GL Limited
{{Use dmy dates|date=December 2019}}
{{Infobox company
|name = GL Limited
|former_name = GuocoLeisure
Brierley Investments
|logo =
|traded_as = {{SGX|B16}}
{{ASX|BIL}}
{{NZX|GLL}}
|foundation = 1961
|founder = Ron Brierley
|defunct =
|location = Singapore
|key_people =
|industry = Investments
|products =
|revenue =
|revenue_year =
|operating_income =
|income_year =
|net_income =
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|num_employees =
|parent = Guoco Group
|subsid = See below
|website = [https://www.gl-grp.com www.gl-grp.com]}}
GL Limited is an investment company listed on the Singapore Exchange. Founded as Brierley Investments in 1961, it was formerly listed on the Australian, London and New Zealand exchanges.
History
Brierley Investments was founded by Ron Brierley in 1961[https://web.archive.org/web/20210513161107/https://www.gl-grp.com/ Who We Are] GL Limited{{cite web|title=Brierley Investments Limited (BRY)|url=http://shares.intelligentinvestor.com.au/company/Brierley-Investments-Limited-BRY-249206/|work=intelligentinvestor.com.au|accessdate=20 February 2014|url-status=dead|archiveurl=https://web.archive.org/web/20140226132529/http://shares.intelligentinvestor.com.au/company/Brierley-Investments-Limited-BRY-249206/|archivedate=26 February 2014}} and in 1985 listed on stock exchanges in Australia, England and New Zealand. It grew to become one of the biggest – and for a time most successful and glamorous – companies in the 1980s. At its peak about 150,000 New Zealanders were Brierley Investments shareholders.{{cite web|last=Van Den Bergh|first=Roeland|title=Remnants of Empire fade away|url=http://www.stuff.co.nz/business/industries/9549114/Remants-of-empire-fade-away|work=Stuff|date=23 December 2013 |publisher=Fairfax media|accessdate=20 February 2014}}
In the 1980s Brierley Investments was a feared corporate raider{{cite news|title=Brierley Investments: Grounded|url=http://www.economist.com/node/162124|newspaper=The Economist|accessdate=20 February 2014}} in Australia and Britain, but the firm stumbled after the 1987 sharemarket crash, and Brierley was eventually deposed in a boardroom coup. In the 1990s the firm's investments were poor, it mismanaged its foreign-exchange risk, and its balance sheet suffered. In 1999 the firm moved its head office to Singapore and listed on the Singapore Exchange.[https://web.archive.org/web/20110131140553/http://edition.cnn.com/ASIANOW/asiaweek/intelligence/9909/11/ Brierley Comes Home to Singapore] CNN International Asia Pacific 10 September 1999 In July 2002, BI was delisted from the Australian Securities Exchange.[https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=text&issuerId=221&announcementId=601043&documentDate=2002-06-28&documentNumber=267823 Removal of BIL Securities from Official Quotation on ASX] Australian Securities Exchange 28 June 2002
In 2003, Brierley Investments was acquired by the Guoco Group and rebranded GuocoLeisure in November 2007.[https://web.archive.org/web/20140226073234/https://www.nzx.com/markets/NZSX/securities/GLL/analysis GoodLeisure Limited] New Zealand Exchange Due to a low volume of trading, GuocoLeisure's board decided to delist from the New Zealand Exchange in June 2014.[http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GLL/245616/187210.pdf Delisting of GuocoLeisure Limited from NZX Main Board] GuocoLeisure 23 December 2013[https://web.archive.org/web/20211014102830/https://www.scoop.co.nz/stories/BU1312/S00827/guocoleisure-once-known-as-brierley-to-leave-nzx-mid-2014.htm GuocoLeisure, once known as Brierly, to leave NZX mid-2014] Scoop 23 December 2013[https://web.archive.org/web/20210126220315/https://www.nzherald.co.nz/business/brian-gaynor-brierley-investments-delisting-end-of-an-era/5QM35XSE5P46GXGQEZBUBX3XDM/ Brierly Investments delisting end of an era] New Zealand Herald 20 June 2014
Investments
- Air New Zealand (35%)[https://web.archive.org/web/20070621151238/http://www.airnz.co.nz/resources/company_history_feb_06.pdf History] Air New Zealand
- Fairfax Media (25%)[https://web.archive.org/web/20110328071211/https://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=reasons_for_decisions/1991/003.htm&pageID=&Year=1991 John Fairfax Holdings Ltd] Australian Takeovers Panel
- Clermont Hotel Group
- Guinness Peat Group
- Industrial Equity Limited
- James Hardie (29%)
- Thistle Hotels (46%)
- Union Company (100%)
References
{{reflist}}
Category:Companies formerly listed on the Australian Securities Exchange
Category:Companies formerly listed on the London Stock Exchange
Category:Companies formerly listed on the Singapore Exchange
Category:Companies listed on the New Zealand Exchange
Category:Financial services companies established in 1961
Category:Financial services companies of New Zealand