Victor Li is Vice-Chair of Cheung Kong Holdings.
Cheung Kong (Holdings) Limited, [Cheung Kong
Holdings], is the flagship of the Cheung Kong Group, the leading Hong Kong
based multi-national conglomerate. In Hong Kong, members of the Cheung Kong
Group include Cheung Kong (Holdings) Limited (Ticker: 0001), Hutchison
Whampoa Limited (Ticker: 0013), Cheung Kong Infrastructure Holdings Limited
(Ticker: 1038) and Hongkong Electric Holdings Limited (Ticker: 0006), which
are constituent stocks of the Hang Seng Index; Hutchison Global
Communications Holdings Limited [Ticker:0757], Hutchison Harbour Ring
Limited [Ticker: 0715] and TOM Group Limited (Ticker: 2383), which are
companies listed on the Main Board of the Hong Kong Stock Exchange; while CK
Life Sciences Int'l., (Holdings) Inc. (Ticker: 8222) and TOM Online Inc.
[Ticker: 8282] are companies listed on the Growth Enterprise Market.
The combined market capitalisation of the Cheung
Kong Group equates to HK$525 billion as at August 15, 2004; this accounts
for approximately 9% of the total market capitalisation of the Hong Kong
Cheung Kong Holdings is one of the largest developers in Hong Kong for
residential, commercial and industrial properties. About one in twelve
private residences in Hong Kong was developed by the company.
Cheung Kong Holdings is the largest shareholder of
Hutchison Whampoa Limited holding a 49.9% interest. With origins dating back
to the 19th century, Hutchison is a Hong Kong-based conglomerate which
operates five core businesses in 42 countries: ports and related services;
telecommunications; property and hotels; retail and manufacturing; and
energy and infrastructure.
In year 2000, Cheung Kong Holdings began its biotech operations, whose
business areas cover two dimensions - health and environmental
sustainability. Products developed by this biotech arm, CK Life Sciences
Int'l., (Holdings) Inc., (CK LIfe Sciences), are categorised into five areas
- eco-agriculture, bioremediation, dermatologicals, nutraceuticals and
pharmaceuticals. CK Life Sciences was listed on the Growth Enterprise Market
of the Hong Kong Stock Exchange in July 2002.
Cheung Kong Holdings has a portfolio of businesses in the IT and Internet
related arena. These ventures include TOM Group Limited and
A group of Hong Kong businessmen led by Li Ka-shing's
eldest son Victor are to invest more than HK$13 billion in a string of
The deals were signed or pledged at a ceremony on
Thursday involving business and government leaders from both cities.
Heading the deals was Li Ka-shing's Cheung Kong
(Holdings) which confirmed plans valued at more than HK$2 billion to build a
packaging and printing centre in Guangzhou, plus additional facilities at a
major toy wholesaling hub already under construction. The other Hong Kong
companies signing development agreements include Kowloon Dairy, Elec &
Eltek International Holdings and home appliance manufacturer Raymond
The packaging and printing factory, to be built in
Fangcun district in Guangzhou, is worth US$133 million (HK$1 billion). The
other supporting project for the Guangzhou International Toy and Gifts City
in Huangpu, signed by Cheung Kong and Huangpu district government, involves
US$130 million. A third major project involving Cheung Kong in a second
printing complex in Baiyun district and said to be worth US$450 million was
deferred - because of Beijing's economy cooling measures.
A Guangzhou government source said: ``Beijing's
economy tightening policy has set restrictions over applications for
non-agricultural use of farmland, so additional approval is needed from the
State Council for Cheung Kong.''
Hong Kong-listed Elec & Eltek International
Company, a subsidiary of Elec & Eltek International Holdings, plans to
invest US$60 million (HK$468 million) to expand its business in Guangzhou.
And Raymond Industrial signed a letter of intent
for a US$50 million expansion of its electronic appliance business in the
Nansha Development Zone. Kowloon Dairy plans a US$10 million joint venture
with Guangzhou Fengxing Dairy and a milk-exporting project worth US$3.77
Financial Secretary Henry Tang said he would
announce more details today on the Closer Economic Partnership Arrangement (Cepa)
with the mainland. Tang will attend the joint standing committee meeting of
Cepa in Beijing today.
On the sidelines of the investment signing
ceremony on Thursday, Guangzhou's mayor Zhang Guangning appealed for Hong
Kong investment in the multi-billion yuan Asian Games in 2010.
``We will put forward projects including
environmental protection, ecological and health and medical systems, as well
as tourism, worth 200 billion yuan [HK$188.56 billion].''
- by Olivia Chung Hong
27 August 2004