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Full Version: Billionaire tycoon Li Ka-shing retires, hands control of empire to son Victor
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Billionaire tycoon Li Ka-shing retires, hands control of empire to son Victor

By Eric Ng & Sandy Li
PUBLISHED : Friday, 16 March, 2018, 4:41pm
UPDATED : Friday, 16 March, 2018, 6:11pm

Li Ka-shing, whose life journey from humble beginnings to Asia’s biggest business fortunes became the epitome of entrepreneurship that inspired generations of Hongkongers, has announced his retirement after almost seven decades at the pinnacle of one of the world’s largest corporate conglomerates.

“I have decided to step down as chairman of the company and retire from the position of executive director at the forthcoming annual general meeting of the company,” Li said in filings for CK Hutchison Holdings and CK Asset Holdings to the Hong Kong stock exchange on Friday.

He will serve as senior adviser of both companies.

“I am grateful to have been able to create value for shareholders all these years, and serve society,” Li said. “This has been my greatest honour. I thank everybody for their love and support.”

Li will dedicate his time and effort toward philanthropy, led by the KS-LK Foundation, especially on issues related to medical health, and social issues, he said.

More details in
CKH HOLDINGS (00001.HK) +0.300 (+0.304%) Short selling $57.10M; Ratio 6.284% chairman Li Ka-shing announced retirement. He said at the press conference that if shareholders invest in the group's stock with dividend earned each time since listing in 1972, their return can reach 5,000 times.
(Quote is delayed for at least 15 mins.Short Selling Data as at 2018-03-16 16:25.)

Quoted on aastocks website.

But the Hang Seng Index also fell from 1,800 in early 1973 to close to 300 in 1974.
The Annual report for CKI ( 1038.HK) makes an interesting statement in the Chairman's letter :

Claims 21 years of continued dividend growth ( a 6 fold increase during the past 20 years. ) .

1997 - $0.32 per share
2007 - $1.10 per share
2017 - $2.38 per share.