Power Assets Holdings Limited
| Power Assets Holdings Limited
|
|
|---|---|
 |
|
| legal form | Limited |
| ISIN | HK0006000050 |
| founding | 1890 |
| Seat |
 Hong Kong
|
| management | Charles Tsai Chao Chung (CEO) |
| sales | HK $ 1.42 billion |
| Branch | Supplier |
| Website | www.powerassets.com |
Power Assets Holdings Limited is a Chinese company headquartered in Hong Kong . The company is listed in the Hang Seng Index . Hong Kong Electric was the first to offer electricity as a utility in Hong Kong.
Company history
The activities of the Hong Kong Electric Company date back to the 19th century. The company was founded in 1890. At the beginning, the company's production was controlled by Sir Catchick Paul Chater as an informal member of the company's board of directors. On December 1st, 1890 at 6 p.m. the first electric street light shone in the center of Hong Kong. The first power plant was built in Wan Chai . The second power plant was built in North Point in 1919 and the third power plant was built in Ap Lei Chau in 1968.
The Chinese company Hong Kong Land (HKL), which owned 34 percent of Hong Kong Electric, had to sell its stake in January 1985 as a result of a painful restructuring. The new majority owner of Hong Kong Electric was Cheung Kong Holdings , today's CK Hutchison Holdings .
Subsidiaries and investments
- ETSA Utilities , Australia - 27.93% stake (acquired January 2000)
- Powercor Australia , Australia - 27.93% stake (acquired in September 2000)
-
CitiPower , Australia - 27.93% stake (acquired July 2002)
and jointly owned with Cheung Kong International -
Ratchaburi Power Company Limited , Thailand - 25% stake
together with Ratchaburi Power Company - Northern Gas Networks Limited , United Kingdom - 41.29% stake (acquired June 2005)
- Associated Technical Services Limited
- Wellington Electricity Distribution Network - 50% stake (acquired in 2007)
Individual evidence
- ^ Power Assets Holdings: Consolidated Statement of Profit or Loss, accessed January 1, 2019
- ^ Trea Wiltshire: Old Hong Kong. 4th edition. Form Asia books, Hong Kong 2003, ISBN 962-7283-60-6 , p. 11.
- ↑ Chito Santiago: HK Land came out better despite $ 375 million payout. In: Hong Kong Standard. 17th October 1985.
- ↑ heh.com