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Cheung Kong Holdings
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, 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.
The Cheung Kong Group develops residential, office, retail, industrial and hotel properties in Hong Kong, with a history of property development and residential estates. As part of a reorganisation, a new company composed of the group's property assets was spun-off in June 2015 as Cheung Kong Property Holdings.
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.
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.
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.
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. 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.
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Cheung Kong Holdings
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, 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.
The Cheung Kong Group develops residential, office, retail, industrial and hotel properties in Hong Kong, with a history of property development and residential estates. As part of a reorganisation, a new company composed of the group's property assets was spun-off in June 2015 as Cheung Kong Property Holdings.
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.
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.
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.
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. 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.