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January 16, 2015

Li Ka-shing restructures business empire, shares soar; Samsung crushes rumours of $7.5 billion Blackberry bid

Li Ka-shing restructures business empire, shares soar

Share prices at Hong Kong-based conglomerate Hutchinson Whampoa and property giant Cheung Kong Holdings rose dramatically on Monday following reports of a multi-billion dollar corporate restructure by owner Li Ka-Shing.

As a result, Cheung Kong's shares were up in Hong Kong as much as 14% in afternoon trading on Monday, while Hutchison Whampoa's shares surged more than 12%. 

December 23, 2014

One of the biggest property tycoons in Hong Kong has been sentenced to five years in prison after being found guilty of corruption.

One of the biggest property tycoons in Hong Kong has been sentenced to five years in prison after being found guilty of corruption.

Third-gen Thomas Kwok, former co-chairman of Sun Hung Kai Properties, was found guilty on 16 December by Hong Kong’s High Court of conspiring to pay HK$8.5 million (€891, 380) to former Chief Secretary Rafael Hui in exchange for information on land sales.

In the highly publicised graft case, Kwok, 63, was also fined HK$500,000 but cleared of two other charges. He is appealing his conviction.

September 29, 2014

Offshore wealth booked across borders reached new heights in 2014. See here the sites and sources of offshore wealth and where it sits in the scheme of global private wealth

Offshore wealth booked across borders reached new heights in 2014. See here the sites and sources of offshore wealth and where it sits in the scheme of global private wealth

December 6, 2013

The controlling shareholder of one of the largest real estate companies in Hong Kong, Sun Hung Kai Properties, has handed a significant chunk of shares to two of her three sons, even though they are awaiting trial for bribery of an official.

The controlling shareholder of one of the largest real estate companies in Hong Kong, Sun Hung Kai Properties, has handed a significant chunk of shares to two of her three sons, even though they are awaiting trial for bribery of an official.

October 24, 2013

Culture, education and the cost of living are all factors to take into consideration before emigration, but when it comes to tax incentives Switzerland is the top domicile – at least if you’re an entrepreneur.

Culture, education and the cost of living are all factors to take into consideration before emigration, but when it comes to tax incentives Switzerland is the top domicile – at least if you’re an entrepreneur.

According to the Global Opportunities report, released by BDO this week, the UK has the next most appealing tax regime, followed by Monaco.

The report said an entrepreneur should be looking primarily for tax benefits on dividends taken from their personal company, or capital gains realised on the sale of a company.

August 9, 2013

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation
American Greetings Corporation has returned to private ownership, following a $612 million (€458 million) buyout by the Weiss family – descendants of Jacob Sapirstein who founded the company in 1906.

April 30, 2013

The value of prime real estate in New York, London, Hong Kong and Singapore is set to rise by 27% in the next five years, due to the growing number of ultra-high net worth individuals globally, according to recent research.

The value of prime real estate in New York, London, Hong Kong and Singapore is set to rise by 27% in the next five years, due to the growing number of ultra-high net worth individuals globally, according to recent research.

The Global Prime Sector Report – published by property developers Candy & Candy, Deutsche Bank and estate agent Savills – found that by 2017 the UHNW population was expected to increased by 20%, with their collective wealth increasing by 30% as international markets recover.

December 3, 2012

Despite the huge growth of the very rich in the big emerging markets, family offices have been slow to take hold. Campden asks why.

Dotted about Hong Kong’s and Singapore’s financial services districts are a number of multi family offices – or at least individuals and groups of people calling themselves multi family offices.

March 27, 2012

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

In the UK, family-controlled Wates Group said on 26 March that revenues rose by 13% to £1.12 billion (€1.34 billion) in 2011.

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