will serve as an investment holding company in the Jardine group of companies.

Jardine Securities will be a wholly owned subsidiary of Bermuda-incorporated and London-listed Jardine Strategic Holdings Ltd., an investment holding vehicle with substantial interests in Jardine Matheson, Hongkong Land, Mandarin Oriental, Dairy Farm and Cycle & Carriage company groups.

The setting up of Jardine Securities is "procedural'' and its function will be "purely as an investment holding company,'' said Jardine Matheson Holdings company secretary Mr. Harry Wilken.

Reid Finance Ltd. is applying to incorporate Jardine Securities, a limited liability company.

The group's parent is Jardine Matheson Holdings Ltd., also incorporated in Bermuda.

The parent company has a primary listing on the London exchange and is also quoted on the Singapore, Australian and Luxembourg exchanges and has a sponsored American Depository Receipt (ADR) programme.

Jardine Matheson was founded in Canton in 1832 and the group now has operations in over 30 countries.

It maintains a physical presence in Bermuda at Jardine House on Reid Street.