Li Ka-shing

ASIA’S SU­PER­MAN: CHAIR­MAN, CK HUTCHI­SON AND CHE­UNG KONG PROP­ERTY; RE­SPECTED PHI­LAN­THROPIST

Forbes - - CON­TENTS -

My ex­pe­ri­ence in man­u­fac­tur­ing taught me cash flow is the lifeblood of a com­pany and one of the best safe­guards for a com­pany’s fu­ture. Be­tween 1999 and 2000, when ev­ery­one saw the 3G de­vel­op­ment in Europe as a gold mine, it was over­hyped. All through the spec­trum auc­tion, I di­rected our team to ad­here to our cash flow pro­jec­tion and only ad­vance with cau­tious de­lib­er­a­tion. I knew ev­ery­one thought I was too con­ser­va­tive and chal­lenged this man­date. But in ret­ro­spect our tele­com busi­nesses re­main com­pet­i­tive while sev­eral of those com­pa­nies that won the bid were stuck. Writ­ing a check to in­vest $100 is easy; re­turn­ing the same to share­hold­ers is harder. That’s why I am a strong believer in ad­vanc­ing with cau­tious de­lib­er­a­tion. Pru­dence and agility, cre­ativ­ity and in­no­va­tion will give you the edge to thrive in un­cer­tain times.

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