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CK Asset sells 44 per cent of flats during weekend sale at Shanghai residential project as location, price controls draw buyers

Beijing’s policy of imposing curbs on how much developers can charge for homes has helped ignite sales, especially on the upper end of the market, as buyers snapped up nearly 500 units of a prime project in Shanghai at prices 10 per cent lower than a similar project.The sale, which took place at CK Asset Holdings’ project Upper West Shanghai, bodes well for other prime projects with artificially low prices, analysts said.CK Asset, which has two projects underway in Shanghai, netted 4.3 billion… Source link

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CK Asset says impact of protests on Hong Kong’s property market will be minimal, but trade war remains a long-term worry

The massive street protests triggered by the extradition bill will not have as big an impact on the city’s property market as the US-China trade war, according to a top executive of CK Asset Holdings, Hong Kong’s second largest developer.“There were only 20 days for consultation, which was obviously not enough,” said executive director Justin Chiu Kwok-hung on Tuesday, becoming the first major developer to publicly comment on the political issue that galvanised Hongkongers. “[The protests] show… Source link

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Deal maker Li Ka-shing and son Victor push CK Hutchison group of companies to the top of the league for advisory fees in Asia

Li Ka-shing, the Hong Kong tycoon known affectionately as “Superman” for his deal making prowess, was the biggest patron of investment banks and takeover consultants, with his flagship companies paying as much as US$126.9 million in fees in the past five years, according to a report by data provider Dealogic.The two listed flagships, CK Hutchison and sister company CK Asset Holdings, chaired by Victor Li Tzar-kuoi who took up the roles after his father retired in May last year, together with… Source link

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CK Hutchison controlled biopharmaceutical company Chi-Med applies to list in Hong Kong

Hutchison China Meditech, or Chi-Med, a biopharmaceutical company specialising in cancer and immunological drugs controlled by Hong Kong conglomerate CK Hutchison Holdings, has applied to list on the city’s stock exchange through a flotation comprising Hong Kong and global offerings.CK Hutchison, which currently holds a majority 60.2 per cent stake, plans to reduce its shareholding to below 50 per cent, as this will allow the deconsolidation of Chi-Med numbers into its financial statements… Source link

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CK Asset to extend leases to 18-months for selected rooms at four hotels as rental market softens

CK Asset Holdings, which is headed by retired tycoon Li Ka-shing’s elder son Victor Li Tzar-kuoi, will extend leases for 50 rooms at four of its hotels to 18 months from a year, amid signs that the residential rental market is trending downward.CK Asset said the offer would allow tenants to lock in a fixed fee under a longer lease term.The move comes as Hong Kong’s residential rental index fell to an eight-month low in March. Average rents in March were down 2.8 per cent from a peak in October……

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CK Asset is no longer a pure property company, a year after Victor Li takes over the flagship’s from ‘Superman’ dad

Victor Li Tzar-kuoi had a surprise for shareholders last month when he announced the 2018 earnings of the flagship company founded by his father: he paid the highest dividend growth among Hong Kong’s listed property developers.For CK Asset Holdings, the record payout – even if its core profit missed consensus estimate – was the culmination of a three-year restructuring that transformed one of the city’s best-known developers into one of Asia’s largest conglomerates, with operations spanning… Source link

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Health and beauty giant AS Watson opens 15,000th store as CK Hutchison chair Victor Li tries to emerge from father Li Ka-shing’s shadow

Founded almost two centuries ago as a simple dispensary, it is now part of the fabric of Hong Kong, selling everything from beauty products and tissues to snacks and its own brand of bottled water.Watsons is almost as ubiquitous as 7-Eleven, with at least one shop in every neighbourhood of the city. Breakneck expansion into overseas markets has seen AS Watson Group grow into the world’s biggest and fastest growing health and beauty retailer, opening a new store on average once every seven hours… Source link

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CK Hutchison and CK Asset post upbeat profit results, during Victor Li’s debut year as CEO

CK Hutchison Holdings and CK Asset Holdings, the listed flagships of tycoon Li Ka-shing, reported higher profit in the first set of annual results since his eldest son Victor Li Tzar-kuoi took over daily operations last May.CK Hutchison, the conglomerate with businesses spanning container ports, retail, telecommunications, and power plants, said net profit increased 11 per cent to HK$39 billion (US$4.97 billion) for the year ending December 31, beating the HK$38.4 billion average forecast of… Source link

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Brace for a 20 per cent decline in Hong Kong home prices, says senior director of CK Asset

Hong Kong home prices could be headed for a multi-year downtrend that knock valuations by up to 20 per cent, prompting major developers to slash prices for new homes along with the sliding market, according to a senior executive at CK Asset Holdings, the second largest developer in Hong Kong by capitalisation. CK Asset executive director Justin Chiu Kwok-hung said on Tuesday that home prices could drop 10 per cent this year and by up to 8 to 10 per cent next year, amid simmering trade tensions between China and…

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Is Victor Li the next Superman and can he outdo his father Li Ka-shing as he leads CK Asset into a new era?

After 35 years in the shadow of his illustrious father Li Ka-shing, Hong Kong’s richest man and fondly called “Superman” for his extraordinary entrepreneurial achievement, Victor Li Tzar-kuoi, is finally coming into his own. Victor, who took over as chairman of CK Asset Holdings and CK Hutchison from his father last May, is turning the focus of Hong Kong’s second largest developer by market capitalisation back to the city’s property market after the elder Li indicated in 2016 that the group would spread its net globally because of the challenges…

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