Hutchison Whampoa
From Wikipedia, the free encyclopedia
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| Type | Public |
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| Founded | 1863 |
| Headquarters | Hong Kong |
| Key people | Sir Li Ka-shing, Canning Fok |
| Industry | Conglomerate |
| Products | Ports, Telecommunications, Retail, property |
| Owner(s) | Cheung Kong Holdings |
| Employees | 230,000 |
| Website | www.hutchison-whampoa.com |
Hutchison Whampoa Limited or HWL (traditional Chinese: 和記黃埔有限公司, SEHK: 0013,OTCBB: HUWHY) of Hong Kong 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 belongs to the Cheung Kong Group.
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[edit] History
Hutchison Whampoa was originally two companies founded in 19th century,namely Hong Kong and Whampoa Dock, established in 1863 by British merchant John Duflon Hutchison, and Hutchison International in 1877.[1] Hutchison International, under Colonel Sir Douglas Clague (1917-1981), gained controlling interest of Hong Kong and Whampoa Dock in the 1960s.[2].
In 1977, Hutchison acquired all stakes of Hong Kong and Whampoa Dock and became Hutchison Whampoa Limited.
Although Hutchison had a portfolio of valuable real estate interests in docks and retail ventures, the company ran into trouble, and had to be rescued by The Hongkong and Shanghai Banking Corporation. The bank took a 22% stake in the company, and had Clague replaced.[3]
On 25 September 1979, at the close of trade in London, the Bank announced it was selling its stake in Hutchison to Cheung Kong for HK$639 million.[3]
[edit] Criticisms
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'[4] and are concerned about the role foreign investment plays in 'perpetuating' the country's brutal regime.[5] However, there are also views that boycotts may not be effective and the people of Burma deserve the support and assistance to get back on their feet. [6]
[edit] Company
HWL currently operates in 54 countries and employs around 230,000 staff worldwide. The company has five core businesses:
- Ports and Related Services
- Property and Hotels
- Retail
- Energy, Infrastructure, Investments and Others
- Telecommunications
[edit] Industries
HWL operates in businesses related to:
- Ports and Related Services: Hutchison Port Holdings (HPH) is the world's leading port investor, developer and operator that operates across Europe, the Americas, Asia, the Middle East and Africa. It operates in five of the seven busiest container ports in the world, handling 13% of the world’s container traffic.
- The final negotiaton and signature of the Panama Canal Treaties was done by President Jimmy Carter in September 1977, and provided that as from 12 p.m. on 1 January 2000, Panama would assume full control of canal operations and become primarily responsible for its defense.[7] Today, the Autoridad del Canal de Panamá (Panama Canal Authority) is responsible for the operation and management of the canal. Hutchison Whampoa operates container terminals in Panama, as it does in Mexico and other parts of the Americas.
- Property and Hotels: From landmark office buildings in Hong Kong, Beijing, Shanghai, to luxury residential properties in the United Kingdom, Hutchison Whampoa Properties Limited develops and invests in leading real estate. Together with Cheung Kong Holdings, HWL has set up a joint-venture company, Harbour Plaza Hotel Management (International) Limited to operate and manage hotels under the portfolio of the Hutchison Property division.
- Retail: A.S. Watson & Co., Limited (ASW), HWL's retail arm, operates its flagship retail chains in Asia such as Watson's, PARKnSHOP supermarket, TASTE food galleria, GOURMET boutique style fine food hall, GREAT Food Hall, Fortress electrical appliances store, Watson's Wine Cellar and Nuance-Watson duty free operator. In Europe, ASW's retail network comprises health and beauty chains: DC, Drogas, Kruidvat, Rossmann, Savers, Superdrug, Trekpleister, Spektr and Watson's, as well as luxury perfumeries and cosmetics retail brands: Marionnaud, ICI PARIS XL and The Perfume Shop. A.S. Watson is the world's largest health and beauty retailer.
- Energy, Infrastructure, Investments and Others: Cheung Kong Infrastructure (CKI), HWL’s infrastructure arm, is a diversified infrastructure company with businesses in transportation, energy, infrastructure materials, water plants and related operations. HWL has an interest in Hongkong Electric Holdings (HEH), the sole electricity supplier to Hong Kong Island and Lamma Island. Hutchison is also a major shareholder of Husky Energy, one of Canada's largest energy and energy related companies.
- Telecommunications: HWL is a pioneer of mobile multimedia communications with the launch of third-generation (3G) mobile phone networks under the "3" brand. It also owns 60.4%[8] of Hutchison Telecommunications International Limited (HTIL), which provides mobile phone networks and data services in Asia, the Middle East and Africa. Another percent of HTIL is owned directly by Cheung Kong Holdings, the holding behind Cheung Kong group to which HWL belongs to. Additionally, HWL is an official backer of the .mobi top level domain created specifically for the mobile internet and has launched the mobile portal Three.mobi under its "3" brand.[9][10]
- Phone manufacturing: Hutchinson Whampoa has recently (as of 2008) set up a subsidiary, INQ to manufacture mobile phones.INQ recently won "Phone of the Year" at the GSMA Awards in Barcelona.
[edit] See also
- List of companies in Hong Kong
- Swire Group
- Jardine Matheson Group
- List of charities in the People's Republic of China
[edit] References
- ^ Hutchison-Whampoa: Milestones 1828-1959
- ^ Hutchison-Whampoa: Milestones 1960-1969
- ^ a b Stephen Vines, The Other Handover, Time magazine, 6 August 2005
- ^ http://www.burmacampaign.org.uk/dirty_list/dirty_list_details.html#h
- ^ http://www.burmacampaign.org.uk/dirty_list/dirty_list_briefing.html
- ^ http://www.voicesforburma.org/aboutus/ourview
- ^ End of an era at Panama Canal, BBC News, 14 December, 1999
- ^ http://www.irasia.com/listco/hk/hutchison/interim/ir45813-e_hwl0013ir.pdf
- ^ dotMobi Investors | dotMobi
- ^ three - 3 the company
[edit] External links
- Hutchison Whampoa
- Hutchison Whampoa Limited Company Profile Yahoo! Finance
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