redirected from towngas telecom jump to navigation search the hong kong & china gas co ltd. type public traded as sehk 0003 otc pink hokcy industry public utility founded hong kong 1862 ; 154 years ago 1862 headquarters quarry bay hong kong key people lee shau kee chairman alfred chan managing director products gas supply water supply emerging environmentally friendly energy telecommunications revenue hkd 31 615m 2014 net income hkd 7 109m 2014 number of employees 2 331 2014 website towngas.com footnotes references 41.51 % associate of henderson land development the hong kong and china gas company limited traditional chinese simplified chinese transcriptions standard mandarin hanyu pinyin xi ngg ng zh nghu m iq y uxi ng ngs yue cantonese jyutping hoeng1 gong2 zung1 waa4 mui4 hei3 jau5 haan6 gung1 si1 the gasometer of the company at ma tau kok hong kong . the hong kong and china gas company limited chinese commonly known as towngas traditional chinese ; simplified chinese ; jyutping mui4 hei3 ; pinyin m iq is the sole provider of towngas in hong kong . founded in 1862 it is one of the oldest listed companies in the territory . it is the leading public utility in hong kong and supplies towngas to 85 % hong kong households and also to commercial and industrial customers . it has over 200 projects in mainland china including city gas water supply emerging environmentally friendly energy and telecommunications . it also engages in property development projects namely international finance centre 15 % share grand promenade 50 % share and grand waterfront in hong kong with its largest shareholder . according to official documents henderson land development co. ltd hld is the company s largest shareholder owning 41.51 % of the issued shares of the company as at 31 december 2014 . lee shau kee chairman of hld is also the chairman of the company . contents 1 history 2 gas production and network 3 usurpation by ultimate parent 4 exploration operations 5 accidents 6 see also 7 references 8 notes 9 external links history edit in february 1862 the concession to supply gas to the city of victoria the centre of which now referred to as central was obtained from then governor sir hercules robinson by william glen a newcomer to the gas industry . 1 incorporation took place on 3 june 1862 and by 3 december 1864 that year there were 15 miles 24 km of pipes and 500 gas lamps along queen s road and upper valley road . in kowloon residents continued to rely on candles and oil lamps until gas was laid on 28 years later . the company s original generating plant the first in asia stood on the waterfront at west point near whitty streeta and provided gas for lighting to government offices and army barracks as well as jardine s offices the the hong kong dispensary and the hong kong hotel . the plant was coal fired and produced 120 000 cubic feet 3 400 m3 of gas per day . it was run directly from britain until 1954 when a majority shareholding was purchased by local firm wheelock and marden company limited who moved the company s registered domicile from the uk to hong kong . as of 2011 the only surviving four gas lamps installed by the company are situated at the top and bottom of a flight of broad granite steps linking ice house street and duddell street . these are still maintained by towngas while the site is one of the declared monuments of hong kong . 2 gas production and network edit the company imports natural gas from australia by sea and stores it at the dapeng liquefied natural gas lng terminal in shenzhen under a 25 year contract . a 34 kilometre 21 mi submarine pipeline connects the dapeng terminal to towngas tai po plant . 3 the tai po plant produces 97 % of town gas while the remaining 3 % is produced at the ma tau kok plant . 4 the two plants cover 1.8 million households via a network of more than 3 500 kilometres 2 200 mi of pipelines throughout hong kong . 5 treated gas from landfill sites is also utilised as fuel to reduce emission of greenhouse gases . in hong kong town gas is produced from naphtha and natural gas . its major components are hydrogen 49 % methane 28.5 % carbon dioxide 19.5 % and a small amount of carbon monoxide 3 % . 3 usurpation by ultimate parent edit on 3 october 2007 hld proposed to pay market value only to gain control of towngas . the 39.06 percent stake in towngas held by subsidiary henderson investment was valued at hk 42.86 billion in cash and convertible notes for the purposes of the transaction . minority shareholders of henderson investment who together hold 30.73 % would receive 204.1 million henderson land shares and hk 1.19 billion in cash . the offer was considered by analysts to be favourable to the company and shareholder activist david webb criticised the deal saying henderson was acquiring the stake on the cheap without paying any control premium to minority shareholders of henderson investment . webb further criticised the nature of the offer as a back door privatisation of henderson investment which would virtually be a shell company after the transfer of the stake . 6 on 7 november henderson sweetened the offer to appease minority shareholders by increasing the cash portion to hk 2.24 per share who threatened to vote down the proposal . 7 on 7 december 2007 henderson secured shareholders support for the usurpation . 8 exploration operations edit towngas in 2008 agreed to a joint venture with sunpec and shaanxi yanchang petroleum to develop block 3113 in madagascar with technical assistance from yunnan kaiyuan oil and gas . the venture was success leading to the discovery of light oil in november 2009 . this block along with block 2104 have estimated oil reserves of 5.6 billion barrels and natural gas reserves of 66 billion cubic meters . 9 accidents edit on 11 april 2006 an explosion caused by leaking towngas in ngau tau kok killed two people and injured nine more . 10 see also edit henderson land development towngas china towngas telecom energy in hong kong references edit waters dan 1990 . hongs kong s hongs with long histories and british connections pdf . journal of the royal asiatic society hong kong branch . 30 247 256 . issn 1991 7295 . p. 221 duddell street steps & gas lamps . antiquities and monuments office government of hong kong . retrieved 13 april 2011 . a b tai po gas production plant pdf . the hong kong and china gas company limited . retrieved 1 february 2014 . towngas gas production . the hong kong and china gas company limited . retrieved 1 february 2014 . towngas network . the hong kong and china gas company limited . retrieved 1 february 2014 . cheung victor 4 october 2007 . henderson makes 42.86 b offer for towngas control . the standard . hong kong . retrieved 4 october 2007 . victor cheung henderson land all set to take over towngas the standard 9 november 2007 victor cheung henderson land gets control of towngas the standard 8 december 2007 10antananarivo72 chinese engagement in madagascar and comoros . wikileaks . legislative council panel on economic services gas safety pdf . economic development and labour bureau . 22 may 2006 . retrieved 12 april 2011 . notes edit a named after the plant s first manager r.c. whitty external links edit wikimedia commons has media related to towngas . official website eastsouthwestnorth the gas explosion in hong kong explosion photos v t e hang seng index companies of hong kong finance hsbc holdings hang seng bank bank of east asia hkex china construction bank aia industrial and commercial bank of china ping an insurance boc hong kong holdings china life insurance company bank of communications bank of china utilities clp holdings hong kong and china gas power assets holdings china resources power property henderson land development sun hung kai properties new world development sino land hang lung properties china overseas the link reit china resources land ck property commercial and industrial ckh holdings wharf holdings hutchison whampoa swire pacific mtr corporation kunlun energy china merchants want want china citic limited china resources cathay pacific tingyi esprit holdings sinopec li & fung tencent holdings china unicom cnooc limited petrochina china mobile hengan china shenhua belle galaxy entertainment sands china lenovo mengniu v t e s & p asia 50 companies aia group boc hong kong holdings cathay financial holding china construction bank china life insurance china mobile china petroleum & chemical china steel chunghwa telecom ck hutchison holdings clp holdings cnooc limited ctbc financial holding dbs group delta electronics formosa chem & fibre formosa plastics fubon financial holding galaxy entertainment group hang seng bank hon hai precision industry hong kong and china gas hong kong exchanges and clearing hyundai heavy industries hyundai mobis hyundai motor industrial and commercial bank of china jardine matheson kb financial group keppel kia motors kt & g lg chem li & fung lippo group mediatek nan ya plastics oversea chinese banking corporation petrochina ping an insurance posco power assets holdings samsung electronics sands china shinhan financial group singapore telecommunications sun hung kai properties taiwan semiconductor manufacturing united overseas bank want want china holdings retrieved from https en.wikipedia.org w index.php title the hong kong and china gas company & oldid 743069406 categories hang seng index constituent stockscompanies listed on the pink sheetscompanies listed on the hong kong stock exchangeservice companies of hong kongcompanies established in 1862oil and gas companies of hong konghistory of foreign trade in chinawarrants issued in hong kong stock exchangehenderson land developmenttelecommunications companies of hong kong1862 establishments in hong konghidden categories engvarb from august 2014use dmy dates from august 2014articles containing traditional chinese language textarticles containing simplified chinese language textcommons category with local link 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