Who is the richest man in Asia? urgent! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
Asia’s richest man---Li Ka-shing
Born in Chaozhou, Guangdong in 1928, his father was a primary school principal. In 1940, the family fled to Hong Kong to escape the oppression of the Japanese invaders. Two years later, his father died of illness. In order to support his mother and three younger siblings, Li Ka-shing was forced to drop out of school and enter the society to make a living.
In the beginning, Li Ka-shing worked as a salesman for a toy manufacturing company. Although he was busy at work, Li Ka-shing, who was out of school, still used his spare time to go to night school for further studies and cultural remediation. Due to his diligence, studiousness, and ability, he was promoted to the general manager of a plastic toy factory before he was 20 years old. Two years later, Li Ka-shing seized the opportunity and used the US$7,000 he saved from frugality to start his own plastic factory. He named it "Yangtze River Plastic Factory".
In 1958, Li Ka-shing began investing in the real estate market. His unique vision and shrewd development strategies made "Changjiang" quickly become a major real estate development and investment industrial company in Hong Kong. When Cheung Kong Holdings went public in 1972, its shares were oversubscribed 65 times. By the late 1970s, he stood out among his generation of tycoons.
In 1979, "Changjiang" purchased the old British-funded commercial bank - "Hutchison Whampoa", making Li Ka-shing the first Chinese to acquire a British-funded commercial bank. In 1984, "Changjiang" purchased the controlling equity of "Hong Kong Electric Lighting Company". Mr. Li Ka-shing is currently the Chairman and General Manager of Cheung Kong Holdings Limited and the Chairman of the Board of Directors of Hutchison Whampoa Limited. The enterprises under his management had profits after tax of US$2.8 billion in 1994. In December 1995, the total market value of the three listed companies of the Yangtze River Industrial Group exceeded US$42 billion.
Li Ka-shing will open a business school in Beijing with a tuition fee of 240,000 yuan a year
The "Li Ka-shing Foundation" of Hong Kong tycoon Li Ka-shing will open a business school in Beijing's prime Wangfujing Street, which may be the first in Asia The most expensive business school, with annual tuition estimated at 240,000 yuan, officially opened in September this year.
The higher education institution called Cheung Kong Graduate School of Business is divided into two parts. In September this year, it will recruit the first batch of 150 students for the Executive Master of Business Administration (EMBA) program to start in Beijing; Another Master of Business Administration (MBA) program will enroll students in March next year and will be held in Shenzhen. A spokesman for the "Li Ka Shing Foundation" said yesterday that details of the founding of the school will be announced later. He said that over the years, Li Ka-shing has donated to countless different educational groups and medical projects in the mainland. He believes that no one would think that these donations are for profit.
Cheung Kong Graduate School of Business is the first privately-run MBA program in mainland China. Xiang Bing, the first dean of the college and former director of the EMBA Training Center of Guanghua School of Management at Peking University, said that the college is a personal donation , so it is not restricted by the proportion of foreign capital holdings and the terms of not being able to earn profits. As for whether academic qualifications are recognized in the mainland, Xiang Bing said that business administration courses focus on standard and strength, and there is no need to dwell on the issue of whether the degree is recognized.
Li Ka-shing's assets increased by another 10% and he remains the richest man in Asia
This year, Li Ka-shing, chairman of Hong Kong's Cheung Kong Holdings Ltd., defeated Masayoshi Son, president of Japan's Software Bank, to regain the top spot as the richest man in Asia. Total assets reached US$12.6 billion, an increase of US$1.3 billion from last year. It ranked 18th in the world, rising three places from last year.
Li Ka-shing was born in Chaozhou, Guangdong in 1928. When I was 11 years old, my hometown was invaded by the Japanese. My father had no choice but to leave his hometown and live in Hong Kong. Li Ka-shing only studied in Hong Kong for two years before his father died of illness and the family was in trouble. In order to support his mother, two younger brothers and a younger sister, at the age of 13, he resolutely shouldered the burden of being the head of the family, dropped out of school to find a job, and entered a diverse society. .
At the beginning, Li Ka-shing was a toy? Become a salesman for a company. Although he was busy at work, Li Ka-shing, who was out of school, still used his spare time to go to night school to study and learn about culture. Because he is diligent, studious and smart? , less than 20 years old, he was promoted to the general manager of a plastic toy factory. Two years later, Li Ka-shing seized the opportunity and used the US$7,000 he saved from frugality to start his own plastic factory. He named it "Yangtze River Plastic Factory". Speaking of the hardships when starting a business, Li Ka-shing was filled with emotion and passion: "Back then, the Yangtze River Plastic Factory only produced some ordinary plastic toys and household items, which were sold to Europe and the United States through export companies."
In the first 10 years, I had to work 7 days a week, at least 16 hours a day, and I also had to do self-study at night. In addition, the factory was short of manpower, so I had to do a lot of work such as buying goods and taking orders. I often didn't get enough sleep, and I had to use it in the morning. It takes two alarm clocks to wake up, which can be said to be the saddest moment every day.
Six of Hong Kong’s “Top Ten Working Emperors” work for Li Ka-shing
Hong Kong’s “Top Ten Working Emperors” The total annual salary in 2000 was as high as HK$460 million (the same below), and the average annual salary was more than HK$20 million. Among them, Hong Kong's richest man Li Ka-shing accounts for six of his subordinates, and Huo Jianning and Yuan Tianfan, who are ranked first and second, have incomes of more than 100 million yuan. They can still enjoy wealth despite the economic downturn, and they are worthy of being the working emperors.
The heads of Li Ka-shing's companies included in the list of working emperors include the executive director of Hutchison Whampoa, the vice chairman of Cheung Kong Holdings, the chairman of Hong Kong Electric and the vice chairman of Cheung Kong Infrastructure, Michael Malice; the deputy managing director of Cheung Kong Holdings, Kam Hing Lam, Executive Director of Hutchison Whampoa, Managing Director of Cheung Kong Infrastructure, and Director of Hong Kong Electric; Zhou Hu Mufang, Deputy Managing Director of Hutchison Whampoa, Director of Hong Kong Electric, and Executive Director of Cheung Kong Infrastructure, and Finance Director of Hutchison Whampoa, Executive Director of Cheung Kong Infrastructure, Hong Kong Lu Flanlan, executive director of Electric Light, non-executive director of Cheung Kong, and chairman of Tom.com.
The other four working emperors are He Liqin, who suddenly resigned from his position as managing director of mobile phone company Sunday in mid-December last year, with an annual income of 29 million yuan; First Pacific Executive Chairman Pang Zelun, whose business is mainly in Indonesia and the Philippines. , with an annual salary of 24 million yuan; Lin Gaoyan, vice chairman of Henderson Land, vice chairman of Henderson Development, executive director of Henderson China, and non-executive director of Towngas, has an annual salary of 22.5 million yuan; John Pang, chairman of HSBC Holdings, has an annual salary of 18.03 million.
Fok Jianning, who topped the list of working emperors, concurrently serves as the managing director of Hutchison Whampoa, the vice chairman of Hong Kong Electric, the vice chairman of Cheung Kong Infrastructure, and the executive director of Cheung Kong Holdings, with a total income of HK$135 million.
In 1999, Hutchison Whampoa's "Orange" business made hundreds of billions of dollars, and managing director Fok Jianning received a remuneration of 210 million yuan during the period, and no one objected. When the telecom stock bubble burst in 2000, Huo Jianning successfully dealt with the aftermath and received another director's remuneration of NT$120 million. He continued to be the first working emperor in Hong Kong, and his skills as a tycoon were even more evident.
After Hutchison Whampoa made 118 billion yuan from the sale of telecommunications business Orange in 1999, it earned another 50 billion yuan from the sale of Mannesmann in 2000. In the same year, it earned another 30 billion yuan from the sale of Voicestream, and then won the UK's No. 1 position with 50 billion yuan. The third-generation mobile phone (3G) license triggered a craze among Global Communications companies to compete for the third-generation mobile phone (3G) license. In the German third-generation mobile phone (3G) license bidding, Hutchison Whampoa resolutely withdrew, crushing the bubble with one hand.
Hutchison Whampoa was accused of being a "big trader"
In a series of magical transactions, Hutchison Whampoa made nearly NT$200 billion in profits, but foreign media accused it of being a big trader. ). Huo Jianning strongly denied: "We buy assets, send people to do it, and sell them when the capital value matures. According to tax laws, this is the realization of capital assets, not trading."
Although his reputation as a billionaire working emperor was temporarily preserved in 2000, the global economy deteriorated in 2001. Whether Huo Jianning will receive a salary cut will be announced in Hutchison Whampoa's annual report next year. However, Hutchison Whampoa acquired "distressed partners" Priceline and Whampoa twice during the period. Global Telecommunications has expanded its business to the promising real estate market in Beijing, and Huo Daban's performance is still brave.
Although PCCW is a nightmare for thousands of shareholders, for the management, it is a dream factory to realize many years of ambition. The runner-up, PCCW Vice Chairman Yuan Tianfan, has an annual income of NT$100 million. On the day after PCCW and Hong Kong Telecom officially merged, he sold 8 million PCCW shares at a price of about NT$14 per share, making a profit of more than NT$100 million. Less than a month later, Yuan Tianfan purchased the former Belgian consul's official residence for approximately 180 million yuan.
However, when Yuan Tianfan was realizing his personal dream, PCCW's market value had evaporated by more than 400 billion yuan compared with its peak, and the management was under pressure.
Yingke Development recently announced that director Yuan Tianfan will also reduce his shareholding from 0.9% to 0.83% and cash out 5 million yuan. This makes people speculate that his status has changed?
McLeese is one of Li Ka-shing’s right-hand men. As the vice chairman of Cheung Kong, he is mainly responsible for the management and real estate management of the group. He rarely appears in public and earns NT$78.5 million annually.
With an annual income of 38 million yuan, 54-year-old Gan Qinglin is Li Zekai's uncle. Last year, his director's remuneration at Cheung Kong increased by about 30% from 13.5 million yuan the year before. This may be because he serves as president. The development ideal of Yangtze Life Science and Technology.
Chow Hu Mufong comes from a legal family. His father, Wu Siu-chi, was the legal adviser in the early days of Sun Hung Kai Properties, and his elder brother, Wu Baoxing, was the founder of Wu Guan, Li Luo's law firm. After obtaining the qualification to practice law, she worked at Hu, Kwan, Lee & Lo Law Firm until joining Hutchison Whampoa Development in 1984, with an annual income of NT$35 million. She is one of the major contributors behind the successful completion of many complex Hutchison transactions.
Flan Lu has an annual income of 22 million yuan. He is responsible for transforming Tom.com from a virtual network business into a real media kingdom across the Taiwan Strait and three places. It is Lu Falan who assists CEO Wang Xianxian behind the scenes.
Li Ka-shing frequently invests tens of billions in Cheung Kong Holdings to attack the mainland
Last year’s performance fell by 60%
Although the Hong Kong listed company Cheung Kong Holdings (Group) Co., Ltd. controlled by Li Ka-shing The company and its associated company Hutchison Whampoa Co., Ltd. were named the first and second runner-up in the "2001 International Chinese Business 500" by Asia Weekly. However, affected by the global economic downturn and the economic and financial crisis in Hong Kong, the performance in 2001 was greatly affected, among which Cheung Kong's net profit was HK$7.291 billion, and Hutchison Whampoa's net profit was HK$12.088 billion, down more than 60% from the same period last year. Faced with the impact of the deteriorating external economic environment, at the annual report conference, Li Ka-shing promised to use the group's abundant cash flow and stable borrowing level to establish solid financial strength and obtain an extremely high long-term credit rating. It is conducive to raising funds, grasping investment opportunities at any time, and striving for maximum benefits for shareholders.
The CK Hutchison Group has operations in 36 countries around the world. Its main businesses are real estate and telecommunications, the two pillar industries of the CK Hutchison Group. Global economic integration has brought economies of scale to the CK Hutchison Group, but it has also exposed companies to economic storms. Cheung Kong Group, which is mainly engaged in real estate, had revenue from properties last year of HK$1.896 billion, down 16.3% from the same period last year. Hutchison Whampoa, which is mainly engaged in telecommunications business, had a turnover of HK$61.46 billion last year. , but due to the investment in 3G business last year, HK$31.2 billion was used as a reserve for related investments. Although Li Ka-shing has repeatedly emphasized on various occasions that Hong Kong's economy will recover, when exactly it will start to recover and what the prospects will be, Li Ka-shing also admitted in an internal discussion that it is still unclear and many challenging issues may arise at any time. On the one hand, Li Ka-shing continues to adopt his follow-up approach on bargain hunting, absorbing large amounts of land, building properties, and promoting profits; on the other hand, Li Ka-shing has shifted his focus to markets with good environments—Europe, the United States and the Mainland, especially the Mainland market. Li Ka-shing said that it is generally believed that the European and American economies can grow by three percentage points, while the mainland will have the largest growth rate of 7%. In terms of economic growth, no country can compare with China.
Li Ka-shing is optimistic about the rapid growth of China's economy in the past 20 years. China's entry into the WTO has strengthened Li Ka-shing's confidence. In a public occasion, Li Ka-shing made it clear that Cheung Kong Industries has invested a lot in mainland China over the years. , and there will be more business opportunities after China joins the WTO. Some business areas have not been covered in the past but may be covered in the future. The most important thing is to recognize the direction and seize the opportunity.
Ten billions will be invested in the mainland this year
If tom. com This small boat plays a high-tech concept card in the mainland, but today's "Cheung Hutchison Aircraft Carrier" plays a more stable Li Ka-shing concept card. Years of business experience in the Mainland have given Li Ka-shing a deeper understanding of the investment environment in the Mainland. Li Ka-shing, who is unwilling to get involved in politics, has used numerous charity activities to establish a high social image and outstanding social status, and has won loyal partners. At the same time, it also makes the company's government public relations more powerful. Under such favorable circumstances, the CK Hutchison Group is ready to make a big move. At the annual report announcement meeting held in March this year, Li Ka-shing made it clear that the investment amount of the CK Hutchison Group in the mainland this year will be 100%. billion Hong Kong dollars.
In terms of the real estate industry, in addition to the "CBD Back Garden" in Dongba, Chaoyang District, which was developed with an investment of 10 billion yuan in 2001, CK Hutchison spent another 390 million yuan to acquire the Gubei New District in Shanghai. Land use rights for Lot 14, Zone 1. It is reported that some development projects in Shenzhen and Chengdu are under negotiation.
In terms of port network construction, Li Ka-shing regards the mainland port business as the top priority for future investment. The Pearl River Delta is the base of Hutchison Whampoa’s mainland port business. port, and took a stake in Ningbo Beilun Port, etc., which obviously moved the front northward and formed a port network along China's coast. The recent plan to invest in Qingdao breaks the original purpose of its port investment strategy of "doing (ports) south of Shanghai and not doing anything north of Shanghai".
In the communications industry, PCCW announced a joint venture with China Telecom. The total investment in the joint venture is approximately RMB 200 million. The joint venture will initially focus on developing information technology solutions for the mainland financial industry. plans, but does not rule out entering other industries in the future.
In the media industry, tom. com currently owns a number of media businesses in Greater China, including magazines, radio stations, websites, advertising, etc. Following the successful acquisition of ATV shares in early July, Li Ka-shing's media empire has become even larger.
In terms of biotechnology, Li Ka-shing once stated when establishing Yangtze River Life Technologies that biochemical technology would be a new segment of the group’s key development in the future. Recently, Yangtze River Life Science and Technology was split from Yangtze River Enterprises and listed on the Hong Kong Growth Enterprise Market, which immediately set off a craze for biochemical stocks in the Hong Kong stock market. It is reported that Yangtze River Industrial has invested HK$4.2 billion in Changke, and Changke has registered patents. There are 40 projects. By the end of the year, the investment in this project will reach nearly 1 billion Hong Kong dollars, and it will increase to several billion or even 10 billion Hong Kong dollars in the next few years. Later, it will be used as a platform for acquisitions and investments by major mainland banks.
The CK Hutchison Group led by Li Ka-shing has strong capital and is planning calmly in the mainland, trying to occupy the commanding heights of many industries through acquisitions, joint ventures and other forms.
Targeting on traditional industries
Making forward-looking and strategic investments in emerging industries is one of Li Ka-shing’s best skills. He has entered the real estate industry, acquired Hutchison Whampoa, and entered port transportation. Business, participating in infrastructure projects... The Cheung Hutchison Group always gets the lead and achieves long-term development because it is one step ahead of others. Today, when the information industry in mainland China is booming, CK Hutchison's new attack on the mainland market seems particularly prudent. Generally speaking, the direction of expansion has never deviated from the basic business of traditional industries, and its goals are mainly focused on In five areas, real estate, communications, port networks, media and biotechnology, compared with global business expansion, energy is missing. It is reported that the main reason for this difference is that so far, mainland China has not opened up energy management operations to private enterprises.
To a certain extent, it is not that Li Ka-shing is conservative. An important reason is that as one of the protagonists, the CK Hutchison Group also suffered the disaster caused by the bursting of the global Internet bubble economy from 2000 to 2001. . The CK Hutchison Group began investing in the mainland many years ago, and its accumulated investment in the mainland has exceeded HK$60 billion. Among them, Cheung Kong Holdings has become one of Hong Kong's largest investors in the mainland. Although the huge investment has made Li Ka-shing famous in the mainland, behind the overall good feeling, it cannot be ignored that more than 15% to 20% of investment failed projects. This is such a high proportion for the CK Hutchison Department, which has always performed steadily. The investment failure rate is unique. The Cheung Ho Department attributed the failure to rash advancement. Early tom． com, PCCW and Cyberport once brought a mythical aura to the company and created legendary figures like Li Zekai, but they did not really bring actual business benefits to the group. After the craze, for the Cheung Hutchison Department led by Li Ka-shing, Tom. com and PCCW are left with only a beautiful shell. For this reason, Li Ka-shing has repeatedly emphasized within the company that in a radical era, the most important thing is to maintain clear judgment.
In the face of the recent boom in foreign investment in the mainland, CK Hutchison’s actions may seem conservative, but in fact they are very domineering. The investment industries selected either involve infrastructure construction in mainland China, such as real estate and ports; or involve important industries. industries such as communications, media and biosciences. Whether in terms of market impact or marketing revenue, stable and high market returns can be obtained.
Coveting the domestic securities market
As early as 2001, Li Ka-shing expressed his interest in raising funds in the mainland capital market when attending a meeting in Beijing.
Although the state has not yet issued a policy on the issue of foreign companies listing on the mainland securities market, companies like CK Hutchison have been waiting and working hard. As an international enterprise, CK Hutchison will inevitably be affected by the global economic recession, but if it can be listed domestically, it can at least slow down the impact of foreign markets on corporate operations. On the other hand, financing from the capital market can also enhance the economic integration of enterprises with the mainland.
At that meeting, Li Ka-shing also said that listing on the Chinese mainland stock market will not only benefit mainland investors, but also help attract more foreign investment to participate in China's economic development. The Changhe Department has been preparing and waiting for this. Li Ka-shing's recent announcement that the CK Hutchison Group will hold a large stake in Bank of China (Hong Kong) has aroused widespread concern in the society. Some analysts believe that Li Ka-shing hopes that the CK Hutchison Group can integrate more capital with the capital of enterprises with mainland companies as parent companies to facilitate listing on the mainland as soon as possible in the future. News from the CK Hutchison Group said that it is not ruled out that the subsidiary will be listed on the mainland through backdoor in the future. Reporter Lu Yinan
Li Ka-shing frequently takes action
China’s accession to the WTO has brought new opportunities to industrialists at home and abroad. Li Ka-shing, who has long sleeves and is good at dancing, has once again struck out with his extremely keen sense of the ups and downs of the market. Recently, relying on his strong capital advantage, he has frequently made moves, attracting widespread attention in the industry.
After investing US$70 million in Qingdao tire manufacturing industry in May, on July 10, Hong Kong Cheung Kong Holdings (Group) Co., Ltd. and Hutchison Whampoa Co., Ltd. (hereinafter referred to as "Changjiang") Li Ka-shing, chairman of the Bank of China (Hong Kong) Group, said at the special general meeting of shareholders that the two companies will hold a larger share of Bank of China (Hong Kong) through the public offering of Bank of China (Hong Kong). Immediately afterwards, on July 12, PCCW announced that it would form a joint venture with China Telecom to provide information technology enterprise solutions for the mainland financial industry. It is reported that the total investment in the joint venture company is approximately 200 million yuan, and PCCW has obtained the management rights of the company and can include the joint venture company's income in PCCW's accounts. China Telecom will hold 51.5% of the joint venture's equity, while PCCW will hold 48.5%. In the second half of this year, similar news about the Changhe Department will continue to spread.
This series of investments by the CK Hutchison Group covers an unprecedented range of areas, geographical areas, and time periods, paving the way for Li Ka-shing’s long-planned hegemony in the mainland. A few days ago, reporters visited some employees of the CK Hutchison Group who are involved in business development in the Mainland, and learned some inside information about the CK Hutchison Group’s recent rapid “recruitment” in the Mainland.
The Eagle strikes again, Li Ka-shing seeks the best entry point into the market
Li Ka-shing will not be underestimated. Even if viewed from another perspective, his record is "stained". It’s just that few people remember it. In the 1980s, he invested in a Canadian oil company, but its performance had not improved over the years. And his first investment project in the UK, Rabbit Company, ended in failure.
Is Li Ka-shing really a superman in the investment world as Asia says?
In fact, most Asian business tycoons, no matter how powerful they are in their own countries, they cannot escape one fate: they are just a continuation of the family business. But Li Ka-shing is an exception. It’s not that he controls Hong Kong’s economy—operates the world’s largest port; has a monopoly on transmission lines to mainland China; enjoys a reputation as a top real estate developer and retailer; and owns the largest mobile phone operator title. Rather, it is because he is the only one who can be frequently perceived by the world in his field and even influence the future of this global industry.
There is one moment in the telecommunications industry that may be most telling. On August 9 this year, Hutchison Whampoa, one of Li Ka-shing's two holding companies, poached Global Telecom for US$250 million with a partnership in Singapore, Singapore Technology Telecommunications Media Company. It has recently made a fuss and is waiting for bankruptcy. American Optical Fiber Communications Company, 61.5% stake. Interestingly, the actions of this famous Asian investor have attracted many people to compare him with the American Warren Buffett. Could it be that the heroes think alike? Both of them want to make a fortune in the unfathomable telecommunications industry. Unfortunately, this kind of "bottom fishing" comes with risks.
A more significant impact may be implemented by Li Ka-shing this fall. Once Hutchison Whampoa begins to fully promote its 3G mobile phone services to the United Kingdom, Italy, Sweden, Australia, Israel, Austria and Hong Kong, China, the world will Be shocked. We must know that traditional European telecommunications companies have stopped moving forward in the face of a sluggish market environment, repeatedly delaying the issuance of 3G licenses; and investors have also begun to worry whether this technology will die before it is put into production; however, all this is happening In Li Ka-shing's view, it is not that bad, and it is still too early to say failure.
Li Ka-shing’s big gamble on 3G mobile phones has met with two completely opposite reactions. Most of the non-Asian fund managers in the market accuse Lee of making too big a bet, while they note that Hutchison Whampoa's shares are now almost half of their peak in early 2000. Standard & Poor's simply announced on August 8 that they were concerned about the prospects of Hutchison Whampoa and its sister company Cheung Kong Holdings.
Nevertheless, this will not affect the positive attitude of Asian small and medium-sized investors towards Li. In their minds, Li Ka-shing is infallible. If Li starts a company, they will flock to it even if he has not announced a performance plan or a list of shareholders. In the past July, Li Ka-shing's life science company went public, and its oversubscription ratio was 120 times. Obviously if Li Chaoren now "dreams" about the bright future of 3G, will anyone still express doubts?
Sensitive sense of smell
Li Ka-shing, who was born in the Year of the Dragon in 1928, came to Hong Kong from the mainland when he was 22 years old and started his first business, making and selling plastic flowers. After struggling to earn his first money, Li decisively turned to real estate development and has been out of control ever since. However, Li Ka-shing's tips for making a fortune are full of controversy, especially for Western investors. In addition to correctly foreseeing the Hong Kong government's policies on the property market, Li also grasped people's psychological orientation towards Feng Shui, thus successfully occupying Hong Kong. An important position in the real estate industry.
Luck may be the best explanation for Li Ka-shing’s success: doing the right thing at the right time. From the 1980s to the 1990s, whoever owned real assets in Hong Kong had a ticket to wealth, because the policy at the time was to restrict real estate development in new areas. Like many real estate developers, what Li has done is to continue to raise real estate prices. When he found that the container port business was more suitable, he followed Hong Kong's economic development by "carrying goods on his shoulders." By 1997, when many other Asian giants were "falling" as the currencies they held continued to depreciate, Lee was still "standing" because the Hong Kong dollar remained relatively strong.
However, luck is not everything to Li Ka-shing. Among Hong Kong's industrial tycoons, Li Ka-shing knows best when to go overseas and when to turn to new areas. No one is as good at identifying and hiring the best professional managers in the world as he is. At the same time, his investment record is unmatched by many other Asian industrial giants. And everyone who has interacted with him will give him a thumbs up for his keen investment sense.
Compared with Buffett, known as the "Sage of Omaha", although Li Ka-shing is also looking for value, his search for value goes further.
Buffett first crushes (reorganizes) the undervalued companies he finds and then holds the company's shares indefinitely.
Li Ka-shing is different. A typical Asian asset trader, what he does is to look for the best entry point into the market, like a falcon patiently waiting for the prey to appear. When the prey does appear, Sometimes, it will attack with lightning speed to capture it. This was the case with the acquisition of Global Crossing. Li Ka-shing did not even use his other telecommunications assets. He made the first offer in January 2002, then withdrew it, and then made a comeback and closed the deal at a new price that was 2/3 lower than the previous price.
The attack failed?
Although he wears the hat of "asset trader", and this hat also suits most Asian businessmen, it is still too small to wear on Li Ka-shing's head, because he does more than that. Indeed, one of his famous transactions won him a lot of praise: In September 1999, Hutchison Whampoa successfully sold Orange, a British mobile phone operator, at the right time, netting a net profit of US$14.7 billion. However, behind the success is that he knows how to build a business. In Orange's case, he spent several years integrating the company.
Perhaps this is why those who support Li are optimistic: Li Ka-shing will turn things around on 3G.
It seems that Li Ka-shing will not be underestimated. Even if his record is "stained" from another perspective, few people will remember it. In the 1980s, he invested in a Canadian oil company, but its performance had not improved over the years. And his first investment project in the UK, Rabbit Company, ended in failure.
In short, when evaluating Li Ka-shing, we should learn from the "harsh" tone used to evaluate "star" fund managers. "For whatever reason, they perform well for a while, then use their reputation to make bigger investments, until one day, like everyone else, they hit rock bottom."
So, let us wait and see what the fate of Li Ka-shing's 3G mobile phone business will be.