0001.HK - CK Hutchison Holdings Limited

HKSE - HKSE Delayed Price. Currency in HKD
71.000
-0.500 (-0.70%)
At close: 4:08PM HKT
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Previous Close71.500
Open71.050
Bid70.950 x 0
Ask71.000 x 0
Day's Range70.500 - 71.550
52 Week Range64.300 - 92.500
Volume5,913,586
Avg. Volume6,088,002
Market Cap273.793B
Beta (3Y Monthly)0.89
PE Ratio (TTM)7.02
EPS (TTM)10.110
Earnings DateJul 29, 2019 - Aug 2, 2019
Forward Dividend & Yield3.17 (4.43%)
Ex-Dividend Date2019-09-02
1y Target Est111.06
  • Hutchison Weighs Indonesia Mobile Combination With Axiata
    Bloomberg

    Hutchison Weighs Indonesia Mobile Combination With Axiata

    (Bloomberg) -- CK Hutchison Holdings Ltd., the Hong Kong conglomerate backed by tycoon Victor Li, has made a preliminary approach to Axiata Group Bhd. about a potential combination of their Indonesian telecommunications operations, people with knowledge of the matter said.CK Hutchison informally expressed interest in exploring a combination of its Indonesian wireless business with the Malaysian carrier’s local unit, PT XL Axiata, the people said. The parties haven’t yet started any substantive negotiations, according to the people, who asked not to be identified because the information is private.Shares of XL Axiata jumped as much as 9.8% in early Tuesday trading in Jakarta, its biggest advance since Feb. 18. The stock has risen about 76% this year, giving the company a market value of $2.65 billion.Axiata, Malaysia’s biggest wireless carrier, and Norway’s Telenor ASA last week ended talks to merge their Asian telecommunications operations in a deal that would have created a company with 300 million customers across nine countries.The Malaysian company has been introducing strategic investors to some of its businesses and pushing into new areas as it seeks to revitalize growth. In July last year, Japan’s Sumitomo Corp. invested in its mobile advertising arm, while Tokyo-based trading house Mitsui & Co. bought a stake in Axiata’s digital services unit this year. Axiata’s wireless tower business has also attracted preliminary takeover interest in recent months, Bloomberg News has reported.The exact structure of any potential deal in Indonesia hasn’t been determined, according to the people. Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said. A representative for CK Hutchison declined to comment.“Axiata has created significant value uplift and attractiveness for its operations and as evidenced in the last one year,” Axiata said in a statement in response to Bloomberg queries. “We have attracted a lot of suitors to partner with us and seeking to acquire our assets including Telenor, Mitsui, Sumitomo, among others.”Hutchison Asia Telecommunications, which houses CK Hutch’s telecom business in Indonesia, Vietnam and Sri Lanka, had about 45.7 million active customer accounts across the three countries, according to its latest interim financial report. Indonesia accounted for HK$3.7 billion ($472 million), or 86% of Hutch Asia’s total revenue in the first six months of 2019. It’s the only Hutch Asia’s market that posted positive earnings before interest, tax, depreciation and amortization.(Updates to XL Axiata share performance in third paragraph)\--With assistance from Fathiya Dahrul, Vinicy Chan, Tassia Sipahutar, Thomas Kutty Abraham, Shirley Zhao and Ville Heiskanen.To contact the reporters on this story: Elffie Chew in Kuala Lumpur at echew16@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net;Joyce Koh in Singapore at jkoh38@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    CK Hutchison mulls Indonesian telecom deal with Axiata -Bloomberg

    CK Hutchison Holdings Ltd is weighing a combination of its Indonesian telecommunications business with that of Malaysia's Axiata Group Bhd, Bloomberg reported on Monday, citing people with knowledge of the matter. CK Hutchison, the ports-to-telecoms arm of retired billionaire Li Ka-shing's businesses, informally explored a combination of its Indonesian wireless business with the Malaysian carrier's Indonesian unit, PT XL Axiata, the report https://bloom.bg/2kDgC55 said. The companies have not begun any substantive negotiations, it added.

  • This Drugstore Is a $3 Billion Headache
    Bloomberg

    This Drugstore Is a $3 Billion Headache

    (Bloomberg Opinion) -- Take Hong Kong protests, add a dash of Brexit and then stir in the death of brick-and-mortar shopping. It’s hardly surprising that a savvy investor would want to bail from its stake in A.S. Watson Group, a retailer based in the former British colony with a big U.K. footprint. These latest geopolitical flash points have been cited for Temasek Holdings Pte’s decision to table the sale of its $3 billion interest in A.S. Watson, Bloomberg reporters Manuel Baigorri, Joyce Koh and Vinicy Chan wrote Wednesday. The company has a sprawling operation in Hong Kong that includes the ubiquitous Watsons drugstore chain, supermarkets and electronics stores. Pro-democracy protests in the city, which have choked main commercial areas over the past several weekends, have become a problem. The city’s retail sales could plunge to a decade low in August, after an 11.4% drop in July, Bloomberg Intelligence says. Tourist arrivals in July fell 4.8% from a year earlier, the Immigration Department said. Meanwhile, A.S. Watson owns Superdrug, a pharmacy and beauty retailer with hundreds of stores in the U.K. As Brexit uncertainty rocks the pound, revenue coming in looks weaker for a parent that reports earnings in Hong Kong dollars (which trace the greenback).But offloading A.S. Watson would be a hard sell even without the background noise of these political dramas. Temasek forked out HK$44 billion ($5.6 billion) in 2014 to buy a 25% stake in the retailer from Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd., which remains the controlling shareholder. The global ports-to-telecom conglomerate said it planned to list the business within three years. In a world where the likes of Amazon.com Inc. and Alibaba Group Holding Ltd.’s Taobao have decimated traditional drugstores, finding a willing buyer has been an uphill task.The Singapore investment firm’s asking price also looks quite rich. The $3 billion tag for a 10% stake amounts to a valuation of $7.5 billion for the 25% currently owned by Temasek. In March, Citigroup Inc. analysts said that the target price implies a valuation of 16.5 times forward Ebitda – well above the 9 times the broker had assigned to A.S. Watson. While the stake had once piqued the interest of Mubadala Investment Co., the Abu Dhabi sovereign fund, and even Tencent Holdings Ltd., ultimately it wasn’t tempting enough for an interest with no management control.These unfortunate turns come just as things were starting to look up for A.S. Watson. The company was making headway into online groceries, including a tie-up for its ParknShop supermarket chain in Guangdong with mainland rival Yonghui Superstores Co. and Tencent. During the first half of the year, excluding a one-time HK$633 million gain from its mainland venture, Watson’s retail earnings before interest, tax and depreciation rose 6% in local currencies, driven by its health and beauty-product sales in Asia. Its Chinese operations also saw a turnaround, with same-store sales up 2.2% after declining 1.6% in 2018.Temasek, sitting in stable Singapore, has every reason to want to distance itself from political upheaval in Hong Kong and London. Given A.S. Watson’s troublesome mix, the retailer may need to go at a deeper discount. To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off
    Bloomberg

    U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off

    (Bloomberg) -- European phone companies are selling their mobile masts and growth-hungry U.S. tower companies have money to spend -- it looks like a marriage made in heaven.Instead, firms like American Tower Corp. and Crown Castle International Corp. are largely staying away, making it easier for Spain’s Cellnex Telecom SA and infrastructure funds managed by Macquarie Group Ltd., KKR & Co. and others to sweep up the region’s tower assets.Their hesitation is driven partly by price: the global hunt for yield has driven up the premium for these assets, which offer reliable, steady income streams. Independent tower companies also won’t pay top dollar unless they see a path to significant revenue growth -- and that’s where they have a problem with Europe.“The American tower companies say, ‘OK, Europe is fine at the right price, but prices are not where we need them to be, so we think the opportunities elsewhere are more attractive,”’ said Nick Del Deo, senior analyst at U.S. research firm MoffettNathanson.Tens of thousands of European masts are expected to see ownership changes in the next two years as companies such as Iliad SA, Vodafone Group Plc and Telecom Italia SpA bring in new investors to reduce debt and share the heavy cost of rolling out 5G technology.But only a quarter are likely to end up with independent operators, according to TowerXchange. Vodafone and CK Hutchison Holdings Ltd. are creating separate units for almost 90,000 towers and the consultancy expects them to maintain control over those businesses. That’s a turn-off for independent companies, which try to maximize revenue by leasing mast space to as many network operators as possible.Many European carriers want to keep some hold on their towers because they see mobile infrastructure as a strategic asset that can help them manage costs and perhaps gain a competitive edge. They’re also mindful of what happened in the U.S., where operators rushed to sell their towers more than a decade ago only to find themselves stuck with a big bill for leases and capacity rights.Vodafone Surges on Possible IPO, Stake Sale of Towers UnitVodafone and Telefonica Ink 5G Terms in Move to U.K. Tower SalesNiel Agrees to $3 Billion of Phone Tower Sales to CellnexCK Hutchison to Separate Out European Phone Towers BusinessSelling full ownership of towers to independent players can spur innovation and reduce expenses by encouraging carriers to share infrastructure, avoiding costly duplication. European carriers’ insistence on maintaining control means the continent’s progress in rolling out 5G will likely continue to be slower compared to the U.S., where towers are largely in independent hands.“There is a risk that the European carriers go too far the other way,” Del Deo said. “The captive tower model, if you look globally, has never proven to be that effective.”For now, American Tower is mostly relying on building towers in Africa, Latin America and India for its international growth.Crown Castle didn’t respond to a request for comment on its future European asset bidding plans. American Tower declined to comment. Its chief executive officer, James Taiclet, told analysts last month that recent large European tower sales didn’t meet its bar for growth prospects and asset costs.Here are some other reasons why U.S. tower firms aren’t piling into Europe:Redundancy: Europe has more cases of towers operated by rival carriers sitting in close proximity. An independent owner may want to remove one to cut costs, but the tower often comes with a ground lease that they must keep paying for years.Less Potential: Europe has lots of rooftop antenna sites, which can’t accommodate as many customers as can a ground-based tower. Many European portfolios include broadcast towers in rural areas that may not be as valuable as mobile towers.Radio Emission Rules: In some countries, rules on maximum electromagnetic radio emissions limit the number of antennas a tower firm can install at a single site.\--With assistance from Scott Moritz.To contact the reporter on this story: Thomas Pfeiffer in London at tpfeiffer3@bloomberg.netTo contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net, Jennifer Ryan, Anthony PalazzoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Barrons.com

    Trump’s Tweets and Tariffs Are Amplifying Market Volatility

    Whether it is talk about taxes, the Fed, tariffs, or Greenland, the president is making some investors uneasy

  • Bloomberg

    Li Ka-shing’s Husky Bet Has Lost Over 80% In a Decade

    (Bloomberg) -- Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting -- and some analysts are calling on him to stop the bleeding.Shares of Calgary-based Husky Energy Inc. have plummeted over 80% since its 2008 peak on a myriad of reasons: a slump in oil prices, a dividend suspension, a production cut due to a close call with an iceberg and a failed C$2.75 billion hostile takeover bid for MEG Energy Corp.That has led to the majority stake owned by Li losing C$26.5 billion ($20 billion) in value, according to data compiled by Bloomberg. Li and Hutchison Whampoa, now owned by CK Hutchison Holdings Ltd., became Husky’s majority shareholders in 1991, according to Husky Energy’s website. He retired as head of CK Hutchison and CK Asset Holdings Ltd. last year and handed over the reins to his eldest son Victor Li.The slump in the company’s share price has drawn RBC Capital Markets analysts led by Greg Pardy to contemplate whether the company should consider going private to capture the gap between its market value and its underlying value, and so it can make the right moves without market scrutiny.“If ever there was a time for Husky to consider going private, we believe it is now,” Pardy said in a research report published Monday.Easy Task?While the possibility of taking Husky private, which is about 69%-owned by Li, would make sense, Husky’s lower free cash flow level compared with its peers may not make this a simple task, according to Canoe Financial’s senior portfolio manager Rafi Tahmazian. He added that Asian mogul Li would have to fork out cash over the next few years to meet capital commitments should he decide to take the company private.Husky is a part of the growing list of energy companies that analysts are pitching the idea of going private. Citigroup Inc. said last month that pipeline owner SemGroup Corp. should considering going private because it’s undervalued and may need a few years to address investors’ concerns. In late June, Seaport Global Securities LLC said shale driller Continental Resources Inc. could be a go-private candidate because its management feels like public markets aren’t rewarding “positive behavior in the E&P space.”Shale Billionaire Hamm Says Little Value in His Public ListingHusky’s integrated operations including refining makes the company more resilient to commodity price differential movements and Tahmazian doesn’t see the idea of Husky going private being specific to the company’s woes.“It is the sign of the times that we see these suggestions,” he said.(Updates story with value erased in third paragraph and adds that Li retired last year.)\--With assistance from Pei Yi Mak and Kevin Orland.To contact the reporter on this story: Michael Bellusci in Toronto at mbellusci2@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Divya Balji, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    In Hong Kong, a protest boom for some businesses starts waning

    John Lam's safety equipment shop has been spared the global downdraft shaking Hong Kong's economy. In times of crisis, businesses providing basic necessities tend to fare better. In Lam's case, that means hard hats, filtered masks, goggles and other gear that millions of anti-government protesters taking to the streets in the past two months bought to protect themselves as clashes with police turned increasingly violent.

  • Fastweb’s Mobile Push Breaks Italy Telecom’s Consolidation Dream
    Bloomberg

    Fastweb’s Mobile Push Breaks Italy Telecom’s Consolidation Dream

    (Bloomberg) -- Swisscom AG’s Italian unit Fastweb is becoming the fifth wireless carrier in an industry that had aimed to reduce the number of mobile phone players in a bid to fight shrinking revenue.Italy’s Development Ministry awarded Fastweb the license last week, a company representative said. Fastweb, which offers high-speed internet services to consumers and businesses wants to attract more lucrative subscribers from rivals such as Telecom Italia SpA and Vodafone Group Plc in one of the world’s most competitive mobile markets.Fastweb had already provided mobile service by renting space on Telecom Italia’s network. Now, it plans to build its own infrastructure. The company paid about 200 million euros ($223 million) for mobile spectrum and towers from Tiscali SpA last year and then bought 5G frequencies for 32.6 million euros. In June, Fastweb also reached a deal with CK Hutchison Holdings Ltd.’s Wind Tre to share investments to build 5G networks in Italy.Fastweb’s move goes against the consolidation trend in the Italian telecomunications industry that started in 2015, when VimpelCom Ltd. and Hutchison reached a deal to combine their Italian businesses. Between 2013 and 2018, the Italian mobile industry lost 2.4 billion euros of revenue due to a price war among service providers, according to the country’s communications regulator Agcom.When Wind and Tre agreed to merge, industry executives hoped consolidation would ultimately cut the number of Italian carriers to three from four.Instead, France’s Iliad SA, one of Europe’s most aggressive phone carriers in term of pricing, entered the Italian market last year following a request by the European regulator to maintain competition.To contact the reporter on this story: Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Dan LiefgreenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Vodafone 5G Network Opens New Front in Britain’s Wireless Wars
    Bloomberg

    Vodafone 5G Network Opens New Front in Britain’s Wireless Wars

    (Bloomberg) -- Vodafone Group Plc switched on the U.K.’s second 5G wireless network on Wednesday, kicking off a commercial battle with dominant rival EE that could shape a decade of sales.The technology’s faster download speeds and more reliable connections give the first movers an opportunity to snatch a bigger share of a saturated market. Back in 2012, EE -- now owned by BT Group Plc -- launched 4G services almost a year ahead of the pack, an edge that cemented its position as the U.K.’s largest mobile carrier.Vodafone isn’t making the same mistake again. Its 5G service went live in seven cities just a month after EE’s launch, giving both companies a chance to grab business with early adopters. Britain’s other two mobile networks -- CK Hutchison Holdings Ltd.’s Three U.K. and Telefonica SA’s O2 -- aim to offer 5G by the end of the year.Britain’s mobile price war looks set to continue in the 5G era: Vodafone said Wednesday it would set prices according to connection speed rather than the amount of data consumed, and won’t charge a premium for 5G.“We’ve decided it’s time for the U.K. to be unlimited,” said Vodafone’s consumer director Max Taylor.The stakes are arguably higher now than when 4G was launched. Europe’s phone industry has been stagnating for several years, partly because handsets have become more expensive and offer fewer appealing features with each upgrade. That’s dampened an important source of revenue for the network operators. 5G marks a rare boost in power and speed.“5G is a massive opportunity for the smartphone sales business of operators like Vodafone,” said Canalys analyst Ben Stanton by email. “For the first time in a decade, customers will be compelled to upgrade both their device and their tariff at the same time.”EE has plastered 5G ads across big cities and enlisted rap star Stormzy in its biggest ever marketing effort, a spokesman said. It offered 5G connections at the five-day Glastonbury music festival, where Instagram-happy smartphone users gobbled up 104 terabytes of data, 1,000 times more than at the same event in 2010, according to EE.5G gives Vodafone a chance to reset its brand after a period of intense customer complaints and cancellations that peaked in 2015, said Ben Wood, an analyst at CCS Insight. Vodafone poached Taylor in March from EE, where he was head of marketing.“If you can associate your network brand with being the best for 5G then that’s going to be a big leg-up on your rivals,” said Wood.Huawei RisksEE and Vodafone aim to reach more than 15 urban centers by year end. The networks can handle far more data than 4G and could end up being 100 times faster, pushing down operating costs.Yet the commercial opportunity is still clouded in uncertainty.All the U.K. carriers are rolling out hundreds of 5G radio antennas supplied by Huawei Technologies Co., before the government has decided whether to restrict the Chinese vendor over concerns that its 5G systems are vulnerable to espionage or disruption. If it does, the companies could have to replace Huawei gear with equipment from alternative suppliers.The U.K. is the biggest European market so far to offer competing 5G services. Two Swiss networks, Sunrise Communications Group AG and Swisscom AG, began theirs earlier this year.(Updates first paragraph with network going live, adds detail on pricing.)\--With assistance from Nate Lanxon.To contact the reporter on this story: Thomas Seal in London at tseal@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Thomas PfeifferFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • GlobeNewswire

    Chi-Med Announces Secondary Offering of American Depositary Shares

    Hutchison China MediTech Limited (“Chi-Med”) (AIM/Nasdaq: HCM) announces that Hutchison Healthcare Holdings Limited (“HHHL”), the largest shareholder of Chi-Med and a subsidiary of CK Hutchison Holdings Limited (SEHK: 1), intends to offer 8,500,000 American Depositary Shares ("ADSs"), each representing five ordinary shares ("Ordinary Shares"), par value US$0.10 each of Chi-Med ("Offering").

  • Victor Li Tries on His Superman Suit in Shanghai
    Bloomberg

    Victor Li Tries on His Superman Suit in Shanghai

    Victor Li’s CK Asset Holdings Ltd. is considering selling its 60% stake in a commercial building that’s valued at almost $3 billion, Bloomberg News reported this week, citing people familiar with the matter. The 54-year-old elder son of Hong Kong’s richest man took over as chairman of CK Asset and group flagship CK Hutchison Holdings Ltd. upon his father’s retirement last year. The mixed-use development is CK’s single-biggest Shanghai project, so a decision to sell could be seen as a significant call on the city’s office market.

  • Reuters

    Biotech group Chi-Med plans Hong Kong listing of up to $500 mln - sources

    Biotech company Hutchison China MediTech, known as Chi-Med, has filed for a Hong Kong listing, which four sources close to the matter said could raise up to $500 million. Chi-Med, which is already listed on the London Stock Exchange and the Nasdaq in New York, filed its listing application with the Hong Kong stock exchange on Monday. "We are delighted to announce our proposed Hong Kong listing and global offering of shares," said Simon To, Chairman of Chi-Med, which is 60.2 percent owned by CK Hutchison.

  • Reuters

    PRESS DIGEST- British Business - April 1

    The following are the top stories on the business pages of British newspapers. Transport for London selected Britain's residential landlord Grainger PLC as its preferred partner to build and manage more than 3,000 homes for rent across the city. Almost 2 million workers in the United Kingdom are in line for a pay rise on Monday as the legal minimum wage increases by nearly 5 percent.

  • GlobeNewswire

    Chi-Med Initiates a Phase IIb/III Trial of Surufatinib in Patients with Unresectable or Metastatic Biliary Tract Cancer in China

    LONDON, March 29, 2019 -- Hutchison China MediTech Limited (“Chi-Med”) (AIM/Nasdaq: HCM) has initiated a registration-enabling Phase IIb/III study comparing surufatinib.

  • Reuters

    CK Hutchison says global markets still welcome Chinese deals

    CK Hutchison Holdings Ltd , the ports-to-telecoms arm of retired billionaire Li Ka-shing, said it does not feel Chinese companies are being barred from M&A opportunities in the global markets, even though its bid in Australia was blocked. In November, CK Group terminated an $9.5 billion agreement to acquire Australia's biggest gas pipeline company APA Group after Australia blocked the takeover bid, citing national interest. Hong Kong is our root, but in other global markets we don't see any rejection," group chairman Victor Li told an earnings conference.

  • Reuters

    CK Hutchison says to support Temasek shedding stake in A.S. Watson

    CK Hutchison Holdings Ltd , the ports-to-telecoms arm of retired billionaire Li Ka-shing, said on Thursday it would support Temasek Holdings' plans to offload a part of its stake in beauty and health retailer A.S. Watson. CK Hutchison is not considering to sell its stake in A.S. Watson, the company said. Singapore state investor Temasek is in talks to sell a small portion of its 24.9 percent stake in A.S. Watson, a source said in January.

  • Reuters

    CK Hutchison full-year profit rises 11 pct, in line with forecasts

    HONG KONG, March 21 (Reuters) - CK Hutchison Holdings Ltd , the ports-to-telecoms arm of retired billionaire Li Ka-shing, on Thursday posted an 11 percent rise in full-year profit, as stable growth in ...

  • Reuters

    BRIEF-CK Hutchison Holdings Says FY Profit Attributable HK$39,000 Mln

    March 21 (Reuters) - CK Hutchison Holdings Ltd: * FY PROFIT ATTRIBUTABLE HK$39,000 MILLION VERSUS HK$35,100 MILLION * FY TOTAL REVENUE HK$453,230 MILLION VERSUS HK$414,837 MILLION * ANNOUNCES FINAL DIVIDEND ...