Li Ka-shing’s son among tycoons seeking cheap assets after rout

Li Ka-Shing, senior adviser of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd., waves towards members of the media as Victor Li, chairman, stands ahead of the companies annual dinner event in Hong Kong, China, on Friday, Jan. 10, 2020. Hong Kong has a history of bouncing back from adversity and will overcome the current unrest, said tycoon Victor Li. Photographer: Justin Chin/Bloomberg

ASIAN tycoons are looking to snap up assets pummeled by the deadly coronavirus at bargain prices, but they are also facing hurdles as more governments seek to deter foreign takeovers of local firms.

Over the past three months, top executives of companies based in mainland China, Hong Kong and Singapore have told investors that they are looking for acquisitions. They include Victor Li, who took over Hong Kong’s CK group from his father Li Ka-shing two years ago, and billionaire Guo Guangchang, the founder of the acquisitive Chinese conglomerate, Fosun Group.