It’s not been the best of weeks for Asian business magnet Li Ka-shing, whose flagship companies Cheung Kong Holdings and Hutchison Whampoa both reported mixed results, but a number of other family businesses, including Toyota, have fared better.
At Cheung Kong, six-month revenues were 32% lower at HK$17.72 billion (€1.85 billion), compared to HK$26.1 billion during the same period last year. The company, controlled by Li and his family, blamed a slower-than-expected Chinese housing market.