CK Group Annual Dinner 2019
Speech by Mr. Victor Li
January 11, 2019
Mr Senior Advisor, Fellow Directors and Colleagues:
Happy New Year! I am delighted to be here with you this evening to welcome in 2019.
This year's annual dinner is particularly meaningful to me.
Last year, my father changed his role to become Senior Advisor to the Group; tonight therefore marks the first Annual Dinner that I host as Chairman of the CK Group. In addition, this year - 2019 - also marks the 35th year of my joining CK.
I believe most colleagues would have noticed that since I became Chairman, the Group's policies have remained unchanged, and that we continue to build on CK Group's heritage and adhere to the motto of "advancing without foregoing stability".
I have worked with many colleagues who are present here this evening for many years; in some cases over 30 years. It is my belief that there is always something to learn from everyone. As the proverb goes,"in acompany of three, there are alwaysteachings."The CK Group has businesses in over 50 countries and over 320,000 employees. I have had the pleasure of working with many very capable people. Our relationships are that of mentors as well as friends. I sincerely hope that I will continue to have all your support and advice. If you have any good suggestions, please raise them with me; and should there be difference of opinion, I welcome active and frank discussions.
On the macro front, economic and political uncertainties prevail in many countries around the world. The rise of protectionism, the unceasing trade disputes, the Brexit uncertainties, the various national election outcomes, and the reappearance of ratehikes…all such issues have caused ripples in the global environment and to some extentour Group's businesses.Against this challenging backdrop, especially with the property market in Hong Kong showing signs of a downturn, our deliberate strategy of increasing stable recurrent income adopted several years ago has borne fruit. Currently, the Group has a very strong cash flow. As mentioned in the interim results announcement in August last year, it is expected that recurrent profit contribution of
CK Asset for 2018 would pose an increase of over 50% of that of 2016.
As China continues to deepen its economic reform and to focus on the importance of quality, it is envisaged that the Chinese economy will grow steadily, sustaining healthy development. Looking ahead, major initiatives such as One Belt, One Road, and the Greater Bay Area development would very likely create yet more growth opportunities for the nation.
The CK Group has a solid financial base, as well as substantial diversified businesses globally. Leveraging on these strengths, we will continue to create value and generate returns for our shareholders.
Lastly, I would like to thank everyone for their hard work and valuable contributions over the past year. I wish you all a happy, smooth and healthy New Year!