Hongkong Land – Expanding Its Commercial Property Portfolio Across Asia Past, Present and Future
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2012 vol.1 Thistle The Magazine of Jardine Matheson Group Chairman Celebrates 50 years with Jardines > page 3 Group Managing Director Attends Asia-Pacific Summit in Hawaii > page 6 Gala Celebrates Mandarin Oriental’s Paris Debut > page 9 Hongkong Land – Expanding its Commercial Property Portfolio Across Asia Past, Present and Future As we enter the new Year of the Dragon, it is a good time to reflect on the past, make the most of the present and look to the future. At a special dinner held at Mandarin Oriental, Tokyo on 8th December, directors of our main listed companies and country heads came together to celebrate Group Chairman, Sir Henry Keswick’s 50 years with Jardine Matheson. A presentation described the Group’s colourful history during the past half century and the Chairman’s great contribution in building the business to where we are today. In our feature on pages 14 to 19, we see how Hongkong Land, one of Asia’s leading property investment, management and development groups, is making the most of the present by extending its brand across Asia and positioning itself for further expansion. As to the future, I shall be stepping down as Group Managing Director at the end of March after six challenging but very enjoyable years in this position, and so this is the last time I shall address you in this column. Since I joined Jardines in 1969, there have been many changes. At that time, we were primarily an agency house with the majority of our business in Hong Kong and despite our long history we were a much smaller group than we are now. Today, we also have market leading businesses in many sectors with an excellent position in Southeast Asia complementing our historically strong position in Greater China. We have a sound balance sheet providing a springboard for further expansion. While great businesses and sound finances are important ingredients for success, I believe that even more important is the professionalism, dedication and enthusiasm of our staff. And I would like to thank you all sincerely for your tremendous efforts in driving growth across our Group. I have every confidence that in the future, the Group will continue to develop and prosper, reaching new heights, and I look forward to my ongoing association with Jardines as a non-executive director of our principal listed companies. Anthony Nightingale At the Centre 2 Group Chairman Celebrates 50 years with Jardines Asia Pacific Regional Board Meeting Held in Japan Group Results Reflect Satisfactory Market Conditions Group Managing Director Visits Southwest China 2 Projects … Leadership 8 Gala Celebrates Mandarin Oriental’s Paris Debut Gammon Joint Venture Wins Strategic Rail Network Contract Jardine Lloyd Thompson Expands its Presence in Italy and Chile New Attractions at Mandarin Oriental Hotels … Feature 14 Hongkong Land – Expanding its Commercial Property Portfolio CONTENTS Across Asia 18 Performance 20 Prestigious Awards for Marina Bay Financial Centre Wellcome Hong Kong Brands Awards Break All Records Outstanding Customer Service from Group Companies in Hong Kong … Spirit 26 CENTRAL Rat Race Raises Record Funds for MINDSET MINDSET Participates in World Congress Party Time for Boys’ and Girls’ Clubs 26 Association Families IKEA Soft Toys Help Fund Rural Projects … People 34 Hactl Unveils Vision 2015 Senior Management Changes Group Celebrates St Andrew’s Day Enterprise at Work … Jardine OneSolution 35 Group Chairman Celebrates 50 years with Jardines AT THE CENTRE Group Chairman Celebrates 50 years with Jardines A special dinner was held at Mandarin At the Centre Oriental, Tokyo on 8th December 2011 to celebrate Group Chairman Sir Henry Keswick’s 50 years with Jardine Matheson. The event was attended by directors of a number of the Group’s main listed companies and country heads. During the dinner, Group Managing Director Anthony Nightingale gave a well-received illustrated presentation of Sir Henry’s half century with the A presentation on Group Chairman Sir Henry Keswick’s half century with Jardine Matheson was given by Group Group, which began in Hong Kong in Managing Director Anthony Nightingale during the special dinner held to mark the event at Mandarin Oriental, Tokyo. 1961, the same year that the Group was listed on the Stock Exchange there. political. Using comparable figures, the vision and the determination of Group’s after tax profits have increased Henry Keswick.” Paying tribute to Sir Henry, 100 fold over the period, rising from Mr Nightingale said, “In the past US$14 million to US$1.4 billion, while As a record of his 50 years with the 50 years since its flotation, Jardine our market capitalization has grown by Group, Sir Henry was presented with a Matheson has developed and nearly 200 times. limited edition ‘Semicentennial’ report prospered, and in doing so has for Jardine Matheson, in which he overcome many challenges and “An important ingredient in this features prominently, and an engraved setbacks, both commercial and success is the leadership, the gold watch. Asia Pacific Regional Board Meeting Held in Japan For the first time, the Jardine Matheson situation, politics in Japan, and relationships in the motor and heavy Group’s annual Asia Pacific Regional opportunities and challenges in equipment industries, and the Group’s Board (APRB) meeting was held in mainland China, as well as updates valued relationships with the country’s Japan, at Mandarin Oriental, Tokyo. The on Group businesses. Guest speakers three largest banks. event brings together Board members, were Taro Aso, a former Prime Minister country heads and chief executives of of Japan, and Jesper Koll, Head of The APRB meeting ended with a the Group’s main listed companies. Japan Equity Research at J P Morgan. cocktail reception hosted by Group Chairman Sir Henry Keswick for The APRB programme consisted of The Jardine Matheson Group has government officials, local business a series of presentations covering significant links with Japanese partners and colleagues based matters relating to the global economic companies, in particular Astra’s in Japan. 2012 vol.1 Participants at the Jardine Matheson Asia Pacific Regional Board Meeting held on 9th December 2011 at Mandarin Oriental, Tokyo. Thistle Group Results Reflect Lord Powell Visits Beijing Satisfactory Market During a visit to Conditions Beijing, Matheson & Co Director Lord The Jardine Matheson Group’s Powell of Bayswater Interim Management Statement met with Chen Yuan, for the period 1st July to 8th Chairman of the November 2011 reported that Development Bank satisfactory market conditions of China, to discuss were being experienced by many the outlook for the of its businesses and confirmed Chinese economy. that, despite the uncertain global economic environment, overall results were ahead of 2010. Midnight Gun Marks Beginning of 2012 Jardine Pacific’s operations The traditional Jardines’ Midnight Strategic Development, a Member continued to produce some Gun Salute to the New Year was fired of the Committee on Strategic strong performances, although by Mrs Christina Nightingale, wife of Enhancement of Hong Kong as an Gammon Construction’s result Jardine Matheson Group Managing International Finance Centre, a had been affected by two difficult Director Anthony Nightingale, who is Member of the Committee on Real projects. Jardine Motors achieved retiring at the end of March after six Estate Investment Trusts of the good sales in Hong Kong, but its years in the position. Securities and Futures Commission, earnings were lower due to the poor a Vice President of the Real Estate trading conditions in the United Mr Nightingale has served in a Developers Association of Hong Kingdom and reduced margins in its number of senior executive positions Kong and a Council Member of the mainland China operations. Jardine since joining the Group in 1969 and Employers’ Federation of Hong Lloyd Thompson was trading well in joined the Board in 1994. He will Kong. He is Chairman of the Sailors difficult markets. remain associated with the Group as Home and Missions to Seamen, a a non-executive director of its main Hong Kong Representative to the Hongkong Land’s commercial listed companies. APEC Business Advisory Council, property interests were benefiting Chairman of the Hong Kong-APEC from high levels of occupancy and Mr Nightingale also holds a Trade Policy Study Group Limited, mostly positive rental reversions. number of positions in the public and a Member of the Mayor of Dairy Farm was continuing to trade sector. He is a Non-Official Chongqing’s International Economic ahead of the same period last year Member of the Commission on Advisory Council. with growth in sales and earnings. Mandarin Oriental’s Tokyo property continued to be impacted by low levels of occupancy, but demand in most of its other markets enabled average room rates to increase further. Jardine Cycle & Carriage saw some improvement in income from its non-Astra motor interests. Astra itself was delivering strong results with good performances across all its major business segments. The Jardines’ Midnight Gun fired by Mrs Christina Nightingale heralds the arrival of 2012. Farewell for Indonesian Ambassador Jardine Matheson Chairman At the Centre Sir Henry Keswick (centre) and Director Simon Keswick (fifth left) attended a farewell reception at the Mandarin Oriental Hyde Park, London, for the departing Indonesian Ambassador to the United Kingdom, His Excellency Yuri Octavian Thamrin (fourth left). Group Managing Director Visits Southwest China Projects Jardine Matheson Group Managing and Hongkong Land Chief Executive Deputy, Dong Jianguo, to see the site Director Anthony Nightingale travelled Y K Pang. for Zung Fu’s first dealership in the city. to Southwest China to visit Group projects in Chengdu and Chongqing. First stop was Chengdu where Over the next two days Mr Nightingale He was accompanied by Jardine Mr Nightingale visited Zung Fu’s new visited Jardine Matheson’s many Matheson China Chairman David Hsu Mercedes-Benz Nanxing showroom.