CONTINUING GROWTH FOR HONGKONG ELECTRIC
WHEN the Hongkong
Electric Company was formed in 1889, it was one of the first power companies in the region. Today it is one of the oldest power companies in the world still to retain its original name and structure.
Now a wholly owned subsidiary of Hongkong Electric Holdings, an associate company of Hutchison, the utility company can look back on nine decades of steady growth and, in the opinion of Hongkong Electric Holdings' group managing director SL. Chen, this trend will continue.
"I am sure that the development of Hong Kong will continue," he says, “and that, despite improved insulation and technology, commercial buildings will continue to require more clectricity for air conditioning, lifts and other services.""
Mr Chen also points out that further growth will be generated as a result of rising standards of living and the expectations of the public. The wider use of domestic appliances and a heightened demand for air conditioning is likely to increase domestic consumption for the foreseeable future.
The company plans to meet this increased demand by further development of its coal-fired Lamma Power Station, with new generating units being commissioned in 1987 and 1988. Its other power station is located on Ap Lei Chau, Aberdeen.
"Hongkong Electric has always had a high reputation for plant efficiency and availability,” points out Mr Chen. "The new units will maintain this reputation, as they will incorporate all the latest and most innovative technology.”
But Hongkong Electric Holdings is more than just a power generation and supply company. It is a group that covers the activities of profitable subsidiaries involved in finance, property and engineering consultancy work.
Growth is forecast for Associated Technical Services, the engineering consultancy and project management subsidiary which has a strong base in the power company's work.
“ATS is well placed to participate in the development of power stations in China,” says Mr Chen. “In fact, the firm has in the past made successful forays into the Middle East and South East Asia and, with burgeoning development across the border, could well repeat these successes."
Hongkong Electric's property sector covers domestic, commercial and warehouse properties through its wholly owned Cavendish Property and through International City Holdings in which Hutchison and Hongkong Electric each owns 50%.
"While we intend to concentrate on developing our three main areas of operation, we are also looking into sound investment opportunities, both in Hong Kong and abroad, to enable us to maintain the high level of growth we have achieved in the last 10 years," comments Mr Chen.
S.L. CHEN, GROUP
MANAGING DIRECTOR OF
HONGKONG ELECTRIC
HOLDINGS.
"Despite improved
insulation and tech-
nology, commercial
buildings will continue
to require more
electricity for air
conditioning, lifts and
other services."
29
HUTCHISON WHAMPOA LIMITED
No comments yet.
Private notes are available after approval.