new acquisitions materialise. Either way, billionaire tycoon Li Ka-shing and his family, who control both companies under his flagship CK Hutchison Holdings, will... https://www.scmp.com/business/companies/article/1880801/tough-decision-minority-shareholders-li-ka-shing-controlled-cki?utm_source=rss_feed https://www.scmp.com/business/companies/article/1880801/tough-decision-minority-shareholders-li-ka-shing-controlled-cki?utm_source=rss_feed Sun, 22 Nov 2015 04:00:57 +0000 Cheung Kong Infrastructure Holdings has lifted its offer for Power Assets Holdings in a move to win approval of the proposed merger from Power Assets' minority shareholders. CKI, the infrastructure arm of Li Ka-shing's flagship CK Hutchison, on Wednesday proposed raising the merger ratio to 1.066 CKI shares for one Power Asset share, compared with the original ratio of 1.04 announced on September 8. The proposed special dividend is to be raised to HK$7.50 a share, 50 per cent more than the... https://www.scmp.com/business/companies/article/1865072/cki-sweetens-its-offer-power-assets?utm_source=rss_feed https://www.scmp.com/business/companies/article/1865072/cki-sweetens-its-offer-power-assets?utm_source=rss_feed Wed, 07 Oct 2015 16:00:07 +0000 Cheung Kong Infrastructure should sweeten its offer for Power Assets or risk seeing the proposed merger voted down by Power Assets' minority shareholders, analysts say. "Our discussions with investors suggest that the deal is unlikely to go through at the proposed merger ratio of 1.04 CKI shares for one Power Assets share," CLSA's regional head of Asia-Pacific power research, Rajesh Panjwani, said in a research note on Monday. "We believe it makes more sense for the group to revise the ratio and... https://www.scmp.com/business/markets/article/1864688/li-ka-shing-led-cki-should-raise-offer-power-assets-secure-proposed?utm_source=rss_feed https://www.scmp.com/business/markets/article/1864688/li-ka-shing-led-cki-should-raise-offer-power-assets-secure-proposed?utm_source=rss_feed Tue, 06 Oct 2015 12:52:58 +0000 Cheung Kong Infrastructure Holidings (CKI) and Power Assets Holdings  entered into a joint venture to pay ¤288 million to acquire a wind energy company in Portugal, the companies said on Friday. CKI and Power Assets  will each hold 50 per cent interest in the joint venture and pay half of the consideration, or ¤144 million, for  50 per cent  of Portugal’s Iberwind Group. The core business of Iberwind is the generation of electricity from wind power. Its portfolio comprises about 684 megawatts... https://www.scmp.com/business/companies/article/1863732/cheung-kong-infrastructure-and-power-assets-buy-portuguese-wind?utm_source=rss_feed https://www.scmp.com/business/companies/article/1863732/cheung-kong-infrastructure-and-power-assets-buy-portuguese-wind?utm_source=rss_feed Fri, 02 Oct 2015 18:42:50 +0000 In the latest step in the reorganisation of Li Ka-shing's business empire, Cheung Kong Infrastructure Holdings (CKI) has announced a proposed merger with associate Power Assets Holdings. The proposed merger would give the group's infrastructure and utilities arms a stronger balance sheet in order to capture global infrastructure opportunities, CKI chairman Victor Li Tzar-kuoi, Li's eldest son, said. He told a press conference yesterday the latest reorganisation had no "political angle". There... https://www.scmp.com/business/companies/article/1856352/latest-li-ka-shing-shake-cheung-kong-infrastructure-plans-merger?utm_source=rss_feed https://www.scmp.com/business/companies/article/1856352/latest-li-ka-shing-shake-cheung-kong-infrastructure-plans-merger?utm_source=rss_feed Tue, 08 Sep 2015 11:30:15 +0000 Li Ka-shing's international energy utility investment unit Power Assets Holdings would be better off merging with parent Cheung Kong Infrastructure (CKI) to enable its idle cash to be better utilised, say analysts. It would help Power Assets' HK$68 billion cash pile, boosted by the sale and separate listing of its power unit Hongkong Electric last year, to be used to invest in a wider array of industries. Power Assets focuses only on power and gas while CKI also invests in businesses with stable... https://www.scmp.com/business/companies/article/1845910/merger-li-ka-shings-cki-power-assets-could-enhance-market-value?utm_source=rss_feed https://www.scmp.com/business/companies/article/1845910/merger-li-ka-shings-cki-power-assets-could-enhance-market-value?utm_source=rss_feed Sun, 02 Aug 2015 13:15:00 +0000 Power Assets Holdings, an international utilities firm controlled by tycoon Li Ka-shing, posted a net profit of HK$3.24 billion for the first six months of the year after booking a HK$532 million loss on a stake sale in its Hong Kong power unit. Excluding the disposal loss, its underlying pre-tax profit would be HK$3.75 billion, flat compared with the HK$3.7 billion in the first half of last year, when a HK$52.93 billion gain was booked on the asset disposal from the separate listing of the... https://www.scmp.com/business/companies/article/1843027/li-ka-shings-power-assets-posts-1h-profit-despite-loss-stake-sale?utm_source=rss_feed https://www.scmp.com/business/companies/article/1843027/li-ka-shings-power-assets-posts-1h-profit-despite-loss-stake-sale?utm_source=rss_feed Thu, 23 Jul 2015 05:00:30 +0000 Power Assets Holdings, an international utilities firm controlled by tycoon Li Ka-shing, has sold a 16.5 per cent stake in HK Electric Investments (HKEI) to Qatar’s sovereign wealth fund for HK$7.68 billion. Power Assets will remain HKEI’s largest shareholder with a 33.37 per cent stake after the sale. Together with a 3.37 per cent stake separately acquired earlier from Cheung Kong Infrastructure Holdings, Qatar Investment Authority will hold a 19.9 per cent stake in HKEI. “As we said at the... https://www.scmp.com/business/companies/article/1819169/power-assets-sells-down-stake-its-hong-kong-electricity-unit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1819169/power-assets-sells-down-stake-its-hong-kong-electricity-unit?utm_source=rss_feed Tue, 09 Jun 2015 05:30:00 +0000 Tycoon Li Ka-shing-controlled utilities firm Power Assets posted a 28 per cent decline in underlying profit for last year due to the spin-off of its Hong Kong power unit and the absence of tax credits that boosted profit of its operations in Britain in 2013. Net profit amounted to HK$61 billion, up 446 per cent from HK$11.17 billion in 2013, thanks to a HK$52.93 billion one-off gain from the separate flotation of its Hong Kong power generation and distribution business in the form of an... https://www.scmp.com/business/companies/article/1722320/power-assts-posts-lower-underlying-profit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1722320/power-assts-posts-lower-underlying-profit?utm_source=rss_feed Tue, 24 Feb 2015 05:45:30 +0000 Power Assets Holdings, an international utilities firm controlled by tycoon Li Ka-shing, says it will seek to buy assets in developed markets to plug a profit gap after it sold a large chunk of its Hong Kong power unit. It posted a net profit of HK$11.17 billion for last year, up 14.8 per cent from 2012 and 11 per cent higher than the HK$10.1 billion average forecast of 14 analysts polled by Thomson Reuters. The growth was driven by a 40 per cent rise in profits from its British utilities units.... https://www.scmp.com/business/companies/article/1435286/power-assets-plans-overseas-acquisitions-after-hong-kong-sale?utm_source=rss_feed https://www.scmp.com/business/companies/article/1435286/power-assets-plans-overseas-acquisitions-after-hong-kong-sale?utm_source=rss_feed Tue, 25 Feb 2014 17:14:13 +0000 Power Assets, an international utilities firm controlled by Asia's richest man, Li Ka-shing, said its shareholders had approved a proposed spin-off listing of its Hong Kong electricity arm, paving the way for a fund-raising scheme worth up to HK$44.4 billion. A handful of minority shareholders had opposed the separate listing and management had explained the benefits of floating the assets to them, Power Assets chairman Canning Fok Kin-ning said after the poll at a shareholders' meeting... https://www.scmp.com/business/companies/article/1399287/investors-give-nod-power-assets-spin?utm_source=rss_feed https://www.scmp.com/business/companies/article/1399287/investors-give-nod-power-assets-spin?utm_source=rss_feed Mon, 06 Jan 2014 17:45:00 +0000 Power Assets, an international utilities firm controlled by Li Ka-shing, is expected to start marketing next week for the separate listing of its Hong Kong unit - worth up to HK$44.4 billion - through the sale of units in a newly set-up trust firm. "Pre-marketing" presentations would be held next week to introduce the trust firm to selected fund managers and gauge their interest, followed by a formal roadshow the following week, a person close to the deal said. Power Assets said in a circular to... https://www.scmp.com/business/companies/article/1396945/lis-power-assets-readies-sales-pitch-spin?utm_source=rss_feed https://www.scmp.com/business/companies/article/1396945/lis-power-assets-readies-sales-pitch-spin?utm_source=rss_feed Fri, 03 Jan 2014 18:14:00 +0000 Power Assets, controlled by Li Ka-shing, has approached banks for a HK$37.5 billion three-year term loan to back the spin-off of its Hong Kong electricity arm, three people familiar with the matter said. Loan proceeds would be used to fund the acquisition of the entire stake of Hongkong Electric by the spin-off unit, HK Electric Investments, the people said. Price talk for the facility was at an all-in rate, which included interest and fees, of about 110 basis points over the Hong Kong interbank... https://www.scmp.com/business/companies/article/1327554/power-assets-seeks-hk375b-loan-facility?utm_source=rss_feed https://www.scmp.com/business/companies/article/1327554/power-assets-seeks-hk375b-loan-facility?utm_source=rss_feed Tue, 08 Oct 2013 16:00:00 +0000 Power Assets Holdings, the sole electricity supplier to Hong Kong and Lamma islands, says it will continue to seek opportunities to expand its "asset portfolio" after posting a 10 per cent rise in first-half profit. The company's overseas acquisitions have continued to boost its profit, while earnings from its domestic business have remained flat. Overseas operations contributed 63.4 per cent of total profit in the first half, compared with 59.5 per cent in the year-earlier period. The figure... https://www.scmp.com/business/commodities/article/1290026/profit-power-assets-jumps-10pc-overseas-operations?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1290026/profit-power-assets-jumps-10pc-overseas-operations?utm_source=rss_feed Wed, 24 Jul 2013 16:00:00 +0000 Two companies controlled by Hong Kong tycoon Li Ka-Shing, including Cheung Kong Infrastructure Holdings (CKI), have been sued by Australia’s tax authority. The cases against CKI and Power Assets Holdings, in which CKI also holds a majority interest, were filed on June 14 and heard on Friday, according to the website of the Federal Court of Australia. The Australian Taxation Office (ATO) is accusing CKI and Power Assets for failing to pay more than A$750 million (HK$5.4 billion) in tax, the... https://www.scmp.com/business/companies/article/1270886/australia-tax-office-sues-cheung-kong-infrastructure-power-assets?utm_source=rss_feed https://www.scmp.com/business/companies/article/1270886/australia-tax-office-sues-cheung-kong-infrastructure-power-assets?utm_source=rss_feed Fri, 28 Jun 2013 02:58:52 +0000 Net profit at Power Assets, the power firm controlled by Li Ka-shing, rose 7 per cent last year to HK$9.73 billion. Turnover grew 2 per cent to HK$10.42 billion, thanks to a 1 per cent increase in the average basic tariff and a 1 per cent gain in unit sales of electricity in Hong Kong, the company said. Net profit from operations outside Hong Kong surged 11.9 per cent to HK$5.11 billion, while that from operations in the city grew 2.4 per cent to HK$4.62 billion. "Our international businesses,... https://www.scmp.com/business/commodities/article/1184264/offshore-operations-boost-earnings-power-assets?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1184264/offshore-operations-boost-earnings-power-assets?utm_source=rss_feed Wed, 06 Mar 2013 16:00:00 +0000 Tso Kai-sum, who has served at least four decades in Li Ka-shing's Cheung Kong group of companies, will step down as the group managing director of the utilities unit Power Assets Holdings from January 1. He will be succeeded by Wan Chi-tin, Power Assets' executive director and director of engineering (planning and development). Wan, 62, has worked for Power Assets since 1978. He was chief executive of Power Assets' Australian units Powercor and CitiPower between 2000 and 2003. Tso will become a... https://www.scmp.com/business/companies/article/1114707/power-assets-veteran-steps-down-chief?utm_source=rss_feed https://www.scmp.com/business/companies/article/1114707/power-assets-veteran-steps-down-chief?utm_source=rss_feed Fri, 28 Dec 2012 16:00:00 +0000