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Cheung Kong, the second-biggest developer in Hong Kong, reported a 13% decline in first-half profit, as home sales continue to be affected by government measures.
Cheung Kong and its rivals are selling the fewest homes in almost five years, and earnings fell from HK$6 billion to HK$3.8 billion.
Hutchison Whampoa has been taking advantage of the downturn in Europe to invest in telecommunications (buying Telefonica SA's Irish unit), power, utilities and water companies.
It has bought Telefonica SA's Irish unit and Afvalverwerking BV (waste processing in Europe), and its energy business is developing a gas project in the South China Sea and an oil sands project in Canada.
Read the full article on Bloomberg.
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