First Pacific
Encyclopedia
First Pacific Company Limited is a Hong Kong
-based investment
and management
company with operations
located in Asia
. It involves telecommunications, consumer
food products and infrastructure
. Its chairman is Anthoni Salim , an Indonesian Chinese entrepreneur
.
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
-based investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
and management
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
company with operations
Business operations
Business operations are those ongoing recurring activities involved in the running of a business for the purpose of producing value for the stakeholders...
located in Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
. It involves telecommunications, consumer
Consumer
Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...
food products and infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
. Its chairman is Anthoni Salim , an Indonesian Chinese entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
.
History
- 1981: First Pacific Finance Limited was founded as a financial servicesFinancial servicesFinancial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
provider in Hong Kong by Mr. Sudono SalimSudono SalimSudono Salim , also known as Liem Sioe Liong, is a Chinese Indonesian businessman of Hokchia origin. He was once considered the richest individual in Indonesia. He was the head of the conglomerate Salim Group before turning over its management to his youngest son Anthony in 1992.-Early life:Salim...
, an Indonesian Chinese entrepreneur and Anthoni Salim's father. - 1982: Acquired Hibernia Bank in San Francisco, United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
. First Pacific International established to hold the Group’s marketing and distribution businesses - 1985: Invested in First Pacific Davies in Hong Kong
- 1987: Acquired Hong Nin Savings BankHong Nin Savings BankHong Nin Savings Bank was a bank in Hong Kong, founded in the 1930s. The bank went into administration in September 1986 following defaults on several loans related to shipping, and was taken over by the colonial Government of Hong Kong.Hong Nin was subsequently acquired by First Pacific and...
in Hong Kong from British Hong KongBritish Hong KongBritish Hong Kong refers to Hong Kong as a Crown colony and later, a British dependent territory under British administration from 1841 to 1997.- Colonial establishment :...
Government - 1988: Sold Hibernia Bank. First Pacific Holdings and First Pacific International merged to form the currently listed First Pacific Company. Acquired Pacific Link
- 1989: Acquired Imagineering AustraliaImagineering AustraliaImagineering was a software distribution company founded by Jodee Rich in the early 1980s. It grew rapidly before running into financial trouble in the late 1980s. Imagineering was sold to First Pacific in 1990 at which time Jodee Rich left the business...
(named Tech PacificTech PacificTech Pacific functioned as an Asian-Pacific IT wholesale distributor with offices throughout Australia, New Zealand, Singapore, Malaysia, Thailand, India and Hong Kong....
thereafter) - 1992: Acquired Far East BankFar East BankFar East Bank was a bank in Hong Kong. It is now merged to Bank of East Asia.It was founded in 1959 by Mr. Deacon Chiu , the founder of Far East Holdings. It is started as a small bank in Tsuen Wan by collecting deposits from farmers. In 1960s, it suffered heavily from heavy lending to property...
and merged with Hong Nin Savings Bank, renamed and listed as First Pacific BankFirst Pacific BankFirst Pacific Bank Limited was a bank based in Hong Kong. It was a wholly owned subsidiary of the investment holding company FPB Bank Holding Company Limited...
in Hong Kong - 1996: First Pacific became a constituent of the Hang Seng IndexHang Seng IndexThe Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong...
(blue chip stock) - 1997: Sold Tech Pacific to HagemeyerHagemeyerHagemeyer was a business-to-business distribution services group focusing on the markets for electrical materials, safety and other maintenance, repair and operations products in Europe, North America and Asia-Pacific. It was based in the Netherlands but was acquired by rival Rexel in 2008, with...
and Pacific Link to Hong Kong TelecomHong Kong TelecomHong Kong Telecommunications Limited, Hong Kong Telecom , or Cable & Wireless HKT Limited later, was the largest telecommunications service provider in Hong Kong. It was parented by Cable & Wireless. It had a dominant position in fixed-line, IDD and broadband services in Hong Kong... - 2000: Sold First Pacific Bank to Bank of East AsiaBank of East AsiaThe Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...
- 2001: Removed from a constituent of the Hang Seng Index.