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Victor Li

Chairman Victor Li Tzar-kuoi says bets against Hong Kong’s long-term outlook have been wrong in the past. Photo: Facebook/John KC Lee
Hong Kong property

Li Ka-shing’s entities post lower profits, won’t bet against Hong Kong’s outlook

Earnings at CK Hutchison and CK Asset weakened in the first half of 2024 amid global trade conflicts and property market slump at home, according to stock exchange filings.

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Banking & finance

Family office operators in Hong Kong plan US$100 million capital-investment fund

Banking & finance

Elder scion of Hong Kong’s wealthiest clan mulls a family office

Retailing

ParknShop imports mainland goods as Hongkongers hunt for bargains in Shenzhen

The supermarket chain is importing more products from mainland China in a bid to lure Hongkongers who have taken to travelling to Shenzhen and other mainland cities where they can shop and dine for cheaper, says chairman of CK Hutchison.

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In 2023, the geographical segment of AS Watson that includes ParknShop saw revenue plummet 15 per cent. Photo: K. Y. Cheng
Li Ka-shing

CK Infrastructure’s Victor Li will invest in Hong Kong if returns are reasonable

‘Hong Kong is our hometown, [and] if there are projects with reasonable returns, we will definitely invest,’ Victor Li says at CK Infrastructure’s annual general meeting on Wednesday.

Energy

3 Li Ka-shing firms acquire Northern Ireland’s largest natural gas network

A consortium of CK Infrastructure, CK Asset Holdings and Power Assets Holdings is acquiring the largest natural gas network company in Northern Ireland. The deal is expected to be completed by the end of April.

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Li Ka-shing

CK Hutchison’s Victor Li and Canning Fok step aside as managing directors

Li and Fok will stay on as co-executive directors, while Fok will serve as deputy chairman and chairman of its telecoms arm.

Victor Li Tzar-kuoi, chairman of CK Asset and CK Hutchison, at the announcement of CK Asset’s 2022 results. Photo: Handout
Hong Kong property

Hong Kong must do whatever it takes to maintain financial hub status: Victor Li

‘There are only a few [international financial centres], and Hong Kong is one of them. It is hard-won. We must not lose this place,’ CK Hutchison and CK Asset chairman says.

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Crime in Hong Kong

Arrest of suspected murderer puts Hong Kong’s long crime wave back in spotlight

Arrest brings back memories of gunfights on the streets between police and armed gangs in 1980s-90s.

Hong Kong stock market

Li Ka-shing’s CK Asset to resume buy-backs to boost share price, analysts say

Citi and Jefferies, which have lowered their target prices for the developer’s stock, see more buy-backs as likely given that the company has ‘limited positive catalysts’ to drive its stock price in the near term.

People walk near flags of CK Hutchinson Holdings outside the company’s headquarters in Hong Kong on March 21, 2019. Photo: AFP
Hong Kong property

Li Ka-shing’s flagships see profits plunge as high interest rates take a toll

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.

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Flags of CK Hutchison outside the Cheung Kong Centre in Central. The conglomerate said net profits plunged 41 per cent to HK$11.2 billion (US$1.43 billion). Photo: SCMP Pictures
Hong Kong politics

High-powered think tank to boost Hong Kong’s socio-economic development unveiled

More than 50 academics and business leaders with extensive experience of China lined up for new group.

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Hong Kong property

Victor Li says government has to ‘make the numbers work’ for Lantau project

Financial Secretary Paul Chan has said the government will push ahead with moves to increase land supply as high housing prices remain an issue.

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Mergers & Acquisitions

Li Ka-shing’s energy flagship has US$2.3 billion cash for shopping

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.

Tycoon Li Ka-shing (left) with his elder son Victor Li Tzar-kuoi (right) during the annual dinner of CK Asset Holdings in Wan Chai before the elder magnate’s retirement, on 10 January 2020. Photo: Dickson Lee
Hong Kong property

Li Ka-shing flagship firms post profit rise, showcase strength of diverse portfolio

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.

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Li Ka-shing’s Cheung Kong Center II development in Hong Kong’s Central. The 41-storey office building is expected to be completed this year. Photo: Jonathan Wong
Two Sessions 2023

New faces in Beijing after ‘two sessions’ is good news for Hong Kong: analysts

New executive vice-premier in Beijing, Ding Xuexiang, poised to take over oversight role for Hong Kong and Macau.

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Hong Kong property

Hong Kong’s richest man plans to add 15,075 homes to city’s supply

The land value is estimated at HK$22 billion, although Hutchison has not put a price tag on developing the project.

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Two Sessions 2023

Beijing official for Hong Kong affairs urges city delegates to be ‘more proactive’

Hong Kong and Macau Affairs Office director Xia Baolong also tells Hong Kong delegates to promote implementation of ‘one country, two systems’ principle.

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Xia Baolong, director of the State Council’s Hong Kong and Macau Affairs Office. Photo: Handout
Medicine

Victor Li’s CK Life partners Chinese medtech firm to develop cancer vaccines

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.

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Hong Kong property

Li Ka-shing’s CK Hutchison, CK Asset post first-half earnings increases

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.

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Mergers & Acquisitions

CK Asset bids for Evergrande’s Hong Kong tower in lifeline for developer

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.

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A view of China Evergrande Centre, with a billboard advertising the developer’s electric cars, on the waterfront of Victoria Harbour in Hong Kong’s Wan Chai district on 1 September 2021. Photo: Edmond So.
Hong Kong property

Li family’s flagships beat earnings forecasts with assets, discipline

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.”

People walk before flags of CK Hutchinson Holdings outside the company’s headquarters in Hong Kong on March 21, 2019.Photo: AFP
Cheung Kong

CK Asset sells London office block to Korean pension fund for US$1.6 billion

CK Asset Holdings bought 5 Broadgate, the London headquarters of UBS, with proceeds from the sale of The Center office tower in Hong Kong.

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Li Ka-shing

Victor Li’s UK power asset attracts bidders in potential billion-dollar deal

The preliminary expression of interest has yet to be ‘properly analysed’, Victor Li companies say.

Hutchison

CK Hutchison gets conditional approval to sell UK tower assets in US$4 billion deal

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).

Cellnex will pay CK Hutchison in cash and shares. Photo: Nora Tam
Hong Kong property

CK Asset beats 15 rivals with US$91.8 million bid for Yuen Long plot

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.

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The plot of land at the junction of Lau Yip Street and Chung Yip Road in Yuen Long, which has been won by CK Asset Holdings. Photo: May Tse
Cheung Kong

Li Ka-shing’s flagships post better-than-expected results amid recovery

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.

Hong Kong company reporting season

Profits slump at Li Ka-shing’s flagships Hutchison and CK Asset

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.

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Victor Li
Victor Li
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.
Born
1 Aug 1964
Industry
Business
Job Title
Businessman
last updated:
7 October, 2024
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