Asia's richest man runs Hutchison Whampoa, a conglomerate whose interests include ports, retail, energy, infrastructure, properties and mobile networks. Through Cheung Kong Holdings, his publicly traded investment company, Li also oversees a real estate portfolio that includes residential and commercial properties, as well as hotels and industrial space.
Power Assets Holdings Ltd., controlled by Asia’s richest man, Li Ka-shing, said its Hong Kong electricity arm will have a market value of at least HK$48 billion ($6.2 billion) should a spinoff of the unit proceed.
Wal-Mart Stores Inc. named a former executive from Li Ka-shing’s company to head the operations in India, after the breakup of a six-year local partnership stalled its efforts to expand in the country.
JPMorgan Chase & Co., the biggest U.S. lender by assets, is forecasting a 30 percent surge in the value of mergers and acquisitions the bank expects to handle in Asia next year, a rebound from this year’s decline.
TDC A/S, Denmark’s biggest wireless carrier, joined Nordic rivals in calling for businesses to combine as falling prices in the region’s saturated market hurt earnings and hinder operators’ ability to invest.
Guangzhou R&F Properties Co., a landlord in the southern Chinese city’s business district, will pay 4.5 billion ringgit ($1.4 billion) for six sites in Malaysia from a royal family, marking its first acquisition abroad.