Page 4 - Sphere No.12 (Aug 2004)

S

PHERE

2

News

bites

To enter into the spirit of the Olympic

Games,

Watsons Water

is focusing

on “Sports” this year.

In April it joined

Hong Kong City

Polytechnic University

and

Hong Kong

Polytechnic University

to organise

the “Watsons Water Bottle Label

Design Competition.”

The competition highlighted in an

imaginative way that water is closely

associated with sports and fitness and

90 tertiary design students took part.

Meanwhile, the A.S. Watson Group

is sponsoring the Hong Kong

Outstanding Junior Athlete Awards for

the second year running.

Fuel for Sport

Winning Entry:

The champion’s

work captures the energy of sports

and reflects the theme that

Watsons

Water

is part of daily life.

HutchisonWhampoa (China) Ltd

(HWCL) has sold its remaining 20%

interest in the Mainland China joint

venture

Procter & Gamble-Hutchison

Ltd

(P&G-H) to

The Procter & Gamble

Company

(P&G) for a cash considera-

tion of US$2 billion (approxi-

mately HK$15.6 billion). The

deal was completed in June with

a gain on sale of HK$13.7 billion

realised by HWCL.

HWCL and P&G established the

initial JV in Mainland China in

1988. In 1997, by mutual agree-

ment HWCL sold approximately

10% of its interest in P&G-H to

a P&G subsidiary and agreed with P&G

on options for it to acquire HWCL’s

remaining 20% between 2007 and 2017.

The agreement accelerated the sale,

which represented the realisation of

value of a non-core asset of Hutchison.

Hutchison Whampoa Limited

(HWL), one of the largest companies listed on the

main board of the Hong Kong Stock Exchange, is the holding company of the

Hutchison Whampoa Group of companies. As one of the earliest big “hongs”, or trading

companies, in Hong Kong, Hutchison’s history dates back to the 1800s. Today, HWL is a

multi-national conglomerate with businesses spanning 42 countries. With over 170,000

employees worldwide, Hutchison operates and invests in five core businesses: ports and

related services; telecommunications; property and hotels; retail and manufacturing; and

energy and infrastructure.

Its flagship companies include Hutchison Port Holdings, Hutchison Telecom, Hutchison

Whampoa Properties, A.S. Watson, and Cheung Kong Infrastructure. In 2003, HWL’s con-

solidated revenue was HK$145,609 million (US$18,668 million).

Sale of Mainland JV Nets US$2 billion

C O R P O R A T E

Hutchison Whampoa Limited

has for the first time featured

in the “

Fortune

Global 500” 2003

list of the world’s 500 largest

corporations.

HWL

announced on June 9 that the

Group has signed an agreement with

Hyundai Merchant Marine Co

(HMM)

to purchase 12% of the shares of HMM

at a consideration of approximately

HK$606 million (approximately

US$77.7 million).

HWL’s business relationship with

HMM began in 1993 when the

shipping company first called at the

Group’s port terminals.

In 2001, HWL acquired the Jaseongdae

terminal in Busan, South Korea, from

HMM and led a consortium with HMM

and

Hanjin Shipping

to operate a termi-

nal in Kwangyang. HWL currently oper-

ates the Busan and Kwangyang ports

through

Hutchison Port Holdings

.

Strategic Investment

R E T A I L & M A N U F A C T U R I N G

Noted