CK Hutchison issued a statement Tuesday to clarify that it was not on the latest blacklist released by the U.S. Department of Commerce after local media reports mistakenly linked the sprawling conglomerate to a company that sold it five years ago .
Hutchison Optel Telecom Technology Co. Ltd. or Hutchison Optel appears on a list of 103 companies with alleged links to the military in China or Russia. The US government has introduced a new designation as “military end-user” which requires US exporters to obtain licenses before they can sell their equipment to the companies on the list.
CK Hutchison said it sold all of its stake in Hutchison Optel in 2015 and “no longer owns or has any relationship with the company”. In fact, Hutchison Optel has already changed its name to Chinese, which translates to: Chongqing Optel Telecom Technology Co.
CK Hutchison is a Hong Kong listed conglomerate with core businesses in ports, retail, infrastructure, energy and telecommunications. CK Hutchison and CK Asset are the flagship companies of the business empire founded by Li Ka-shing, whose net worth is currently estimated at $ 33.2 billion. When Li retired as chairman in May 2018, older son Victor took over the helm of both companies.