FAX TRANSMISSION
Mr J
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BRITISH TRADE COMMISSION IN HONG KONG 9th Floor Bank of America Tower 12 Harcourt Road Hong Kong Mail Address GPO Box No $28 Hong Kong
Telex HX 73031 Cable Address Uktrade Hong Kong Telephone 5-230176
Miss Jean Gray, OT2/2D, DTI
*
Your reference
Our reference
TO:
Fax No:
FM:
Mr David Smith
нко 340/5
RY
Date
5FEB 1991
Dew Jean
D INDE
PAGE 1 of 14
HKD), Aur Paint
38
Mr Hagnell das, Dolarity
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1 February 1991
Mr Hague Tel out
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We need a te to HK asking the timetable for approval and publicative of the lior. To As you will have learnt from our tel 35 to FCO, the Advisory
BRITISH UNDERTAKINGS
12) We
Committee have approved the Hutchison Whampoa Group, Hong Kong Electric, The Wharf (Holdings) Limited, World International, Wheelock Marden and World Wide Shipping.
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The Hutchison Group were judged to meet criteria d (iii) their imports from the UK are worth about £31 million per year - and criteria d (iv) because of their joint-ventures with Cable & Wireless and British Telecom. A full list of their subsidiaries is attached.
Hong Kong Electric met criteria a (ii) because they are 35% owned by Hutchison Whampoa and d (iv) because their UK imports are valued at £21 million per year.
Wharf, World, wheelock Marden and Worldwide Shipping all fall into category c since 44% of Wharf and 48% of World and Wheelock are owned by Peter Woo (Chairman and Son in Law of Sir Y K Pao) and other family members who are British citizens. These holdings when combined with other British held shares held by Institutions are more than sufficient to take the totals over 50%. In the case of Worldwide Shipping, this company is wholly owned by the Y K Pao family who are all British citizens. Their list of subsidiaries is also enclosed, Wharf inform us all are wholly owned.
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A couple of small points: 1) Pritchard Englefield and Wang were cleared by the Committee when they met on 8 January but this information was not relayed to you. The Committee approved them under category E as a law firm partnership, with the majority of equity being owned by British citizens. They should therefore be included in our list.
2) With regard to your letter of 28 January, we have now removed Kuehne and Nagel from list B and the entries for Waterford Wedgewood have also been amended.
/... 2
Every effort is made to ensure that the information given herein is socurate, but no legal responsibility is accepted for any errors, omissions or misleading statements in that information caused by negligence or otherwise and no responsibility is accepted in regard to the standing of any firms.
companies or individuals mentioned.