Misplaced Pages

#446553

30-450: The 26-storey building was owned by Hutchison Whampoa , who licensed Hilton Hotels Group to operate it for 50 years. The 750-room hotel opened in 1963 and was one of the most prestigious in the colony, a favorite of tourists and dignitaries alike. The Hong Kong Hilton was the first hotel in the world to introduce the minibar in all of its hotel rooms in 1974. In the months following its introduction in-room drink sales increased 500%, and

60-920: A joint-venture company, Harbour Plaza Hotel Management to operate and manage hotels under the portfolio of the Hutchison Property division. A.S. Watson Group (ASW), HWL's retail arm, operates its flagship retail chains in Asia such as Watsons , 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 Health & Beauty , Superdrug , Trekpleister  [ fr ; nl ] , Spektr and Watson's , as well as luxury perfumeries and cosmetics retail brands: Marionnaud, ICI Paris XL and The Perfume Shop . A.S. Watson

90-477: A meeting in 188_ of the Executive Council to discuss land reclamation, Bendyshe Layton suggested to Sir Catchick Paul Chater that Hong Kong acquire an electricity generator. Chater, who was to remain a director of the new Hongkong Electric Company for 37 years, took charge of raising finance for the project. The total capital of $ 300,000 was divided into 30,000 shares, half of which were offered to

120-719: A mobile phone service, was launched, which became a major player in telecommunications in the 1990s. By 2004, Li's equity in Hutchison Whampoa had gradually increased to 49.9%. 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. In January 2015, Li Ka-shing entered into talks with Telefónica to buy its British mobile division, O2 , for around $ 15.4 billion, but

150-454: A multi-storey commercial office complex and headquarters for Li Ka-shing 's flagship holding company, Cheung Kong Holdings . The Hong Kong Hilton had a staff of 850. Its employees were given an average of nine months' salary as part of their redundancy packages. Moreover, Hutchison also placed over 60% of its staff in the new Harbour Plaza Hotel in Hung Hom . Hilton Hotels still maintains

180-568: A presence on Hong Kong Island, with the Conrad at Pacific Place in Admiralty. 22°16′47″N 114°09′38″E  /  22.27978°N 114.16050°E  / 22.27978; 114.16050 Hutchison Whampoa Hutchison Whampoa Limited ( HWL ) was an investment holding company based in Hong Kong. It was a Fortune Global 500 company and one of the largest companies listed on

210-482: A restructured Hutchison Whampoa to another British firm. The bank instead sold off the company on generous terms to Li Ka-shing . On 25 September 1979, at the close of trade in London , HSBC announced that it was selling its 23% stake in Hutchison Whampoa to Cheung Kong Holdings for HK$ 639 million. During the 1980s, Hutchison Whampoa bought 33% of Hong Kong Electric Holdings . In 1985, Hutchison Telecommunications ,

240-481: A restructuring in January 1985 whereby it was forced to sell its stake in the company for HK$ 3 billion to reduce debt levels. The company is now controlled by Li Ka-shing 's Cheung Kong Holdings as part of listed company Power Assets Holdings Limited , which before February 2011 was known as "Hongkong Electric Holdings Limited". Sources of electricity generated by Hongkong Electric in 2021 Lamma Power Station

270-460: Is a 3,736 megawatts (5,010,000 hp) either ( coal -fired, or combined cycle when used alongside natural gas ). Built in 1982 as a 250-megawatt (340,000 hp) coal-fired station, it was upgraded to 600 megawatts (800,000 hp) in 1987 and to 1,350 megawatts (1,810,000 hp) by 1989. Lamma Winds operates a Nordex standard N50 800-kilowatt (1,100 hp) wind turbine with a rotor diameter of 50 metres (160 ft). Completed in 2006,

300-473: Is one of Hong Kong 's two main electricity generation companies, the other being China Light & Power . The company is owned by several companies including Power Assets Holdings , State Grid Corporation of China , Cheung Kong Infrastructure Holdings and Qatar Investment Authority . It was the first company to provide electricity in Hong Kong , having run continually since the 19th century. Following

330-398: Is the world's largest health and beauty retailer. 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 was a major shareholder of Husky Energy , one of Canada's largest energy and energy related companies, holding 33.97%. HWL owned

SECTION 10

#1732771974447

360-660: The Cayman Islands , rather than Hong Kong. In May 2015, Hutchison revealed plans to sell one-third of its stake in its British-based mobile phone businesses for a potential fee of $ 4.3 billion to five investors including GIC Private Limited , Canada Pension Plan Investment Board , Abu Dhabi Investment Authority , BTG Pactual and Caisse de dépôt et placement du Québec . HWL operated in 54 countries and employed around 230,000 staff worldwide. The company had six core businesses, most of which transferred to CK Hutchison: Hutchison Port Holdings (HPH) operates across Europe,

390-476: The Hong Kong Stock Exchange . HWL was an international corporation with a diverse array of holdings which included the world's biggest port, and telecommunication operations in 14 countries that were run under the 3 brand. Its businesses also included retail, property development, and infrastructure. In 2015, the company merged with Cheung Kong Group as part of a major reorganisation of

420-777: The Peak Tram and the University of Hong Kong which had formerly generated their own supplies, switched to the company's supply. In 1924 there were 1,369 street lamps lit by gas with only 469 powered by electricity. However, by 1936, few gas lamps remained. During the Japanese invasion of Hong Kong in December 1941, a number of staff at the North Point power plant held the Japanese at bay in an epic defence. Casualties from

450-504: The " 3 " brand. It also owns 60.4% of Hutchison Asia Telecommunications (HAT), which provides mobile phone networks and data services in Asia. The company's subsidiary 3 Group Europe owns its '3' branded businesses in Europe. Another 1% of HAT is owned directly by Cheung Kong Holdings , the holding behind Cheung Kong group to which HWL belongs. Additionally, HWL is an official backer of the .mobi top level domain created specifically for

480-742: 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. From office buildings in Hong Kong, Beijing, Shanghai, to luxury residential properties in the United Kingdom, Hutchison Whampoa Property develops and invests in real estate. Together with Cheung Kong Holdings , HWL has set up

510-541: The Hong Kong Hilton's overall annual revenue was boosted by 5%. This led the Hilton group to roll out the minibar concept across all its hotels the following year. In January 1994, with about 20 years of the management contract to run, Hutchison announced the buyout of the remaining term for US$ 125 million. The hotel subsequently closed its doors on 1   May 1995, the landmark was to be torn down and rebuilt as

540-541: The battle included the plant's manager Vincent Sorby, who died in a prison camp of wounds received during the attack. A second power plant was built in North Point in 1919 and a third at Ap Lei Chau in 1968 which was decommissioned in 1989. Since 1990, all HEC's electric generators have been situated at the Lamma Power Station . Hongkong Land (HKL), which owned a 34% stake in the company, underwent

570-571: The colonial architecture style, it was later demolished and is now the site of Art Deco residential flats at 31, Wing Fung Street . The North Point Power Stations were a series of power stations built between 1919 and 1966. The site is now home to the City Garden residential flats and Maxim Mall. Opened in 1968, the Ap Lei Chau Power Station was a 750 megawatts (1,010,000 hp) oil-fired generating station. The plant

600-469: The commercial front, a substation was built in 1898 to service the lifts of the new tall buildings mushrooming along the waterfront. By 1905 the company was supplying power for 15 lifts, thousands of lamps as well as for street lighting. The power grid was extended underground to West Point then later to Victoria Peak and Shau Kei Wan . By 1916, Aberdeen and Ap Lei Chau were also connected. One by one large organisations like Dairy farm , Taikoo Docks ,

630-408: The company, though it was later taken over by the bank. HSBC took a 22% stake in the company and replaced Clague. In 1977, Hutchison Whampoa Limited was formed as a result of merger between Hutchison International Limited and Hong Kong and Whampoa Dock Company Limited. A year later Hutchison Whampoa was listed on the stock exchange. In 1979, Michael Sandberg convinced G. M. Sayer to not hand over

SECTION 20

#1732771974447

660-520: The deal was blocked in 2016 by the EU's Competition Commissioner . In January 2015, Li Ka-shing confirmed plans for Cheung Kong Holdings to purchase the remaining shares in Hutchison Whampoa that it did not already own, and merge the two companies as CK Hutchison Holdings. The merger is part of a larger reorganisation of Li's businesses, which will involve the spin-off of property assets into Cheung Kong Property. The new holding company has been incorporated in

690-443: The group's businesses. The combined business was renamed CK Hutchison Holdings . Hutchison Whampoa originated as two separate companies, both founded in the 19th century. Hong Kong and Whampoa Dock was formed in 1863 by John Couper, as a port management company. Hutchison International, a wholesale trading company and importer of consumer products, was founded in 1877 by John Duflon Hutchison. In 1965, Hutchison International under

720-543: The leadership of Sir Douglas Clague gained a controlling interest of Hong Kong and Whampoa Dock . He pursued an aggressive path of diversification, acquiring A.S. Watson , Davie, Boag and Co. Ltd., Hong Kong and Whampoa Dock Co. Ltd. , and China Provident Co. Ltd. A decade later, however, the conglomerate reported losses of HK$ 130 million and became unable to service its growing debt. In 1975, Clague lost control of Hutchison Whampoa due to disastrous speculation on foreign currency and stock markets. HSBC refused to bail out

750-471: 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" and are concerned about the role foreign investment plays in "perpetuating" the country's brutal regime. Hongkong Electric Company The Hongkong Electric Company ( HEC ; Chinese : 香港電燈有限公司 )

780-641: The mobile internet and has launched the mobile portal Three.mobi under its "3" brand. Hutchison Whampoa attempted to purchase O2 for £10.25 billion in March 2015, but the European Commission blocked the acquisition in May 2016. 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

810-494: The plant's annual output is forecast at 620,000 kilowatt-hours (2,200,000 MJ). Tariff for residential clients Tariff for non-residential clients Most of the older power stations were closed as residential development began to surround them. As HEC was owned by a land developer, these properties were in turn re-developed into housing estates. Wan Chai Power station was a 50 kilowatts (67 hp) coal-fired power station opened in 1890 and decommissioned in 1922. Built in

840-477: The public. As a result, the first power station in Hong Kong was secretly built on the site of an old graveyard in Star Street , Wan Chai . The plant was designed by electrical engineer William Wickham who subsequently remained its manager until 1910. At 6:00 p.m. on 1 December 1890, 50 street lights along Queen's Road Central , Battery Path and Upper Albert Road were switched on. The lights failed on

870-438: The second night then again one week later. Thereafter there were no further faults for 26 years. Street lighting was later extended west as far as Bonham Strand and Caine Road then later along Queens Road East and Wanchai Road to Mission Hospital Hill (site of the present Ruttonjee Hospital ). In the 1890s, as electricity became popular, the first private houses were connected to the company's supply to power lights and fans. On

900-705: The turbine is of stall-regulated, "horizontal axis" design and is mounted up-wind. In July 2010, the company commissioned the largest commercial-scale solar power system in Hong Kong. Based on amorphous silicon thin film photovoltaic (TFPV) technology, the requisite solar panels are located on the rooftops of the main building of Lamma Power Station. Power generated is fed directly to Hong Kong Electric's 380 V electrical grid via solar inverters , distribution boards and power transmission cables. All panels are set to face south to maximise power output and are inclined at an angle of 22 degrees. With an installed capacity of 550 kilowatts (740 hp), on completion in 2011

#446553