Victor Li talks to his father, Li Ka-shing, at a press conference in Hong Kong.
PRESS ASSOCIATED
CK Hutchison issued a statement Tuesday to clarify it was not included in the latest blacklist published by the U.S. Department of Commerce after local media reports made a false link to the sprawling company to a company he launched five years ago.
Tha Hutchison Optel Telecom Technology Co. Ltd., or Hutchison Optel, appears on a list of 103 entities with military-related affiliations in China or Russia. The U.S. government has created a new “arms end-user” designation that specifies that American exporters must obtain licenses before they can sell their equipment to the listed companies.
CK Hutchison said they sold their entire stake in Hutchison Optel in 2015, and “no longer own any property or relationship with the company. In fact, Hutchison Optel has already changed its name in Chinese, which translates to: Chongqing Optel Telecom Technology Co.
CK Hutchison is a Hong Kong registered conglomerate with key industries in the fields of ports, sales, infrastructure, energy and telecommunications. CK Hutchison and CK Asset are the major companies of the industrial empire founded by Li Ka-shing, whose fortune is currently estimated at $ 33.2 billion. When Li resigned as chairman in May 2018, eldest son Victor took over both companies.