Victor Li Tzar-Kuoi is the elder son of Li Ka-shing, a rags-to-riches tycoon known as “Superman” in Hong Kong, his adoptive home. Li Ka-shing in 2012 anointed Victor Li to follow him at the helm of flagship property developer Cheung Kong (Holdings) Ltd, and Hutchison Whampoa Ltd, a conglomerate whose activities span ports, telecoms retailing, energy and infrastructure. His younger brother is Richard Li Tzar-kai, chairman of phone, pay-television and Internet company PCCW Ltd, formerly Hongkong Telecom.
Financial Secretary Paul Chan has said the government will push ahead with moves to increase land supply as high housing prices remain an issue.
The younger Li’s comment underscores how many of the world’s biggest and wiliest investors are taking advantage of cheap valuations caused by the pandemic-led global economic slump to hunt for bargains.
Li Ka-shing, Hong Kong’s richest man, has shown how a diverse portfolio of investments has helped his flagship companies thrive, even as his city was saddled by the most severe economic slump in decades during the Covid-19 pandemic.
New executive vice-premier in Beijing, Ding Xuexiang, poised to take over oversight role for Hong Kong and Macau.
The land value is estimated at HK$22 billion, although Hutchison has not put a price tag on developing the project.
Hong Kong and Macau Affairs Office director Xia Baolong also tells Hong Kong delegates to promote implementation of ‘one country, two systems’ principle.
The Hong Kong-listed healthcare company, a unit of CK Hutchison Group, and XtalPi aim to use an AI platform to discover and design preclinical tumour vaccine candidates.
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.
The 26-storey tower, bought by Evergrande for HK$12.5 billion (US$1.61 billion) in 2015, is one of the key assets marked for disposal by the distressed Shenzhen-based developer.
The conglomerate, with businesses touching almost every aspect of the average Hongkonger’s life, said it was able to pull through the pandemic because of its “financial discipline, resilience and agility.”
CK Asset Holdings bought 5 Broadgate, the London headquarters of UBS, with proceeds from the sale of The Center office tower in Hong Kong.
The preliminary expression of interest has yet to be ‘properly analysed’, Victor Li companies say.
Britain’s competition watchdog has approved CK Hutchison Holdings’ sale of its tower assets in the United Kingdom to Spanish mobile telephone infrastructure operator Cellnex Telecom in a deal valued at about €3.7 billion (US$4 billion).
The land at the junction of Lau Yip Street and Chung Yip Road can yield a gross floor area of 78,575 sq ft, Lands Department says.
The two sets of financial results by one of Hong Kong’s bellwether conglomerates underscore how two successive quarters of economic growth is slowly trickling into corporate earnings, as the city continues to grapple with a recession and record high unemployment wrought by the coronavirus pandemic.
CK Hutchison and CK Asset posted sharply lower profits as economic disruptions caused by the pandemic took a toll on operations ranging from ports to property.
The top richest entrepreneurs attending China’s annual parliamentary meetings this year have seen their fortunes swell by an average of 68 per cent over the past year, according to research company Hurun Report.
Hong Kong tycoon Victor Li Tzar-kuoi’s CK Asset Holdings won its first tender for land at Hong Kong’s old airport, Kai Tak, on Wednesday. The site, Area 4E Site 2, was also the last residential plot up for grabs on its runway.
In just five years, Hong Kong property tycoon Pan Sutong has gone from ranking among Asia’s wealthiest people to having his company’s flagship headquarters seized by creditors chasing more than US$1 billion of debt.
The company, controlled by Hong Kong tycoon Li Ka-shing, is to sell 25,000 tower sites in the UK, Italy, Sweden, Denmark, Austria and Ireland, to Spanish mobile towers operator Cellnex Telecom.
Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings is poised to sell its European wireless towers business to Spanish mobile towers operator Cellnex Telecom for €10 billion (US$11.7 billion).
CK Hutchison is backing an US$18 billion merger between its unit Husky Energy and Canadian rival Cenovus Energy to help end losses from global oil-market slump.
Despite a series of purchases, CK Asset’s stock is sinking towards its record low set in March last year, while CK Hutchison is nearing its lowest level since 2015.
CK Hutchison’s profit first-half declined 29 per cent as pandemic hit its retail, ports and energy arms, while CK Asset’s profit fell by a much wider 35.5 per cent.
The true life ordeal of 4 of the region’s most famous businessmen who were kidnapped by triads or criminal gangs – but only 3 were ever seen again
CK Asset sells Chengdu mixed development project for US$1 billion to Yuzhou Group and Chengdu Ruizhou amid rising US-China tension.
New World Development, Wheelock and Co, and a joint venture owned by Li Ka-shing and Victor Li Tzar-kuoi buy nearly HK$1.5 billion worth of shares last month.
The introduction of the test kits comes as the coronavirus pandemic is developing a so-called second wave of worldwide infections in Europe and North America.
All eyes are on Li as he steers one of Hong Kong’s most renowned companies through a pandemic. The last time the city’s economy caught a similar slump in 2003, Cheung Kong’s reins were in the grips of an entrepreneur dubbed “Superman Li” for his deal making prowess.