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Another Husky Energy payout means more cash for Li

Tue Feb 6, 2007 5:19pm ET

By Jeffrey Jones

CALGARY, Alberta, Feb 6 (Reuters) - Hong Kong billionaire Li Ka-shing and his companies will pocket C$300 million ($254 million) in dividends from his lucrative majority investment in Canadian energy firm Husky Energy Inc.

Husky, the country's No. 4 oil producer and refiner, said late on Monday it will pay nearly C$425 million in regular and special dividends in early April.

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Labels: li-ka-shing

Li Ka Shing - The King of Timing

Li Ka Shing has been in the news recently for selling his stake in Hutchison Essar to Vodafone for 11 billion $, proving yet again he is a master of timing.

For many years now, Li has been known to make the right investment at the right time and sell out for billion-dollar profits.

In 1999, he sold UK-based Orange telephone network to Germany's Mannesmann for a $14.6 billion profit.

Then, through the early 90s skeptics wondered why he took control of Canada's Husky Oil, which posted poor returns for years. Today the company is a prized jewel in his portfolio.

It will not be too long before we hear of Li again in one of his record-making deals

Labels: li-ka-shing

'Superman' Li Ka-shing cashes in

13 Feb 2007 , Tony Munroe HONG KONG, Reuters

Hong Kong billionaire Li Ka-shing cemented his status as a master of market timing with an US$11 billion deal to sell a controlling stake in Indian mobile carrier Hutchison Essar to Vodafone Group Ltd.

Known in Hong Kong as "Superman" for his deal-making prowess, the 78-year-old Li, who fled Japanese-occupied mainland China with his family in 1940, built a plastic flower business into a global empire with more than 220,000 employees in 56 countries.

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Labels: li-ka-shing, telecommunications