One of Asia biggest conglomerate. Listed in HK, HWL is one of Asia biggest conglomerate with a global presence, operating in 52 countries across the world. It 6 core operations include:
(1) Port and related services
- Also known as Hutchison Port Holding (HPH), it is the world's leading port investor, developer and operator
- HPH network comprises 319 berths in 52 ports. In 2013, it handled a combined through of 78.3m TEU
- In 2011, spun off its HK and Yantian deep-water terminal assets as HPH Trust.
- Also holds an interest in HUD Group and Hongkong Salvage & Towage
From HWL FY13 Annual Report
(2) Property & Hotel
- Develop and invest in leading real estate projects, ranging from landmark office buildings to luxury residential properties.
- Hold a rental property portfolio of approximately 14.0 million square feet of office, commercial, industrial and residential premises, primarily in Hong Kong, as well as interests in a number of joint-venture developments in Mainland China and selective overseas markets.
- Also have ownership interests in 11 premium hotels in Hong Kong, the Mainland and the Bahamas.
From HWL FY13 Annual Report
(3) Retail
- Also know as A.S Watson Group (ASW), it is the largest international health & beauty retailer in Asia & Europe, with a network of over 10,800 retail stores in 22 countries worldwide. With a workforce of over 100,000 staff, ASW's portfolio encompasses some of Asia's top retail brands.
- These include include health & beauty specialist Watsons, PARKnSHOP supermarket, FORTRESS electrical appliances chain and Watson’s Wine. ASW is also a major manufacturer, and distributor of water products and beverages in the region with Watsons Water and Mr. Juicy being the flagship brands in Hong Kong and Mainland China.
- In Europe, the Group operates a number of health & beauty retail brands, chains - Drogas, including Kruidvat, Superdrug, Rossmann, Savers, Trekpleister, Drogas, Spektr and Watsons. In addition, it also owns two luxury perfumeries and cosmetics retail brands ICI PARIS XL and The Perfume Shop.
From HWL FY13 Annual Report
(4) Infrastructure
- The Infrastructure division includes the Group's 78.15% interest in Cheung Kong Infrastructure Holdings an investor in Hong Kong, Mainland China, the UK, the Netherlands, Australia, New Zealand and Canada.
From HWL FY13 Annual Report
(5) Energy
- The Energy division includes the Group's 33.98% interest in Husky Energy Inc, one of Canada's leading integrated energy and energy-related companies.
From HWL FY13 Annual Report
(6) Telecommunications
- HWL is a leading global mobile telecommunications and data services operator and pioneer of mobile broadband technology. Its operations comprise mobile, fixed-line, broadband and international connectivity services in 11 countries around the world.
From HWL FY13 Annual Report
In addition to finance and investment returns, HWL also has interests in Hutchison Whampoa (China), listed subsidiary Hutchison Harbour Ring, listed associate TOM Group, Hutchison Water and Marionnaud.
Mr Li Ka shing is the founder and biggest shareholders of the company. Mr Li Ka Shing is the ultimate shareholder of HWL via his 43% holding in Cheung Kong Holdings which in turn holds 49.97% in HWL. Below provide a brief corporate structure of the company.
From HWL Corporate Website
(2) Financial Highlights
For a sense of the global presence of HWL, below chart provides a breakdown of the geographic & division contribution from this corporate behemoth:
From HWL FY13 Annual Report
From HWL FY13 Annual Report
(3) Investment Decision
Taken from Bloomberg website - See link: http://www.bloomberg.com/quote/13:HK
- Personally, HWL is one of the strongest company one can invest in. However, the devils is in the price
- For investor seeking for dividend, a stable 2.2% dividend yield might not be that bad given that most of its revenue are recurrent and stable
- For investor seeking for growth, this might not be a exciting option as HWL is basically a matured company with no significant growth upside
- Given the significant exposure it has in Europe and Asia, you are effectively buying the future of this 2 regions. Thus if one has a favorable views of this 2 regions, HWL will be one of the best proxy you can invest in
No comments:
Post a Comment