Log In

Reset Password

Bid for Hongkong Land rumoured

Bermuda-registered Hongkong Land Holdings Ltd., Bloomberg Business News, quoting a Singapore newspaper, said yesterday.

Hongkong Land is one of the Jardine group of companies.

There is a "fair chance'' Singapore companies will be involved in a hostile takeover of the property company before Hong Kong reverts to Chinese rule in 1997, said a Business Times columnist.

The newspaper said the "uneasy relationship'' between the Jardine group of companies and China was dissuading Jardine from raising its 32 percent stake in Hongkong Land to a majority to keep away potential bidders.

The paper said that potential bidders for Hongkong Land might see Singapore government-linked companies like Temasek Holdings Ltd. or Government of Singapore Investment Corp. as sources of funds for a takeover.

Bermuda-registered Jardine group companies Jardine Matheson Holdings Ltd., Jardine Strategic Holdings Ltd., Dairy Farm International Holdings Ltd. and Mandarin Oriental International Ltd., as well as Hongkong Land.