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Victor Li: Falling Ranking of HK Container Terminal is Undisputable Fact; Changing HKer Consumption Pattern Challenges Retail Sector
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CKH HOLDINGS (00001.HK) held its annual general meeting. Chairman Li Tzar Kuoi, Victor said it is an indisputable fact that ranking of the Hong Kong container terminal has continued to fall. Whether or not to change the use of the land occupied by the Kwai Tsing Container Terminal is up to the Hong Kong Government to decide, and the Group will maintain communication and cooperation with the Hong Kong Government. He said that as a listed company, the group has the responsibility is to strive for returns for its shareholders, and the most important considerations for every investment are the quality, stability and returns of the project. As long as there are quality assets with satisfactory returns, the group will consider them whether they are in Hong Kong, the Mainland or overseas. Asked about the impact of northbound consumption on the Group's supermarket and retail businesses, Li commented that the changing consumption pattern of Hong Kong people has posed a considerable challenge to the retail business in Hong Kong. The Retail Division has adjusted the product mix of its outlets in tourist areas, said Li, adding PARKnSHOP has stepped up its sourcing of products from different parts of the world as well as from the Mainland and offered discounts. Watsons will also continue to implement its O+O platform strategy, with the O+O customer base spending 3x that of physical shop customers. AAStocks Financial News |
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