Power Assets
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 / company

Power Assets

Power Assets
Power Assets
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.
Chairman / President
Andrew John Hunter
CEO / Managing Director
Tsai Chao Chung, Charles
CFO / Finance Director
Chan Kee Ham, Ivan
Industry
Utilities, Energy
Website
powerassets.com
Headquarters address
6th Floor, 32-36 Dundas Street, Hong Kong
Stock Code
SEHK:0006
Year founded
1976
Eversholt Rail leases passenger trains, as well as freight locomotives, to rail and freight operators. Photo: Handout
Mergers & Acquisitions

Li Ka-shing’s CK Infrastructure gets nod to sell UK train leasing firm

Deal to dispose of UK Rails (Eversholt Rail), which was bought in 2015, ‘will generate substantial revenue’, company says.

Hong Kong stock market

Hong Kong stocks jump into 2026 with biggest surge since May

Hong Kong company reporting season

Li Ka-shing’s Power Assets surges on special dividend, higher profit

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Stocks

Power Assets shares surge 10.6pc on special dividend payment

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. Photo: Nora Tam

Power Assets board approves HK$5 a share special dividend

Power Assets will remain cash rich after special dividend and Duet bid

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Hong Kong company reporting season

Li Ka-shing’s Power Assets posts higher interim profit due to disposal loss last year

Li Ka-shing’s Power Assets posts higher interim profit due to disposal loss last year
Li Ka-shing

Li Ka-shing’s Power Assets shares fall after board decides against special dividend

Li Ka-shing

Li Ka-shing’s Power Assets and CKI to invest in his troubled Canada-based oil firm Husky

Li Ka-shing

Li Ka-shing’s Power Assets posts 2 per cent growth in underlying profit

<p>Net profit of HK$7.73 billion in line with analyst estimates</p>
Li Ka-shing

Li Ka-shing rejected: Power Assets minority shareholders block CKI merger

Li Ka-shing rejected: Power Assets minority shareholders block CKI merger
Li Ka-shing

New | Tough decision for minority shareholders of Li Ka-shing-controlled CKI and Power Assets

New | CKI sweetens its offer for Power Assets

Portfolio | Li Ka-shing-led CKI should raise offer for Power Assets to secure proposed merger

The proposed merger would give the group's infrastructure and utilities arms a stronger balance sheet, CKI chairman Victor Li Tzar-kuoi said on September 8. Photo: Reuters

New | Cheung Kong Infrastructure and Power Assets to buy Portuguese wind power producer

Power Assets and Cheung Kong Infrastructure will each hold 50 per cent interest in the joint venture seeking to buy Portugal's Iberwind. Photo: Nora Tam
Li Ka-shing

In latest Li Ka-shing shake-up, Cheung Kong Infrastructure plans merger with Power Assets

Merger of Li Ka-shing's CKI, Power Assets could enhance market value, analysts say

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.

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New | Li Ka-shing’s Power Assets posts lower profit after stake sale in Hong Kong unit

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.

Power Assets chairman Canning Fok (centre) says the group's cash position is strong. Photo: Nora Tam

Power Assets sells down stake in its Hong Kong electricity unit to Qatar sovereign wealth fund

Li Ka-shing

Li Ka-shing-controlled utilities firm Power Assets posts lower underlying profit

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.

Power Assets plans overseas acquisitions after Hong Kong sale

Power Assets last month sold a 50.1 per cent stake of its previously wholly owned Hong Kong unit, Hongkong Electric, to HK Electric Investments, a new trust firm separately listed in the city. Photo: David Wong

Investors give nod to Power Assets spin-off

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.

Hongkong Electric reported a net profit of HK$3.56 billion for the nine months to September last year. Photo: K.Y. Cheng

Li's Power Assets readies sales pitch for spin-off

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.

HK Electric

Power Assets seeks HK$37.5b loan facility

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 offered rate for minimum pledges of HK$3 billion, they said.

Profit of Power Assets jumps 10pc on overseas operations

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.

Sanford C. Bernstein analyst Michael Parker says the city is a tax-efficient location from which to run a geared, global utility fund. Photo: AFP
Cheung Kong

Australia tax office sues Cheung Kong Infrastructure, Power Assets

Australian tax officials are taking aim at two companies controlled by Li Ka-shing. Photo: SCMP
Energy

Offshore operations boost earnings for Power Assets

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.

Power Assets veteran steps down as chief

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