The investments of Hongkong billionnaire tycoon Li Ka-shing in the United Kingdom will lessen if it decides to leave the 28-bloc European Union, a long-time quandary by the island nation and which might finally be resolved during a referendum on June 23.
Mr. Li, reportedly one of the wealthiest men in Asia, made the statement in a press conference that released the annual update of his international conglomerate, CK Hutchison Holdings. According to Fox News, he expressed his confidence that Britain will stay in the Union. However, if it does officially rescind its membership, the billionnaire will decrease his amount of investments in the country. Li is said to be heavily invested in the industries of infrastructures, mobile phones, ports, and retail.
The Charlotte Observer quotes Li's response in full, while offering no specifics on which iinvestments will be affected: "...in terms of whether we'll have more or less investment, of course it will be lower if Britain withdraws, so we need to be a bit more careful,"
C.K. Hutchison posted a HK$31.2 billion profit last year. The personal net worth of the 87-year-old Li is estimated to be HK$30.6 billion. His acumen in accummulating and generating wealth has earned him the nickname, "Superman", among his Hong Kong admirers.
Li is not the only one who has voiced concerns about the economic impact of Great Britain's departure from the EU. According to AOL, the Bank of England has warned that the resulting atmosphere of uncertainty could impair growth and suspend borrowing costs. Some industry insiders suspect that British banks will maintain borrowing rates at 0.5 percent until 2017.
Currency fluctuations did not spare Li himself. The volatility of the pound, Euro, and other currencies had affected CK Hutchison's earnings in the port, infrastructure, and retail industries.
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