Li Ka-shing’s Son Among Asian Tycoons Seeking Bargain Deals

Cash-rich conglomerates like Li’s CK group are in a position to invest when others struggle as they are built to defend against the bad times, said Jonathan Galligan, group deputy head of research at CLSA Ltd. “This is a tremendous opportunity for any company with cash,” Galligan said. The junior Li...

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Bibliographic Details
Published inBloomberg Wire Service
Main Author Zhao, Shirley
Format Newsletter
LanguageEnglish
Published New York Bloomberg LP 09.04.2020
Subjects
Conglomerates
COVID-19
Executives
Investments
Short term debt
Singapore
Hong Kong
United Kingdom > UK
United States > US
Europe
Australia
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Summary:Cash-rich conglomerates like Li’s CK group are in a position to invest when others struggle as they are built to defend against the bad times, said Jonathan Galligan, group deputy head of research at CLSA Ltd. “This is a tremendous opportunity for any company with cash,” Galligan said. The junior Li, 55, now chairman of CK Hutchison Holdings Ltd., CK Asset Holdings Ltd. and CK Infrastructure Holdings Ltd., told analysts on March 19 that the group’s cash flow and balance sheet are strong and the impact of the virus offers “opportunities to look at new acquisitions.” Singapore’s biggest developer, CapitaLand Ltd., which bought Arlington Business Park in the U.K. in February, is seeking similar “counter cyclical” opportunities amid the virus downturn, its Chief Financial Officer Andrew Lim told analysts the same month.