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Power Assets
TOPIC
 / 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
In today’s environment, with China’s recovery still uneven and private-sector investment appetite weak, companies are finding fewer productive places to deploy capital, according to an analyst. Photo: Shutterstock
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Mergers & Acquisitions

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Mergers & Acquisitions

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Hong Kong stock market

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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

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Power Assets board approves HK$5 a share special dividend

Hong Kong-listed Power Assets has declared a special dividend payable on February 28, 2017. Photo: Felix Wong

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

Hong Kong company reporting season

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

Flag of Power Assets Holdings outside Cheung Kong Centre in Central. Photo: Nora Tam
Li Ka-shing

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

The Husky Midstream storage tank farm at Hardisty, Alberta. Photo: SCMP Pictures
Li Ka-shing

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

Li Ka-shing

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

Cheung Kong Hutchison Whampoa Chairman Li Ka-shing speaks to medias at the Harbour Grand Kowloon at Whampoa Garden in Hung Hom. 23JUN15

New | CKI sweetens its offer for Power Assets

Analysts say the merger will create a bigger company that can invest in both energy and infrastructure projects. Photo: Bloomberg

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

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

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Li Ka-shing

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

The proposed merger is the latest step in the reorganisation of Li Ka-Shing’s business empire. Photo: Felix Wong

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.

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

Billionaire Li Ka-shing waves while about to get into his car. The tycoon's Power Assets Holdings has sold a 16.5 per cent stake in Hong Kong Electric Investments to Qatar's sovereign wealth fund. Photo: Handout
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.

Utilities firm Power Assets is controlled by tycoon Li Ka-shing. Photo: Bloomberg

Power Assets plans overseas acquisitions after Hong Kong sale

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.

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.

The power business is viewed as providing stable returns.
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.

Hongkong Electric

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.

Cheung Kong

Australia tax office sues Cheung Kong Infrastructure, Power Assets

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