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How savvy Li Ka-shing profits from this loss-making firm’s ‘healthy ageing’ product

Li Ka-shing, one of Hong Kong’s best known tycoons in his nineties, puts his money where his mouth is when it comes to fighting ageing.He has been taking Tru Niagen, a “healthy ageing supplement” made by one of his investees, since he was first introduced to it more than two years ago, according to Frank Jaksch, the co-founder and chairman of ChromaDex.Li’s private venture capital unit Horizons Ventures ploughed US$25 million into Nasdaq-listed ChromaDex in April 2017 and is now its largest… Source link

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Li & Fung urges US clients to shift away from China as ‘all eggs in one basket can be dangerous’

Global supply chain giant Li & Fung is encouraging its American customers to shift production away from China as tariffs from an escalating trade war make Chinese-made goods more expensive for US companies.“What we think now is that no matter if there is a deal or not, people should diversify out of China … you cannot put all your eggs in one basket. It is very dangerous,” said chief executive Spencer Fung at a press conference on Monday.The 113-year-old Hong Kong company supplies apparel,… Source link

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Singapore 

Lee Hsien Yang’s son Li Huanwu marries male partner in South Africa, Singapore News

PETALING JAYA – The grandson of the late Singapore prime minister Lee Kuan Yew, Li Huanwu, married his male “soul mate” in Cape Town, South Africa. This was revealed by Li’s partner, Heng Yirui, who made the announcement on his personal Instagram account on Friday (24 May). “Today I marry my soul mate. Looking forward to a lifetime of moments like this with (Huanwu),” said Heng in his post. The couple also sent photos of their wedding to Pink Dot Singapore, a non-profit movement against lesbian, gay, bisexual and transgender…

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David Li Kwok-po steps down as chief executive at Bank of East Asia, hands over century-old bank’s reins to his two sons

David Li Kwok-po, the third-generation scion of the family that founded Hong Kong’s very first Chinese-owned bank, will step down as chief executive on July 1, according to a statement by the Bank of East Asia.Li, who turned 80 in March, will remain the executive chairman of the century-old bank, and keep his title as executive director. His two sons Adrian David Li Man-kiu and Brian David Li Man-bun will take over as co-chief executives, the bank said.“I have worked half a century, and am now… Source link

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Li Hejun, once China’s richest man, gets approval from shareholders to take troubled Hanergy unit private

Hanergy Thin Film Power Group, the company whose stunning stock market performance once made its chairman the richest man in China, will be delisted from the Hong Kong stock exchange next month after shareholders approved plans to take it private.The company said in a filing to the exchange on Sunday that 97.25 per cent of shareholders had voted in favour of the privatisation scheme in a shareholder meeting a day earlier. The vote gives the green light for the firm to delist on June 11, and… Source link

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China 

China turns attention to jobs as trade war casts shadow over economy, with Li Keqiang demanding jobs for graduates, ex-military and more

Chinese Premier Li Keqiang has vowed to mobilise all resources to create jobs and stabilise the employment market as the China-US trade war threatens to drag on the economy.Chairing a national conference on employment in Beijing on Monday, Li demanded that cadres at all levels make job creation their top priority.The premier said priority should be given to fresh graduates, demobilised military personnel and migrant workers, all of whom faced challenges in the job market.“Supporting employment… Source link

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Jay-Z and Katy Perry among celebrities joining Temasek and Li Ka-shing in US$300 million Impossible Foods funding round

Impossible Foods, a leading producer of plant-based meat alternatives, has announced a new US$300 million funding round led by Singapore sovereign wealth fund Temasek and Li Ka-shing’s venture capital fund, Horizon Ventures.The Oakland, California-based start-up said the funds raised will be used to accelerate its “rapid scale-up”, including the addition of 50 people to its 70 full-time employees and capacity expansion in California.Joining Li, Hong Kong’s richest businessman, in the Series E… 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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Victor Li and Richard Li, the sons of Hong Kong’s richest man Li Ka-shing, work together for first time on heritage project

A newly refurbished heritage project in the tourist hotspot of Tsim Sha Tsui is the result of an unusual collaboration.The revamp of 1881 Heritage, a historical building that housed the former Marine Police Headquarters, involved the two sons of Hong Kong’s richest man Li Ka-shing and their companies working together on a project for the first time.Victor Li Tzar-kuoi, 54, and his younger brother Richard Li Tzar-kai, 52, on Wednesday co-hosted a ceremony with Chief Executive Carrie Lam Cheng… Source link

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