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August 6, 2010

Hutchison Whampoa, the Hong Kong-based company controlled by Li Ka-shing, announced better than expected results for the first half of 2010 on the back of growth in its ports, property and retail businesses and smaller than predicted losses in its mobile phone operations.

Hutchison Whampoa, the Hong Kong-based company controlled by Li Ka-shing, announced better than expected results for the first half of 2010 on the back of growth in its ports, property and retail businesses and smaller than predicted losses in its mobile phone operations.
 
The group's profits were up 12% to HK$6.5 billion compared with the same period last year, while losses in the 3G mobile phone business showed an 82% fall, shrinking to HK$998 million, compared with HK$5.5 billion for first half of 2009.

July 30, 2010

Li Ka-shing, the 82-year-old head of the Cheung Kong Group of companies, shows no signs of taking a back seat in his business empire as he leads a £5.8 billion acquisition bid for the UK electricity grid owned by EDF energy.

Li Ka-shing, the 82-year-old head of the Cheung Kong Group of companies, shows no signs of taking a back seat in his business empire as he leads a £5.8 billion acquisition bid for the UK electricity grid owned by EDF energy.  
 
One of Hong Kong's most famous businessmen is making the offer though Cheung Kong Infrastructure Holdings and Hong Kong Electric Holdings, both of which are subsidiary companies of the main conglomerate, and the Li Ka-shing foundation.
 

September 25, 2008

The Li family-controlled Bank of East Asia, the largest independent local bank in Hong Kong, has strenuously denied reports that the bank is in trouble after thousands of people queued outside its branches yesterday to withdraw their savings.

The Li family-controlled Bank of East Asia, the largest independent local bank in Hong Kong, has strenuously denied reports that the bank is in trouble after thousands of people queued outside its branches yesterday to withdraw their savings.
 
The run on the bank was prompted by what chairman and CEO David Li Kwok-po said were “malicious rumours first disseminated via electronic devices late in the afternoon on 23 September.”
 

July 28, 2008

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders.

Walter Kwok, who was replaced by his mother following a disagreement with his two younger brothers in May, said, "Rather than key positions in the company being taken by the family, we should be more inclined to have the most suitable person fulfil the key positions."

May 28, 2008

The ongoing feud between the Kwok family at Hong Kong’s biggest property developer, Sun Hung Kai Properties, has come to a head with Walter Kwok’s 79-year-old mother, Kwong Siu-hing, replacing him as chairman of the company.

The ongoing feud between the Kwok family at Hong Kong’s biggest property developer, Sun Hung Kai Properties, has come to a head with Walter Kwok’s 79-year-old mother, Kwong Siu-hing, replacing him as chairman of the company. Kwong is the wife of SHKP’s late founder and currently owns just over 41% of the company.

May 27, 2008

Yeung Kwok-Keung, chairman of property firm Country Garden and patriach of one of China’s richest families, has reportedly bought a stake in Television Broadcasts, one of the world’s largest producers of Chinese-language television programming.

Yeung Kwok-Keung, chairman of property firm Country Garden and patriach of one of China's richest families, has reportedly bought a stake in Television Broadcasts, one of the world's largest producers of Chinese-language television programming. Yeung (pictured) appears to have acquired a 26% stake for around $1.3 billion from Shaw Brothers' 100-year-old chairman Sir Run Run Shaw .

Founded in 1967, TVB was the first wireless free-to-air commercial television broadcaster in Hong Kong. It is believed Yeung was the only investor who met Shaw's criteria and price for the stake.

May 16, 2008

A behind-the-scenes feud between second-generation members of the Kwok family has burst into the open.

A behind-the-scenes feud between second-generation members of the Kwok family has burst into the open. The Hong Kong-based Kwoks, owners of Sun Hung Kai Properties, have been arguing over who should run the $45 billion company. At the centre of the dispute is a fierce power struggle between the three Kwok brothers – Walter, Thomas and Raymond.

April 30, 2008

Family business patriarch and Hong Kong’s richest man, Li Ka-shing, has called on Asians to change the way they view inheritance issues.

Family business patriarch and Hong Kong's richest man, Li Ka-shing, has called on Asians to change the way they view inheritance issues. He is encouraging other regional family heads to transcend the traditional values of passing wealth through lineage as an imperative duty in favour of more charitable and socially-aware philanthropic efforts.

April 10, 2008

Startup budget airline Oasis Hong Kong, the business launched by Hong Kong family business owner Raymond Lee and his wife, has folded.

Startup budget airline Oasis Hong Kong, the business launched by Hong Kong family business owner Raymond Lee (pictured) and his wife, has folded. The firm has announced it has applied to the Hong Kong Court to appoint a provisional liquidator. KPMG has since assumed control of the airline.

Flight operations have been cancelled until further notice and KPMG are liaising with other airlines in order to help customers make alternative travel arrangements.

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