New World China | |||||||||||||
Type | subsidiary (formerly listed) | ||||||||||||
SEHK: 917 (former) | |||||||||||||
Industry | Real estate | ||||||||||||
Predecessor | Division of New World Dev. | ||||||||||||
Founded | 28 August 1996 | ||||||||||||
Founder | New World Development | ||||||||||||
Headquarters |
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Area served | Mainland China | ||||||||||||
Key people | Henry Cheng (Chairman) | ||||||||||||
Brands | NWCL | ||||||||||||
Revenue | HK$ 17 billion (2014–15) | ||||||||||||
HK$ 3 billion (2014–15) | |||||||||||||
Total assets | HK$134 billion (2014–15) | ||||||||||||
Total equity | HK$ 61 billion (2014–15) | ||||||||||||
Owner | New World Dev. | ||||||||||||
Parent | New World Dev. | ||||||||||||
Subsidiaries |
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Chinese name | |||||||||||||
Traditional Chinese | 新世界中國地產有限公司 | ||||||||||||
Simplified Chinese | 新世界中国地产有限公司 | ||||||||||||
Jyutping | san1 sai3 gaai3 zung1 gwok3 dei6 caan2 jau5 haan6 gung1 si1 | ||||||||||||
Cantonese Yale | sān sai gaai jūng gwok deih cháan yáuh haahn gūng sī | ||||||||||||
Hanyu Pinyin | Xīnshìjiè zhōngguó dìchǎn yǒuxiàn gōngsī | ||||||||||||
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Website | www | ||||||||||||
Footnotes /references in consolidated financial statement; financial year ended on 30 June each year [1] |
New World China Land Limited is a wholly owned subsidiary of Hong Kong-based conglomerate New World Development, itself part of Chow Tai Fook group. New World China Land was spin off from New World Development in 1999 as a separate listed company. [2] However, it was privatized again by New World Development in 2016. [3] New World China Land is headquartered in 9/F, New World Tower 1, on 8 Queen's Road Central, Hong Kong Island.
New World China Limited is a company incorporated in the Cayman Islands as an exempted company, the legal name for the offshore company in that territory, on 28 August 1996. [4] : 57 The company was registered in Hong Kong as a "registered non-Hong Kong company" on 17 May 1999. [5] It became a listed company on 16 July 1999 as New World China Land Limited, [4] : 58 which owned the China part of the real estate division of New World Development (NWD Group), a blue-chip listed company of Hong Kong. New World China Land owned some hotels that was independent from another sub-holding company, New World Hotels (Holdings), a former listed company of NWD Group.
In 2011, New World China Land, via New World Hotel Management (BVI) Limited, trading as New World Hospitality, acquired the hotel management company Rosewood Hotels & Resorts for US$229.5 million (approx. HK$1.79 billion). [6] [7] In 2013, New World Hospitality (New World Hotel Group) was renamed to Rosewood Hotel Group. [8] [9]
In July 2015, New World China Land sold its hotel management business, New World Hotel Management (BVI) Limited and subsidiaries, to parent company Chow Tai Fook Enterprises for HK$1.96 billion. [10] [11] According to the press release, it included Rosewood and two other brands New World and penta. [10]
In December 2015, New World China Land sold three portfolios to fellow Chinese developer Evergrande Group, for RMB13.5 billion (HK$16.36 billion). [12] [13]
In 2016 New World China Land was privatized by New World Development.
After the privatization of New World China Land, its parent company New World Development continued to use the brand New World China in some project, such as New World China Land's Wuhan Chow Tai Fook Finance Centre. [14] Also, New World Development (China) Limited is a live subsidiary of the NWD group, which sold two hotels in 2017. [15] [16]
New World Development Company Limited (NWD), is a Hong Kong-based company focused on property, hotels, infrastructure and services and department stores. It was established on 29 May 1970 by Cheng Yu-tung. The company is publicly listed on the Stock Exchange of Hong Kong Limited since 23 November 1972 and is a constituent stock of Hong Kong Hang Seng Index.
Sun Ferry Services Company Limited, more widely known as Sun Ferry and formerly New World First Ferry Services, is a ferry service company in Hong Kong. The company was established in November 1999, when it took over the eight licensed ferry routes transferred from Hongkong and Yaumati Ferry in January 2000.
Cheng Yu-tung GBM was a Hong Kong billionaire with extensive property investment, development and service businesses, hotels, infrastructure, jewellery retailing and transportation interests in Hong Kong, Macau, United States, Australia and other areas. He was considered to be Hong Kong's third richest man at the time of his death.
Chow Tai Fook group is a Hong Kong–based, privately-owned conglomerate with holdings in the jewellery, property development, hotel, department store, transportation, energy, telecommunications, port, casino, and other businesses. Despite the holding companies of the group, namely Chow Tai Fook Capital Limited, Chow Tai Fook (Holding) Limited, Chow Tai Fook Enterprises Limited, etc. being privately owned, the group has been partially listed on the stock market via associate company New World Development and subsidiary Chow Tai Fook Jewellery Group Limited. As of 31 December 2018, New World Development was ranked as the 47th-largest company by market capitalization on the Stock Exchange of Hong Kong, which was HK$105.68061 billion.
Henderson Investment Limited, the subsidiary company of Henderson Land Development, involves the development, investment and leasing of the properties in Hong Kong and Mainland China. Other activities include operations and management of department stores, investment in infrastructure projects, provision of cleaning and security guard services, and other investment holdings.
Baha Mar is a 1,000-acre (400 ha) resort complex on the island of New Providence in The Bahamas. Owned by Hong Kong-based Chow Tai Fook Enterprises, the establishment opened in April 2017. The amenities include three hotels with a total of 2,200 rooms, 284 private residences, a 100,000-square-foot (9,300 m2) casino, a 30,000-square-foot (2,800 m2) spa, and a Tournament Players Club golf course designed by Jack Nicklaus.
Rosewood Hotels & Resorts is an international luxury hotel and resort company operating 28 hotels in 16 countries, currently owned by Hong Kong-based Rosewood Hotel Group. It was founded in Dallas, Texas, in 1979 by Caroline Rose Hunt, the daughter of oil tycoon H. L. Hunt. The company was sold by Rosewood Corp. and Maritz, Wolff & Co. in 2011 to New World Hospitality for $229 million, along with five of the properties that were sold for $570 million. Arranged by Perkins Coie, the $800 million deal was awarded “Merger & Acquisition of the Year 2011” by the Americas Lodging Investment Summit.
Alinta Energy is an Australian electricity generating and gas retailing private company owned by Hong Kong-based Chow Tai Fook Enterprises (CTFE). The sale for $4 billion was approved by Treasurer Scott Morrison in 2017. Alinta Energy has an owned and contracted generation portfolio of up to 1,957 MW, approximately 1.1 million combined electricity and gas retail customers and around 800 employees across Australia and New Zealand.
Luk Fook Holdings (International) Limited principally engages in the sourcing, designing, wholesaling, trademark licensing and retailing of a variety of gold and platinum jewellery and gem-set jewellery. They were listed on the Main Board of The Stock Exchange of Hong Kong Limited in May 1997, and the Group has tapped into the mid to high-end watch market in recent years.
Chow Sang Sang Holdings International Limited, or Chow Sang Sang Group, doing business as Chow Sang Sang jewelry Company Limited or Chow Sang Sang, is a jewelry company with its corporate headquarters in the Chow Sang Sang Building in Kowloon, Hong Kong. Its registered office is in the Clarendon House in Hamilton, Bermuda. and it is incorporated with limited liability in Bermuda. It is SEHK: 116 on the Hong Kong Stock Exchange.
Adrian Cheng Chi-kong is a Hong Kong entrepreneur and business executive. He is the CEO and executive vice-chairman of the Hong Kong-listed New World Development, and executive director of jewelry company Chow Tai Fook. He is also the founder of K11, which has a portfolio of commercial, cultural and residential projects. He is the son of property developer Henry Cheng and grandson of Cheng Yu-tung.
Far East Consortium International Limited (FEC) is a company with its head office in Central, Hong Kong. It was founded in 1950 by Deacon Chiu and listed on the Hong Kong Stock Exchange in 1972.
Penta Hotels is a hotel brand with 28 hotels with this name across Europe and Asia as of 2020.
Wuhan CTF Finance Center also known as Wuhan Chow Tai Fook Finance Centre is a supertall skyscraper under construction in Wuhan, Hubei, China. The tower was originally set to be China's tallest, surpassing Shanghai Tower when completed in 2026, but its height was later reduced to 475 meters.
Haitong International Securities Group Limited known as Haitong International is a stock brokerage firm and investment bank based in Hong Kong, it is the first market maker from China at Nasdaq.
Flont is a jewelry as a service company, founded in 2016, in partnership with over 40 brands. As a software developer and jewelry retailer, it enables high-touch sales via E-commerce, delivering jewelry to consumer on demand. Flont provides software and logistics services to global jewelry brands, department stores and jewelry retailers for their own sharing services. Its founder was former president of a joint venture with Cartier and Richemont.
Rosewood Hotel Group, also known for its former trading names New World Hotel Group, New World Hospitality and legal names New World Hotel Management (BVI) Limited, New World Hotel Management Limited is a Hong Kong-based multi-national hotel management group and the parent company of Rosewood Hotels & Resorts. The company is incorporated in the British Virgin Islands as an offshore company. As of 2016, Rosewood Hotel Group was owned by Chow Tai Fook Enterprises, having acquired Rosewood Hotel Group in 2015 from Chow Tai Fook Enterprises' listed associate company New World China Land for HK$1.96 billion.
New World Hotels (Holdings) Limited, formerly known as Kai Tak Land Investment Limited, is a former Hong Kong-listed company and currently a wholly owned subsidiary of New World Development.
Sonia Cheng Chi-Man is a Hong Kong business executive. She is the CEO of privately held Rosewood Hotel Group, executive director of the Hong Kong-listed New World Development (HKG:0017) and the vice-chairman of Chow Tai Fook Jewellery Group. She is also appointed as an independent non-executive director of The Hongkong and Shanghai Banking Corporation and an independent director of Primavera Capital Acquisition Corporation, a company listed on the New York Stock Exchange.. She is also a member of the Hong Kong Tourism Board. She is the daughter of Hong Kong property developer Henry Cheng and granddaughter of real estate and jewelry billionaire Cheng Yu-tung.
The Cheng Yu-tung Family refers to a wealthy Hong Kong-based family best known for controlling Chow Tai Fook, via which it also owns New World Development and Rosewood Hotel Group, among other businesses.