Henderson Land Development Co. Ltd. is a listed property developer in Hong Kong and a constituent of the Hang Seng Index. The company's principal activities are property development and investment, project management, construction, hotel operation, department store operation, finance, investment holding and infrastructure. It is the third largest Hong Kong real estate developer by market capitalisation. The company is controlled by Lee Shau Kee, who owns approximately 70.17% of the share capital as of June 2015.
History
Founded by Li Shau-kee, the company was taken public in 1981 by Sun Hung Kai Securities. The shares were introduced at HK$4 by a novel, geared, method – there was to be an initial downpayment of HK$1 per share upon subscribing to the offer, with cash calls of another HK$1 six months later. The final HK$2 instalment would be due at the year end.[2]
In 2006, the State Administration of Foreign Exchange (SAFE) found that Henderson had breached the foreign-exchange regulations in the amount of HK$565 million. Henderson allegedly engaged Shenzhen Zhaotian Investments, headed by Tian Chenggang – whose father is former vice-premier Tian Jiyun – to lobby for leniency from the potential fine of 150 million yuan, according to Tian. On 4 December 2006, the company was issued with a fine of 2.33 million yuan (HK$2.9 million), which the company paid. Zhaotian sued in Hong Kong in 2012, claiming an oral agreement between Tian Chenggang and CFO Alexander Au for a HK$43 million "consultation fee", and failed upon appeal in 2015 due to the absence of documentary evidence of the agreement.