Hopewell Holdings
 | This article needs additional citations for verification. (April 2019) |
 | |
 Headquarters at Hopewell Centre | |
| Company type | Public |
|---|---|
| SEHK: 54 | |
| Founded | 1972 |
| Headquarters | Hong Kong |
Key people | Gordon Wu |
| Subsidiaries | Hopewell China Development (Superhighway) Limited |
Hopewell Holdings Limited (
History
It was listed on the
Hopewell Holding is a holding company for investments in infrastructure projects, property letting, property agency and management, hotel operations and management, restaurant operation and food catering, construction and project management.
Its primary businesses are in Guangdong and Hong Kong. It was one of the first foreign companies to invest in infrastructure projects in China and a pioneer of infrastructure developments across Asia, including the failed Bangkok Elevated Road and Train System (BERTS) project in Bangkok.
It holds 68 percent of
As one of the founders of Hopewell Holdings, Wu has been the managing director since 1972. He retired as the managing director of Hopewell Holdings in January 2002 but remains as chairman of the board.
Hopewell's businesses
Infrastructure
Hopewell is participating in the investment of five toll road projects with a total length of 360 kilometres (220 mi), all of which are in the
- Guangzhou-Shenzhen Superhighway (Guangshen Expressway)
- Guangzhou East-South-West Ring Road
- Shunde Roads
- Shunde 105 Roads
- Guangzhou-Zhuhai West Superhighway
Thailand litigation
Hopewell was the lead contractor for the ill-fated Bangkok Elevated Road and Train System. The project commenced in 1990 and was terminated by the Thai government in 1998, only 13% complete. Each side blamed the other for the failure of the project. Both parties sued, and the case has been in litigation since its cancellation. On 23 April 2019, Thailand's Supreme Administrative Court upheld an arbitration committee's ruling in favour of Hopewell, contractor for the 80 billion baht project. The court ordered SRT to pay Hopewell compensation of 11.88 billion baht, plus 7.5% interest per year. The interest, totaling 13 billion baht, brings the total to nearly 25 billion baht (c. US$400 million), payable within 180 days.[3] Thailand's Transport Ministry is battling to overturn the court ruling. "We have found the contract should have been nullified from the very beginning, which means the government is not bound to pay a single baht in compensation," said a ministry spokesman.[4]
See also
- List of Hong Kong companies
- Nam Koo Terrace
References
- ^ Bloomberg page on Hopewells 2018-05-19
- ^ "Hopewell and the lemon discount". webb-site. 22 March 2019. Retrieved 22 March 2019.
- ^ Limsamarnphun, Nophakhun (2019-04-27). "SRT faces hefty bill in Hopewell case". The Nation. Retrieved 2019-04-27.
- ^ Hongtong, Thodsapol (28 October 2019). "New legal bid to stop Hopewell payout". Bangkok Post. Retrieved 28 October 2019.
External links
- Hopewell Holdings homepage (in English)
- Hopewell Holdings homepage (in Chinese)