GRAHAM HISCOTT Brexit won’t mean exit UK’S biggest investor stays put

THE UK’S biggest foreign investor says the Brexit vote hasn’t altered its plans.

Dominic Lai, a board member at Hong Kong-based CK Hutchison, insisted “nothing has changed” when it comes to expanding here.

Hutchison already owns everything from mobile phone giant Three and high street chain Superdrug to Northumbrian Water and the Port of Felixstowe.

Lai admitted last year’s referendum result was a surprise. But he told the Mirror: “After we looked at the upside and the downside, we decided we would continue to invest.”

His comments are a boost to those worried that Brexit will see overseas’ investment dry up.

It also goes against warnings from Hutchison’s powerful chairman before last June’s vote. Li Ka-shing, Asia’s richest man, said: “If Brexit happens, it will be detrimental to the UK.”

He also warned he would scale back investments here in the event of Brexit.

But Lai said the company was continuing to put money into Felixstowe port and telecoms, despite the EU blocking Three’s takeover of rival O2.

CK Hutchison also recently lost a battle to buy health food chain Holland & Barrett.

“We are always looking for targets,” said Lai, who runs Hutchison’s global health and beauty business AS Watson.

Peter Macnab, who heads AS Watson in the UK, said it planned to open between 75 to 80 stores this year across its Superdrug, Savers and The Perfume Shop chains.

Going forward, he said: “We certainly think that we can accelerate that.”

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OWN BRANDS Port of Felixstowe and Superdrug