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Company: Cheung Kong Infrastructure Holdings Limited, Hong Kong
Company Description: CKI is the largest publicly listed infrastructure company in Hong Kong with diversified investments in Energy Infrastructure, Transportation Infrastructure, Water Infrastructure and Infrastructure Related Business. Operating in Hong Kong, Mainland China, Australia, the United Kingdom, Canada and the Philippines, it is a leading player in the global infrastructure arena.
Nomination Category: Company & Office Categories
Nomination Sub Category: Best Multinational Company in Asia (China, Japan, and Korea)
Nomination Title: Cheung Kong Infrastructure Holdings Limited
1. Tell the story about what this nominated company achieved (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
ACCOMPLISHMENTS SINCE 1 JANUARY, 2007
Cheung Kong Infrastructure Holdings Limited (“CKI” or the “Group”) has achieved
a strong performance for the 2007 financial year:
- Profit for the year ended 31st December, 2007 increased by 30% to reach
HK$4.8 billion as strong operating performance was achieved across the Group’s
diverse portfolio of businesses around the world.
- A very strong balance sheet has been maintained – cash on hand amounted to
HK$8.2 billion as at 31st December 2007, while debt was HK$7.6 billion,
resulting in no net debt at the corporate level.
- The final dividend for 2007 was HK$1.10 per share, a 10% increase over
last year; this represents 11 continuous years of dividend growth since the
Group’s listing in 1996.
- The Group’s “A-” rating from Standard and Poor’s has been maintained
for the 11th consecutive year.
A number of business milestones were also achieved during the course of 2007:
Commissioning of Jinwan Phase 1 Power Plant project
The Jinwan Phase 1 Power Plant project in Zhuhai, China, was commissioned in
February 2007. This has added 1,200 MW of electricity generation capacity and
provided additional profit contribution to the Group.
Agreement to develop Jinwan Phase 2 Power Plant project
In October 2007, CKI signed an agreement to develop the Jinwan Phase 2 Power
Plant project, which will comprise two new power plant units with total
installed capacity of 2,000 MW. The total investment cost is expected to be
around RMB 6.8 billion.
Acquisition of stake in Southern Water Group
The Group’s portfolio of investments in the United Kingdom was extended with
the acquisition of a stake in Southern Water Group in the fourth quarter of
2007. Southern Water is a regulated water and sewage company in the United
Kingdom, with an enterprise value of approximately HK$66 billion.
Acquisition and privatization of TransAlta Power, L.P.
In 2007, CKI made its first electricity generation investment in North America
with the acquisition and privatization of TransAlta Power, L.P., which was
previously listed on the Toronto Stock Exchange. The total cost of the
acquisition was approximately HK$5 billion (C$630 million). TransAlta Power has
stakes in six Canadian power plants with a total generating capacity of 1,362
MW. The acquisition represents a springboard for CKI into the Canadian
electricity market and is poised to provide immediate cashflow stream and
profit contribution to the Group in 2008.
In addition, in April 2008, CKI also extended its portfolio to electricity
distribution in New Zealand:
Acquisition of Wellington electricity distribution network
On 28 April, 2008, the Group acquired the Wellington electricity distribution
network in New Zealand from Vector Limited, a listed company on the New Zealand
Stock Exchange, for NZ$785 million (HK$4,798.4 million). The Wellington
electricity distribution network supplies electricity to the city of
Wellington, the capital of New Zealand, and extends to the Porirua and Hutt
Valley regions, with a system length of over 4,592 km. The acquisition
represents CKI’s first foray into New Zealand and will bring in immediate
profit contribution to the Group.
Following these developments, CKI’s quality portfolio now comprises:
- A power generation portfolio in Hong Kong, Mainland China and Canada
that will exceed 10,000 MW;
- Electricity distribution networks in Hong Kong, Australia and New
Zealand;
- Gas distribution businesses in the United Kingdom and Australia;
- Water assets in the United Kingdom and Australia; and
- Toll roads and bridges that cover approximately 400 kilometres in
various provinces in Mainland China.
CKI is the largest publicly listed infrastructure company in Hong Kong (HKEx:
1038) with diversified investments in Energy Infrastructure, Transportation
Infrastructure, Water Infrastructure and Infrastructure Related Business.
Operating in Hong Kong, Mainland China, Australia, the United Kingdom, Canada,
New Zealand and the Philippines, it is a leading player in the global
infrastructure arena.
2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://www.cki.com.hk/english/whatsNew/2008/index.htm
http://www.cki.com.hk/english/whatsNew/2007/index.htm
3. Provide a brief (up to 100 words) biography about the leader of this nominated company:
CHAIRMAN’S BIOGRAPHY
Mr Victor Li is Chairman of Cheung Kong Infrastructure Holdings Limited. He is
also Managing Director and Deputy Chairman of Cheung Kong (Holdings) Limited;
Chairman of CK Life Sciences Int’l., (Holdings) Inc.; Deputy Chairman of
Hutchison Whampoa Limited; the Co-Chairman of Husky Energy Inc.; and a Director
of The Hongkong Electric Holdings Limited. Mr Li serves as a member of the
Standing Committee of the 10th National Committee of the Chinese People’s
Political Consultative Conference of the People’s Republic of China. He is also
a member of the Executive Committee of the Commission on Strategic Development
of the Hong Kong Special Administrative Region. He holds a Bachelor of Science
degree in Civil Engineering and a Master of Science degree in Structural
Engineering.
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