We are getting way off topic and 70 years ago is a long time Me Old China. I only first came to Hong Kong in 1955. But let us consider three major colonial trading houses, Jardines, Hutchison and Swire. Jardines has steadily expanded its holding in Hongkong Land which after completing Exchange Square has built a substantial business in Southeast Asia and to a lesser extent in China. Dairy Farm, the motor businesses have also grown substantially in many Southeast Asian countries and entered new fields. Mandarin Oriental has expanded to cover the world, though often not very profitably. Hutchison, after Douggie Clague crashed it was rescued by The Bank and sold to Li Ka Shing. He has gained majority control of it and transformed it into a real international conglomerate with worldwide businesses in ports, telecommunications, retail and other significant holdings. And Swires, the property business has expanded into China with part of the business distributed, Cathay has become a major international airline, but airlines have been poor investments for most of the world and its ports and shipping business together with a rag bag of other little interests have gone, often to be replaced by new tiddlers, consider a bakery in Guangdong versus Watsons, which is visible in many countries. Slow not very profitable growth in bottling others fizzy drinks. No growth in retail, motor business or manufacturing. Cans, soup, UK hotels, no success anywhere. I do not subscribe to Swire being outstanding managers, rather they are the also rans.