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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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Property 

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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Property 

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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Owners of underperforming hotels see redevelopment as a quick fix to city’s housing woes after CK Assets’ proposal

An increasing number of hotel owners in Hong Kong’s non-core areas are considering rebuilding their property into residential use while viewing it as a quick fix for the city’s perennial housing shortfall, following CK Asset Holdings’ proposal to redevelop its 1,100 room hotel into a housing project. “Why on earth do we have so many rooms in industrial and outlying areas that get so few tourists while so many Hongkongers are still waiting for a chance to buy their own house? asked William Cheng Kai-man, chairman of Magnificent Estates, which…

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CK Asset’s planned hotel-to-housing project in Hong Kong aims to house 7,500 people

The hotel that CK Asset Holdings will convert into a dense housing estate would provide homes to 7,500 people in the New Territories by as early as 2022, according to consultants hired by the company. The redevelopment of the 1,100 -room Harbour Plaza Resort City hotel in Tin Shui Wai into two residential towers with 5,000 flats would cater to three times the number of people than the hotel could. But the expected population increase, said traffic advisers of the project CTA Consultants, would not create congestion in the neighbourhood…

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CK Asset plans to convert New Territories hotel into Hong Kong’s biggest housing estate of the last decade

A hotel in the New Territories will be converted into what may be the biggest private housing estate to be built in Hong Kong in the last decade, under plans submitted by CK Asset Holdings, the flagship company of retired tycoon Li Ka-shing. The conglomerate has submitted an application to redevelop its 1,100-room Harbour Plaza Resort City hotel in Tin Shui Wai into a dense housing estate comprising 5,000 flats, according to a document filed with the town planning board. It is just too exaggerated. Unfortunately, our developers only look…

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