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CMH Holdings Corporation history
CMH Holdings Corporation company history timeline
In 1872, however, then Viceroy Li Hongzhang received permission to set up the country's own shipping company to compete for the shipping routes along the mainland coastline.
The company, called China Merchants Bureau and headquartered in Shanghai, started shipping operations in 1873 with the launch of the Yidun along the Shanhai-Hong Kong route.
Then, in 1877, China Merchants took over Qichang, establishing itself as one of the major shippers in the Chinese market.
In 1948, China Merchants, which now had head offices in Hong Kong, incorporated as China Merchants Steam Navigation Co.
Other port operation projects included rebuilding new warehousing operations in 1959.
In support of its reinvigorated shipping business, China Merchants launched a new ship repair business, opening the Youlian Shipyard in 1965.
The Combined Motor Holdings Group (“CMH) commenced trading operations in 1976 following the merger of various retail motor dealerships in South Africa.
In 1979, China Merchants was given the task of developing and managing the Shekou free trade zone, in Shenzhen, located just across the channel from Hong Kong.
Later in 1980, the company launched subsidiary China Merchants Lighterage Transportation Co., which grew into the Hong Kong region's largest lightering operation with a fleet of 76 vessels.
In 1986, the company bought up Hong Kong-based Union Bank of Hong Kong in a move that marked the first acquisition by a Chinese company of a publicly listed Hong Kong business.
In 1987 the holding company, Combined Motor Holdings Limited (“the Company”), listed on the JSE.
Through China Merchants Bank, the company entered the insurance market, launching subsidiary Ping An Insurance Company of China in 1988.
In 1997, China Merchants moved to boost CMIH, transferring a chunk of its toll road and other infrastructure operations into the public subsidiary.
In 1999, CMIH extended its Shekou-based port operations with acquisitions of stakes in Shekou Container Terminal and Asian Aircraft Terminal, both held by China Merchants.
Then, in 2000 with the purchase of a 49 percent share of a bulk cargo and container handling terminal in Zhangzhou, in the Fujian province, the company began a push into other mainland port markets beyond Shekou.
CMH operates throughout South Africa, employing approximately 2700 people and, at February 2018, had a market value of in excess of R1.9 billion.
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