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Hutchison Whampoa Ltd

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Hutchison Whampoa Ltd

"HWL" redirects here. For other uses, see HWL (disambiguation).
Hutchison Whampoa
和記黃埔
Public
Traded as 0013
Industry Conglomerate
Founded 1863
Founder(s) John Duflon Hutchison
Headquarters

Admiralty (near Central)

Victoria, Hong Kong
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

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

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

HWL operates in businesses related to:

  • Ports and Related Services: Hutchison Port Holdings (HPH) 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. Hutchison Whampoa operates container terminals in Panama, as well as Mexico and other parts of the Americas.
  • Property and Hotels: From office buildings in Hong Kong, Beijing, Shanghai, to luxury residential properties in the United Kingdom, Hutchison Whampoa Properties Limited develops and invests in 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 owns the "
  • Video Encoding and Streaming: HWL owns Vidiator who provides multi-screen video delivery solutions to operators, broadcasters and other content providers since 2002
  • Phone manufacturing: In 2008 Hutchinson Whampoa established a subsidiary, INQ, to manufacture mobile phones. In 2009 the INQ1 won GSMA Awards in Barcelona.
  • Branding: WHAM based in London, is Hutchison Whampoa's branding agency. Controlling the branding for Superdrug, Hutchison 3G, Watson's (Your Personal Store), and ICI Paris XL.[8]

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'[9] and are concerned about the role foreign investment plays in 'perpetuating' the country's brutal regime.[10]

See also

References

External links

  • Hutchison Whampoa (English) (Chinese)
  • Hutchison Whampoa Limited Company Profile Yahoo! Finance
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