Cheung Kong Limited, was 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 3June 2015, as part of a major reorganisation, to become part of CK Hutchison Holdings. The Chairman of Cheung Kong Holdings is Li Ka Shing, while his elder son, Victor Li, is Managing Director and Deputy Chairman. Li Ka Shing founded Cheung Kong Industries in 1950s as a plastics manufacturer. Under his leadership, the company grew rapidly and eventually evolved into a property investment company. "Cheung Kong Limited" was established in 1971. The Cheung Kong Group was one of the largest developers of residential, office, retail, industrial and hotel properties in Hong Kong. With its long history of property development expertise and residential estates, Cheung Kong Holdings has built many of Hong Kong's most notable landmark buildings and complexes. 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.
Component companies
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 operated 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 substantial interests in life sciences and other businesses. Cheung Kong Group became one of the largest developers in Hong Kong with a long history of property development. About one in twelve of the private residences in Hong Kong were developed by the company. 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 expensively large blocks, squeezing out small and mid-sized firms, according to the Consumer Council. Its board of directors includes Wong Yuchin, Victor Li Tzar-kuoi, elder son of Li Ka-shing, Canning Fok, Simon Murray, and is chaired by Li senior.
Restructuring
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 will purchase the shares in Hutchison Whampoa that it does not already own, and merge 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. 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.
Shareholdings
Telecommunications
The company operates mobile telephone services under the 3 brand in 10 countries, inherited from Hutchison Whampoa. 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.
The Chairman of Cheung Kong Infrastructure Holdings Limited 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 many countries such as China, Australia, and the United Kingdom. CK Hutchison holds a 75.67% stake in the company.
The Hongkong Electric Company Limited mainly concentrates on 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. CK Hutchison holds a 38.87% stake in the company.
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:
Apart from the core business of property development, CK Hutchison' ventures include TOM Group Limited. iMarkets Ltd, iBusiness Corporation Limited, CK Communications Ltd, Excel Technology International Holdings Ltd, mReferral Corporation Ltd and Beijing Net-Infinity Technology Development Co., Ltd. Hutchison Whampoa's ownership of a 40.2% stake in the Canadian energy company Husky Energy passed to CK Hutchison on completion of the merger.
