Hutchison Whampoa

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Hutchison Whampoa
和記黃埔
Type Public
Traded as SEHK0013
OTC Pink: HUWHY
Industry Conglomerate
Founded 1863
Founder(s) John Duflon Hutchison
Headquarters

Victoria, Hong Kong

Admiralty (near Central)
Key people Sir Li Ka-shing (Chairman)
Products Ports and related services; property and hotels; retail; energy; infrastructure; telecommunications, finance & investment
Revenue HK$ 389.50 billion (2011)
Net income HK$ 56.01 billion (2011)
Owner(s) Cheung Kong Holdings
Employees 253,983 (2011)
Website www.hutchison-whampoa.com

Hutchison Whampoa Limited (HWL, Chinese: 和記黃埔有限公司, Jyutping: wo4gei3wong4bou3 jau5haan6gung1si2) is an investment holding company based in Hong Kong. It is a Fortune 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL is an international corporation with a diverse array of holdings which includes the world's biggest port and telecommunication operations in 14 countries and run under the 3 brand. Its business also includes retail, property development and infrastructure. It is 49.97% owned by the Cheung Kong Group.

History[edit]

Originally Hutchison Whampoa was two separate companies, both founded in the 19th century. Hong Kong and Whampoa Dock was established in 1863, by British merchant John Duflon Hutchison, and Hutchison International was formed in 1877.[1]

In the 1960s, Hutchison International - under Colonel Sir Douglas Clague (1917–1981) - gained a controlling interest of Hong Kong and Whampoa Dock,[2] and in 1977 Hutchison acquired all of Hong Kong and Whampoa Dock, creating Hutchison Whampoa Limited.

Although Hutchison Whampoa had a large portfolio of valuable real estate interests, in docks and retail ventures, the company eventually ran into trouble. It was rescued by The Hongkong and Shanghai Banking Corporation, with HSBC taking a 22% stake in the company and ensuring that Clague was replaced.[3]

On 25 September 1979, at the close of trade in London, HSBC announced that it was selling its stake in Hutchison Whampoa to Cheung Kong for HK$639 million.[3]

In March 2011, Hutchison Port Holdings Trust (HPHT) announced that the company would IPO through Singapore Exchange for about US$5.4 billion. This would be the largest offering in South East Asia and surpass Petronas Chemicals offering of about $4.1 billion.[4]

Company[edit]

HWL currently operates in 54 countries and employs around 230,000 staff worldwide. The company has six core businesses:

  • Ports and Related Services
  • Property and Hotels
  • Retail
  • Energy, Infrastructure, Investments and Others
  • Telecommunications
  • Video Delivery Solutions

Industries[edit]

HWL operates in businesses related to:

Criticisms[edit]

Hutchison Whampoa has received criticism from charities such as the Burma Campaign UK and appear on the charity's 'dirty list' for their involvement in trade with the military junta in Burma. They state that the company's subsidiary Myanmar International Terminals Thilawa (MITT) is 'strategically positioned to facilitate and service Myanmar’s international trade'[9] and are concerned about the role foreign investment plays in 'perpetuating' the country's brutal regime.[10]

See also[edit]

References[edit]

External links[edit]