61-623: Trafalgar House may refer to: Trafalgar House (company) , a defunct British conglomerate Trafalgar House (Wiltshire) , a country house in Wiltshire, England associated with the Earl Nelson family. Trafalgar House, Cottesloe , a State Register of Heritage Place in Cottesloe, Western Australia Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
122-400: A 25 percent stake in the company, leading to Simon Keswick becoming chairman. Trafalgar's fiscal performance remained unsatisfactory throughout the mid-1990s. The Norwegian shipbuilding and engineering group Kværner acquired Trafalgar House on 18 April 1996. In the following years, Kværner divested many of the ex-Trafalgar subsidiaries. The origins of Trafalgar House are closely linked with
183-652: A 50% interest in Maxim's, Hong Kong's leading restaurant chain. Jardine Strategic has a 78% shareholding in Dairy Farm. As of 8 March 2012 , Dairy Farm owned 70% of the shares of Lucky Group, the largest grocery mall operator in Cambodia. Mandarin Oriental Hotel Group is an international hotel investment and management company operating deluxe and first class hotels and residences in city and resort destinations around
244-567: A Group subsidiary for the first time following a multi-year programme of steady open market purchases while Jardine Pacific raised its interest in Hong Kong Air Cargo Terminals Limited from 25% to 42%. In 2018, Jardines sold its 41% interest in Jardine Lloyd Thompson to Marsh and McLennan Companies . With the coming of a new generation of Keswick family leadership, diversification of assets has slowed down and
305-643: A full range of automobile and motorcycle products in partnerships with companies which include Toyota, Daihatsu, Isuzu, UD Trucks, Peugeot and BMW for automobiles, and Honda for motorcycles. Astra also has a strong presence in the automotive component sector through its subsidiary PT Astra Otoparts Tbk. In addition, Astra has interests in financial services; heavy equipment and mining; agribusiness; infrastructure and logistics; and information technology. In financial services, Astra's businesses provide financial products and services to support its automotive, heavy equipment sales, and general and life insurance. Henry Keswick,
366-680: A number of well-known local brands. It has a significant presence in Hong Kong, Macau, Malaysia, Singapore, Taiwan, and Indonesia, and a growing presence in China, India and Vietnam. Dairy Farm operates supermarkets under the banners of Wellcome, Jasons, Shop N Save, Cold Storage, Hero, Yonghui, and MarketPlace; hypermarkets under the Giant brand; health and beauty stores under Mannings and Guardian; IKEA furniture stores in Hong Kong, Macau, Indonesia, and Taiwan; as well as 7-Eleven convenience stores. The group also has
427-624: A presence since 1926. JC&C has an interest of just over 50% in Astra, a listed Indonesian conglomerate and the largest independent automotive group in Southeast Asia, as well as other motor interests in the region. Together with its subsidiaries and associates, Jardine Cycle & Carriage employs 250 000 across Indonesia, Malaysia, Singapore, Vietnam, Myanmar, and Thailand. Jardine Cycle & Carriage operates in Singapore, Malaysia, and Myanmar under
488-621: A press packing plant, and a brewery in Shanghai while expanding into Africa, America, and Australia. When war came to China in 1937 , the firm suffered heavily both in Hong Kong and in mainland China. After the 1949 foundation of the People's Republic of China, trading conditions for foreign companies under the new Communist regime became increasingly difficult. The firm listed in Hong Kong in 1961. The landmark Mandarin Hotel opened in Hong Kong in 1963 as
549-504: A relationship with Commercial Union , which also bought shares in EIPI and prepared to act as a financial backer for new property developments. Almost immediately, EIPI bought a 55 per cent stake in CU's residential property subsidiary Westminster & Kensington Freeholds , thereby acquiring control of a property portfolio of £3.3 million for an equity cost of only £550. During 1963, Trafalgar House
610-410: A well-established UK wide construction division, in exchange for £114 million. As the early 1990s recession approached, Trafalgar continued to invest heavily: some £750 million had been invested in commercial property alone between 1988 and the first half of 1990. Moreover, interest was not being charged to the profit and loss account but capitalised, and substantial borrowings were being carried off
671-492: A wholly owned subsidiary. Jardines today comprises a group of companies with extensive operations across Asia and, through some of its businesses, the world. The firm's business interests include Jardine Pacific , Jardine Motors , Hongkong Land , Dairy Farm , Mandarin Oriental , Jardine Cycle & Carriage , through which its interest in Astra is held. The Group also has strategic interests in other entities. Jardine Pacific
SECTION 10
#1732875761351732-517: A £347 million loss being recorded in 1993, which made Trafalgar itself a potential takeover target. Amid these heavy losses, Broackes stepped down from his position. Trafalgar's far-east associates, Jardine Matheson , invested in Trafalgar House and initially took a fifteen percent stake in the company, which was later increased to twenty-five per cent. The vehicle used for this investment was Jardine's property subsidiary Hong Kong Land . Jardines
793-504: Is a holding company which represents a significant number of the Group's non-listed interests in Asia, principally in engineering and construction, transport services, restaurants and IT services. These include a number of Jardines’ long-standing businesses such as Jardine Engineering Corporation (JEC), Jardine Aviation Services , Hong Kong Air Cargo Terminals , Jardine Schindler (joint-venture with
854-557: Is active in the sales and service of motor vehicles in Hong Kong, Macau, mainland China and the United Kingdom. Subsidiary Zung Fu, which has held the Mercedes-Benz luxury vehicle franchise in Hong Kong for over 50 years, has achieved one of the highest market penetrations in the world for the luxury brand and ranks among its top international performers. The group also represents Smart and Hyundai passenger cars in Hong Kong. Zung Fu
915-499: Is controlled by the Keswick family , a dynasty of Scottish origin; thus Simon Keswick took the chair at Trafalgar House in 1994. Despite this change in management, the company's fortunes continued to slide. On 18 April 1996, Norwegian shipbuilding and engineering group Kværner acquired Trafalgar House following a £904 million offer. The acquisition provided Kvaerner with a broad-based portfolio of companies with 34,000 staff. During
976-534: Is expanding its presence across the growing market of Southern China where it is actively developing a network of Mercedes-Benz dealerships. In the United Kingdom, Jardine Motors is one of the country's largest retail dealership groups with a portfolio of specialist franchises that includes Aston Martin, Audi and Volkswagen, Jaguar and Land Rover, Mercedes Benz and Porsche. Hongkong Land is an Asian property investment, management and development group. Established in Hong Kong in 1889 by Sir Paul Chater and William Keswick,
1037-685: Is given of the scope of industries, operations and companies embraced by Trafalgar House during its existence. The Ritz Hotel in London was acquired by Trafalgar House in 1976. It was subsequently sold to David & Frederick Barclay in exchange for £ 75 million in 1995. In 1980, there was public outcry at the sudden destruction by Trafalgar House of the Art Deco main entrance to the former Firestone tyre factory (designed by Wallis, Gilbert & Partners , 1928–29) in Brentford , which had been torn down over
1098-488: The Keswick family , who are direct descendants of William Jardine's sister Jean through the marriage of her daughter to Thomas Keswick, father of William Keswick , an early Tai-pan of the firm. While the leadership of Jardines is Scottish, the firm is international in its dealings. The staff of Jardines is predominantly Asian, with senior management levels composed of a mixture of British, Chinese, Indonesians, Europeans, Australians and Americans. The Keswicks have maintained
1159-530: The Schindler Group which evolved from JEC's earlier appointment as Schindler 's sole Hong Kong representative), Gammon Construction as well as more contemporary interests that reflect the demands of Asian consumers; among them Pizza Hut restaurants in Hong Kong, Taiwan, Vietnam and Myanmar, KFC franchises in Hong Kong (not part of Yum China or Yum Brands ), Macau and Taiwan. Pizza Hut and KFC operations are under Jardine Restaurant Group. Jardine Motors
1220-565: The Singapore Exchange and Bermuda Stock Exchange . The majority of its business interests are in Asia, and its subsidiaries include Jardine Pacific, Jardine Motors , Hongkong Land , Jardine Strategic Holdings , DFI Retail Group , Mandarin Oriental Hotel Group , Jardine Cycle & Carriage and Astra International . It set up the Jardine Scholarship in 1982 and Mindset, a mental health-focused charity, in 2002. Jardines
1281-564: The 'east coast of England' [a reference to Cambridge] I do feel that men from north of the border are the most suitable for our routine business... I am very keen on keeping the Scottish entity of the Firm. But I hope I have not conveyed that I have swung against the University man... I merely consider that he must be aided and abettered by the solid, plodding type from Scotland." Jardines is controlled by
SECTION 20
#17328757613511342-525: The 1970s and 1980s. However, its decision to continue making heavy investments on the runup to the early 1990s recession , alongside fiscal reporting issues identified by the Financial Reporting Review Panel , led to the company's accounts for 1992 being restated from a £112.5 million profit to a £30 million loss along with a £347 million loss being recorded in 1993. Broackes stepped down as Trafalgar's chairman and Jardine Matheson purchased
1403-592: The August bank holiday weekend to (legally) pre-empt and thus nullify an imminent preservation order under the listed buildings legislation. The company was due to embark on the West Cross Development, an extensive redevelopment of the large industrial site, which would have been seriously hampered by a requirement to maintain both the lengthy architectural facade of the old factory and its broad approach sightlines and boundary features. During 1988, Trafalgar House
1464-464: The Baltic Exchange, was unable to bear the costs of fully restoring the building to English Heritage 's requirements and thus sold the site to Trafalgar House. During 1998, the site was resold, with planning permission , for £81 million to Swiss Re , who commissioned and occupied the renowned Gherkin building , designed by Foster + Partners . Trafalgar bought Ideal Homes in 1967. It had been
1525-660: The British Treasury since May 2010, joined Jardine Matheson as an executive board member in January 2013. This appointment brought together members of two great Asian trading dynasties, since Jardine Matheson and the Sassoon family were rivals in the 19th century when they competed to open up and grow trade in Hong Kong and China. He retired on 9 April 2020. Until 1936, principles of staff recruitment remained Scottish first, Oxbridge second. W. J. Keswick said: "With all due deference to
1586-568: The Cycle & Carriage banner. The group represents some of the world's best-known motoring marques including Mercedes-Benz, Toyota, Honda and Kia. Jardine Strategic has a 72% shareholding in Jardine Cycle & Carriage. Astra is Southeast Asia's largest independent automotive diversified business group with seven primary businesses in Indonesia. Operating predominantly in Indonesia, it is a provider of
1647-580: The United States, and employed 37,000 people. After re-domiciling to Bermuda in 1984 ahead of the 1997 handover of Hong Kong , in 1990 Jardine Matheson Holdings and four other listed group companies arranged primary share listings on the London Stock Exchange in addition to their Hong Kong listings. Other significant developments during this decade included the merging of Jardine Insurance Brokers with Lloyd Thompson to form Jardine Lloyd Thompson ,
1708-552: The acquisition of a 16% interest in Singapore blue-chip Cycle & Carriage and Dairy Farm ’s purchase of a significant stake in Indonesia's leading supermarket group Hero . Hotel brand Mandarin Oriental also embarked on a strategy to double its available rooms and improve returns. The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in Astra International , which has since been increased to just over 50%. Hongkong Land became
1769-574: The activities of Nigel Broackes , an entrepreneur whose interests in share dealing and small scale property development brought him into contact with the directors of the Eastern International Investment Trust , a small trust quoted on the London Stock Exchange . During 1959, Broackes acquired a 42 per cent holding in Eastern's property subsidiary, Eastern International Property Investments (EIPI). Two years later, Broackes formed
1830-403: The balance sheet. during 1991, the Financial Reporting Review Panel threatened to apply for a court order that would require Trafalgar to charge a £142.5 million reduction in asset values through the profit and loss account rather than through reserves, which eventually led to directors restating their 1992 accounts from a £112.5 million profit to a £30 million loss. Massive provisions led to
1891-399: The cargo fleet had shrunk to eighteen, half of which were by then container ships, while the size of the passenger fleet had remained constant. In 1964, Trafalgar House bought 49 percent of Bridge Walker (increased to full ownership in 1967). At the end of the following year it bought Trollope & Colls . From then on the prime umbrella operating division, in terms of turnover and revenue,
Trafalgar House - Misplaced Pages Continue
1952-800: The chairman of Trafalgar House throughout much of its existence, played a key role in the company's emergence during the late 1950s and early 1960s. Broackes worked with the Eastern International Investment Trust and Commercial Union to build a portfolio of assets that would be the initial footings of the company. Shortly after its floatation during 1963, Trafalgar House leveraged the issuing of shares to fuel its acquisition of various other businesses, which included The Cementation Company , John Brown Engineering , Cleveland Bridge , Redpath Dorman Long , Ideal Homes , Comben Homes , Broseley Homes , Cunard , British Rail Engineering Limited , and Express Newspapers . Trafalgar's growth strategy consisted of direct investments and acquisitions continued throughout
2013-501: The city's first five star hotel. In 1970, Jardine Fleming, the first merchant bank in Asia, opened for business while a real estate company and sugar plantations in Hawaii and the Philippines were acquired. A Hong Kong building boom in the mid 1970s saw Jardine's buy Gammon Construction , the largest construction and civil engineering group on the island. A presence was re-established on
2074-461: The company's Tai-pan from 1970 (aged 31) to 1975 and the 6th Keswick to be Tai-pan of the company, is chairman emeritus. His brother, Simon, was the company's Tai-pan from 1983 to 1988 and was the 7th Keswick to be Tai-pan. Both brothers are the 4th generation of Keswicks in the company. The 5th generation of Keswicks are also active within the organisation. Ben Keswick, son of Simon, is executive chairman of Jardine Matheson Group and from 2012 to 2021
2135-516: The construction and engineering sectors. These would form a corporate group, the creation and performance of which was largely attributed to Broackes, who gained a reputation as a particularly successful financier. An acquisition with significant long term consequences for the company was a 49% share of Bridge Walker in 1964 (increased to full ownership in 1967). Bridge Walker had been carrying out much of Trafalgar's construction work but, apart from giving Trafalgar House its own contracting experience,
2196-463: The course of thirty years or so, Trafalgar House became a formidable international industrial and commercial undertaking. During the final few years of its existence, it was consistently tabled as the largest contracting organisation in the UK. A conglomerate by nature is usually a dynamic entity and fluid in its structure and content. For the purpose of this historical perspective, a general indication only
2257-509: The deal also brought in the owner, Victor Matthews , later to become Trafalgar's group managing director. With Matthews and Broackes working together, acquisitions became high-profile. In that same year Trafalgar House bought Ideal Homes ; Ideal had been the largest private house builder in the UK before the Second World War ; under its new ownership, it soon expanded once again. The long-established London contractor, Trollope & Colls ,
2318-474: The firm has focused more on consolidation of existing properties. Contrary to public perception of the firm avoiding investing into mainland China, preferring instead to seek profits in Southeast Asia, its subsidiary Hongkong Land spent 4.4 billion dollars buying a plot of land in Shanghai which, according to Jonathan Galligan of CLSA , signifies its commitment to doing business in mainland China. Moreover, according to informal calculations by Bloomberg , in 2019
2379-406: The firm, by then having morphed through Cox & Beale, Beale & Company and Beale & Magniac into Magniac & Company, and the original partners long gone, in 1825 at the invitation of principal Hollingworth Magniac . University of Edinburgh graduate James Matheson joined three years later as Magniac prepared to retire. With the cession of Hong Kong under the 1842 Treaty of Nanking ,
2440-484: The firm, by then named Jardine, Matheson & Company, set up its headquarters on the island and grew rapidly, smuggling illegal opium from British-controlled India into China. Jardine Matheson has been called the "most successful opium smuggling company in the world". Both Jardine and Matheson became members of Parliament in Britain, and Matheson also bought the entire Scottish island of Lewis , clearing over 500 families off
2501-492: The group today has property interests across the region. In Hong Kong, the group owns and manages approximately 9,140,000 square feet (850,000 m ) of prime commercial space in Central . In Singapore, it is helping to create the city-state's Central Business District with an expanding joint venture portfolio of new developments. In addition to commercial properties, Hongkong Land also develops residential properties in key cities around
Trafalgar House - Misplaced Pages Continue
2562-539: The land and shipping them to Canada in order to build Lews Castle . Continuing its longstanding trade in smuggled opium , tea, and cotton, the firm diversified into other areas including insurance, shipping, and railways. By the mid-19th century, the company had become the largest of the hongs or foreign trading conglomerates with offices in all the important Chinese cities as well as Yokohama , Japan. One of its branch agencies, Glover and Co. , established in Nagasaki ,
2623-410: The late 1990s and into the early 2000s, Kvaerner elected to divest itself of numerous divisions that it had acquired through its purchase of Trafalgar. Jardine Matheson Jardine Matheson Holdings Limited (also known as Jardines ) is a Hong Kong –based, Bermuda -domiciled British multinational conglomerate . It has a primary listing on the London Stock Exchange and secondary listings on
2684-656: The mainland in 1979 following China's reform and opening up and a year later the firm established the Beijing Air Catering, the first foreign joint venture in the country since 1954. During the 1970s Jardines also expanded their insurance interests with acquisitions in the United Kingdom and the United States laying the groundwork for the foundation of Jardine Insurance Brokers. By 1980, the firm had operations in southern Africa, Australia, China, Great Britain, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, as well as
2745-411: The pre-eminent private housebuilder before the Second World War , recording sales in excess of 5,000 houses per year but, by the time of the acquisition, it was building little more than 1,000 per year. New management enabled Ideal to grow again and the size of the division was increased by the acquisition of two other large housebuilders: Comben Homes in 1984 and Broseley Homes in 1986. By 1987, Ideal
2806-479: The purchase of hotels but the high-profile acquisition was of the Ritz Hotel in 1976. Trafalgar also entered fields that were far removed from its original property development and construction roots with the purchase of Cunard in 1971 and Beaverbrook's Express Newspapers in 1976. Matthews' attentions were largely focussed on Express and this was floated as a separate entity in 1982 with Matthews as chairman. In
2867-636: The purchaser's requirements, including the site plan, the production capacity, the raw material feedstock, and other constraints. During 1989, Trafalgar House purchased a 40% shareholding in British Rail Engineering Limited (BREL). Three years later, the stake in BREL was sold to fellow shareholder Asea Brown Boveri . In 1992, Trafalgar House acquired the Davy Corporation, a group of international engineering companies which also included
2928-593: The region including Hong Kong, mainland China, Macau and Singapore where its subsidiary MCL Land is a significant property developer. Jardine Strategic has a 53% shareholding in Hongkong Land. DFI Retail Group traces its origins in Hong Kong back to the 19th century when it was involved in the production of dairy products and ice. Today the company is a leading pan-Asian retailer. The Dairy Farm group's retail operations range from grocery retail and health and beauty stores to convenience and home furnishings, operating under
2989-455: The share of company profits from mainland business ventures is the third largest at 255.4 million USD. All in all, as of 2021 the company's annual report states that 55% of its profits come from China, as opposed to 42% and 3% earned in Southeast Asia and the rest of the world respectively. Following a restructuring of the complex shareholding system designed to prevent a hostile takeover in 2021, Jardine Matheson consolidated Jardine Strategic as
3050-490: The title Trafalgar House . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Trafalgar_House&oldid=473461626 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Trafalgar House (company) Trafalgar House
3111-534: The top 200 publicly traded companies in the world, as valued by market capitalisation . The firm of Jardine, Matheson & Company emerged in 1832 from an evolving process of partnership changes in the trading business Cox & Reid, a partnership established in 1782 between John Cox and John Reid , the latter having been agent of the Austrian trading company, Trieste Company . University of Edinburgh Medical School graduate William Jardine (1784–1843) joined
SECTION 50
#17328757613513172-519: The world. The group's flagship hotel, Mandarin Oriental, Hong Kong, has been recognised as one of the world's leading hotels since shortly after its opening in 1963 along with the equally world-renowned Mandarin Oriental, Bangkok, previously known as The Oriental. Jardine Strategic has a 79% shareholding in Mandarin Oriental. Jardine Cycle & Carriage (JC&C) is an established Singapore-listed company where, as Cycle & Carriage, it has had
3233-521: Was floated on the London Stock Exchange , at which point Commercial Union owned 46 per cent of the business while Broackes held a 21 per cent stake. The existence of a public quotation enabled Trafalgar House to issue shares for acquisition, a facility that Broackes made extensive use for the company to become a formidable international industrial and commercial undertaking. Both acquisitions and direct investments were primary vehicles used for growth; typical targets of attention were businesses operating in
3294-415: Was Tai-pan. Adam Keswick, son of Sir Chips Keswick was Deputy managing director. The organizational structure of Jardines has changed fundamentally since its foundation, but the members of the family of Dr. William Jardine still have significant influence in the firm. As of 2021, the directors of Jardine Matheson Holdings were: Lord Sassoon , a former UBS Warburg banker who had been a junior minister in
3355-551: Was Trafalgar House Construction; generally referred to both inside the company and within the industry as 'THC'. As the division grew in scope and stature it was responsible for more and more large international projects. In 1986, Trafalgar House acquired John Brown Engineering, which built industrial gas turbines and also implemented licensed processes, such as the Union Carbide Corporation Polyethylene Plant. The basic processes were engineered to fit
3416-479: Was a British conglomerate with interests in property investment , property development , engineering, construction, shipping, hotels, energy and publishing . It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index . During its later years of operation, it was routinely referred to as being the largest contracting organisation in the UK. The entrepreneur Nigel Broackes , who would be
3477-461: Was acquired at the end of the year. Trafalgar House continued to expand across a period of 20 years, during which time acquisitions played a major role. In the construction and engineering sector, these included The Cementation Company , John Brown Engineering , Cleveland Bridge and Redpath Dorman Long . Housebuilding saw the acquisition of two top ten housebuilders, Comben Homes and Broseley Homes . Trafalgar’s property development had led to
3538-640: Was again selling around 5,000 houses per year. During the mid 1990s, Ideal proved to be an attractive prospect for several companies to acquire from Trafalgar, although the sales process proved to be somewhat challenging. Trafalgar House acquired the Cunard group of shipping and leisure companies in 1971. At the time of the acquisition, Cunard operated cargo and passenger ships, hotels and resorts; its fleet comprised forty-two active cargo ships, with fourteen more under construction, as well as three passenger ships, with two more under construction. But, twelve years later,
3599-506: Was involved in a joint development with British Aerospace to redevelop the former Royal Small Arms Factory site at Enfield to create Enfield Island Village . In 1995, it bought the bomb-damaged site of the historic Baltic Exchange building , at 30 St Mary Axe in London, which had been severely damaged when the Provisional Irish Republican Army detonated a bomb nearby on 10 April 1992. The building's former owner,
3660-676: Was known in Japan as an arms dealer who contracted with then-rebel forces from Chōshū Domain who led the Meiji Restoration in 1868. Jardine Matheson invested in the first commercial railroad in China , the Wusong-Shanghai railroad . It was built in July 1876, bought by the Qing dynasty the next year, and demolished the next year. In the early decades of the 20th century, Jardines built cotton mills,
3721-419: Was one of the original Hong Kong trading houses or Hongs that date back to Imperial China . 58 percent of the company's profits were earned in China in 2019. The company is controlled by the Keswick family , who are descendants of co-founder William Jardine's older sister, Jean Johnstone. Jardine Matheson is a Fortune Global 500 company. In 2013, both Jardine Matheson and Jardine Strategic were among
SECTION 60
#1732875761351#350649