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Thistle
vol.1 2010
The Magazine of Jardine Matheson
Creativity Focus in 2010 Pride in Performance Awards
> page 3
One Central Macau Sets New Standards
> page 8
Multiple Honours for Wellcome
> page 21
Jardine Matheson Group –
A Focus on Southeast Asia
Becoming Even Stronger As we enter the Year of the Tiger, the Group remains in a very strong financial position and well positioned to take advantage of opportunities for growth. This is especially so in East Asia, which is widely seen as the engine of global growth and where the Group has a major presence. As the feature on pages 12-19 reflects, our business activities in Southeast Asia in particular have increased significantly over the last decade. In addition to our traditional markets of Singapore, Malaysia, Thailand and the Philippines, we have also developed a major presence in the important Indonesian market and become active in Vietnam, Brunei and Cambodia. The Group is keen to expand in all of these countries when suitable opportunities present themselves and to grow stronger as the Region prospers. Anthony Nightingale
CONTENTS
At the Centre 2
Creativity Focus in 2010 Pride in Performance Awards
Asia Pacific Regional Board Meeting
Group in Strong Financial Position …
Leadership 6
Mandarin Oriental Opens in Barcelona
One Central Macau Sets New Standards
JLT Raises Profile of Risk Management in Asia
Special Events to Launch the New Mercedes-Benz
6
E-Class in Singapore …
Feature 12
Jardine Matheson Group – A Focus on Southeast Asia
Performance 20
7-Eleven South China Celebrates 17th Anniversary and
550th St0re
Multiple Honours for Wellcome
Group Companies Shine in Service and Courtesy Awards
23
Spotlight on Kia in Singapore and Vietnam …
Spirit 26
MINDSET Funds Ongoing Support for Sichuan
Earthquake Victims
Dairy Farm CARE Raises Funds for MINDSET
JETS Team Brings First Matilda Sedan Chair Race
Victory for Jardines
29
Guardian Celebrates Anniversary with Charity Bonanza …
People 32
Senior Group Finance Appointments
Gold Bauhinia Star for Honorary Chairman of Maxim’s Group
Group Leadership Coaching Course Helps to Transfer Expertise …
Enterprise at Work … Jardine Engineering Corporation
Creativity Focus in 2010 Pride in Performance Awards Customer Marketing Successful Innovation Business Focus Excellence New Venture and Creativity Outperformance AT THE CENTRE
At the Centre
Creativity Focus in 2010 Pride in Performance Awards
The judging panel for the 2010 Pride in Director Anthony Nightingale, “so we are
Performance (PIP) Awards will be looking not only seeking entries that demonstrate
for a greater element of creativity from excellence in their categories but are also
this year’s entries. looking for an added spark of ingenuity
and originality.” Innovation and Creativity, and Business
“Creativity in business is becoming Outperformance. Entries had to be
more and more important as a means The five award categories for the 2010 PIP submitted by 8th January and judging
of maintaining competitive advantage,” Awards are Customer Focus, Marketing is currently underway with the results
said Jardine Matheson Group Managing Excellence, Successful New Venture, to be announced on 8th March 2010.
Asia Pacific Regional Board Meeting
The Jardine Matheson Group’s 2009 Following an overview of the & Carriage Group Managing Director
Asia Pacific Regional Board meeting Group from Managing Director Ben Keswick gave presentations.
brought together board members, Anthony Nightingale, Group Director
chief executives of the major Lord Leach of Fairford, Jardine Professor Michael Enright and Duncan
business units and country chairmen Matheson China Representative Sparkes of the British Embassy in
at the Mandarin Oriental, Sanya on Adam Williams, Hongkong Land Chief Beijing spoke on the outlook for
Hainan Island. Executive Y K Pang, Group Finance China while Ian Hannam of JP Morgan
Director James Riley and Jardine Cycle Cazenove covered capital markets.
Centre left: Jardine Matheson Group Chairman Sir Henry Keswick and (right) Managing Director Anthony Nightingale with board members, chief executives of the major
business units and country chairmen at the Group’s 2009 Asia Pacific Regional Board meeting.
Group in Strong Financial Position
The Jardine Matheson Group’s Interim The effects of the global economic Hongkong Land’s commercial
Management Statement covering downturn on individual businesses property interests are performing
the period from 1st July to 11th have varied. Improvements have been well. Dairy Farm’s major retail
November 2009 shows it to be in a seen recently in a number of Jardine businesses continued to show
strong financial position with net debt Pacific’s businesses, in particular in its growth. In the face of weakness
remaining low and the Group’s overall engineering and construction activities. in both the corporate and leisure
trading conditions becoming more Jardine Motors’ Hong Kong and mainland segments, occupancy levels remained
positive. The Group’s earnings have China businesses have seen increased poor at Mandarin Oriental’s hotels.
continued to improve and for the period demand. Jardine Lloyd Thompson is Astra’s performance reflects the
under review were ahead of 2008. producing a satisfactory performance. strength of the Indonesian economy.
Michael D Ruslim
The President Director of Astra International, Michael D Ruslim, has passed
away following a short but severe illness.
“Pak Michael was a good friend and trusted colleague,” said Jardine
Matheson Group Managing Director Anthony Nightingale. “He will be hugely
missed by all those who knew and worked with him.”
Mr Ruslim first joined Astra in 1983 and became its inspirational leader
following his appointment as President Director in 2005. He will be
remembered for his many outstanding achievements and his community
involvement, especially in supporting the development of Indonesia.
Group Managing Director of Jardine Cycle & Carriage (JC&C) Ben Keswick said
that the Boards and management of JC&C and Astra were shocked and deeply
saddened by the news of Mr Ruslim’s sudden death.
“Pak Michael played a significant role in developing Astra’s businesses and
steering it through challenging economic conditions to its present strong
financial position,” said Mr Keswick. “During his time as President Director,
he provided excellent leadership to the 116,000 employees of Astra and made
a positive contribution to Indonesia.”
Mr Ruslim is survived by his wife, Ibu Trisni and two children.
Harry Wilken
Harry Wilken, Company Secretary of Jardine Matheson Holdings Limited,
has died after being taken seriously ill when about to return from London
to Bermuda.
A larger than life character, Mr Wilken first joined the Group in 1972 in Hong
Kong as an accountant. In a career spanning 38 years with Jardines he was
based mainly in Hong Kong, apart from spells in Hawaii and the Philippines,
until 1995 when he moved to Bermuda to take up the position of President of
Jardine Matheson International Services and act as the Company Secretary of
a number of the Group’s London-listed companies.
Mr Wilken played an important role in the local community in Bermuda,
where many tributes have been paid to him. He was also active in the island’s
Scottish community, particularly in hosting the St. Andrew’s Day celebrations
in Jardine House.
“I had known Harry since he first joined Jardines,” said Group Managing
Director Anthony Nightingale. “He will be fondly remembered for his warm and
generous personality and for his great contribution to the spirit of the Firm.”
Mr Wilken is survived by his wife, Eileen.
5
At the Centre
Lord Powell Shares
Platform with quality of our services, together with
our participation in airport relocation,
World Leaders
have all contributed to us winning this
Jardine Airport Services new business,” said Enoch Lam, Chief
Taking Off in China Executive of JASG.
Last year marked a milestone for By 2020, it is planned to have 244
Jardine Aviation Services Group (JASG) airports in mainland China. A new
as the group’s efforts to expand into Kunming Airport, which is due to open
mainland China were rewarded with the at the end of 2011, will become the
establishment of its first joint venture fourth largest airport hub in China.
partnership in Yunnan, Kunming.
“Through JASL and Yunnan Airport
Yunnan Airport Service Limited is an Service we hope to play a vital part in
Right: Matheson & Co Director Lord Powell and
World Bank President Robert Zoellick at the
investment with Yunnan Airport Group, this growth, particularly in Kunming
APEC Leaders’ Forum in Singapore. which owns 12 airports in Yunnan which is one of the fastest developing
province and JASG’s ground services areas of the country,” said Mr Lam.
company Jardine Airport Services
Matheson & Co Director Lord Limited (JASL), in which China National Since 1991, JASL has also been
Powell of Bayswater has shared the Aviation Corporation (CNAC) has an contributing to the development of
platform with world leaders at two equal shareholding. The new company aviation services at mainland China
separate events. is now providing passenger handling airports through a training programme
services for 16 domestic and six set up in collaboration with CAAC. This
The first was this year’s Emerging international and regional airlines at facilitates the transfer of technical
Markets Summit in London Kunming Wujiaba International Airport, know-how to management staff from
organized by The Economist which is ranked the seventh busiest mainland airports, airlines and regional
magazine where Lord Powell and airport in mainland China. departments of CAAC. The Hong Kong-
Thailand’s Deputy Prime Minister based programme has trained more
Korn Chatikavanij, a former Over the years, JASG has built up than 150 individuals since its inception.
chairman of Jardine Fleming a close relationship with the Civil
Securities in Thailand, addressed Aviation Administration of China “Through the programme we
a session on Southeast Asia and (CAAC) and mainland China carriers are contributing to the setting
its prospects. Several Asian heads as it sought the right moment to make of standards and spreading best
of government also spoke at a major move into the fast-growing practices throughout the industry,”
the conference. aviation market. explained Mr Lam. “We also hope that
we are helping to inspire and motivate
In the second event, Lord Powell “JASL’s experience in operating in one future leaders in China’s aviation
and World Bank President Robert of the world’s leading airports and the industry.”
Zoellick joined forces on a panel
at the APEC Leaders’ Forum in A Jardines delegation
led by (centre right)
Singapore, which was attended by Jardine Pacific
Chief Executive
the Heads of Government of the Adam Keswick
APEC countries including President with management
executives of Jardine
Obama and President Hu Jintao of Aviation Services
China. Lord Powell and Mr Zoellick Group’s (JASG)
partner, Yunnan
discussed changes to the structure Airport Group, led by
of international relations since the (centre left) President
Liu Ming visit JASG’s
end of the Cold War. new joint venture
operation at Kunming
International Airport.
Mandarin Oriental Opens in Barcelona LEADERSHIP
Leadership
Mandarin Oriental Opens in Barcelona
Mandarin Oriental Hotel Group has offers highly stylized and creative and enjoy al fresco dining in the
opened its first hotel in Southern interiors by internationally renowned hotel’s 660 sq. m spectacular garden
Europe, in Barcelona on Paseo de Spanish designer Patricia Urquiola. or relax by the rooftop dipping pool,
Gracia, the city’s most prestigious Each of the guest rooms and suites which has a panoramic view over the
address at the centre of its commercial provides highly sophisticated in-room city’s famous architectural skyline.
and entertainment district. entertainment systems, reflective In addition, The Spa at Mandarin
of Mandarin Oriental’s renowned Oriental, Barcelona offers a wide range
Mandarin Oriental, Barcelona is customer-centric technology. The hotel of holistic rejuvenation and relaxation
housed in the redevelopment of an also has a choice of restaurants and treatments as well as luxurious water
elegant mid-20th Century building, bars that are destinations in their own and heat therapies in a tranquil,
which also incorporates luxury retail right. Guests can take advantage of meditative setting.
at street level. The 98-room hotel the temperate Mediterranean climate
Jardine Restaurant Group Acquires KFC in Taiwan
Jardine Restaurant Group (JRG) has acquired the KFC
franchise business in Taiwan from Yum! Brands Inc.
Jardines has a longstanding and successful relationship
with Yum!. JRG currently holds the sole franchisee rights
for Pizza Hut in Hong Kong, Macau and Taiwan and is
developing the Pizza Hut franchise network in Vietnam.
This will be the first time that JRG has operated a KFC
franchised business.
“I am very pleased about this opportunity to expand our
Front row centre: KFC Taiwan Chief Executive Officer Ricky Wong, Chief Financial
restaurant business in Taiwan,” said Jardine Pacific Chief Officer Hamish Ross (back row – second left) and the senior management
team of KFC Taiwan, together with William Lyon (back row – centre), General
Executive Adam Keswick. “The acquisition is in line with
Manager, Business Development, Jardine Restaurant Group and Colonel
JRG’s strategy of increasing its presence in the Region.” Sanders (back row – far left) celebrate the acquisition of KFC Taiwan.
Extreme Stunts Launch Latest Mitsubishi from JC&C
Jardine Cycle & Carriage (JC&C) showcased the all-new
Lancer EX Ralliart at the Mitsubishi Extreme Drive,
a two-day session of extreme stunts and driving for
motoring fans held at the Changi Exhibition Centre
in Singapore.
The on-board electronics of the two litre, turbocharged
car, which features technology derived from the Lancer
Evolution series, were the focus of a ‘Slip Sliding’ stunt
routine to demonstrate how they could be applied
when road conditions get out of hand. The Lancer EX
was also put through its paces in other stunts which
included the J-turn, an evasive driving manoeuvre
favoured by James Bond, which spins the car from
The Mitsubishi Lancer EX performs a J-turn manoeuvre. reverse to forward in one slick movement.
One Central Macau Sets New Standards
Hongkong Land joint venture One Central Macau is providing “We were committed to re-creating
One Central Macau is setting new discerning shoppers in Macau with the shopping experience found in
standards for convenience and quality the same convenience and quality Hong Kong here in Macau, and with
in shopping following its grand they have come to expect from Central such eager response from the most
opening in early December 2009. in Hong Kong. Many international prestigious international brands, we
brands have opened their first, largest can say that we have realized this
The 400,000 square foot, three-level or flagship stores in the mall where dream,” said Hongkong Land Chief
shopping mall is part of a mixed- tenants include Louis Vuitton, Hermès, Executive Y K Pang.
used project with Shun Tak Holdings Gucci, Fendi, Ermenegildo Zegna,
Limited, which is set in the heart of Dolce & Gabbana, Dior, Cartier, Bvlgari One Central Macau offers
the city on Nam Van Lake. and Burberry, among many others. shoppers the ultimate retail and
lifestyle experience, with access
to entertainment, fine dining,
upmarket residential buildings, the
new Mandarin Oriental Hotel and
serviced apartments, and leading
lifestyle and gaming destination
MGM GRAND Macau.
“In bringing One Central Macau to
life, we were able to leverage a track
record of success in developing
unique, luxury shopping experiences
for consumers that demand the
highest level of quality,” said Mr Pang.
“We believe that One Central Macau
is destined to become one of the
Hongkong Land joint venture One Central Macau offers shoppers the ultimate retail experience. premier destinations in Macau.”
Jardine Motors UK Unveils Audi’s New Terminal Concept Centre
Jardine Motors has opened the doors of its new
Audi Centre in Tamworth in the West Midlands.
The new world class ‘terminal’ design building
is the first to open in England and one of only
two in the United Kingdom.
The £7.7 million (US$12.5 million) facility
features a 14-car showroom displaying
all of the Audi brand portfolio and
19 workshop bays.
“This provides a great platform for
growth with the ability to operate
a larger vehicle park,” said Jardine
Motors UK Chief Executive Alun Jones. Jardine Motors’ pioneering new Audi Centre in Tamworth in the West Midlands.Leadership
JLT Raises Profile of Runaway Success for Citi Giant Credit Card
Risk Management
A Citi Giant credit card
in Asia launched six months ago
by PT Hero Supermarket
Tbk and Citi Bank in
Indonesia as part of an
ongoing effort to increase
customer loyalty has
proved a runaway success
with more than 130,000
Jardine Lloyd Thompson (JLT) has made
members recruited.
a significant contribution to raising the PT Hero Supermarket and Citi Bank Indonesia executives
including (2nd right) John Callaghan, Chief Executive Officer,
profile of risk management in Asia, in Hero Supermarket and (2nd left) Shariq Mukhtar, Citi Country
The Visa credit card
particular through its involvement in Officer, Citi Indonesia launch the Citi Giant credit card.
offers up to 5% cash
the Asia Risk Council (ARC), which was
back on all purchases at Giant special discounts on selected items
established in 2007 at the instigation
supermarkets and hypermarkets, every month.
of JLT Asia and then Jardine Matheson
Hero supermarkets and Guardian
Risk Manager Ray Mattholie to address
health and beauty stores as well “The growing database of credit
issues and challenges relating to the
as 5% discount on own brands and card members has already started
risk landscape in the region.
0.5% cash back on all purchases delivering tangible benefits,”
outside the above mentioned said Hero Supermarket Marketing
Subsequently JLT and representatives
stores. In addition, members receive Director Maria Suwarni.
from several other Group companies
played a leading role in the third
annual meeting of the ARC, which
was held recently in Hong Kong IKEA Opens Expanded Shatin Store
and attended by over 60 senior risk
executives representing companies IKEA Hong Kong’s expanded Shatin In preparation for the opening,
from across Asia. Store has been opened with a log- more than ten IKEA Hong Kong
sawing ceremony and lion dance. staff spent eight weeks in Sweden
“Having attracted 15 participants to the undergoing special training.
inaugural session, the ARC has since The new 120,000 sq. ft store is In addition, a similar number of
grown in profile to the level achieved located at HomeSquare, Grand specialists from IKEA’s headquarters
this year,” said Mr Mattholie who once Central Plaza in Shatin and features visited Hong Kong where they
again chaired the event. 35 display rooms which fuse provided valuable help with some
Scandinavian style with unlimited of the store layouts. Altogether
Contributions from other Group home furnishing ideas; 7,500 low over 100 IKEA staff were involved in
representatives included a session price, good quality items; a 130-seat the build-up to the opening making
co-hosted by Victor Tse of Jardine Swedish restaurant and a children’s the new Shatin Store an excellent
Matheson; Samuel Manasseh of Astra playground and ball pool. source of home furnishings.
International who spoke on developing
Centre right: Lars
a supply chain risk management Danielsson, the
Consul-General of
process; ‘Practical Risk Management –
Sweden and Lucy
Responding to a Crisis’ delivered by So, Manager of
the IKEA Shatin
Paul Clarke and Martin Goh of JLT Risk store, participate
Consulting; a review of the uses of in the traditional
Swedish log-
‘Catastrophe Modelling’ co-presented sawing ceremony,
by Matt Payne of JLT; and an unusual which marked the
opening of the
approach to risk management from Mike expanded store.
Wellsted from JLT on his 250 kilometre
trek through the Namibian desert.Mandarin Oriental Opens Exciting New Venues in Hong Kong and Las Vegas
Mandarin Oriental has opened two offers alfresco cocktails and snacks and rich violet and gold mosaics,
exciting new venues in Hong Kong and with exhilarating views of Victoria accentuated by LED and optical
Las Vegas. Harbour and the stunning city fibre lighting.
skyline. Entering through a red
In Hong Kong, The Excelsior has glass door, guests are treated to At Mandarin Oriental, Las Vegas, the
added an extension to its 34th floor the breathtaking views through a first restaurant in the United States
restaurant – ToTT’s Roof Terrace. newly constructed glass parapet, by three-star Michelin Chef Pierre
The brand new outdoor roof terrace complemented by wooden decking, Gagnaire has opened as the hotel’s
signature venue. Twist by Pierre
Gagnaire offers an innovative menu
which infuses the simplicity of classic
French cuisine with a modern spin,
relying on the pairing of flavours and
textures for which Gagnaire is known.
Located on the 23rd floor of the
hotel, the Adam D Tihany-designed
restaurant seats 74 and features a
dramatic glass staircase leading up
to a suspended wine loft. More than
300 gold globes illuminate the space,
appearing to float in the air across
the ceiling. Elevated tables allow
every guest a view from the floor-to-
ceiling windows that overlook the Las
Twist, the new Pierre Gagnaire restaurant at Mandarin Oriental, Las Vegas. Vegas Strip.
Special Events to Launch the New Mercedes-Benz E-Class in Singapore
The new Mercedes-Benz E-Class The new E-Class models were also
saloon and E-Class couṕe were the on show at a JC&C jewellery making
centre of attention at a number workshop held specifically for female
of special events held by Jardine customers. Participants at the session
Cycle & Carriage (JC&C) to mark the were given the opportunity to design
models’ official launch in Singapore. their own silver jewellery and each
received a sales kit highlighting the
In addition to an exclusive attributes of the new E-Class.
introduction for media and business
partners, Mercedes-Benz customers Meanwhile JC&C Mercedes-Benz
and the public were invited to view customers enjoyed a live screening
the new E-Class over a period of four of the second Formula One night race
days with the added attraction of in Singapore. Guests could also enter
entertainment from jazz and classical a lucky draw to guess the winner of
musicians. Altogether more than the race and the fastest time. Prizes
3,650 people flocked to see these included Formula One goodie bags
Jardine Cycle & Carriage held a private viewing of the
exciting additions to the Mercedes- and a cap signed by Lewis Hamilton.
new Mercedes-Benz E-Class at its Mercedes-Benz
Benz portfolio. Center in Singapore.Leadership 11
Superior Customer Services for World’s Largest 7-Eleven Singapore
Passenger Jet Adds Value at the
World’s Largest
Jardine Airport Services Limited A new operations procedure had to
(JASL) became the first ground be implemented to deal with the CNG Station
handling services company in Hong superjumbo plane and leading up
7-Eleven Singapore is providing
Kong to handle the world’s largest to the day of the inaugural flight,
convenience for customers of C-NERGY
passenger jet when Singapore the JASL team worked tirelessly to
at 50 Old Toh Tuck Road in West
Airlines inaugurated its A380 daily ensure that all passenger handling
Singapore, which, with 46 pumps,
service between Singapore and Hong processes were in place at check-in,
has a place in the Guinness Book
Kong last year. boarding, flight operations and load
of Records as the world’s largest
control for the aircraft.
compressed natural gas (CNG) station.
“These meticulous preparations
In collaboration with C-NERGY, which
contributed to a successful operation
is operated by Union Gas Pte Ltd,
and on-time departure of the
7-Eleven has customized its 24/7
superjumbo jet,” said Enoch Lam,
convenience store at the station to
Chief Executive, Jardine Aviation
cater for the specific needs of the
Services Group.
consumers using it. For example,
taxi drivers make up to 90% of the
Of the 14 commercial airlines to have
customer base and the hot food
ordered the A380, ten are customers
offered by the 7-Eleven food service
of Jardine Aviation Services.
counter has been well received by
drivers wanting a quick meal while
“The professional readiness of JASL
filing up their tanks. The station also
enables us to move forward with
serves nearby residents and 7-Eleven
the industry as more airlines seek
has made available a variety of
efficient alternatives and begin to
Passengers checking in for their journey on household products and drinks for the
operate the superjumbo,” added
the inaugural A380 flight from Hong Kong convenience of these customers.
to Singapore. Mr Lam.
“7-Eleven’s collaboration with
C-NERGY showcases our desire to be
JLT Expands UK Employee Benefits Activities a leading convenience chain store that
with Acquisition evolves with the times,” said 7-Eleven
Singapore Chief Executive Officer
Jardine Lloyd Thompson (JLT) will as a strategically central part of the Victor Chia.
strengthen its market position in JLT Group.
UK employee benefits and add
significantly to its expertise and “It is a complementary deal,
capabilities through the recent playing to our strengths and
acquisition of HSBC Actuaries and adding capabilities in important
Consultants Limited (HACL). professional fields,” explained JLT
Chief Executive Dominic Burke.
The acquisition brings together two
market leading employee benefit In the year ended 31st December
consultancies with synergy in both 2008, HACL, which employs some
culture and client offerings. It also 440 staff, had revenues of circa
underlines JLT’s determination to see £40 million (US$64.3 million).
its employee benefits business grow
Left: Singapore MP Seng Han Thong tours the
new 7-Eleven store with 7-Eleven Singapore Chief
Executive Officer Victor Chia.Jardine Matheson Group – A Focus on Southeast Asia Feature
Feature 13
Jardine Matheson Group – A Focus on Southeast Asia
Having weathered the worst of the Firmly focused on expanding business should be many opportunities for
storm caused by the global financial activities in the Region where viable expansion ahead, particularly in
downturn, the Jardine Matheson opportunities present themselves, the the newer markets where traditional
Group is currently in a strong position Group is concentrating on identifying industries are rapidly being overtaken
and poised to make the most of new and implementing means of staying by the development of infrastructure,
opportunities in Southeast Asia. ahead of its competitors. manufacturing and services.
Apart from Singapore and Malaysia
where the Group has traditionally “This means continuing with viable “Our long history and experience in
had a major presence and its long expansion programmes to sustain our Southeast Asia, the growth of our
association with both Thailand and leading positions in all our markets,” business activities in the Region over
the Philippines, there is growth in the said Group Managing Director the last decade and the synergy which
fast-moving and important Indonesian Anthony Nightingale. exists across the Group, mean we
market as well as in the newer markets are well positioned to become even
of Vietnam and Cambodia, in which the As the Region continues to show a stronger in the Region as it prospers,”
Group is now investing. stronger economic recovery than added Mr Nightingale.
many other parts of the world, there
The increasing extent of the Group’s
business activities in Southeast Asia
7JFUOBN
is reflected in the fact that in 2008 the
Region made up 43% of underlying
5IBJMBOE
profits, compared with 9% in 2000, 1IJMJQQJOFT
and that percentage is likely to $BNCPEJB
increase further. The Group also now
employs some 180,000 people in the .BMBZTJB
Region. By far the greatest number 4JOHBQPSF
of these – over 144,000 – are in
Indonesia, which over the last decade *OEPOFTJB
has assumed growing significance
through Jardine Cycle & Carriage’s
investment in Astra.
Jardines’ Presence in Southeast Asia
Cambodia Indonesia Malaysia Philippines Singapore Thailand Vietnam
Engineering and Construction
Transport Services
Insurance Broking
Property Investment and Development
Retailing
Restaurants
Luxury Hotels
Motor Vehicles and Related Activities
Financial Services
Heavy Equipment
Mining
Agribusiness
Information TechnologyInvolved in Indonesia
Through its investment in Astra, the services, agribusiness, heavy
leading conglomerate in Indonesia equipment and mining,
and the largest independent information technology
automotive group in Southeast and infrastructure.
Asia, Jardines has been actively
participating in the emerging Astra’s automotive business
economy of this extensive island comprises the production,
nation. The Group’s older investments distribution, retail and after-
in other sectors of the economy too sales service of motor vehicles
mean that Jardines is represented and motorcycles. It holds 58%
across a broad spectrum of business of the country’s motor vehicle
in Indonesia. market through partnerships
with leading manufacturers
Currently the Indonesian economy is such as Toyota and Daihatsu,
Astra subsidiary United Tractors is the leading provider of
benefitting from sound government and 46% of the motorcycle heavy equipment for the mining, construction, forestry and
agribusiness industries in Indonesia.
policies which are committed market through Honda.
to strengthening infrastructure, Astra also manufactures and
improving the business climate and distributes automotive components. Nusantara is the country’s largest coal
boosting growth. Foreign confidence In addition it provides a wide mining services contractor. In recent
is also rising as reflected in Moody’s spectrum of high-quality financial years, UT has expanded its interest
lifting of the country’s sovereign products and services in support in the coal mining business as a
rating to Ba2 from Ba3. of its automotive businesses and concession owner. The group is also
is also involved in retail banking one of Indonesia’s largest producers
Astra, in which Jardine Cycle & through its stake in PT Bank of palm oil with plantations covering
Carriage holds an interest of just Permata Tbk. approximately 260,000 hectares.
over 50%, is listed on the Indonesia As global demand for palm oil rises,
Stock Exchange and is a diversified Through United Tractors (UT), Astra Astra Agro Lestari is involved in every
business group with more than is the sole distributor of Komatsu aspect of the industry from cultivation
150 subsidiaries. Its six core heavy equipment in Indonesia to harvesting and processing.
businesses are automotive, financial and its subsidiary Pamapersada
Now part of the Dairy Farm Group,
PT Hero Supermarkets pioneered the
introduction of modern supermarkets
in Indonesia in the 1970s. Today it
is one of the top five retailers in the
country. Hero serves its customers
using multiple retail formats,
which include Hero and Giant
supermarkets, Giant hypermarkets,
Guardian health & beauty stores and
Starmart minimarkets.
PT Tunas Ridean, a listed affiliate of
Jardine Cycle & Carriage, is one of the
largest independent motor vehicle
dealers in Indonesia. It is also a major
provider of vehicle financing through
its associate, Mandiri Tunas Finance.
Astra’s extensive automotive business includes the production of cars such as these Toyotas.Feature 15
A Strong Presence in Singapore
Following on from the long-term Many Group operations use Singapore Land is helping to create Singapore’s
success of its three existing office as a hub for Southeast Asia and are, or new central business district on the
buildings in Jakarta’s central have the capacity to become, market waterfront with joint venture iconic
business district, PT Jakarta Land, leaders in their respective fields. The developments One Raffles Quay and
a 50/50 joint venture between city-state’s high standards of corporate Marina Bay Financial Centre.
Hongkong Land and Central Cipta governance and administrative efficiency
Murdaya, will this year commence along with the Government’s objective Hongkong Land subsidiary, MCL Land,
construction on World Trade to attract foreign capital and talent and has more than 40 years experience
Center II. The 60,000 square further enhance its status as a leading of building homes in Singapore
metre building will have basement global city make it conducive to doing and Malaysia. Last year MCL Land
parking, retail, banking space and business. The Group’s businesses are had pre-sales of 264 new homes in
28 levels of offices. generally performing well despite the Singapore, four and a half times the
difficult economic environment of the number of units committed in 2008. This
Jardine Lloyd Thompson (JLT) has past year. Most are well positioned for reflects an increase in demand for units
been operating in Indonesia since expansion, both organic and through in mid and mass-market developments.
1976 and was the first foreign acquisition, into related businesses
joint venture insurance broker to or new sectors in line with the Dairy Farm operates four key retail
establish operations in the country. development of the Region. formats in Singapore – Cold Storage,
JLT specializes in a wide range Market Place and Shop n Save
of insurance services and also Jardine Cycle & Carriage (JC&C) supermarkets; Giant Hypermarkets;
provides professional advice in the continues to look at new growth areas 7-Eleven convenience stores; and
areas of self-funding mechanisms, in its mature automotive market. With Guardian health & beauty stores – and
catastrophe analysis, protection a strong base, which includes the is a market leader in each segment.
and disaster recovery. Mercedes-Benz, Mitsubishi, Kia and While Singapore is an established
Citroën marques, JC&C is constantly market and new sites, especially for
Following a multi-million dollar anticipating the needs of its customers the development of hypermarkets, are
renovation last year, Mandarin with the introduction of new models limited, the group continues to expand
Oriental, Jakarta is positioning and exciting customer care events. and develop. During 2010, it plans to
itself as the most luxurious hotel open 50 new stores and widen its range
in the city with 272 spacious rooms Hongkong Land has a high profile in of house brands to provide continuing
and suites and several fine new Singapore. Its first groundbreaking good value for customers.
restaurants. Located in the heart of developments, One Raffles Link and
Jakarta’s financial and diplomatic CityLink Mall, set new standards for Originally opened in 1987 as The
district, the hotel combines quality, convenience and integrated Oriental, Singapore, but renamed
the richness of Indonesian retail facilities when they were following extensive renovation
culture with Mandarin Oriental’s completed in 2000. Currently Hongkong five years ago, Mandarin Oriental,
legendary service. Singapore, continues to
uphold its position as
Since starting operation in one of Singapore’s best
Indonesia in 1998, joint venture luxury hotels. Located
company PT Berca Schindler on Marina Square with
Lifts has been providing lift and close proximity to the
escalator solutions for many Formula One Grand Prix
prestigious new developments in track, Singapore River and
the country including premium shopping, cultural and
office and residential towers, underground transport
hotels and mega malls. facilities, the hotel appeals
to both business and
Jardine Cycle & Carriage’s impressive portfolio of leading automobile
marques in Singapore includes Mercedes-Benz. leisure travellers alike.Gammon, which has had a presence in and infrastructure sectors. At the same making inroads into other market
Singapore since the 1980s, has recently time the company has developed a segments. In particular, the Schindler
broadened its service offering with the successful business supplying products 3100 product range is meeting the
formation of foundation and electrical to overseas markets. requirements for multi-generation
and mechanical business units. Through family living in homes with private lifts.
subsidiary, Gammon Capital, the group Jardine Shipping Services Singapore
is in the process of completing its first is a market leader in providing shipping Singapore is a core hub for Rothschild’s
Public Private Partnership (PPP) project agency services to clients who range Asia business. Over recent years this
in Singapore, an important step in its from leading global shippers, ship has shown rapid growth in all areas,
strategy of creating sustainable PPP owners, ship operators and charterers particularly mergers and acquisitions.
businesses in the Region. to local importers and exporters.
Capitalizing on Singapore’s position as Singapore is the regional headquarters
JEC Singapore started out providing a global shipping hub, JSS Singapore of Jardine Lloyd Thompson (JLT)
Mechanical and Electrical (M&E) handles all kinds of vessels from the Asia, which has had a presence
Technical services in 2001. Today JEC largest tankers to cruise liners. there since 1969. From this base,
Singapore also offers a full range of JLT’s strategic business units work
architectural fit out, M&E equipment With a well-established reputation closely with offices in Asia and,
and turnkey solutions, as well as high in the high-end of the market, where necessary, around the globe,
value-added services in the building Jardine Schindler has recently been leveraging the expertise of the JLT
network. In Singapore, JLT is dominant
Hongkong Land
joint venture
in insurance broking services
developments for the construction, employee
Marina Bay
Financial Centre benefits, property & liability, marine,
and One Raffles professional & executive risks and
Quay will form
a key part of wealth management sections.
Singapore’s
new waterfront
central business Jardine OneSolution (JOS) has been
district.
active in Singapore since 1998 with
a strategy to build its expertise and
capabilities across different industries.
Today it has a strong presence in
the commercial sector and clear
leadership in the public sector.
Stepping into Cambodia
The Jardine Matheson Group has taken its first major step into
Cambodia with the agreement to acquire a 12.25% stake in ACLEDA
Bank (ACLEDA) from Netherlands Development Finance Company.
Originally created in 1993 as a ‘Micro Finance’ NGO entity providing
small loans to retired military personnel, ACLEDA became a commercial
bank in 2003 and is today Cambodia’s second largest such institution.
Jardine Schindler began operations in Cambodia in 2001 and since then
has been focused on establishing the brand and building up market
share. New residential projects and Government plans to develop the
ACLEDA Bank, in which the Jardine Matheson Group has agreed
seaside city of Srihanuville into a leisure resort area are all providing
to acquire a 12.25% stake, is Cambodia’s second largest
good potential for growth, particularly for Schindler escalators and lifts. commercial bank with 232 branches and over 7,000 staff.Feature 17
A Market Leader in Malaysia
The Group has had a presence in Giant is a
household name
Malaysia for over 50 years. In the in Malaysia
mid-1990s this was strengthened where it is the
leading retailer.
with investments in Cycle & Carriage
Bintang, Mandarin Oriental and
Guardian and consolidated further
with the acquisition of Giant in 1999.
Currently there are eight Jardines’
businesses in Malaysia operating in
an economic environment which is
experiencing a lifting of some of the
traditional restrictions imposed on
foreign investors. The Government
is also focusing on industries such
as health care, public transport, will open seven new stores as well Jardine Lloyd Thompson has had
energy, the financial sector and as a fresh distribution centre in a presence in Malaysia for almost
tourism, many of which offer Balakong, Selangor. 30 years. The group specializes
potential opportunities for growth in the provision of insurance and
to Group companies. Jardine OneSolution (JOS) is the reinsurance broking services for
number one distributor of computer both Malaysian and multinational
Dairy Farm’s retail businesses are products in Malaysia with strong clients and provides innovative risk
leaders of their markets. They expertise in merchandising and management solutions tailored to
operate 35 Giant hypermarkets, procurement and an unrivalled meet clients’ needs.
67 Giant superstores/supermarkets, portfolio of international vendors. The
18 Cold Storage supermarkets and company has offices in Kuala Lumpur, Cycle & Carriage Bintang (CCB)
339 Guardian Health & Beauty Penang and Johor Bahru. is the leading Mercedes-Benz
stores. A key factor in Giant’s dealer in Malaysia and last year
success has been its ability to Antah Schindler is a well-established celebrated its 110th anniversary
offer value for money products company involved in the installation as a company. It also sells vehicle
that meet the needs of local and maintenance of Schindler brand parts and accessories and services
consumers. During 2010, Giant elevators and escalators. close to 70% of the Mercedes-Benz’
after sales business in Malaysia. A
recent restructuring has revitalized
its profitability.
Located between the iconic Petronas
Towers and Kuala Lumpur City Park,
Mandarin Oriental, Kuala Lumpur
is the city’s most distinctive and
prestigious hotel. The hotel has 643
rooms and 51 serviced apartments.
Rothschild Malaysia provides a full
range of corporate finance advisory
services particularly in the areas of
mergers and acquisitions and debt
and restructuring advisory work.
There are more than 300 Guardian Health & Beauty stores serving the health, personal care and
beauty needs of Malaysians across the country.Well Placed in the Philippines
Jardines’ association with the Jardine Lloyd Thompson offers specific Mandarin Oriental, Manila, which is
Philippines dates back to the 19th expertise in risk management including located in the central business district
Century but it was not until the early employee benefits, financial risks, of Makati, has won many awards for
1970s that the Group began to actively natural resources, construction, quality service.
invest in businesses there. aviation, property & liability,
and utilities. Jardine Shipping
Jardine Engineering Corporation Services is a leading
(JEC) Philippines’ subsidiary, Jardine shipping agency.
Distribution, Inc (JDI), markets a wide
range of crop protection products and Jardine Direct Company
applied construction chemicals from provides offshore information
leading international manufacturers. technology support services to
JEC Philippines focuses on providing Dairy Farm units in Hong Kong,
HVAC (heating, ventilation and air- Southern China and Taiwan.
conditioning) services for large Hongkong Land has a presence
corporations. Jardine Schindler in the Philippines through joint
Elevator Corporation (Philippines) is venture Northpine Land, which One of Jardine Distribution, Inc’s (JDI) field staff offers
advice and explains the benefits of one of JDI’s crop
among the leading suppliers of lifts, focuses on middle-income
protection products to a farmer in the Philippines, where
escalators and moving walkways. housing developments. they are among the leading brands.
75 Years in Thailand
Jardine Matheson has recently Jardine Engineering Corporation (JEC) for the export market. Jardine Schindler
celebrated its 75th anniversary in Thailand has been established for Thailand has a strong presence in the
Thailand, a reflection of its long over 40 years and is a market leader in high-rise segment of the Thai market
association with the country. While building services with a strong presence with many long-term customers
the ongoing turbulent political in the new-build sector. JEC is also including several of the country’s
situation has curtailed both focusing on specialist contracting in the largest real estate developers.
incoming foreign direct investment transportation and energy sectors. Trane
and domestic consumption, good Thailand leads the market for large The legendary Mandarin Oriental,
economic fundamentals and a strong commercial air-conditioning units and Bangkok has set the benchmark for
infrastructure mean that there are is a household name for domestic units hotel standards in Thailand for many
opportunities for potential growth. too. The company also produces units years and in spite of a significantly more
Set in over 60 acres of natural
landscape and surrounded by
the rich heritage of the Lanna
Kingdom, Mandarin Oriental
Dhara Dhevi, Chiang Mai has
established itself as a brand-
defining destination.Feature 19
competitive market, continues to Jardine Lloyd Thompson Thailand Licensed two years ago, JLT Life
protect its leadership position against has been operating for 36 years and Assurance Broker is able to take
other luxury brands. Resort hotel is actively engaged in the small & advantage of the rapid growth in
Mandarin Oriental Dhara Dhevi, Chiang medium enterprise, affinity, major the EB sector through a full range
Mai, which opened five years ago, corporate, and employee benefits of products and services for a
has also established itself as a brand- (EB) segments. It is also the market variety of clients.
defining destination. leader in the hotel industry segment.
Expanding in Vietnam
Political stability, impressive Hongkong Land first
economic growth, an entrepreneurial invested in Vietnam some
private sector and a young population 15 years ago introducing
have turned Vietnam into a international construction
marketplace with great potential. and property management
Over the last 15 years, Jardine standards with two
Matheson has invested in key areas office buildings in Hanoi.
of Vietnam’s economy. Currently Hongkong Land
is pursuing commercial
Through Jardine Strategic, the Group and residential projects in
holds a 7% stake in Asia Commercial Ho Chi Minh City (HCMC).
Bank (ACB), the largest private bank The more than 1,500 Schindler elevators and escalators in Vietnam
are maintained by Schindler Vietnam’s specialist engineers and
in Vietnam. Dairy Farm, which technicians to ensure maximum efficiency and absolute safety.
entered the Vietnam
Jardine Cycle & Carriage has a market in 2006 when its wholly-owned Jardine Lloyd Thompson (JLT), which
29% interest in Truong Hai Auto subsidiary Giant South Asia (Vietnam) is headquartered in HCMC with a
Corporation (THACO), which has was granted a retail business licence branch office in Hanoi, has been
grown to become one of Vietnam’s to operate supermarkets, is actively represented in Vietnam since 1994
largest domestic automotive players reviewing opportunities to expand and and received its full broking licence
undertaking assembly, distribution to develop other retail formats. in 2008.
and retail for several international
automotive principals and its own With 13 years of experience in the Pizza Vietnam, a joint venture
THACO brands. It also operates the market, Schindler Vietnam is the between Pizza Hut Hong Kong and
largest sales network in Vietnam. industry leader for lifts and escalators. IFB Holdings, opened its first Pizza
JC&C is actively supporting THACO’s In addition, Schindler Vietnam Hut in the country three years ago
plans to expand, including areas like produces components for Schindler’s in HCMC. Today there are ten Pizza
automotive consumer financing and high-speed elevators for both the Hut outlets in HCMC, Hanoi and
component production. domestic and export markets. Dong Nai.
Truong Hai Auto Corporation (THACO), in which Jardine Cycle &
Carriage holds a 29% interest, has its automotive assembly plant
in Chu-Lai, Vietnam where it is the largest private employer in
Quang Nam Province with over 3,000 staff.7-Eleven South China Celebrates 17th Anniversary and 550th Store Performance
Performance 21
7-Eleven South China Celebrates 17th Anniversary and 550th Store
7-Eleven South China has celebrated 16th October 1992. In the 17 years Speaking at the ceremony, 7-Eleven
its 17th anniversary and the opening since then, 7-Eleven South China has South China Chief Executive Officer
of its 550th store located in New City expanded in the region to encompass Jenny Lee emphasized 7-Eleven’s
Zhujiang, Guangzhou. the five main cities of Guangzhou, commitment to providing convenient
Shenzhen, Dongguan, Zhuhai and service and high quality products to
The ceremony was held on the Foshan, and is rapidly advancing customers according to the corporate
anniversary of the opening of the first towards the ambitious goal of principle of ‘Convenience Everyday’.
five 7-Eleven stores in Shenzhen on 1,000 stores.
JEC Showcases Green Solutions in Vietnam
JEC partnered with Hongkong Land to showcase its green
solutions at the Green-Biz 2009 event organized by EuroCham
and the Vietnam Chamber of Commerce and held in Hanoi.
JEC presented solutions which could be applied to Vietnam’s
development challenges in the energy, water, transport and
construction sectors. The event also included a conference
which brought together key figures from European and
Vietnamese business communities, governments and
consultancies to share solutions for sustainable development
JEC green solutions for sustainable development were on
in Vietnam. show at Green-Biz 2009, which was held in Vietnam.
Multiple Honours for Wellcome
Wellcome has achieved multiple 2009 Hong Kong CIM Marketer of
honours in the 2009 HKMA (Hong the Year and won the Distinguished
Kong Management Association)/TVB Marketing Leadership Award, while
Awards for Marketing Excellence. Wellcome Group Marketing Manager
Annie Sin carried off the Best
The company’s ‘One Dollar Does Presentation Award.
Matter’ marketing campaign won The HKMA/TVB Awards for Marketing
the Certificate of Excellence in the “These awards reflect the industry’s Excellence were established in 1986
Campaign Awards division and the recognition of Wellcome’s excellent and the 2009 finalists included leading
Citation for Outstanding TV Campaign. achievements in marketing,” said institutions such as MTR, American
In addition, Wellcome Marketing Wellcome Hong Kong Chief Executive Express, McDonald’s and the Hong
Director Diane Chiu was named Officer Alex Tay. Kong Jockey Club.
Wellcome Hong Kong’s ‘One Dollar Does Matter’ advertising campaign caught the imagination of a large audience and won industry recognition.IKEA Taiwan Inspires Singapore Deputy Prime Minister Visits Giant
with Creative Activities Flagship Store
IKEA Taiwan has been inspiring its Singapore Deputy Prime Minister Teo Chee Hean paid a special visit to Giant
customers with a series of creative Tampines to mark the opening of an overhead pedestrian bridge linking the
activities to mark the launch of its residents in Pasir Ris town to the hypermarket.
2010 new products and catalogue.
Led by Giant Merchandise Director Pierre Deplanck and Store General
Television commercials, public Manager Vincent Leow, the Giant team extended a warm welcome to Mr Teo
relations promotions and the and his team of grassroot leaders from the Pasir Ris – Punggol constituency.
internet have been used to deliver
the key campaign message that IKEA “The opening of this bridge has been greatly welcomed by the residents of
Taiwan can offer smart solutions Pasir Ris who can now cross over to Giant Tampines more easily to do their
to create a home that suits every grocery shopping,” said Mr Leow.
consumer’s lifestyle.
Among the activities, an in-store event
to launch the new catalogue saw
people queuing up to be amongst the
first 380 to receive a new catalogue,
each of which contained the surprise
bonus of a gift voucher. The ‘IKEA
Happiness Bus’ was another success
as it travelled out into the streets
to bring IKEA’s inspirational home
furnishings and 2010 new products to
the attention of potential customers.
In addition, representatives of the Centre: Singapore Deputy Prime Minister Teo Chee Hean is warmly welcomed to Giant Tampines
media were invited to visit the IKEA as guest of honour at the official opening of the overhead pedestrian bridge in Pasir Ris town.
Hsinchuang store to view firsthand the
latest collection in the IKEA PS (Post
Scriptum) range, which encourages Hactl Scores a Hat-trick
new ways of thinking about the
design process. Hong Kong Air Cargo Terminals SCALA is organized by Asia Pacific’s
Limited (Hactl) has scored a hat- leading industry publication
trick by winning the title ‘Air Cargo Supply Chain Asia to recognize the
Terminal of the Year’ for the third outstanding achievements and
year in a row at the Supply Chain contributions of industry players in
Asia Logistics Awards (SCALA) 2009. the Region.
“Winning this regional title once
again signifies our unwavering
pursuit of service excellence
and customer satisfaction,” said
Hactl Managing Director Anthony
Wong. “It represents the collective
effort of all our professional and
seasoned staff who are dedicated
to delivering the best cargo
The launch of IKEA Taiwan’s 2010 new products Hactl Managing Director Anthony Wong with the
handling and logistics solutions to
and catalogue attracted wide attention from media ‘Air Cargo Terminal of the Year’ award, which the
representatives and customers. our customers.” company has won for the third successive year.Performance 23
Group Companies Shine in Service and Courtesy Awards
High standards of service and courtesy Pizza Hut Hong Kong won three Pizza Hut Hong Kong also achieved a
at 7-Eleven, IKEA and Pizza Hut in awards – Junior Frontline Level high level of excellence by winning five
Hong Kong have paid off with all three Fastfood and Restaurants category, out of the nine awards at the ‘Regional
Group companies winning accolades and at Supervisory Level, the Champs Challenge 2009’, which
in the 2009 Hong Kong Retail Fastfood and Restaurants and Food was held in Kuala Lumpur, Malaysia
Management Association (HKRMA) Shops categories. by franchisor Yum! Restaurant
awards, which are regarded as the International.
‘Oscars’ of the retail industry.
For the second year running, 7-Eleven
carried off the Junior Frontline Level of
the Supermarkets/Convenience Stores
category. The award was won by Zoe
Kwok of 7-Eleven’s Farm Road store.
Meanwhile Sam Chan, Section
Manager at IKEA’s Causeway Bay
Store won the Specialty Stores
category – Lifestyle (Supervisory
Level). This is the third consecutive
HKRMA Service & Courtesy Award to
be won by IKEA Hong Kong, but the
first at supervisory level. Pizza Hut Hong Kong celebrates its success at the Regional Champs Challenge 2009.
Spotlight on Kia in Singapore and Vietnam
Kia has been in the spotlight with the Koup, attracted so much interest that were introduced at the opening of
launch by Cycle & Carriage of a new some 200 bookings had been made the latest THACO Kia showroom, the
model in Singapore and the opening even before its official unveiling. Some most modern of its kind in the country.
of another showroom in Vietnam by 100 units were sold over a ‘Wonderful The occasion coincided with the
Group affiliate THACO. Test Drive’ weekend alone. Kia Distributors Conference in Asia-
Pacific, which attracted some 40 chief
In Singapore, the launch of Kia’s first Meanwhile in Da Nang, Vietnam, both executives from around the Region.
ever two-door coupé, the Kia Forte the Kia Koup and Kia New Sorento THACO Kia is Kia Motors’ fastest
growing partner in Asia-Pacific with
Cycle & Carriage’s nearly 6,000 Kia cars sold in Vietnam
launch in since the signing of a strategic
Singapore of the
Kia Forte Koup was partnership in 2007.
a great success.
Participants at the conference
discussed business strategy and
product orientation for Kia vehicles
in Asia-Pacific in 2010 and were
addressed by THACO Kia Chairman
Tran Ba Duong on the investment,
development and marketing activities
of the company in Vietnam.You can also read
