Press Statement

Notice of Annual General Meeting



2014 Annual Report

Corporate Magazine


Founded in 1886, The Wharf (Holdings) Limited (Stock code: 4) is a premier company with HK$415.0 billion of consolidated assets and a strategic focus on property and infrastructure in Hong Kong and the Mainland. It is a subsidiary of Wheelock and Company Limited (Stock code: 20).

Backed by a long standing mission of ;Building for Tomorrow; and a distinguished track record, the Group has produced consistent and quality growth over the years. Wharf is among the top local blue chip stocks that are most actively traded, signalling high liquidity and attractiveness for investors. In addition, through years of value creation and new investment, the book value of the Group・s investment property portfolio as at 31 December 2013 totalled HK$261.1 billion, which ranked top three globally as disclosed by property peers, and rose to HK$269.6 billion at 30 June 2014. The portfolio represented 75% of the Group・s underlying profit.

With prime real estate as the Group・s primary strategic focus, site acquisition, financing, development planning, design, construction and marketing are its core competencies. Mall development and retail management remain its strategic differentiation.

Under the Group's leadership in retail management, Harbour City and Times Square have become renowned landmarks. The two malls combined command an unmatched 9% of total Hong Kong retail sales, underscoring the Group's continued leadership in the marketplace.

Wharf・s mission of Building for Tomorrow underlines the Group・s asset expansion programme in recent years. The new base includes a land bank of 11.1 million square metres across 15 cities, a fast emerging hotel business and valuable port assets in China.

In China, a portfolio of five International Finance Squares (:IFS;) under development will multiply the Group・s commercial properties and retail area in Hong Kong and China as well as significantly strengthen Wharf・s recurrent income base in China upon completion by 2017.

The IFS retail malls in Chengdu and Changsha, with an aggregate retail area of 440,000 square metres, will be equivalent to the creation of more than two Harbour City malls. Chengdu IFS・ shopping complex, a new landmark in this Capital of China West, officially opened in mid-January 2014. That in Changsha IFS is scheduled for completion in 2016. Three other IFS projects are also being built in Chongqing, Wuxi and Suzhou.

For China Development Properties, a total of 45 development projects (including five newly launched projects in Suzhou, Hangzhou, Chengdu, Wuhan and Shanghai) spanning 14 cities were offered for sale or pre-sale in the first half of 2014.

The Group・s Marco Polo Hotels operates 13 hotels in the Asia Pacific region, four of which owned by the Group. A solid portfolio of the Group・s 11 owned hotels (including seven new hotels in the Mainland at a total investment of more than HK$10 billion) will serve as a core platform of an expanding hotel network in five years・ time.

Also contributing to Wharf・s presence in the Mainland are key port assets along the China coast, the most dynamic coastline in the world for cargo movement in the coming decades.

"Building for Tomorrow" also extends to Wharf・s corporate social responsibility. In addition to its flagship school improvement programme :Project WeCan;, the Group has supported a series of worthy :Business in Community; initiatives, in which staff volunteering plays a pivotal role. Much effort has been put into promoting professionals, retirees and citizens in community to play a part. In 2014, Wharf was awarded :Caring Company; logo by The Hong Kong Council of Social Service and was continuously named a constituent member of the Hang Seng Sustainability Benchmark Index in recognition of the Group・s sound performance in CSR.

In recognition of our excellent management and solid financial track record, the Group garnered numerous awards including being ranked the sixth in the :FAB 50; by Forbes Asia, the :Best Managed Company-Conglomerates; in the Asia Best Managed Companies 2014 by Euromoney and some more.