Ding shopped the firm around to investors, including a tech firm run by Li Ka-shing, but found no takers.

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Others who stand to benefit from a purchase include Waze investors Kleiner Perkins, billionaire Li Ka Shing, Blue Run Ventures, Magma Venture Partners and Vertex Venture Capital.

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But there is anger over the apparent greed of the development companies, controlled by Li Ka-shing, that run South Horizons.

ECONOMIST: Hong Kong