Henderson Land Development
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| Public | |
| Traded as | : 0012 OTC Pink: |
| Industry | Property |
| Headquarters | 2IFC, Hong Kong Island, Hong Kong |
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Key people
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Lee Shau Kee, Chairman Colin Lam, Ka-shing Lee, Ka-kit Lee, Vice Chairmen |
| Products | Real estate, investment, hotels, utilities |
| Revenue | HKD 5,833 million (2005) |
| HKD 1,763 million (2005) | |
| Owner | Lee Shau Kee (70.17% - June 2015) |
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Number of employees
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6,500 |
| Parent | Henderson Development Ltd. |
| Subsidiaries | Henderson Investment Ltd. |
| Website | www.hld.com |
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Footnotes / references Associates: Towngas (41.51%), Miramar Hotel and Investment Co, Ltd (45.08%) and Hong Kong Ferry (33.33%). |
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Henderson Land Development Co. Ltd. (Chinese: 恒基兆業地產有限公司; : 0012, OTC Pink: ) is a listed property company and a constituent of the Hang Seng Index. The company's principal activities are property development and investment, project management, construction, hotel operation, department store operation, finance, investment holding and infrastructure. It is the third largest Hong Kong real estate developer by market capitalisation. The company is controlled by Dr Lee Shau Kee, who speaks for approximately 70.17% of the share capital as at June 2015.
Founded by Li Shau-kee, the company was taken public in 1981 by Sun Hung Kai Securities. The shares were introduced at HK$4 by a novel, geared, method – there was to be an initial downpayment of HK$1 per share upon subscribing to the offer, with cash calls of another HK$1 six months later. The final HK$2 instalment would be due at the year end.
In 2006, the State Administration of Foreign Exchange (SAFE) found that Henderson had breached the foreign-exchange regulations in the amount of HK$565 million. Henderson allegedly engaged Shenzhen Zhaotian Investments, headed by Tian Chenggang – whose father is former vice-premier Tian Jiyun – to lobby for leniency from the potential fine of 150 million yuan, according to Tian. On 4 December 2006, the company was issued with a fine of 2.33 million yuan (HK$2.9 million), which the company paid. Zhaotian sued in Hong Kong in 2012, claiming an oral agreement between Tian Chenggang and CFO Alexander Au for a HK$43 million "consultation fee", and failed upon appeal in 2015 due to the absence of documentary evidence of the agreement.
The company's stakes in its principal associates as at 31 December 2014 were Towngas (41.51%), Miramar Hotel and Investment Co, Ltd (45.08%) and Hong Kong Ferry (33.33%).
As at 31 December 2014,Henderson Investment ("HI") was a 69.27% listed subsidiary of the Company (67.14% as at 30 June 2006), which previously held the group stakes in the Hong Kong Ferry (Holdings) Company, the Miramar Hotel Group, and The Hong Kong and China Gas Company. Its shares have been consistently trading at below NAV.
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Wikipedia