CEF Holdings Ltd. is owned 50% by Cheung Kong Holdings, the HK listed flagship company of Mr Li Ka-shing (Asia’s richest man), and 50% by Canadian Imperial Bank of Commerce, one of Canada’s largest banks. CEF was originally established in 1974 and Mr Li was CEF’s founding Chairman and CEO. CEF was originally established with a banking license in HK and it developed into a diversified financial services company over its first 30 years with operations in banking, life insurance, stock brokerage, futures and merchant banking. Since 2000, CEF has gradually divested all of these businesses and has become a cash rich holding company. Warren Gilman was a Board member of CEF during this divestiture period. Under the direction of Warren Gilman, the Chairman and CEO, CEF has refocussed its business strategy on the resource sector and is investing its cash in resource development opportunities including mining, fertilizer and forest products. These investments are focused on both public and private companies and in both equity and structured debt facilities.