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Hopewell Holdings Limited (), established on 17 October 1972, is a major

property developer in Hong Kong Since the British colonialisation in 1841 after the First Opium War, Hong Kong has grown from a stony outcrop on the southern coast of China to a territory whose property prices are among the highest in the world. The territory has a land mass of . ...

headed by Sir

Gordon Wu Sir Gordon Wu Ying-sheung,Gordon WU Ying-Sheung biography
- website o ...

History

It was listed on the

Hong Kong stock exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...

s in 1972 and delisted when taken private in 2019. 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 Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020 ...

province of

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...

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 Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...

, including the failed

Bangkok Elevated Road and Train System The Bangkok Elevated Road and Train System (BERTS, th, โครงการระบบการขนส่งทางรถไฟยกระดับในกรุงเทพมหานคร), commonly known as the Hopewell Project (โ� ...

(BERTS) project in

Bangkok Bangkok, officially known in Thai as Krung Thep Maha Nakhon and colloquially as Krung Thep, is the capital and most populous city of Thailand. The city occupies in the Chao Phraya River delta in central Thailand and has an estimated populati ...

. It holds 68 percent of

Hopewell Highway Infrastructure Ltd Hopewell Highway Infrastructure Limited (HHI; ), , , controlled by Hong Kong tycoon Gordon Wu, is the highway unit of Hong Kong-listed conglomerate Hopewell Holdings Ltd. HHI has interests in two toll road projects in China, including the Guangzh ...

, which is spun off by Hopewell Holdings and listed on the Hong Kong Stock Exchange in early August, 2003. 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 , all of which are in the

Pearl River Delta The Pearl River Delta Metropolitan Region (PRD; ; pt, Delta do Rio das Pérolas (DRP)) is the low-lying area surrounding the Pearl River estuary, where the Pearl River flows into the South China Sea. Referred to as the Guangdong-Hong Kong-Ma ...

region of Guangdong Province in mainland China. Four toll road projects are in operation while construction of the Phase I of the

Guangzhou Guangzhou (, ; ; or ; ), also known as Canton () and Chinese postal romanization, alternatively romanized as Kwongchow or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, sou ...

Zhuhai Zhuhai (, ; Yale: ''Jyūhói''), also known as Chuhai is a prefecture-level city located on the west bank of Pearl River estuary on the central coast of southern Guangdong province, People's Republic of China, on the southeastern edge of P ...

West Superhighway (Guangzhou to

Shunde Shunde District, also known as Shuntak, is a district of the city of Foshan, Guangdong province, located in the Pearl River Delta. It had a population of 2,464,784 as of the 2010 census. Once a traditional agricultural county, it has become one ...

section) commenced in December 2001. All of the projects are in the form of co-operative

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

s between Hopewell and Chinese partners. * Guangzhou-Shenzhen Superhighway (

Guangshen Expressway Guangshen Expressway (), also known as the Guangshen Coastal Expressway is an expressway that connects the cities of Guangzhou, Dongguan and Shenzhen in the Chinese province of Guangdong. The expressway begins at Huangcun Bridge, north of Gu ...

) * 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

. 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. 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.

References

External links