Wheelock Properties

Last updated
Wheelock Properties Limited
Formerly
  • Hongkong Realty and Trust Co., Ltd.
  • New Asia Realty and Trust Co., Ltd.
Company type subsidiary
SEHK:49(former A share code)
SEHK:153(former B share code)
IndustryReal estate development
Founded1923 (as Hongkong Realty and Trust)
SuccessorWheelock Properties (Hong Kong) Limited
Headquarters
Central
,
Hong Kong
Area served
Hong Kong
Key people
 Douglas Woo (Managing Director) [1]
Owner Wheelock and Co.
Parent Wheelock and Co.
Chinese name
Traditional Chinese 會德豐地產有限公司
Transcriptions

Wheelock Properties engages in the property development and investment operations in Hong Kong. It participated in a number of private housing estates including Bellagio, [4] Sorrento,[ citation needed ] Parc Oasis (via the subsidiary RDC) [5] and Parc Palais and owns certain investment properties including Fitfort. [6]

Before the privatization of Wheelock Properties, the company owned the 76% shares in Singapore-listed Wheelock Properties (Singapore). [7] : 7  Both companies are privatized.

History

The predecessor of the business unit, Hongkong Realty and Trust Co., Ltd., was incorporated on 17 March 1923. It was renamed to New Asia Realty and Trust Co., Ltd. in 1995. In the same year 新亞置業信託有限公司 was added as a registered Chinese name.

Hongkong Realty and Trust was a listed company since at least circa 1935. [8] It was reported that circa 1948, Hongkong Realty is majority owned by Marden and Co. already, [9] which the latter is the predecessor of the current Wheelock and Co. Marden-Wheelock was owned by Marden family until the 1980s., which it was takeover by Hong Kong ethnic Chinese business magnate Yue-Kong Pao, the maternal grandfather of the current (as of 2020) Wheelock Properties Managing Director, Douglas Woo.

As a listed subsidiary of the conglomerate Wheelock and Co., New Asia Realty takeover its own listed subsidiary Realty Development Corporation (RDC) in 2002. [10] [11] Both New Asia Realty and RDC also issued class B ordinary share until they were exchanged into class A ordinary shares in 2000. [12]

The listed company was renamed from New Asia to Wheelock Properties Limited (Chinese :會德豐地產有限公司) in 2004. [13]

Wheelock Properties was privatized by its parent company Wheelock and Co. in 2010. [14] [15] At the time of privatization, Wheelock House in Hong Kong and Wheelock Place in Singapore are the main investment properties of the business unit. [7] : 8 

After the privatisation, the business unit also do business via another legal person Wheelock Properties (Hong Kong) Limited. In 2016, sister company The Wharf (Holdings) (also majority-owned by Wheelock and Co.) bought a large portion of Wheelock House from the parent company Wheelock & Co. as well as from the chairman Peter Woo and his wife. [16] However, soon after the floor area of Wheelock House was injected to another sister company Wharf Real Estate Investment Company.

The parent company of the business unit, Wheelock and Co., remained as a listed company until 2020. [2]

Related Research Articles

<span class="mw-page-title-main">Cheung Kong Holdings</span> Hong Kong conglomerate

Cheung Kong (Holdings) Limited, is a multinational conglomerate, based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015, as part of a major reorganisation, to become part of CK Hutchison Holdings.

The Cross-Harbour (Holdings) Limited (CHHL), formerly the Cross-Harbour Tunnel Company, is a Hong Kong investment holding company with emphasis on transport infrastructures.

<span class="mw-page-title-main">The Wharf (Holdings)</span> Company in Hong Kong

The Wharf (Holdings) Limited, or Wharf (九倉) in short, is a company founded in 1886 in Hong Kong. As its name suggests, the company's original business was in running wharfage and dockside warehousing, and it was originally known as The Hong Kong and Kowloon Wharf and Godown Company, Limited and founded by Sir Paul Chater. The company adopted its current name in 1986. The current major holder of the company is Wheelock & Co.

<span class="mw-page-title-main">The Hong Kong and China Gas Company</span>

The Hong Kong and China Gas Company Limited, trading as Towngas, is the sole provider of territory-wide town gas in Hong Kong. Founded in 1862, it is one of the oldest listed companies in the territory.

<span class="mw-page-title-main">Chow Tai Fook</span> Hong Kong–based privately owned conglomerate

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.

Sir Yue-Kong Pao CBE JP, was the founder of Hong Kong's Worldwide Shipping Group which in the 20 years from purchasing its first used ship in 1955 became by far the largest shipping company in the world with over 20 million tonnes deadweight (DWT). Anticipating the seriousness of the shipping downturn starting in the late 1970s, he drastically reduced his fleet. He was therefore able to pay off associated debt and raise cash to diversify his interests, notably through the purchase of a controlling stake in The Hongkong and Kowloon Wharf and Godown Company Limited and later Wheelock Marden, giving exposure to Hong Kong real estate, shipping terminals, retail, ferries, and trams. He was noted for his unmatched access to leaders in both the commercial and political arenas and was equally at ease with Western political leaders and the Chinese leadership in the run-up to Hong Kong's handover to China on 1 July 1997. He was also a generous philanthropist notably in educational projects. After his death in 1991 his corporate legacy was continued by his family.

A hong was a type of Chinese merchant establishment and its associated type of building. Hongs arose in Guangzhou as intermediaries between Western and Chinese merchants during the 18–19th century, under the Canton System.

<span class="mw-page-title-main">Centamap</span>

Centamap is a free web map service that displays maps of Hong Kong, launched in 1999. It obtains licensed map data from the Survey and Mapping Office of the Hong Kong Government.

<span class="mw-page-title-main">Wheelock and Company</span> Company

Wheelock and Company Limited is a Hong Kong–based financial real estate company. It was listed as No. 1249 on the Forbes 2000 list.

China Aerospace International Holdings Limited is a Hong Kong incorporated holding company. The company itself is a subsidiary of China Aerospace Science and Technology Corporation and a listed company on the Stock Exchange of Hong Kong. It is a red chip company, but not part of the "red chip index" of the stock exchange.

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.

Orient Overseas (International) Limited (OOIL) is a Hong Kong, China based investment holding company involved in international transportation and logistics, and property investment and property development. It is the parent company of Orient Overseas Container Line (OOCL), one of the world's largest container shipping companies.

Wharf Estates Singapore Pte. Ltd., formerly Marco Polo Developments Limited, Wheelock Properties (Singapore) Limited and Wheelock Properties (Singapore) Pte. Ltd., engages in property development and investment in Singapore. It is a subsidiary of Wharf Real Estate Investment Company, itself a listed subsidiary of Wheelock & Co. Wharf REIC and Wharf Estates Singapore are named after The Wharf (Holdings), another subsidiary of Wheelock & Co..

<span class="mw-page-title-main">Bellagio (Hong Kong)</span> Private housing estate in Sham Tseng, New Territories, Hong Kong

Bellagio is a private housing estate on reclaimed land along Castle Peak Road, Sham Tseng, New Territories, Hong Kong.

Concord New Energy Group Limited is an investment holding company and is listed on the Hong Kong stock exchange with its Hong Kong headquarters at Admiralty, Hong Kong. The company had a management office in Beijing. The Company and its subsidiaries are engaged in engineering, procurement and construction (EPC), operation and maintenance of wind power plants, the manufacture of wind power equipment and other wind power related business. The listed company and its predecessor, had a few former names: Nam Pei Hong (Holding) Limited, Nam Pei Hong International Holdings Limited, N P H International Holdings Limited, Hong Kong Pharmaceutical Holdings Limited and most recently China Windpower Group Limited.

<span class="mw-page-title-main">Parc Oasis</span> Housing estate in Kowloon, Hong Kong

Parc Oasis is a private housing estate in Yau Yat Chuen, Kowloon, Hong Kong, located near MTR Kowloon Tong station. It is one of the largest development in Yau Yat Chuen. After the completion of the Festival Walk in 1998, shopping, watching movies and dining were more convenient. Nearby area in Kowloon Tong is a place of many famous kindergartens, primary and secondary schools.

John Louis Marden, CBE, JP was a British businessman and philanthropist. He was the chairman of Wheelock Marden.

Douglas Woo Chun-kuen JP, is the chairman & managing director of Wheelock & Co. and managing director of its subsidiary Wheelock Properties and several other subsidiaries.

<span class="mw-page-title-main">Hongkong Chinese Limited</span> Property and holding company

Hongkong Chinese Limited is a Bermuda-incorporated Hong Kong listed company. It was the holding company of Hongkong Chinese Bank, which was sold in 2002. The listed company now engaged in real estate development in China and had properties in Singapore. Hongkong Chinese Limited is an indirect subsidiary of Lippo Capital, which was owned by Indonesian entrepreneur Mochtar Riady and his family members. The chairman of Hongkong Chinese Limited, Stephen Riady, is the son of Mochtar.

Wharf Real Estate Investment Company Limited is a listed real estate portfolio company. It is a subsidiary of private company Wheelock & Co., as well as a sister company of fellow listed company The Wharf (Holdings).

References

  1. ↑ "Wheelock - Board of Directors". Wheelock & Co. Retrieved 12 November 2020.
  2. 1 2 Liu Yujing (16 June 2020). "Wheelock ends 57-year history as public company as shareholders approve HK$126 billion privatisation plan". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  3. ↑ "Wheelock's Shares Surge on HKEX Exit Plan". www.yicaiglobal.com. Retrieved 2021-02-26.
  4. ↑ "Property Marking to Market Back to the Basics". Interim Report 2002/03 (PDF). Wheelock and Co. p. 2. Retrieved 12 November 2020.
  5. ↑ Sito, Peggy (25 July 1995). "Property slump cuts profits at New Asia". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  6. ↑ "Wheelock - The Company". 2011-07-18. Archived from the original on 2011-07-18. Retrieved 2021-02-26.
  7. 1 2 "Management Discussion and Analysis" (PDF). Annual Report 2009 (Report). Wheelock Properties. 21 April 2010. Retrieved 12 November 2020.
  8. ↑ 香港置業公司派息. The Chinese Mail (in Chinese (Hong Kong)). 9 February 1935 – via HKPL MMIS.{{cite news}}: External link in |via= (help)
  9. ↑ 香港置業公司股東特別大會. The Kung Sheung Daily News (in Chinese (Hong Kong)). 3 December 1948 – via HKPL MMIS.
  10. ↑ "Joint Announcement" (PDF). Hong Kong: Wheelock and Co., New Asia Realty, Realty Development Corporation. 18 December 2002. Retrieved 12 November 2020.
  11. ↑ Kwok, Ben (19 December 2002). "New Asia plan disappoints market". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  12. ↑ Kwok, Ben (17 June 2000). "Swire rules out change in share class system". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  13. ↑ "Change of Company Name". Wheelock Properties. 6 September 2004. Retrieved 12 November 2020– via hkexnews.hk.
  14. ↑ Li, Sandy (29 April 2010). "Wheelock Properties up 137pc on buyout plan". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  15. ↑ Liu, Yvonne (25 June 2010). "Offer for Wheelock Properties approved". South China Morning Post. Hong Kong. Retrieved 12 November 2020.
  16. ↑ "Wharf (00004) to buy Wheelock House properties at HK$6.2bn". etnet.com.hk. 15 March 2016. Retrieved 12 November 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.