Li Ka-shing's Son Invited to China Forum Amid Panama Port Deal
Richard Li, a son of Hong Kong billionaire Li Ka-shing, is invited to a high-profile forum in Beijing, in the midst of the escalating pressure concerning the sale of CK Hutchison's Panama port operations.
Richard Li is invited as a founder of Pacific Century Group to the China Development Forum organized by the Development Research Center of the State Council, according to a list of representatives. The forum is held from Sunday to Monday, with the country's top leaders including Premier Li Qiang in attendance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
China Wants In: $19B Port Mega-Deal May Flip Global Trade Power
A BlackRock-backed consortium is closing in on one of the year's most sensitive infrastructure deals: the $19 billion purchase of 43 ports from billionaire Li Ka-shing's CK Hutchison Holdings (CKHUF). But now, a twistChina Cosco Shipping , the country's largest state-owned maritime group, is in talks to join the group, according to people familiar with the matter. The consortium, led by Terminal Investment Ltd., the port arm of shipping giant MSC, could see Cosco brought in as a strategic investor to help smooth political frictionespecially around two of the ports that sit at the entrance to the Panama Canal. Warning! GuruFocus has detected 8 Warning Signs with CKHUF. Beijing has pushed back hard against the transaction, seeing it as a potential threat to its global trade footprint. Nationalist newspapers blasted the deal as a concession to U.S. pressure, and regulators reportedly warned state companies to steer clear of Li-linked ventures. But after high-level meetings between U.S. and Chinese officials in Switzerland, the idea of bringing Cosco on board began to gain traction. The Chinese foreign ministry later expressed support for Panama's right to protect its sovereigntywhile subtly pushing back on what it calls economic bullying. The Canal Authority itself isn't thrilled either: it recently raised flags over how concentrated control under MSC and BlackRock might undermine the canal's neutrality. CK Hutchison's exclusivity period for the talks ends in late July, and while a signing target in April has already been missed, momentum appears to be building. Cosco shares popped as much as 6% Friday on news of the discussions, while CK Hutchison rose 1.9%. But deal structure remains a sticking point. Under current terms, MSC would control all ports except the Panama pairthose would go to BlackRock. Even if that changes, MSC is still on track to become the world's largest terminal operator by volume, according to Drewry's Eirik Hooper. Whether Cosco gets a seat at the table could determine not just the deal's fatebut who really controls the future of global trade. This article first appeared on GuruFocus.
New York Post
a day ago
- New York Post
China-backed firms in talks to join stalled $19B Panama ports deal: report
Several China state-backed firms – including the country's largest shipping company – are reportedly in talks to join a stalled $19 billion deal for 43 global ports, including two along the Panama Canal. China's Cosco Shipping Corp. has held discussions about partnering with a global consortium headed by Italian billionaire Gianluigi Aponte's Terminal Investment Ltd., as well as US asset manager BlackRock and its Global Infrastructure Partners unit, sources familiar with the matter told Bloomberg. The move comes after Beijing's fierce opposition has jeopardized a deal that would hand over control of the ports owned by Hong Kong business magnate Li Ka-Shing to TiL and BlackRock, the world's largest asset manager led by Larry Fink. 3 China's largest shipping company is reportedly in talks to join a group of investors in a massive ports deal including two along the Panama Canal. REUTERS President Trump had touted the sale of the ports as a national security win after demanding the US 'take back' the Panama Canal and eliminate Chinese influence over the critical shipping lane. The inclusion of Cosco and other China state-backed companies emerged as a way to nudge the deal forward after intense trade talks between US officials and their Beijing counterparts over tariffs in Switzerland last month, sources told Bloomberg. The consortium is staring down a deadline in late July after a 145-day period for talks on the ports deal expires, and have already missed an initial goal of signing an agreement by early April. Aponte's family-run business – Mediterranean Shipping Company, which owns TiL – has emerged as the lead investor, though BlackRock is notably expected to take over the two Panama ports included in the sale. The deal is expected to crown Aponte's MSC as the world's largest terminal operator after acquiring the ports from Li's CK Hutchison Holdings. China has steadfastly opposed the deal over concerns it could hinder its global trade and shipping operations. 3 Hong Kong business magnate Li Ka-Shing is the senior adviser for ports operator CK Hutchison Holdings. Bloomberg via Getty Images Talks are ongoing and terms of the deal have not been finalized, sources told Bloomberg. BlackRock declined to comment. Cosco Shipping and TiL did not immediately respond to requests for comment. The White House and CK Hutchinson did not immediately respond to The Post's request for comment. The canal, which was finished by US engineers, was handed back to Panama between 1977 and 1999 under a Jimmy Carter-era treaty establishing permanent neutrality. 3 Italian billionaire Gianluigi Aponte owns Mediterranean Shipping Company. AFP via Getty Images The head of the operator of the Panama Canal has warned that the deal could threaten its commitment to neutrality. 'There is a potential risk of capacity concentration if the deal comes the way it is structured as we understand right now,' Ricaurte Vasquez Morales, administrator of the Panama Canal, told the Financial Times in an interview published this week. 'If there is a significant level of concentration on terminal operators belonging to an integrated or one single shipping company, it will be at the expense of Panama's competitiveness in the market and inconsistent with neutrality.'
Yahoo
2 days ago
- Yahoo
MoneyHero Group to Announce First Quarter 2025 Results
SINGAPORE, May 29, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (Nasdaq: MNY) ('MoneyHero' or the ' Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced that it will release its first quarter 2025 results on Friday, June 13, 2025 before market opens and will hold a related conference call to discuss the results at 8:00 a.m. EDT (or 8:00 p.m. Hong Kong / Singapore time) on the same day. Investors and other interested parties may listen to the call by clicking on the registration link for the webcast or audio conference at: Webcast: call: The webcast replay will be available on the Investor Relations website for 12 months following the event. About MoneyHero Group MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at December 31, 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended December 31, 2024. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit For inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
