Cattaneo said he did not expect capex investments in the next business plan to be lower than those in the plan presented in January.

The company expects capex in the property investment business to taper off from the HKD6.4bn spent in 2011 given limited investment opportunities.

It now expects capex to reduce by at least 75 million pounds ($88.67 million) in 2020 to below 200 million pounds.