Cheng Yu-Tung

This is the eighth richest person in Asia with a net worth of $16 billion in March 2012. He engages in the real estate business and owns Chow Tai Fook Enterprises which is a multinational company to control the New World Group. However, the main resource for his wealth was originated from jewelry business. The Hong Kong billionaire has extensive business dealings and real estate interests in both Hong Kong and Macau. He owns Chow Tai Fook Enterprises, a conglomerate which operates the Sheraton Marina hotel and controls the publicly listed New World group. He also has interests in Shun Tak Holdings, and the Sociedade de Turismo e Diversoes de Macau, owned by Stanley Ho. As of October 2012, The Bloomberg Billionaires List ranks him as the 34th richest person in with world with an estimated net worth of US 19.3 billion.

Asian tycoons shut out private equity firms

What do Facebook, Spotify, BitPay, Summly and Siri have in common? They all got early stage private-equity backing from Asia’s richest man, Hong Kong’s Li Ka-shing. The octogenarian multi-billionaire made his money from some of the oldest and simplest businesses going: property and ports – where people live, work and trade, the basics of any economy.

Source: www.ft.com | Date: 13th January 2014 Read more

CKI records reveal it pays little tax in Hong Kong

Hong Kong tycoon Li Ka-shing is facing claims in Britain and Australia that companies he controls are dodging taxes there, but an analysis of his Hong Kong-listed Cheung Kong Infrastructure reveals it pays only a tiny fraction of the tax that a close competitor here pays.

Source: www.scmp.com | Date: 2nd January 2014 Read more