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CN Reportedly Holds off New Co-op Between SOEs and Li Ka-shing-Related Firms
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China has requested state-owned enterprises (SOEs) to hold off new cooperation with companies linked to Li Ka-shing, including prospective and under-review projects, in an effort to mount pressure on CKH HOLDINGS (00001.HK) over its planned sale of Panama port assets, Bloomberg reported, citing people with the knowledge of the matter. However, ongoing projects remain unaffected. China is also reportedly reviewing all existing and proposed investments related to the Li Ka-shing family’s businesses both domestically and internationally, aiming to gain a better understanding of their commercial dealings. CKH Series had previously considerably offloaded its asset exposure in Greater China, with only 12% of CKH’s revenue now derived from Hong Kong and mainland China. However, CK ASSET (01113.HK) maintains substantial real estate operations in the mainland, while Richard Li’s Pacific Century Group has various businesses there, including the insurance company FWD. AAStocks Financial News |
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