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Power Assets bid plan denied

Business | Stella Zhai May 16, 2019
CK Infrastructure (1038) chairman Victor Li Tzar-kuoi said the firm does not have any intention to acquire Power Assets Holdings (0006).

Li responded to a shareholder at the annual general meeting that there would be more mergers and acquisitions for the company in the future, with larger scales.

When asked whether CK Asset (1113) was considering selling its Upper West Shanghai project and may cash in almost 12 billion yuan (HK$13.7 billion), the developer confirmed it received an offer for the project, but that it does not mean it would sell it.

CK Hutchison (0001) slid 0.44 percent to HK$78.45 yesterday after a short seller said it concealed HK$57.7 billion of debt. CKH responded later that the report was misleading as it failed to mention that non-cash losses and debts brought by acquisitions were also reported in the relevant periods.



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