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Hutchison Whampoa Limited or '''HWL''' (, ) of Hong Kong is a Fortune 500 company and one of the largest companies listed on the Hong Kong Stock Exchange . HWL is a leading international corporation with a diverse array of holdings which includes the world's biggest port and telecommunications operators. Its business also includes retail, property development and infrastructure. It belongs to the Cheung Kong Group . HISTORY Hutchison Whampoa was originally two companies founded in 19th century, namely ''Hong Kong and Whampoa Dock'', established in 1863, and ''Hutchison International'' in 1877 Hutchison-Whampoa: Milestones 1828-1959 . Hutchison International, under Sir Douglas Clague , gained controlling interest of Hong Kong and Whampoa Dock in the 1960s Hutchison-Whampoa: Milestones 1960-1969 . In 1977, Hutchison acquired all stakes of ''Hong Kong and Whampoa Dock'' and became ''Hutchison Whampoa Limited''. Although Hutchison had a portfolio of valuable real estate interests in docks and retail ventures, the company ran into trouble, and had to be rescued by the , August 06, 2005 On September 25, 1979, at the close of trade in London , the Bank announced it was selling its stake in Hutchison to Cheung Kong for HK$639 million. COMPANY HWL currently operates in 56 countries and employs over 220,000 staff worldwide. The company has five core businesses:
INDUSTRIES HWL operates in businesses related to:
CRITICS Panama Canal During the United States ' Clinton Administration , when the President and Vice President were under attack for taking money from Chinese funders, several Conservative U.S. Congressmen and U.S. Senators tried to tie Hutchison Whampoa and its chairman, Li Ka-shing, into the scandal. Hutchison had successfully earned the rights to operate ports on both sides of the Panama Canal , and the coincidence of that event with the Chinese troubles rocking the White House was too good to ignore. Despite the fact that Hutchison and its chairman had never given money to President Bill Clinton 's political effort, and despite the fact that Hutchison is a publicly traded company with no ties to the Chinese Government , Right-wing critics tried to make the case that Hutchison's presence in Panama was an attempt by the People's Liberation Army to gain control over the Panama Canal, and that the effort was facilitated by President Clinton as a political favor. In October 1999, Senate Majority Leader Trent Lott have raised fears that China may be seeking control of the Panama Canal through Hutchison Whampoa Limited. Clinton, Panama's leader to hold Canal talks - U.S. transfers ownership of vital waterway at year's end , CNN , October 19, 1999 The final negotiaton and signature of the News, 14 December, 1999 . Today, the Autoridad Del Canal De Panamá (Panama Canal Authority) is responsible for the operation and management of the canal. Hutchison Whampoa operates ports in Panama, as it does in Mexico and other parts of the Americas. Bahamas Port In March 2006, the , March 24, 2006. SEE ALSO REFERENCES EXTERNAL LINKS Data |
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