Page 5 - Sphere No.6 (Jun 2002)

S PHERE
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E N E R G Y & I N F R A S T R U C T U R E
CKI to Tunnel ‘Down Under’
bites
C O R P O R A T E
Research Centre Opens
A state-of-the-art cancer research centre at
Cambridge University, UK was officially
opened on May 18 by Hutchison Chairman
Mr Li Ka-shing and Lord Sainsbury, Britain’s
Minister for Science and Innovation.
Named the Hutchison/MRC Research
Centre, the project is a collaboration
between the Medical Research Council
(MRC), the University of Cambridge and
Cancer Research UK. Construction of the
new building was made possible by a £5.3
million donation from HWL, to match
funding from the MRC.
Scholarship Scheme Expanded
Thanks to a HK$23 million
donation from Mr Li Ka-
shing and the Hutchison
Group, the Chevening
Scholarship Scheme in April
was expanded to include an
extra 63 scholarships for Hong
Kong and Mainland Chinese postgraduate
students each year for the next four years,
increasing the existing number of scholarships
by one third. Chevening Scholarships are
offered annually by the British Government to
enable high achievers from around the world
to undertake postgraduate study in the UK.
Husky Oil Operations (72.5%) and co-
venturer Petro-Canada (27.5%) in March
announced their decision to proceed with
the development of the White Rose oil
field, located off the east coast of
Newfoundland and Labrador, Canada.
The White Rose development plan is
focused on a purpose-built Floating
Production Storage and Offloading (FPSO)
vessel with a peak production rate of
approximately 100,000 barrels of oil per day.
South Korea’s Samsung Heavy Industries
has been awarded the contract to build the
FPSO hull, Aker Maritime Kiewit
Contractors will build topsides designed to
produce oil at a quality suitable for shipment
by shuttle tankers to market, and US
company SBM IMODCO will design and
fabricate the turret and mooring system for
the FPSO.
A consortium led by Cheung Kong
Infrastructure Holdings (CKI) has been
chosen as the preferred tenderer for a new
A$800 million (about US$4.5 million) road
tunnel project to carry through-traffic
beneath the central business district of
Sydney, Australia.
CKI has a 50% interest in the consortium,
Cross City Motorway (CCM) – which
also includes DB Capital Partners (30%)
and construction contractor Baulderstone
Hornibrook (20%).
The project, a 2km cross-city tollway tunnel
linking Sydney’s eastern suburbs with the
city’s west is expected to carry up to 95,000
vehicles a day by 2006.
Work is expected to commence before the
end of 2002.
HWL and its subsidiaries have continued to
attract attention with several media rankings
and titles. Hutchison featured in the top ten
of CFO Asia’s “Best Annual Report in Asia
(2000-2001)” [10], while Euromoney ranked
HWL top in the “Best Asian Companies –
Conglomerate” category and placed it in the
top five “Best Companies in HK” category
[5]. In April, Finance Asia named HWL “Best
Managed Company in HK” and “Best
Financial Management in HK”. HWL was
also in the top three for “Best Investor
Relations in HK” [2], “Strongest
Commitment to Enhancing Shareholder
Value in HK” [2] and “Companies Most
Committed to Corporate Governance in
HK” [3].The Asset Benchmark Survey,
meanwhile, judged Hutchison “Best in
Corporate Governance, Hong Kong.”
After greater-than-expected demand for
Phase I units of Le Parc in the southern
Chinese city of Shenzhen, the development
continued its success when Phase II apartments
came to market in February.
Demand was so high that prospective buyers
lined up the day before the opening, and 280
units were snapped up in just three days. The
development boasts European-themed gardens
and consists of approximately 3,200 units as well
as shopping facilities, schools and a clubhouse.
applause Five-star Status
The Harbour Plaza Chongqing has been awarded “five-star hotel
certification” in recognition of its high-quality facilities and services.
This 390-room luxury hotel boasts a high-tech business centre and
top-flight leisure facilities, including an indoor swimming pool,
tennis court, cinema complex, bowling alley, shopping mall and ice-
skating rink.
P R O P E R T Y & H O T E L S
White Rose Given Green Light
Le Parc Phase II in Demand