Latest news with #VictorLi
South China Morning Post
05-08-2025
- Business
- South China Morning Post
Revealed: Li Ka-shing's family home of 6 decades and the subject of ‘fabricated' rumours
Victor Li Tzar-kuoi 's denial this week that his family home was being sold has stirred public curiosity about the address that has been the residence of one of Hong Kong's wealthiest families and property developers for more than six decades. Located at 79 Deep Water Bay Road in the Southern district of Hong Kong Island, the mansion features three stories that sit atop an elevated podium with a swimming pool and a lawn to one side. The original building was bought in 1963 for HK$650,000 by Chong Yuet-ming, the late wife of tycoon Li Ka-shing . The building was previously registered to Thomas Le Cheuk-kuen, a local accountant who was the president of the Society of Chinese Accountants and Auditors of Hong Kong, according to Land Registry records. The Li family has lived at the same address ever since. They raised both their sons, Victor and Richard Li Tzar-kai , there. Victor and his wife, Cynthia Wong, and their children still live there with their father, who turned 97 last month. Li Ka-shing (left) with his elder son Victor Li Tzar-kuoi (right) during the annual dinner of his flagship company CK Asset Holdings in Wan Chai on January 10, 2020. Photo: Dickson Lee After Chong died in 1990, the deed of the property was transferred to Victor Li in 1991 as the administrator, and then registered under Li Ka-shing's name by assent in 1994.
South China Morning Post
27-06-2025
- Business
- South China Morning Post
Hong Kong leader taps 2 tech heads from Hangzhou's ‘Little Dragons' as advisers
The Hong Kong chief executive's Council of Advisers has welcomed three new members, including two tech bosses from Hangzhou's 'Six Little Dragons' and a mainland Chinese economist who was a senior official with the International Monetary Fund (IMF). The government on Friday announced the appointment of 34 members to the second term of Chief Executive John Lee Ka-chiu's Council of Advisers, with the two-year appointment to start on Tuesday. Victor Li Tzar-kuoi, chairman of CK Hutchison Holdings, will not remain in the group after his current appointment ends on June 30. Li's firm has been embroiled in the controversial sale of its overseas ports, including two Panama facilities. The two tech bosses from Hangzhou appointed to the council are Han Bicheng, CEO of BrainCo, which specialises in brain-machine interfaces, and Wang Xingxing, founder and CEO of humanoid robot maker Unitree Robotics. They are placed under the category of 'innovation and entrepreneurship' in the council. Zhu Min, who was the deputy managing director of the IMF from 2011 to 2016, is another newly appointed member of the council under the category of 'economic advancement and sustainability'. Zhu is currently a member of the senior expert advisory committee of the China Centre for International Economic Exchanges and part of the Board of Trustees of the World Economic Forum. During his trip to Hangzhou in April, Hong Kong's leader met representatives of the 'Six Little Dragons', all technology start-ups, including Han and Wang, and visited BrainCo and Unitree.
South China Morning Post
22-05-2025
- Business
- South China Morning Post
Hong Kong developer CK Asset set to weather ‘stress test' conditions, chairman says
CK Asset Holdings , the flagship property developer of Hong Kong billionaire Li Ka-shing 's family, will weather the 'doldrums' in the city's commercial leasing market amid global economic uncertainties, according to chairman Victor Li Tzar-kuoi. 'No industry in this world is always well-performing, and demand for Hong Kong's retail and office properties is indeed slow at the moment,' the eldest son of Li Ka-shing said during the company's annual general meeting on Thursday. 'With approximately 88 per cent of our profit contribution coming from projects with recurring income, we are able to withstand the challenges of the local leasing market,' Li added. It will take time for the Hong Kong office market to emerge from its malaise, he said. The overall occupancy rate of CK Asset's current investment property portfolio in Hong Kong was around 86 per cent, Li said. Property agents estimated that CKC II, the developer's new tower in Admiralty, was 20 per cent occupied. Li did not provide occupancy figures for the building. 'We hope that when the market improves, CKC II's leasing performance will be better and better,' he said.
The Standard
22-05-2025
- Business
- The Standard
CK Hutchison vows full cooperation in ports business review
Chairman Victor Li highlighted the need to maintain a 'war chest' to cope with unforeseen challenges. Photo by REUTERS
South China Morning Post
22-05-2025
- Business
- South China Morning Post
Hong Kong's CK Hutchison stresses need for war chest in face of geopolitical tensions
CK Hutchison Holdings needs a war chest to maintain its fiscal health in the face of escalating geopolitical tensions, its chairman Victor Li Tzar-kuoi has said, with senior managers assuring the US$23 billion deal involving two Panama ports will comply with regulations. At the conglomerate's annual general meeting on Thursday, Li said that many uncertainties were arising from geopolitics and the tariff policies of various countries, adding he 'dared not' to forecast global economic development. 'Hong Kong is currently undergoing what I would call a 'stress test'. We are holding cash with fewer loans, adopting a cautious approach to navigate through difficult times,' Li said in a meeting. But he said that the group needed to 'maintain' its fiscal health with a war chest to cope with any unforeseen circumstances. 'With a financial backing, we can face any headwinds,' he said. CK Hutchison Chairman Victor Li. Photo: Facebook/John KC Lee At the first public event since the group announced on March 4 the proposed US$23 billion ports deal, excluding those in Hong Kong and China, the group's senior management shed some light on the transaction.
