Latest news with #RichardLiTzar-kai
South China Morning Post
23-03-2025
- Business
- South China Morning Post
Younger son of Hong Kong's Li Ka-shing invited to Beijing's key global business forum
Richard Li Tzar-kai, the younger son of Hong Kong's richest tycoon Li Ka-shing , has been invited to the high-profile China Development Forum that started on Sunday in Beijing, according to the list of attendees seen by the Post. Advertisement The younger Li would be attending as a business representative in his capacity as founder of Pacific Century Group, a Hong Kong-based private investment conglomerate with interests in technology, media, financial services, infrastructure and property. It is unclear whether he will participate in any panel discussion at the forum, which has brought together more than 80 top executives of global multinationals to Beijing for exchanges with Chinese officials. The two-day annual forum is a chance for foreign business leaders and China's state officials to discuss the country's growth targets and associated action announced at the 'two sessions' earlier this month. Also earlier this month, CK Hutchison Holdings, the port and infrastructure arm of Li Ka-shing's business empire, announced its decision to sell off global ports – including those in Panama – to a US consortium led by investment firm BlackRock in a US$23 billion transaction. Advertisement This came after US President Donald Trump alleged that China had the vital Panama Canal under its control and vowed to restore American dominance there.
South China Morning Post
28-01-2025
- Business
- South China Morning Post
Hong Kong tycoon Richard Li to sell HKEJ publisher to PCCW for US$9 million
Published: 7:07pm, 28 Jan 2025 Hong Kong tycoon Richard Li Tzar-kai is reshuffling his assets again, this time by selling his personal interest in the publisher of Hong Kong Economic Journal to telecommunications group PCCW for HK$70 million (US$9 million). PCCW, in which Li controls a 31.8 per cent stake, will buy the HKEJ publisher Clermont Media from an offshore trust company in which he is the settlor, according to a stock exchange filing on Tuesday. Li expects to capitalise an undisclosed amount of his loans to the publisher in the transaction, ending his direct interest since he took control of the publisher in 2006. The original cost of the acquisition was stated as US$38.5 million , according to the PCCW filing. The South China Morning Post, owned by Alibaba Group Holding, competes directly with the Hong Kong Economic Journal. The sale will end almost two decades of Richard Li's direct interest in the publisher of the Hong Kong Economic Journal. Photo: Edmond So The price tag was based on a multiple of 0.69 times revenue, using the average ratio of 0.64 times from three unnamed Hong Kong-listed industry peers, the filing showed.
