SEA Holdings/ SEA Group

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S E A Holdings Limited
SEA group logo.jpg
Type Public Listed Company (Stock Code:0251)
Founded 1956
Founder Mr. Lu Chu Mang
Key People

Chairman:

Mr. Lu Wing Chi, Jesse

Chief Executive:

Mr. Lambert Lu
Headquarter Hong Kong
Industry Property
Website http://www.seagroup.com.hk/

SEA Holdings Limited (Stock Code:0251[1]) is listed on the Hong Kong Stock Exchange. The Group’s core business is property investment and development[2], as well as hotel operation, with diversified business over Hong Kong, United Kingdom, Australia and other countries.[3]

Background[edit]

Shouson Hill Road East
No. 1 Shouson Hill Road East

SEA Group was founded in Hong Kong in 1956, which went public in 1973. In 1989, S E A Holdings Limited, a company incorporated in Bermuda, became the listed and holding company of the Group. The Group has since become an international property conglomerate with diversified businesses over Hong Kong, United Kingdom, Australia and other countries. The Group comprises a publicly-listed company in Hong Kong, SEA Holdings Limited (Stock Code: 251), listed on the Stock Exchange.

Group members[edit]

The Group comprises a publicly-listed company in Hong Kong:

  • S E A Holdings Limited (Stock code: 251) listed on the Hong Kong Stock Exchange

Core business[edit]

The Group's core business include investment holding, property investment and development, hotel operation as well as asset management.

Corporate milestones[edit]

2010s

2017
  • SEA Group consortium won tender for West Kowloon Waterfront residential site at record breaking price of HK$17.288 Billion
  • The Group acquired Bank of Scotland’s Headquarter in London at approximately HK$2.6 Billion.[4]
  • Mr. Lambert Lu was appointed as Chief Executive of the Group.[5]
  • The Group unlocked value to shareholders through distribution of special cash dividend and restructuring of AGP.
  • The Group acquired Shouson Hill Properties at approximately HK$1.528 Billion.[6]
  • The Group first issues principal amount of USD 200,000,000 notes with 3-year maturity. The Notes Issue draws overwhelming market response with nearly 8 times oversubscription (with nearly USD 1.6 billion in orders).
2016
  • SEA Group celebrated the 60th anniversary of its establishment.
  • The Group acquired the Headquarter of United Kingdom Prudential Regulation Authority at approximately HK$1.5 Billion.[7]
  • The Group disposed of the property development project, Chengdu Nova City, at a consideration of HK$0.89 billion.[8]
  • The Group disposed of Huangshan Project in Mainland China.
  • The Group disposed of Dah Sing Financial Center to China Everbright Group (a Fortune Global 500 company) and China Everbright Limited (stock code: 165) made a record-setting transaction for high quality offices with a significant consideration of HK$10.125 billion.[9]
  • The Group disposed of the mixed-used project, Kaifeng Nova City, at a consideration of HK$0.9 billion.[10]
2015
2013
  • Kaifeng Nova City’s pre-sale program was launched.[12]
  • The Group acquired the remaining interest of Lizard Island Resort Hotel, Australia held by the other shareholder.
  • The Group disposed:
    • the commercial podium, all public car parking spaces and all the remaining residential units of The Forest Hills in Hong Kong; and
    • the 50%-owned Leiyang project in Mainland China and the Christchurch project in New Zealand
2012
  • The Group disposed the remaining block of Kaikainui Block in New Zealand.
2011
  • The Group bought an additional piece of land in Longquanyi District, Chengdu, Sichuan Province, China. Together with the two land lots purchased last year, the total site area increases to 506,000 square metres. They will be developed into a large-scale residential and commercial project.
  • The Group disposed part of Kaikainui Block, Favona Land and whole of Man Street Carpark in New Zealand.
2010
  • The Group’s large-scale residential and retail development project at Fo Tan, Hong Kong was approved by the Appeal Committee of Town Planning Board.
  • Two pieces of land with a total site area of about 288,000 square metres were acquired in Longquanyi District, Chengdu, Sichuan Province, China and will be developed into a large-scale residential and commercial project.
  • The Group acquired certain pieces of land in Kaifeng, Henan Province, China with a total site area of 735,000 square metres and it is proposed to be developed into an comprehensive project with large-scale luxury residential and commercial buildings and hotels.
  • The first batch of units for Phase 1 of The Redbud City, located in Leiyang City, Hunan Province, China was completed and delivered.

2000s

2009
  • The grand opening of the Group's 5-star hotel Crowne Plaza Hong Kong Causeway Bay.
  • The Group disposed of many investment properties (including 28 floor, No.9 Queen's Road, Central and G/F-2/F and signage space of the Morrison and the shop of Excelsior Plaza) and changed its investment proportion and focused on property development in Mainland China.
  • The Group completed the land acquisition in famous scenic district in Huangshan City, Anhui Province for development project with leisure and tourist facilities.
  • Pre-sale of Phase 1 of The Redbud City, located in Leiyang City, Hunan Province was launched.
2008
  • The Group sold part of its shares in two Indonesian subsidiaries with assets consisting mainly of interests in various pieces of land situated in Indonesia.
  • The Group's Wan Chai residential project, The Morrison and the Diamond Hill residential project, The Forest Hills were ready for move-in.[13][14]
2007
  • The sales of The Morrison in Wan Chai and The Forest Hills in Diamond Hill were launched with very encouraging results.
  • Westmin Plaza (Phase 2), in Guangzhou, Guangdong Province, which includes residential units, office units and shopping mall, was completed.
  • The Group privatised Trans Tasman Properties Limited by acquiring all remaining shares not owned by SEA Group.
  • SEA Group disposed of its shares in UniMilo Knitwear Company Limited and concentrated on property business.
2006
  • SEA Group celebrated the 50th anniversary of its establishment.
  • SEA Group’s subsidiary Asian Growth Properties Limited (AGP) was listed on Alternative Investment Market (AIM) of London Stock Exchange. It acquired properties of HK$6.5 billion in Hong Kong and Mainland China from the Group through issuing of new shares.
  • Asian Growth Properties Limited (AGP) acquired certain properties from the Group and was re-admitted to Alternative Investment Market (AIM) with a market capitalization of £323.5M (~HK$5.5B), ranked No. 19 of all AIM companies and No. 1 of AIM property companies focusing on China.
  • Pre-sale of Westmin Plaza (Phase 2), in Guangzhou, Guangdong Province, was well-received again with all units sold within 2 weeks.
2005
  • Royal Green, a residential project developed jointly with Henderson Land Development Company Limited launched sale with very enthusiastic response.
  • Plaza Central, an office & commercial property located in Chengdu, Sichuan Province was completed, and became a landmark in the city.
  • Trans Tasman Properties Limited moved its head office to Singapore while remaining listed on the New Zealand Stock Exchange.
  • The Group developed the new head office of Air New Zealand in Auckland.
2003
  • Mr. Jesse Lu became the Chairman of the Group.[15]
  • New Century Plaza, located in Chengdu, Sichuan Province, was completed.
  • Trans Tasman Properties Limited privatized its listed Australian property subsidiary Australian Growth Properties Limited, and strategically restructured its investment portfolio in Australia and New Zealand and increased its investment in property market in Asia Pacific, including the sale of these properties when counter-cyclical property investment and development opportunities came and the purchase of a few development sites in Hong Kong.
  • 363 George Street, a premium grade asset in Sydney, Australia, was sold for A $397 million.
2002
  • The residential units of Westmin Plaza (Phase 1), in Guangzhou, Guangdong Province, was completed and ready for move-in.
2001
  • Pre-sale of Westmin Plaza (Phase 1), in Guangzhou, Guangdong Province, which was highly successful.
2000
  • 363 George Street, the Group’s flagship property in Sydney, Australia, was completed.

1990s

1999
  • The present Chief Executive Mr. Lambert Lu joined the Group.[5]
1998
  • The Group acquired 46.3% stake in the Global Property Fund, and later took over the management of the Fund.
1997
  • Trans Tasman Properties Limited spun off its Australian property arm, Australian Growth Properties Limited (AGPL) for a separate listing on the Australian Stock Exchange.
1995
  • SEABIL New Zealand Limited was merged with Tasman Properties Limited (formerly called Robt. Jones Investments Limited) to form Trans Tasman Properties Limited. TTPL continued to be listed on the New Zealand stock exchange, and became the flagship property investment arm of the Group in Australia and New Zealand.
1994
  • Listing of SEABIL New Zealand Limited (SEABIL) on the New Zealand Stock Exchange on 30 June.
1991
  • The Group acquired a controlling equity stake in Unison Knitting Factory Limited (HKSE code 272) and expanded into garment manufacturing and trading.
  • The office building at 108 Gloucester Road, Wanchai, Hong Kong, now known as Everbright Centre, was completed. It housed the headquarters of the SEA Group.
  • Construction of the joint development property Gardenview Heights at 19 Tai Hang Drive, Hong Kong was completed in 1991 and the residential units were quickly sold out.
  • The Group entered into property development projects and cement production business in Mainland China.
  • The Group formed joint venture with Brierley Investment Limited to form SEABIL Pacific Limited, a property investment company in New Zealand.
  • A joint venture was set up for property development in Jakarta, Indonesia.

1980s

1989
  • Relocated domicile to Bermuda with the incorporation of SEA Holdings Limited.
1988
  • Expanded into the international market and invested in Discovery, a property project in Vancouver, Canada.
1983
  • The Company acquired a number of prime land lots in Hong Kong and undertook a hotel development project.
1981
  • The Group completed the development of an up-market 33-storey residential building, Amber Garden on Kennedy Road, Wanchai, Hong Kong.

1970s

1974
  • The Company acquired a substantial equity stake of over 30% in the listed Safety Godown Company, Limited (stock code: 237) in 1974 for investment.
1973
  • The Company was listed on both the Far East and Kam Ngan Stock Exchanges in Hong Kong in October 1973.

1960s

1969
  • Mr. Jesse Lu, the present Chairman, joined the Company.
1960
  • The Company expanded into property developments which included commercial, industrial and residential. It also invested in warehousing and textile industries, specifically spinning and weaving.

1950s

1956
  • The Company was established in Hong Kong on 6 December 1956 with an initial capital of HK$1 million by Hong Kong entrepreneur Mr. Lu Chu Mang, his brothers and fellow Indonesian Chinese friends in Hong Kong. With its major business in property development, SEA was one of the pioneers in the development of the new industrial districts of Kwun Tong and San Po Kong.

Past developments[edit]

The Group has invested and developed over 200 residential, commercial and industrial projects in China, Hong Kong, United Kingdom, Canada, Australia, New Zealand, Japan,Indonesia and other countries. The main projects are shown as below:

Location Type Development
Hong Kong Residential (Ard 50 projects) Proposed Waterfront Residential Development at NKIL 6549, West Kowloon

Hilltop Villa, 59 Mount Kellett, 44 Stubbs Road, Amber Garden, Greenville Gardens, Gardenview Heights, Wiltshire Villa, Lu's Garden, Moonbeam Terrace, Royal Green, The Morrison and The Forest Hills, etc.

Office Wan Chai:108 Gloucester Road *(Everbright Centre), 80 Gloucester Road, China Underwriters Centre *(88 Gloucester Road, Wan Chai),

Central: Wellington Place and Chinese Bank Building, etc.

Hotel Crowne Plaza Hong Kong Causeway Bay, Metro Hotel *(Wharney Guang Dong Hotel)
United Kingdom Office 20 Moorgate, EC2R, 6DA, London and John Sinclair House, Edinburgh
China Residential Guangzhou Westmin Plaza and Guangzhou Lloyds Building
Mixed-use project Kaifeng Nova City, Chengdu Longquan Project, etc.
Office Chengdu Plaza Central, Chengdu New Century Plaza and Office Section – Guangzhou Westmin Plaza
Australia Office Sydney: 2 Barrack Street, 24 York Street, 363 George Street, 70 King Street, Antanaskovic Hartnell House

Melbourne: 601 Bourke Street and many others up to more than 10 office buildings.

Hotel Queensland Lizard Island Resort
New Zealand Residential Auckland: 180 Symonds Street, 28 Shortland Street, North Shore Club

Wellington: Terrace Chambers and many other residential projects.

Office (Ard 70 projects) Auckland: Citibank Centre, 105 Queen Street, 115 Queen Street, 132 Halsey Street, 355 Great South Road, Auckland Club Tower

Wellington: 85 The Terrace, Axon House, Barclays House, Hitachi Data Systems House, National Insurance Building, etc.

Hotel Christchurch Clearwater Resort
Japan Office Shinjuku Seishin Building
Canada Residential Vancouver Discovery Apartment
Indonesia Residential Jakarta The Discovery

References[edit]

  1. ^ "SEA Group Corporate Milestone". SEA Group. Retrieved 25 July 2017. 
  2. ^ "SEA Group About Us". Information about SEA Group. Retrieved 25 July 2017. 
  3. ^ "SEA group development". SEA Group Past Development. Retrieved 25 July 2017. 
  4. ^ "SEA Holdings (00251) to buy London property at HK$2.59bn". ET Net News Agency. Retrieved 16 May 2017. 
  5. ^ a b "Lu Lambert: Executive Profile & Biography". Bloomberg. Retrieved 25 July 2017. 
  6. ^ "Acquisition of Target Companies which own Shouson Hill Properties" (PDF). SEA Group News. Retrieved 4 May 2017. 
  7. ^ "SEA HOLDINGS Subsidiary Buys City of London Office Building with HK$1.491B". AAStocks Financial News. Retrieved 8 November 2016. 
  8. ^ "爪哇附屬沽成都東悅名城 套現8.9億". 東方即時新聞. Retrieved 22 August 2016. 
  9. ^ "Everbright Completes Acquisition of Dah Sing Financial Centre from SEA Group". CAN News Wire. Retrieved 24 May 2016. 
  10. ^ "爪哇控股9億售開封市商住項目". HKEJ. Retrieved 19 April 2016. 
  11. ^ "內房14億 購爪哇火炭項目 已批可建914伙住宅 估計補價約50億". Property Station. Retrieved 8 October 2015. 
  12. ^ "爪哇·东汇名城"国际综合体品牌发布会"圆满结束". 登峰樓市網. Retrieved 25 November 2013. 
  13. ^ "灣仔駿逸峰 滿室天然光". Apple Daily. Retrieved 22 January 2008. 
  14. ^ "黃大仙單幢樓滙豪山盡覽獅子山景". Apple Daily. Retrieved 27 April 2011. 
  15. ^ "Wing Chi Lu: Executive Profile & Biography". Bloomberg. Retrieved 25 July 2017. 

External links[edit]