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Tycoon Li Ka-shing urges Britons to vote against Brexit - Bloomberg

June 20, 2016 at 10:34 pm EDT

HONG KONG (Reuters) - Li Ka-shing, one of Asia's richest men, urged Britons to vote in favour of staying in the European Union, saying it would be detrimental to the U.K. and Europe if Brexit went through, Bloomberg reported.

"Of course, I hope that the U.K. doesn't leave the EU," the property tycoon told Bloomberg Television in an interview.

The U.K. accounts for 37 percent of profit at Li's main company, CK Hutchison Holding Ltd, Bloomberg said.

Li said in March that he expected to scale back investment in the U.K. if Britons voted to exit the EU.

But in Tuesday's broadcast, he said that his businesses in the U.K. and Europe would continue regardless of the result, Bloomberg reported.

CK Hutchison officials were not immediately available for comment.

Two opinion polls on Monday suggested support for Britain staying in the European Union had recovered some ground following the murder of a pro-EU lawmaker, but a third poll found support for a "Brexit" ahead by a whisker.

(Reporting by Donny Kwok; Editing by Edwina Gibbs)

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Li Ka-shing

Richest man in Asia and eleventh global fortune according to Forbes in 2011, Li Ka-shing is the boss of conglomerates Hutchison Whampoa, Cheung Kong Holdings and Watson Group, the world leader in port management.

At 17 years old, Li Ka-shing left his studies to sell watches in the store of his uncle. Quickly he becomes the best seller and at the age of 19, he is hired by a company to sell various metal items. Seller the day, he also works the night to monitor the manufacturing process. This job allows him to control the operation of a factory and the product’s commercialization.

In 1947, Li Ka-shing borrows some money to his family and begin selling artificial flowers. He creates a factory for the production and hires the best salesmen. The notoriety of the firm increases and Li Ka-shing signs profitable contracts. In a few years,he becomes the biggest provider of artificial flowers in Asia.

In the sixties, the Cultural Revolution moves lot of people to leave the country and the real estate’ price drop sharply. Li Ka-shing is convinced that prices will go up so he decides to buy a lot of lands. In 1971, he creates the real estate company Cheung Kong.

In a few years, the businessman appears like “the strong man of the real estate” in Hong Kong. Front of the globalization, he begins to invest in ports.

In 1979, Li Ka-shing takes the control of Hutchison Whampoa Limited which he holds 22%. From that time on, starts a rapid expansion which allows HWL to establish in Rotterdam and Panama. The group becomes the first global port operator.

Since, Li Ka-shing has continued to increase investment in areas such as telephony. In 1999, he sold his 48% shares in Orange to the group Mannesman for nearly 15 billion dollars.
First investor in the 3G, he is the leader in this area in Europe.

He has also invested $ 120 million in the social network Facebook (he holds 0.8%).

In 2005 he bought the perfumery chain Marionnaud. He also holds the airline Air Canada.

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