MAJOR EVENTS
• Purchase of a 34% shareholding in Hongkong Electric Holdings for HK$2,930 million.
• Redemption of 82.7 million of the 72% cumulative redeemable participating preference shares.
• Purchase of China Building for cash and the issue of new ordinary shares.
• Sale of 2,760 flats in Sites 1 and 2 of Whampoa Garden of which 600 flats in Site 1 were handed over to owners in December, 1985.
• Purchase of International City Holdings for HK$3,535 million in cash on a 50:50 basis with Hongkong Electric Holdings.
• Handling of a record number of 860,000 TEUs (20 ft equivalent units) by Hongkong International Terminals during the year.
• Agreement with Government to build and operate Terminal 6 at Kwai Chung at a total cost of about HK$2,000 million.
• Sale of 90% interest in Hutchison Harrison Shipping whereby the Group has ceased its involvement in bulk carrier chartering.
• Opening of the 100th Park'N Shop.
• Formation in early 1986 of a 50:50 joint venture with Total Compagnie Francaise des Petroles of France to pool resources in coal trading.
• Purchase in early 1986 of Fortress and Fortress Building Materials.
• Increase of shareholding in Ready Mixed Concrete (H.K.) from 50% to 100%.
CONTENTS
Major events
Corporate information
Financial highlights
Chairman's statement
Operations review
Notice of meeting
Report of the directors
1
2
3
5
7
13
14
Group company profiles
16
Consolidated balance sheet
30
Consolidated profit and loss account
31
Balance sheet
32
Consolidated statement of changes in financial position
33
Notes on the accounts
34
Report of the auditors
43
Principal subsidiary and associated companies
Ten year summary
Analysis of Group profit and turnover
44
46
47
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HUTCHISON WHAMPOA LIMITED
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