P.ASSUDAMAL (H.K.) LTD

Company Description

The origin of P.ASSUDAMAL (H.K.) LTD group dates back to 1929 when Utoomal & Assudamal Co. was amongst the few trading companies in Hong Kong. The late Assudamal Vaswani founded this company. In 1959 his sons C. A. Vaswani and K. A.Vaswani founded their own company, which operated as a partnership firm, and in 1971 Assudamal & Sons (HK) Limited was incorporated as a limited liability company. Realizing the potential of the African market, the company ventured into setting up its own operations in Nigeria in 1972 which today accounts for a major share of the groups business. The business has been growing substantially during the last few years and as the members of the founding families also have been growing, it was felt that it would be expedient for both C.A Vaswani and K.A Vaswani to separate amicably their businesses for more effective control, efficient operations and proper compliance with established rules and procedures both internally and externally. With that in view Mr. K.A Vaswani has incorporated P. Assudamal H.K Ltd in September 2009 with full fledged operations starting 1st April 2010 after its formal separation from Assudamal & Sons (HK) Ltd on 31st March 2010.