Power Assets Holdings
Power Assets Holdings Limited is a Chinese company based in Hong Kong. The company is listed on the Hang Seng Index. Hongkong Electric was the first company in the current offering as a provider in Hong Kong.
History
The activities of the Hong Kong Electric Company date back to the 19th century. The company was founded in 1890. Initially, the company's production of Sir Paul Chater Catchick was controlled as an informal member of the Company Board. On December 1, 1890 by 18 clock the first electric street light shone in the center of Hong Kong. The first power plant was built in Wan Chai. The second power plant originated in North Point in 1919 and the third power plant was built in Ap Lei Chau 1968.
The Chinese company, Hongkong Land ( HKL), which owned 34 percent of Hongkong Electric, as a result of a painful restructuring in January 1985 had to sell his share. New majority owner of Hongkong Electric, the company was Cheung Kong Holdings.
Subsidiaries and Investments
- ETSA Utilities, Australia - 27.93 % share (purchased Jan. 2000 )
- Powercor Australia, Australia - 27.93 % share (acquired in September 2000 )
- CitiPower, Australia - Percentage 27.93 % (acquired July 2002) and jointly owned by Cheung Kong International
- Ratchaburi Power Company Limited, Thailand - 25 % share together with Ratchaburi Power Company
- Northern Gas Networks Limited, UK - 41.29 % share (acquired June 2005)
- Associated Technical Services Limited
- ' Wellington Electricity Distribution Network - 50 % share ( acquired in 2007 )