The origin of the group dates back to 1929 when Utoomal & Assudamal Co. was amongst the few trading companies in Hong Kong and it was founded by late Assudamal Vaswani. In 1959 his sons Chandru Assudamal Vaswani and Kishin Assudamal Vaswani founded their own company, which was 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 the year 1971, today which accounts for a major share of the group’s business. With its conservative but consistent growth over the years, today the group has ventured beyond its trading activities into manufacturing, property investment and development, private equity investments and out-sourcing.Its business interests in over fifteen countries and offices in Hong Kong, China, India, United Kingdom, Nigeria, Kenya and Ghana and employing over 2000 people ably support this. With almost 100 years of expertise and good reputation, the group plans to further consolidate its existing businesses and grow into new areas in the near future.