Cheung Kong's Li: Group has no immediate plans for restructuring

HONG KONG (AFX-ASIA) - Cheung Kong (Holdings) chairman Li Ka-shing said the  Cheung Kong Group has no immediate plans for restructuring.

The comments came after local news media reported the group was seeking  restructuring as Cheung Kong (Holdings) proposed to raise its authorised share capital.

In a statement, Li said the report was just speculation.

"Cheung Kong Group has no immediate plans for restructuring ... Seeking a general mandate to increase authorised share capital is just a house-keeping routine operation. It is not for any special purpose," Li said.

"I am very satisfied with the present structure of the group. All of our companies are doing well and the results are very encouraging," Li said.

Commenting on the local property market, Li said interest rates have come down a lot and there is a 6-9 month time lag between interest rate falls and market reactions, although he added "investors are beginning to appear."

Li said Cheung Kong Holdings will continue to be in the property business, although it has already diversified its operations.

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