This article contains promotional content .(March 2023) |
Company type | Private |
---|---|
Industry | Conglomerate |
Founded | 1972 |
Headquarters | Cheung Kong Center, Hong Kong Island, Hong Kong |
Key people |
|
Products | Real estate, Investment, life sciences, IT, Hotels, telecommunications; & internet |
Revenue | HK$32.863 billion (US$4.2 billion) (2010) |
HK$26.478 billion (US$3.4 billion) (2010) | |
Number of employees | 9,500 (2010) |
Parent | CK Hutchison Holdings Limited |
Footnotes /references Associates: Hutchison Whampoa Cheung Kong Infrastructure Holdings Limited Hutchison Asia Telecommunications and TOM Group |
Cheung Kong Holdings | |||||||
---|---|---|---|---|---|---|---|
Traditional Chinese | 長江實業 (集團) 有限公司 | ||||||
Simplified Chinese | 长江实业 (集团) 有限公司 | ||||||
|
Cheung Kong (Holdings) Limited,is a multinational conglomerate,based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015,as part of a major reorganisation, [1] to become part of CK Hutchison Holdings.
The Chairman of Cheung Kong Holdings was Li Ka-shing,while his elder son,Victor Li,was managing director and deputy chairman. Li Ka-shing founded Cheung Kong Industries in the 1950s as a plastics manufacturer. Eventually the company evolved into a property investment company. Cheung Kong (Holdings) Limited was established in 1971. [2]
The Cheung Kong Group are developers of residential,office,retail,industrial and hotel properties in Hong Kong. With its history of property development and residential estates,as part of the reorganisation of the group a new company composed of the group's property assets was spun-off in June 2015 as Cheung Kong Property Holdings. [3]
The market capitalisation of the Cheung Kong Group's Hong Kong-listed companies amounted to HK$1,148 billion on 31 January 2015. The group operates in over 50 countries and employs over 240,000 staff worldwide. [4]
The group had nine companies:
The company was first listed on the Hong Kong Stock Exchange in 1972 as Cheung Kong Holdings,and developed into a property development and strategic investment company,with interests in life sciences and other businesses. [5]
The company and Sun Hung Kai Properties together became increasingly dominant in the development of new private homes,accounting for 70% of the market in 2010,up from around half of that in 2003. This concentration,with much of the rest of the market occupied by other very large firms,is attributed to the government's policy of auctioning land in expensive large blocks,squeezing out small and mid-sized firms,according to the Consumer Council. [6]
In January 2015,Li Ka-shing confirmed the business would be restructured and its property business spun-off as a separately listed company,Cheung Kong Property. [7] Under the plans,Cheung Kong Holdings purchased the shares in Hutchison Whampoa that it did not already own,and merged the companies under a new single holding company,CK Hutchison Holdings. The new holding company was established on 18 March 2015,based in the Cayman Islands,but listed in Hong Kong. [8]
Hutchison Whampoa was delisted on 3 June 2015,on the same day that a new company comprising the group's existing property assets,Cheung Kong Property Holdings,began trading. [9] [10]
The company operates mobile telephone services under the 3 brand in 10 countries,inherited from Hutchison Whampoa.[ citation needed ]
CK Hutchison's telecommunications subsidiaries in Hong Kong and Australia are listed companies;the company holds 66.09% and 87.87% stakes in these respectively.[ citation needed ]
The chairman of Cheung Kong Infrastructure Holdings Limited (CKI) is Victor Li Tzar-kuoi. CKI is the largest diversified infrastructure company listed on the Hong Kong Stock Exchange. It is a Hong Kong-based diversified infrastructure company,focused on the development,investment and operation of infrastructure businesses in countries such as China,Australia,and the United Kingdom. [11]
CK Hutchison holds a 75.67% stake in the company. [12]
The chairman of Power Assets Holdings Limited is Canning Fok Kin-ning. The listed Hongkong Electric group of companies are [13]
The Hongkong Electric Company Limited mainly concentrates on the generation and supply of electricity on Hong Kong Island and Lamma Island. Hongkong Electric International Limited pursues overseas investment opportunities and Associated Technical Services Limited's principal activity is engineering consultancy and project management.[ citation needed ]
CK Hutchison holds a 38.87% stake in the company.[ citation needed ]
CK Life Sciences is engaged in the business of research and development,commercialisation,marketing and sale of biotechnology products. Products developed by CK Life Sciences are categorised into two areas,human health and environmental sustainability.
CK Hutchison holds a 45.32% stake in the company. [14]
Apart from the core business of property development,CK Hutchison's ventures include TOM Group Limited. [15] iMarkets Ltd,iBusiness Corporation Limited,CK Communications Ltd,Excel Technology International Holdings Ltd,mReferral Corporation (HK) Ltd and Beijing Net-Infinity Technology Development Co.,Ltd.[ citation needed ]
Hutchison Whampoa's 34% stake in the Canadian energy company Husky Energy passed to CK Hutchison on completion of the merger. [16]
Sir Ka-shing Li is a Hong Kong billionaire business magnate,investor,and philanthropist. He is the senior advisor for CK Hutchison Holdings and CK Asset Holdings,after he retired from the Chairman of the Board in May 2018;through it,he is an investor,developer,and operator of the largest health and beauty retailer in Asia and Europe. In July 2023 Li was the 33rd richest person in the world,with an estimated net wealth of US$37.7 billion. In the March 2024 Forbes list of The Richest People In The World Li Ka-shing was ranked 38th with a net worth of $37.3 billion.
Hutchison Whampoa Limited (HWL) was an investment holding company based in Hong Kong. It was a Fortune Global 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL was an international corporation with a diverse array of holdings which included the world's biggest port,and telecommunication operations in 14 countries that were run under the 3 brand. Its businesses also included retail,property development,and infrastructure.
Victor Li Tzar-kuoi is a Hong Kong businessman,the chair of the board and group co-managing director of CK Hutchison Holdings Limited and the chairman of the board and managing director of CK Asset Holdings Limited and the Chairman of CK Infrastructure Holdings Limited. He is the elder son of tycoon Li Ka-shing and the brother of Richard Li.
Simon Murray,CBE is a British Hong Kong–based businessman,adventurer and author.
Power Assets Holdings Limited,formerly Hongkong Electric Holdings Limited,is a vertically integrated electric utility company. It is the majority shareholder in the Hongkong Electric Company,having reduced its holding in the company through a series of share sales,the most recent being in June 2015.
SA Power Networks is the principal electricity distributor in the state of South Australia,delivering electricity from high voltage transmission network connection points operated by ElectraNet. It is the successor to the Electricity Trust of South Australia.
South Horizons is a private housing estate located in Aberdeen at the western end of Ap Lei Chau,in the Southern District of Hong Kong. Developed by Secan Limited,a Hutchison Whampoa associate company,it consists of 34 blocks,ranging in height from 25 to 42 storeys,completed between 1993 and 1995. Census data indicated that South Horizons had a population of 31,496 in 2011 and was the most populated among the private and public estates of the district.
CK Infrastructure Holdings Limited (CKI) is the largest publicly listed infrastructure company in Hong Kong with diversified investments in energy infrastructure,transportation Infrastructure,water Infrastructure and infrastructure related business,parented by CK Hutchison Holdings,businessman Li Ka Shing's flagship company. It is a leading player in the global infrastructure arena in Hong Kong,Mainland China,Australia,New Zealand,the United Kingdom,Continental Europe and North America. The chairman is Victor Li,the elder son of Li Ka Shing.
Shoucheng Holdings Limited is the subsidiary of Beijing-based state-owned Shougang Group engaging in seven businesses:steel manufacturing,steel trading,shipping segment,electric generation,property investment and management and other corporate businesses.
Canning Fok Kin-ning is a Hong Kong business executive. He is a director or chair of numerous management board in companies of Cheung Kong Holdings and Hutchison Whampoa. He is hailed as the "King of Employees" since he has been one of the Hong Kong's top-five taxpayers in the past few years.
CK Life Sciences International (Holdings) Inc.,or CK Life Sciences,is a subsidiary of CK Hutchison Holdings. It is engaged in research and development,commercialization,marketing and sale of biotechnology products. The chairman is Mr. Victor Li,the elder son of Mr. Li Ka-shing,the chairman of Cheung Kong Holdings.
The Hongkong Electric Company is one of Hong Kong's two main electricity generation companies,the other being China Light &Power. The company is owned by several companies including Power Assets Holdings,State Grid Corporation of China,Cheung Kong Infrastructure Holdings and Qatar Investment Authority. It was the first company to provide electricity in Hong Kong,having run continually since the 19th century.
AS Watson Group is the world's largest international health and beauty retailer by number of stores,with over 16,500 stores in 28 markets,primarily in Asia and Europe.
CK Asset Holdings Limited,formerly Cheung Kong Property Holdings Limited,is a property developer registered in the Cayman Islands,with its headquarters and principal place of business in Hong Kong.
CK Hutchison Holdings Limited is a Hong Kong–based and Cayman Islands–registered multinational conglomerate corporation. The company was formed in March 2015 through the merger of Cheung Kong Holdings and its main associate company Hutchison Whampoa. It has four core businesses –ports and related services,retail,infrastructure and telecommunications –which operate in over 50 countries,as well as several other investments around the world.
Sir David Kennedy Newbigging,OBE,DL is a British businessman and Hong Kong politician born in China. He was the Tai-pan of Jardine Matheson &Co,the leading British trading firm in East Asia and unofficial member of the Executive Council and the Legislative Council of Hong Kong.
John Louis Marden,CBE,JP was a British businessman and philanthropist. He was the chairman of Wheelock Marden.
HGC Global Communications Limited,formerly known as Hutchison Global Communications Limited,is an internet service provider of Hong Kong. In the past it was part of Hutchison Telecommunications,itself part of a mega-conglomerate CK Hutchison Holdings. Hutchison Global Communications was a listed company,via its parent company Hutchison Global Communications Holdings from 2004 to 2005.
Park'N Fly Airport Parking, also known as Park'N Fly,is a Canadian airport parking operator based in Mississauga,Ontario. It is the largest and only national operator for off-airport car parks in Canada. Park'N Fly is currently owned by CK Hutchison Holdings,a conglomerate in Hong Kong.
The Li Ka-shing Family refers to a wealthy family based in Hong Kong but with business interests worldwide. The family empire was started by Li Ka-shing,a wealthy Hong Kong entrepreneur who has long been Hong Kong's wealthiest individual and one of the wealthiest in the world. While Li Ka-shing and his family are best known for CK Hutchison Holdings and CK Asset Holdings,they are also associated with a number of other businesses outside of CK including Pacific Century Group.