| Type | Public SEHK: 0013, OTCBB: HUWHY) |
|---|---|
| Industry | Conglomerate |
| Founded | 1863 |
| Founder(s) | John Duflon Hutchison |
| Headquarters | Hong Kong |
| Key people | Sir Li Ka-shing, Canning Fok |
| Products | Ports, Telecommunications, Retail, property |
| Owner(s) | Cheung Kong Holdings |
| Employees | 230,000 |
| Website | www.hutchison-whampoa.com |
Hutchison Whampoa Limited or HWL (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 is 49.97% owned by the Cheung Kong Group.
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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]
On March 2011, Hutchison Port Holdings Trust (HPHT) announced that the company will IPO through Singapore Exchange for about $5.4 billion. It will be the largest offering in South East Asia and surpass Petronas Chemicals offering at about $4.1 billion.[4]
HWL currently operates in 54 countries and employs around 230,000 staff worldwide. The company has five core businesses:
HWL operates in businesses related to:
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'[8] and are concerned about the role foreign investment plays in 'perpetuating' the country's brutal regime.[9] 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.[10]
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