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Asia’s richest man looks to buy Irish state assets

Billionaire Li Ka-Shing sends delegation to Ireland

CATHY HAYES,

IrishCentral.com Staff Writer

Published Monday, January 24, 2011, 7:10 AM

Updated Monday, January 24, 2011, 7:10 AM

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Li Ka-Shing

One of Asia’s richest men, Li Ka-Shing, is considering takeover of Ireland’s state assets, according to the Sunday Times.

According to Wikipdia He is the richest person of East Asian descent in the world and the fourteenth richest person in the world with an estimated wealth of US$21.3 billion on 13 February 2010.

Presently, he is the Chairman of Hutchison Whampoa Limited (HWL) and Cheung Kong Holdings; through them, he is the world's largest operator of container terminals and the world's largest health and beauty retailer.

Last November, the billionaire sent a delegation to meet Brian Cowen, senior state representatives from departments of Finance and Enterprise, and IDA Ireland officials to examine whether he could take a partial holding in major state-owned assets.

ESB, Bord Gais, Bord na Mona, the National Lottery, and the state’s ports were all possible investment targets.

Li Ka-Shing is a Cantonese investor whose wealth is estimated to be over €15bn.

Nster.com

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sirpeter | Jan 26, 2011, 11:25 PM EST

Help save us!!Somebody Li Ka-Shing says..We buy electric..We buy gas...You no pay..you use candle..We make Irish people eat Chinese all day long with chop sticks..haw haw haw...We own U.S.A and soon we own Ireland..Soon we own everything.Must get rid of Woundedbolix..he no our plan..Chop him up...Woundedbolix chop suey..vely testy haw haw haw

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CaptainCon | Jan 26, 2011, 08:22 PM EST

Firstly, Li Ka Shing is not nor has he ever been a 'Commie'. He fled mainland China to Hong Kong to escape the communists. He then worked 16hrs a day in factories in his teens until he took over Hutchison Whampoa. He does now have good contacts with mainland Chinese Politburo because they need him. Li Ka Shing now owns the high speed rail link to the Channel tunnel in England and a power station and some other large chunks of infrastructure in the region. He didn't acquire $21billion in Hong Kong by selling copies of the socialist worker. The man is an uber capitalist- its just that Americans are happily working on the illusion that China is 'learning' capitalism when in fact China and the Chinese were doing capitalism when the west was still trying to attract mates by throwing dung at each other. I hope Washington is working off better information than some of the ignorant yahoos commenting here.

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sully1167 | Jan 26, 2011, 04:16 AM EST

Don't do it Ireland! You have already gave away Ireland to the EU. When will Ireland Learn! The IRA may need to give up it's wild goose chase in Northern Ireland and come to liberate the Republic.

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KerryLKing | Jan 25, 2011, 03:19 PM EST

Wise Up...get Smart. Do you want this to happen to Ireland like it has happens to us in the USA. So many of the major corporations are either now owned by Asians, or Arabs. Yeah, that's a real nice combo....and no wonder our economy has become so horrible.....it's all "outsourcing to some other country when you call a business. Forget giving the job to an American citizen....it's cheaper to have the call go to India, Emirates, etc. Is that what Ireland wants to happen also??? Wise Up....Get Smart!!!

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pegstermm | Jan 25, 2011, 11:09 AM EST

arrogant asian bastards. they are all like that. ive worked for these zipper heads before. i know how they will drive Ireland into worse shape. all the jobs will be given to the zipper heads and the Irish people will be like those in the U.S. No jobs for native residents just bloody f...ing foreigners.

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pegstermm | Jan 25, 2011, 11:05 AM EST

these rat bastards are buying up everything. our jungle bunny president bows to China and they now own our country. please dont let Ireland belong to some rich communist rice eating zipper head.

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Tedmiller | Jan 25, 2011, 10:37 AM EST

In the souvenir shops in Ireland there are several kinds of items that are marked "Designed in Ireland". It's a code for "Made in China". They don't have to list country of origin. A few years ago folks were upset when they brought back gifts from Ireland that had the "Made in China" stickers, so I'm guessing that they changed the rules. The Chinese can make the stuff cheaper and boost short term profits. Does anyone know how to reverse this trend? Otherwise we'll continue to be Shanghaied in the Souvenir Shops.

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Portia777 | Jan 25, 2011, 09:04 AM EST

China OWNS USA

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cillowen | Jan 24, 2011, 06:01 PM EST

Another oligarch - member of the brotherhood of oligarchs wresting the entrails of a dysfunctioal poodle without a head thingie that pretends being a land of its own. A thingie making way for their queenie this year. Its gonna be a great craic year - with more to follow.

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sirpeter | Jan 24, 2011, 02:04 PM EST

Mavaureen...That's very profound..I can tell you are a philosopher ;)

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Whitepark | Jan 24, 2011, 01:20 PM EST

Now Ive heard everything, no disrepect for the Chinese but Im sure my family turned over in their grave when that was announced.

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Mavaureen | Jan 24, 2011, 01:04 PM EST

I hope you won't mind my adding one more thought. I received this quite a few years ago by email, from whom I don't remember nor do I know the author of this little fable. There once was a little bird that fell out of his nest to the earth below. He was too small to get back up to his nest, so he had to just lay on the cold, cold ground. After a time, a cow came along and managed to dump some of its manure on our little bird. At first, our little bird was angry, but then he realized that the pile of manure that covered him was warm and he felt safe from harm. He started to sing with happiness. Well, along came a cat, who heard the bird's song. So, the cat dug through the manure, uncovered the bird and ate him. The moral of this tale is: The one who s**ts on you is not necessarily your enemy and the one who digs you out of deep s**t is not necessarily your friend!!!

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Mavaureen | Jan 24, 2011, 12:28 PM EST

If the truth is ever told...China owns America. Highways that needed to be repaired. were "leased" to China, who paid for repairs. It just went on and on; cities, townships, villages, etc. who were financially defunct let Chinese "invest" in them. Well, bad went to worse for Americans, with job losses and foreclosures, so tax monies were non-existent. What seemed like a God sent solution turned out to be the devil's deception. The sooner people accept that what 'used to be' is no longer, then the sooner they will think outside the box and realize that they must go back to basics. Remember WWII...victory gardens, rationing, recycling, re-using EVERYTHING, that's how we made it through. Families and neighbors helping and caring for each other, we knew the meaning of being our brother's keeper. Don't think of it as a backward step to progress, it is a TEMPORARY retreat to regroup and rethink what it means to be IRISH and to survive. I believe in God, America and you! With love from America.

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errigal | Jan 24, 2011, 09:58 AM EST

Yes. I don't understand if Erie is in such deep trouble why are hotel's food and the such when traveling over there sky high? I would think they would start coming down. You know they don't like to pay tax's over there even when times were good. Yes Li Kan Sing he would fit right in. Look at all the contanier's he has. The Irish could do a lot more exporting and maybe get a good deal. Someone need's to save the Old Sod. As the saying goes God save Ireland said them all.

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