CK Hutchison, CK Asset will not hold earnings conferences on Thursday

Local conglomerate CK Hutchison (0001) and its sister company CK Asset (1113) confirmed that they will not hold media and analyst conferences this week. 

The two firms are scheduled to release their full-year results on Thursday. 

CK Hutchison has agreed to sell its global ports business to a group led by BlackRock through which the group will stand to receive US$19 billion (HK$148.2 billion) in cash. 

When asked about the government’s views on the deal before the Executive Council meeting on Tuesday, Chief Executive John Lee Ka-chiu said there have been extensive discussions in society about the issue, which deserves serious attention.

The SAR urged foreign governments to provide a fair and just environment for enterprises, including enterprises from Hong Kong, Lee said, adding that it opposed the abusive use of coercion or bullying tactics in international, economic, and trade relations.

Lee stressed that any transaction must comply with the legal and regulatory requirements and Hong Kong will handle it in accordance with the law and regulations.

Shares of CK Hutchison dropped by 2.8 percent and those of CK Asset also inched down 0.15 percent on Tuesday.

STAFF REPORTER