Jardine Schindler – Keeping the Region Moving Future Growth
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2012 vol.2 Thistle The Magazine of Jardine Matheson Strength of Group’s People Underpins Record Performance and Future Growth > page 3 Pride in Performance Winners Showcase Breakthrough Performances > page 4 Mannings Meow Campaign is the ‘Talk of the Town’ > page 23 Jardine Schindler – Keeping The Region Moving Future Growth As I settle into my new role as Group Managing Director following Anthony Nightingale’s six years of impeccable leadership, the Group is very well placed thanks to the clear strategies that have been pursued. As I said in my first annual address held together with Anthony, I expect our expansion in the next few years to be driven mainly by organic growth, supported by sensible bolt-on acquisitions or greenfield developments, with perhaps a few exciting new ventures. This is all underpinned by the excellent quality of our People right across the Group. Most of our businesses are market leaders in their respective sectors, representing well-established brands that have excellent opportunities for further growth. A fine example is Jardine Schindler, the subject of our feature on pages 16-21. Over the last few years, Jardine Schindler has focused on improving its position and profitability in the Region’s emerging markets, with outstanding results. This success was recognized in the 2012 Pride in Performance Awards where Jardine Schindler won the Business Outperformance category, showcasing along with the other impressive award winners, the breakthrough performances that drive our businesses forward. I very much look forward to working with all our businesses and their People and am confident that the Group will maintain its momentum and continue to achieve growth in the years ahead. Ben Keswick At the Centre 2 Strength of Group’s People Underpins Record Performance and Future Growth Anthony Nightingale Steps Down After Over 42 Years Pride in Performance Winners Showcase Breakthrough Performances 4 London Meetings with China Leaders … Leadership 10 Hongkong Land Introduces LANDMARK Brand for Central Hong Kong Portfolio Gammon Wins Largest-Ever Solo Contract Greater Recognition for THACO Kia in Vietnam 14 Pizza Hut Hong Kong Launches Brand Campaign … Feature 16 CONTENTS Jardine Schindler – Keeping The Region Moving Performance 22 Mannings Meow Campaign is the ‘Talk of the Town’ Appreciation for Jardine Aviation Services Staff Industry ‘Oscars’ for Mandarin Oriental Hotels Awards’ Admiration for Astra … 23 Spirit 26 Walk Up Jardine House Achieves New Fund-Raising Record for MINDSET MINDSET Singapore Launches Second Year Photo Exhibition Created by Sichuan Earthquake Schoolchildren Mandarin Oriental, Jakarta Fun Bike Ride Supports Car-Free Programme … People 32 Outdoor Leadership Test for Graduate Trainees Tokyo Reunion ‘Count on Me’ at Wellcome Taiwan Enterprise at Work … Jardine Fast Food 33 Restaurants (Taiwan) Strength of Group’s People Underpins Record Performance and Future Growth AT THE CENTRE Strength of Group’s People Underpins Record Performance and Future Growth Against a background of an “I expect to see our expansion in 2011 Results At the Centre increasingly challenging business the next few years driven mainly by environment, the Jardine Matheson organic growth, supported by sensible The Group achieved an underlying Group performed well in 2011. There bolt-on acquisitions or greenfield profit before tax in 2011 of were, in particular, excellent results developments, with perhaps a few US$4,784 million, an increase of from Astra and Dairy Farm. exciting new ventures,” he continued. 13%. Underlying profit attributable to shareholders was 10% higher at In the annual address to senior Mr Keswick said that the Group’s US$1,495 million while underlying executives following the results’ philosophy was to create value over earnings per share were 9% higher at announcement, incoming Managing the long term. US$4.13. Revenue for 2011, including Director Ben Keswick said that 100% of revenue from associates and despite the uncertain economic “We understand the importance joint ventures, was US$57 billion, environment, the Group was very of providing the infrastructure and compared with US$47 billion in 2010. well placed thanks to the clear resources necessary to grow our strategies that had been pursued in businesses. And most importantly, Jardine Pacific saw good performances recent years. we strongly believe in investing in our across its operations, despite the ‘People’, as I believe that the strength more difficult trading conditions “Most of our businesses are market of the Group lies within its People,” experienced by a number of its leaders in their respective sectors, he added. businesses. Jardine Motors’ operation representing well-established brands in Hong Kong produced a good that have excellent opportunities for Our People, Our Strength result, but there were disappointing further growth,” he said. performances in Southern China and In his final annual address before the United Kingdom. Jardine Lloyd Mr Keswick said that the Group’s stepping down as Managing Director, Thompson continued to perform well core markets of Greater China and Anthony Nightingale also praised the and its contribution was enhanced by East Asia would drive the bulk of strength of the Group’s ‘People’ and the Group’s increased shareholding. its earnings. said that their shared attributes were at the heart of Jardines’ culture and Hongkong Land’s commercial “These are markets where we have critical to its performance. property activities did well in 2011, a real competitive advantage, having but its results were lower following a accumulated extensive knowledge “I believe many of our operations reduced contribution from residential and built unique business networks have become world class, competing developments. Dairy Farm continued over many years.” well against the best in their to generate profitable growth across fields. The driving force behind most of its banners. Mandarin Mr Keswick also said that while its this transformation has been the Oriental’s profits continued to recover businesses varied, building existing professionalism and management following improvements in occupancy operations through organic growth skills of our People,” he concluded. and room rates. Astra achieved record must be the Group’s primary aim. results as its businesses performed well in a strong trading environment. 2012 vol.2 Thistle Anthony Nightingale Steps Down After Over 42 Years After over 42 years with the Jardine concentrating Matheson Group, the last six on trading and as Managing Director, Anthony shipping, to a large Nightingale retired at the end of diversified group. March. The occasion was marked If we adjust our by a reception held at Mandarin 1969 and 2011 Oriental, Hong Kong to bid him figures for inflation, farewell and to welcome his our profits have successor, Ben Keswick. grown 30 times,” Addressing friends and business said Mr Nightingale. partners at the event, Mr Nightingale reflected on his career with the Mr Nightingale, Group, which he joined in 1969 who will remain Outgoing and incoming Managing Directors toast friends and business straight out of university. He also a non-executive partners at a gathering in Mandarin Oriental, Hong Kong. reminded his audience of how director of the Jardines had changed since then. Group’s main listed companies, “As I look forward, I still see said that he counted himself a very tremendous opportunities for “Over this period, Jardines has lucky man to have made the decision Hong Kong as well as tremendous evolved from an agency house, 42 years ago to come to Hong Kong. opportunities for Jardines.” Pride in Performance Winners Showcase Breakthrough Performances JLT India Success Wins PIP Grand Prize for establishing an JLT India started life in 2006 with six Awards Grand Prize outstanding offshore service centre, staff sharing a single laptop crowded which has substantially reduced costs in a rented room. Today JLT India JLT India, the Successful New Initiative and increased efficiencies for the occupies 80,000 sq. ft, employs 700 category winner, has carried off the JLT group. people and is JLT’s second largest Pride in Performance (PIP) Awards office. In just five years and with a Winners of the 2012 Pride in Performance awards celebrate with (sixth from right) Jardine Matheson Group Managing Director Anthony Nightingale. total investment of US$37 million, JLT and expanding product offerings. The At the Centre India has achieved US$31 million of approach paid off. Guardian’s annual recurring annual cost savings for the sales grew by 11.5% in 2011, profit group, representing a 165% return rose 26.6% and a survey showed on investment. On the quality front, consumers rated Guardian as a customer satisfaction has improved vibrant, fun and upscale shopping by over 20% and turnaround times destination while still retaining its for claims processing has decreased professional standards. from five days to just 36 hours. JLT Jardine Lloyd Thompson, India – Successful New India has also contributed to making Gammon Innovation Ensures Initiative and Grand Prize Winner the group sharper, leaner and more Project Success client-focused. Gammon used its highly developed in- Customers for Life at house Building Information Modelling Auto2000 (BIM) programme to overcome the intricate construction challenges In 2010, Auto2000, Indonesia’s involved in its contract to build Opus, leading Toyota dealer, initiated a a prestigious residential tower in Hong comprehensive upgrade of its after-