Date
16 August 2018

Wharf to stay put in Hong Kong, expand in mainland, HKEJ says

The Wharf (Holdings) Ltd. (00004.HK) said it has no plans to withdraw from the Hong Kong market, and will continue to invest in the mainland, the Hong Kong Economic Journal reported Thursday, citing chief executive Stephen Ng. Since 2007, Wharf has invested a combined HK$100 billion (US$12.89 billion) in China, or 38 percent of its total assets by 2012, Ng said. On the recently opened Shanghai Free Trade Zone, Ng told the newspaper that Hong Kong needs to be on alert amid rising competition from neighboring cities.

– Contact HKEJ at [email protected]

EL/AC/CG

 

 

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