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CKH Victor Li: Financial Strength Key to Navigating through Tidal Waves
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CKH HOLDINGS (00001.HK) Chairman Victor Li, at the shareholders' meeting, was asked about the global landscape and tariffs. Shunning the prediction of the global economic development, Li emphasized the importance of ensuring the group's financial health, as financial strength is paramount to navigate through tidal waves. He described that everyone is being put under another stress test, with the group cautiously holding more cash and less debt. Regarding the planned sale of the Panama Canal port, Executive Director and Group Co-Managing Director Dominic Lai conceded that a company under the European shipping company, MSC, is the key investor of the proposed deal. As for the progress, he highlighted that it requires many reviews, and CKH will fully cooperate. The group will not implement any concentration before approval and will not engage in illegal or non-compliant activities. When asked if the group would divest its European telecom business, Co-Managing Director Frank Sixt replied that they regularly receive acquisition proposals and are exploring and evaluating options to enhance long-term shareholder value. However, he noted that the board has not made any decisions regarding transactions related to the company's global telecom business. As to the merger of Three UK with local peer Vodafone, he said the group had announced that it expects to complete it within this year, with all parties endeavoring to complete the necessary procedures, and will announce it in due course after the transaction is completed. On shareholder returns, Victor Li stated that whether the group will repurchase shares hinges on market conditions, whereas increasing dividends also depends on many factors, including company performance, external factors, and the global economy, making it hard to make assumptions given many uncertainties. AASTOCKS Financial News Website: www.aastocks.com |
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