Li ka-shing, the "richest man" in both Hong Kong and the whole Asia, promised on Thursday to donate more money to a charity foundation named after him until the total assets of the foundation value at one third of his personal assets.

He said at a press conference for announcing interim results of Cheung Kong (Holdings) Limited that the three personal funds of the foundation are being used for charity purpose, adding his family and members of the board of the group are not allowed to take a penny from the foundation.

According to statistics for Forbes, Li's personal assets reaches HK$150 billion (US$19.23 billion). So the foundation is expected to receive about HK$50 billion (US$6.41 billion) from Li.

Li Ka-shing Foundation was established in 1980 to coordinate donations towards education, medical care, culture and other community welfare projects in Hong Kong and Chinese mainland.

Li once said that "to be able to contribute to society and to help those in need to build a better life, that is the ultimate meaning in life. I would gladly consider this to be my life work."

(Xinhua News Agency August 25, 2006)