Wheelock and Company is a Hong Kong-based financial real estate company operating since 1857. The company has a prosperous commercial heritage and is famous for its property investment, development, management, and agency services. Here are some key points to keep in mind when discussing Wheelock and Company:
- Wheelock and Company is in Hong Kong and has operated for over 160 years.
- The company primarily invests in property, development, management, and agency services.
- Wheelock and Company is one of the largest real estate companies in Hong Kong and has a strong reputation for delivering lasting value to its clients.
- Website: https://www.wheelockpropertieshk.com/
- Contact Information: 85221182668
Overall, Wheelock and Company is a well-established real estate company with a long history of success in Hong Kong. The company’s focus on investment, development, management, and agency services has helped it to become one of the most respected names in the industry.
Company History and Overview
Foundation and Growth
Wheelock and Co. Limited is a well-reputed international investment holding company. Captain Thomas Reed Wheelock founded it in 1857 as Shanghai Tug and Lighter Company Limited. The company was later Wheelock and Marden Company Limited after Wheelock’s business partner, Charles Marden.
Over the years, Wheelock and Company grew and expanded its business operations. It underwent several changes, including mergers and acquisitions, to become its current company. 1991, World International Holdings Limited was established as an investment holding company. It later changed its name to Wheelock and Company Limited.
Today, Wheelock and Company is a diversified investment holding company focusing on property investment and development, telecommunications, and transportation.
Wheelock and Company Limited Evolution
During World War II, Wheelock and Marden Company Limited’s operations in Shanghai were disrupted. The company relocated to Hong Kong after the war. In 1947, the company was listed on the Hong Kong Stock Exchange.
In 1987, Wheelock and Marden Company Limited was privatized and delisted from the Hong Kong Stock Exchange. The company was then restructured and renamed Wheelock and Company Limited.
After the privatization, the company’s entire holdings were consolidated under a new World International Holdings Limited, which later changed its name to Wheelock and Company Limited. The company has two arms, World International Asset Management Limited and Wheelock Holdings Pte Limited.
Some key facts about Wheelock and Company Limited include:
- Founded in 1857
- Privatized and delisted from the Hong Kong Stock Exchange in 1987
- Restructured and renamed Wheelock and Company Limited
- Two arms include World International Asset Management Limited and Wheelock Holdings Limited
Business Segments
Wheelock and Company operates in five business segments, including:
Real Estate Development
Wheelock and Company’s property development segment primarily focuses on developing high-end residential properties in Hong Kong. The company has a proven track record of success in this segment, with several high-profile developments completed in recent years.
Projects
- The Peak Collection
- The Wheelock Collection
- Family Homes
- Bespoke Residences
- Lifestyle Offices
Property Investment
The property investment segment of Wheelock and Company includes property leasing and hotel operations. The company owns several commercial and residential properties and hotels in Hong Kong.
Retail Operations
Under the retail operations segment, Wheelock and Company operates several well-known retail businesses, including Lane Crawford, Joyce, and Super. These businesses have a strong reputation for quality and service and are popular with consumers in Hong Kong and beyond.
Some key points about Wheelock and Company’s business segments include:
- The company strongly focuses on real estate development but is interested in property investment and retail operations.
- Wheelock and Company’s property development segment primarily focuses on high-end residential properties in Hong Kong.
- The property investment segment includes property leasing and hotel operations.
- Wheelock and Company operates several well-known retail businesses, including Lane Crawford, Joyce, and City’super.
- The company has a proven track record of success in all its business segments.
Strategic Investments
Wheelock and Company invests capital to build strong businesses that deliver lasting value through good and volatile days. This section will discuss the company’s strategic investments, including The Wharf and Investment Holdings.
The Wharf Holdings
The Wharf Holdings Limited is one of Wheelock’s principal investments. It is a property investor in Hong Kong with complementary businesses established in logistics and CME (communications, media, and entertainment). The Wharf is a leading property developer and operator in Hong Kong, with a strong reputation for quality and innovation.
- The Wharf has a diversified portfolio of retail, office, residential, and hotel properties.
- The Wharf’s flagship property is Harbour City, a premier shopping and entertainment destination in Hong Kong.
Investment Holdings
Wheelock has several other investment holdings focused on different sectors and geographies. These holdings include:
- Wharf Real Estate Investment Company Limited: This subsidiary of The Wharf Holdings focuses on property investment and development in mainland China.
- Wheelock Properties Limited: Wheelock’s subsidiary focuses on property development in Hong Kong and mainland China.
- Distribution: Wheelock has several investments in the distribution sector, including a stake in the Hong Kong-listed company LF Logistics.
- Others: Wheelock invests in other sectors, such as healthcare and technology.
Wheelock’s strategic investments are a vital part of the company’s success. By investing in solid businesses focusing on long-term value creation, Wheelock has delivered strong returns for its investors.
Financial Performance
Wheelock and Company Limited has had a mixed financial performance in recent years. This section will examine the company’s market valuation and asset management.
Market Valuation
Wheelock and Company Limited is on the Hong Kong Stock Exchange. As of the current date, the company’s market value is not available. However, according to the Forbes 2000 List, Wheelock and Company Limited is #1398th globally based on market value.
Asset Management
According to the company’s annual report, the company’s assets as of December 31, 2019, were HK $505.7 billion. In 2019, the group’s underlying net profit was HK$12.4 billion, slightly down by 6% from the previous year.
Here are some additional points regarding Wheelock and Company Limited’s financial performance:
- The company’s revenue for 2019 was HK$14,026 million, which was HK$3,946 million or 39% higher than the previous year.
- The company’s financial highlights for 2019 include a 6% decrease in underlying net profit, a 6% increase in total assets, and a 39% increase in revenue.
- Despite the challenging operating environment, the company’s financial performance remained stable throughout the year.
Leadership and Corporate Governance
Executive Leadership
Wheelock and Company is a Hong Kong-based investment holding company founded in 1857. Peter K C Woo, a prominent tycoon in Hong Kong, currently chairs the company. The executive leadership team of Wheelock and Company comprises Paul Y C Tsui, who serves as the Executive Director and Group CFO, and Ricky K Y Wong, who serves as the Executive Director.
Corporate Structure
Wheelock and Company has a robust corporate governance structure that ensures transparency, accountability, and ethical behavior. The company’s board of directors includes both executive and non-executive directors. The non-executive directors bring a wealth of experience and expertise to the board. One such non-executive director is Khoo Teck Puat, a well-known banker and philanthropist in Singapore.
The company also has a well-defined code of conduct and ethics to which all employees must adhere. The code of conduct emphasizes integrity, honesty, and respect for others. Wheelock and Company commits to maintaining high standards of corporate governance and is famous for its efforts in this regard. The company was awarded the Hong Kong Corporate Governance Excellence Awards in 2019.
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Frequently Asked Questions
What is the current net worth of Wheelock and Company?
- As of 2022, Wheelock and Company’s net asset value was HK$204 billion.
Who is the present owner of Wheelock and Company?
- Wheelock and Company Limited is a publicly-traded company with no owner or controlling entity.
Can you list the subsidiaries under Wheelock and Company?
- Wheelock Properties (Hong Kong) Limited
- Wheelock and Wharf Hotels Management Limited
- Wheelock Investments Limited
- Wharf Real Estate Investment Company Limited
- Lane Crawford Joyce Group
What is the stock symbol for Wheelock and Company on the stock exchange?
- The stock symbol for Wheelock and Company on the Hong Kong Stock Exchange is “0020. HK”.
Where can I find the latest annual report for Wheelock and Company Limited?
- The latest annual report for Wheelock and Company Limited is on the company’s official website.
What is the address of Wheelock and Company’s headquarters in Hong Kong?
- Wheelock and Company Limited’s headquarters is at 20 Pedder Street, Central, Hong Kong.
