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across the region. In Hong Kong, the group owns and manages approximately 9,140,000 square feet
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(850,000 m2) of prime commercial space in Central. In Singapore, it is helping to create the
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city-state's Central Business District with an expanding joint venture portfolio of new
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developments. In addition to commercial properties, Hongkong Land also develops residential
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properties in key cities around the region including Hong Kong, mainland China, Macau and Singapore
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where its subsidiary MCL Land is a significant property developer. Jardine Strategic has a 50%
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shareholding in Hongkong Land.
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DFI Retail Group
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DFI Retail Group traces its origins in Hong Kong back to the 19th century when it was involved in
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the production of dairy products and ice. Today the company is a leading pan-Asian retailer. The
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Dairy Farm group's retail operations range from grocery retail and health and beauty stores to
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convenience and home furnishings, operating under a number of well-known local brands. It has a
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significant presence in Hong Kong, Taiwan, Malaysia, Singapore and Indonesia, and a growing
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presence in mainland China, India and Vietnam. Dairy Farm operates supermarkets under the banners
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of Wellcome, Jasons, Shop N Save, Cold Storage, Hero, Yonghui, and MarketPlace; hypermarkets under
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the Giant brand; health and beauty stores under Mannings and Guardian; IKEA furniture stores in
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Hong Kong, Indonesia and Taiwan; as well as 7-Eleven convenience stores. The group also has a 50%
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interest in Maxim's, Hong Kong's leading restaurant chain.
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Jardine Strategic has a 78% shareholding in Dairy Farm. , Dairly Farm owned 70% of the shares of
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Lucky Group, the largest grocery mall operator in Cambodia.
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Mandarin Oriental
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Mandarin Oriental Hotel Group is an international hotel investment and management company operating
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deluxe and first class hotels and residences in city and resort destinations around the world. The
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group's flagship hotel, Mandarin Oriental, Hong Kong, has been recognised as one of the world's
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leading hotels since shortly after its opening in 1963 along with the equally world-renowned
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Mandarin Oriental, Bangkok, previously known as The Oriental.
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Jardine Strategic has a 79% shareholding in Mandarin Oriental.
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Jardine Cycle and Carriage
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Jardine Cycle & Carriage (JC&C) is an established Singapore-listed company where, as Cycle &
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Carriage, it has had a presence since 1926.
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JC&C has an interest of just over 50% in Astra, a listed Indonesian conglomerate and the largest
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independent automotive group in Southeast Asia, as well as other motor interests in the region.
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Together with its subsidiaries and associates, Jardine Cycle & Carriage employs across Indonesia,
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Malaysia, Singapore, Vietnam, Myanmar, and Thailand. Jardine Cycle & Carriage operates in
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Singapore, Malaysia, and Myanmar under the Cycle & Carriage banner. The group represents some of
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the world's best-known motoring marques including Mercedes-Benz, Toyota, Honda and Kia. Jardine
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Strategic has a 72% shareholding in Jardine Cycle & Carriage.
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Astra International
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Astra is Southeast Asia's largest independent automotive diversified business group with seven
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primary businesses in Indonesia. Operating predominantly in Indonesia, it is a provider of a full
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range of automobile and motorcycle products in partnerships with companies which include Toyota,
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Daihatsu, Isuzu, UD Trucks, Peugeot and BMW for automobiles, and Honda for motorcycles. Astra also
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has a strong presence in the automotive component sector through its subsidiary PT Astra Otoparts
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Tbk. In addition, Astra has interests in financial services; heavy equipment and mining;
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agribusiness; infrastructure and logistics; and information technology. In financial services,
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Astra's businesses provide financial products and services to support its automotive, heavy
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equipment sales, and general and life insurance.
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Corporate structure
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Henry Keswick, the company's Tai-pan from 1970 (aged 31) to 1975 and the 6th Keswick to be Tai-pan
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of the company, is chairman emeritus. His brother, Simon, was the company's Tai-pan from 1983 to
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1988 and was the 7th Keswick to be Tai-pan. Both brothers are the 4th generation of Keswicks in
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the company. The 5th generation of Keswicks are also active within the organisation. Ben Keswick,
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son of Simon, is executive chairman of Jardine Matheson Group and from 2012 to 2021 was Tai-pan.
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Adam Keswick, son of Sir Chips Keswick was Deputy managing director. The organizational structure
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of Jardines has changed fundamentally since its foundation, but the members of the family of Dr
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William Jardine still have significant influence in the firm.
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Directors As of 2021, the directors of Jardine Matheson Holdings were:
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Ben Keswick, executive chairman John Witt, managing director Y.K. Pang Graham Baker
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Stuart Gulliver David Hsu Julian Hui Adam Keswick Alex Newbigging Anthony Nightingale
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Jeremy Parr Percy Weatherall Michael Wei Kuo Wu
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Lord Sassoon, a former UBS Warburg banker who had been a junior minister in the British Treasury
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since May 2010, joined Jardine Matheson as an executive board member in January 2013. This
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appointment brought together members of two great Asian trading dynasties, since Jardine Matheson
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and the Sassoon family were rivals in the 19th century when they competed to open up and grow trade
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in Hong Kong and China. He retired on 9 April 2020.
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Scottish leadership
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Until 1936, principles of staff recruitment, told by Keswick, remained Scottish first, Oxbridge
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second. "With all due deference to the 'east coast of England' [a reference to Cambridge] I do feel
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that men from north of the border are the most suitable for our routine business... I am very keen
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on keeping the Scottish entity of the Firm. But I hope I have not conveyed that I have swung
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against the University man... I merely consider that he must be aided and abettered by the solid,
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plodding type from Scotland."
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Jardines is controlled by the Keswick family, who are direct descendants of William Jardine's
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sister Jean through the marriage of her daughter to Thomas Keswick, father of William Keswick, an
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early Tai-pan of the firm. While the leadership of Jardines is Scottish, the firm is international
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in its dealings. The staff of Jardines is predominantly Asian, with senior management levels
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composed of a mixture of British, Chinese, Indonesians, Europeans, Australians and Americans.
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The Keswicks have maintained a relationship with another prominent Scottish family, the Flemings,
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of which the author Ian Fleming was also a member. From 1970 until 1998, Jardine Matheson operated
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a pan-Asian investment banking joint venture, Jardine Fleming, with Robert Fleming & Co., a London
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merchant bank controlled by the Fleming family. In 2000, Jardine Fleming and Robert Fleming & Co.
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were sold to JP Morgan Chase.
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Influence
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Jardines' history was the inspiration for a series of novels written by James Clavell, including
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Tai-Pan, Whirlwind, Gai-Jin, and Noble House. The Noble House TV miniseries actually used Jardine
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as the headquarters of Struan's & Co., the fictional company depicted in Clavell's novels. In
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Taipan, Dirk Struan is loosely based on William Jardine while Robb Struan is loosely based on James
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Matheson.
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Jardines installed the first elevator in China in the northern city of Tianjin.
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Many streets in present-day Hong Kong are named after the firm, its founders and past Tai-pans,
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mostly concentrated in Hong Kong's East Point and Causeway Bay Districts, where Jardines' offices
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were located in the early days. The name of Yee Wo Street in comes from Jardine's Chinese name
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"Ewo" whilst other streets associated with the company include Jardine's Bazaar, Jardine's
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Crescent, Jardine's Bridge, Jardine's Lookout, Matheson Street, Leighton Road, Percival Street and
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Paterson Street.
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Jardines is responsible for maintaining the tradition of firing the Noonday Gun, a duty said to
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have been imposed on them by a new Senior Naval Officer on hearing them fire a salute for the
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Taipan when his schooner arrived in Hong Kong as they had no official authority to fire salutes.
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The practice was immortalised in Noël Coward's song "Mad Dogs and Englishmen".
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See also List of trading companies Notes