HONG KONG (Reuters) - Hong Kong's Henderson Land Development Company Limited and Hong Kong and China Gas Co Ltd said on Wednesday their Chairman Lee Shau Kee was considering stepping down after the companies' respective annual general meeting in May, citing "being advanced in age".
According to separate filings, Lee, aged 91, will also step down as director from Henderson Investment Ltd, but will remain a director in Henderson Land.
His sons Lee Ka Kit and Lee Ka Shing were proposed to be appointed as joint chairmen of Henderson Land as well as Hong Kong and China Gas, the filings said.
Lee Shau Kee is the second-richest man in Hong Kong and 29th in the world with a net worth of $30 billion, according to Forbes.
(Reporting by Clare Jim; Editing by Shreejay Sinha)
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| 0.11 HKD | +7.84% | -0.90% | 39.69M | ||
Second richest man in Hong Kong behind Li Ka-Shing and 43rd richest man in the world according to Forbes in 2009, Lee Shau Kee is the CEO of Henderson Land Development Company and Hong Kong and China Gas Company Limited. He is nicknamed the Warren Buffett of Hong Kong.
The master stroke of Lee Shau Kee was to transfer assets to his family from China to Hong Kong before the advent of communism. In 1948, he arrived in Hong Kong and worked for a time in imports and exports before embarking ten years later on the real estate market. He founded with other investors from Hong Kong Eternal Enterprise Company, a real estate agent which allows him to conclude his first deals.
But Lee Shau Kee thinks big. In 1963, he founded Sung Hung Kai Properties and participated in the assault on everything related to real estate. Ten years later, his activities have gained scope, he decided to restructure the real estate company in a group with multiple activities, it is the birth of Henderson Land Development Company.
In 1981, the group made its debut on the Hong Kong Stock Exchange.
In 1985, Lee Shau Kee takes control of the investment company Wing Tai, which becomes Henderson Investment.
In 1989, the new Hong Kong tycoon widens the field of action of the group by launching the chain stores Citistore.
In 1992, he incorporated hotels into the group's activities.
In 1995, he created Megastrength, a security services company.
The enrichment of Lee Shau Kee accompanies the growth of Hong Kong. He is a major player in the regional economy. His group now owns the company Miramar Hotel & Investment Hotels, the gas operator in Hong Kong & China Gas, the ferry operator Hong Kong Ferry Company.
In 1993, Dr. Lee Shau Kee was awarded of the title of Honorary Doctor of Social Sciences at the Chinese University.
| Linked companies | |
|---|---|
| HENDERSON LAND DEVELOPMENT COMPANY LIMITED | Founder |
Henderson Cyber Ltd.
 Henderson Cyber Ltd. Internet Software/ServicesTechnology Services Hendersen Cyber Ltd. provides information technology services. It offers facility management and administration, computer center operations, network management, and systems integration services to the business and residential markets. The company was founded in 2000 and is headquartered in Hong Kong City, Hong Kong. | Chairman |
