Guthrie & Company was established in 1821 by Alexander Guthrie as a trading branch of Thomas Talbot Harrington and Company. It rose to become one of the leading agency houses in Singapore during the 19th and 20th century. First located in a rented godown at Hill Street, the company sold British goods to the European and Chinese quarters of Singapore. The business was later expanded to include services in transshipment, cargo storage, insurance, and local forwarding. With changes in partnerships, the company was renamed to Messrs Guthrie and Company in 1833. By the mid-19th century, the company's main business was in the trading of British goods and Straits produce. The firm also entered into property investment and was agents for several shipping, property and banking businesses including the London banking firm of Coutts. Under the leadership of John Anderson, the firm diversified its interests into agricultural and mining estates in the Malay Peninsula and the surrounding region. In 1903, Guthrie and Company, and its London office, Scott and Company, merged to become a limited liability company. John Hay further established the firm's position as one of the leading rubber producing companies. After the Second World War, the Guthrie head office shifted to London. The Guthrie Corporation has since grown into a global network of companies. The Masagung family of Indonesia owns Singapore-based Guthrie GTS whose core business is in investment holding, engineering, property investment and management.
Early Beginnings
Early Beginnings
Alexander Guthrie, a Scot, first arrived from the Cape of the Good Hope to Singapore in 1821 to set up a trading branch of Thomas Talbot Harrington and Company. He obtained his indenture to trade in Singapore from the Marquis of Hastings, Governor-General of India on 10 April 1820, and was the sixth indentured trader to establish himself in Singapore. With the help of Alexander Laurie Johnston and William Farquhar, Guthrie rented a godown at Hill Street where he began his sale of British goods such as woolen cloth, cotton twist, nails, axes, knives, clocks, stationery, brandy and sherry to the Chinese and European quarters of Singapore town. Following the practice of A. L. Johnston, Guthrie carried out his trade through Chinese middlemen.
When the godown was sold off by its owner, Guthrie obtained Farquhar's help to secure a plot of land at High Street where he built his second godown. Guthrie lost his second godown when the layout of Singapore town was reorganised upon Raffles' return. Undeterred, he leased a patch of swamp from the government in the Boat Quay area where he built his third godown. Business took off and the establishment of Messrs Harrington and Guthrie was formally announced on 1 February 1823. The partnership between Guthrie and Harrington came to an end on 8 November 1823. In February 1824, Guthrie entered into a new partnership with James Scott Clark and the company was renamed Messrs Guthrie and Clark. Clark left the firm in 1833.
Moving from the sole import of British manufactures, Guthrie started trading British goods for Straits produce such as were rice, coconut oil, pepper, clove, nutmeg, mace, camphor, birds nests and rattans. Trade links were established with places like Siam, Saigon and Borneo. Guthrie also started services in transshipment, cargo storage, insurance and local forwarding. Aside from trade, Guthrie also dabbled in agriculture. In 1824, he started a plantation to grow gambier, pepper and other spices but frequent tiger attacks made the hiring of labour difficult. He also invested in nutmeg and clove plantations near Spottiswoode Park. Though the Everton estate at Spottiswoode Park was later destroyed by disease, the company profited through the rent and sale of property. Alexander Guthrie handed over the reins of the company to his nephew, James Guthrie, and left Singapore on 8 February 1847. He died in London on 12 March 1865.
James Guthrie arrived to Singapore in 1829 at the age of 15. He soon proved his abilities and was made partner in January 1837. The firm prospered under the younger Guthrie. The company became the agents for the London Fire Assurance Company, the Triton Insurance Company and the London and Provincial Marine Insurance Company. The firm also turned in profits when the Chinese began insuring their goods. James Guthrie left Singapore in 1856 and retired from the firm in 1876. He died in Tunbridge Wells in 1900 and was buried at Kensal Green Cemetery in London.
The firm continued to expand and grow under the management of various partners, some of whom held significant positions in the local society. They include John James Greenshields (made partner in 1849), Thomas Scott, also known as the father of the Tanjong Pagar Dock Company (made partner in 1857 and then senior partner in 1867) and Louis John Robertson Glass (made partner in 1874 and then senior partner in 1876). Thomas Scott returned to London in 1873 and started a firm called Scott & Company. Scott & Company merged with Guthrie & Co. to form Guthrie & Co. Limited in 28 February 1903.
Venturing Into the Interior of Malaya
When the godown was sold off by its owner, Guthrie obtained Farquhar's help to secure a plot of land at High Street where he built his second godown. Guthrie lost his second godown when the layout of Singapore town was reorganised upon Raffles' return. Undeterred, he leased a patch of swamp from the government in the Boat Quay area where he built his third godown. Business took off and the establishment of Messrs Harrington and Guthrie was formally announced on 1 February 1823. The partnership between Guthrie and Harrington came to an end on 8 November 1823. In February 1824, Guthrie entered into a new partnership with James Scott Clark and the company was renamed Messrs Guthrie and Clark. Clark left the firm in 1833.
Moving from the sole import of British manufactures, Guthrie started trading British goods for Straits produce such as were rice, coconut oil, pepper, clove, nutmeg, mace, camphor, birds nests and rattans. Trade links were established with places like Siam, Saigon and Borneo. Guthrie also started services in transshipment, cargo storage, insurance and local forwarding. Aside from trade, Guthrie also dabbled in agriculture. In 1824, he started a plantation to grow gambier, pepper and other spices but frequent tiger attacks made the hiring of labour difficult. He also invested in nutmeg and clove plantations near Spottiswoode Park. Though the Everton estate at Spottiswoode Park was later destroyed by disease, the company profited through the rent and sale of property. Alexander Guthrie handed over the reins of the company to his nephew, James Guthrie, and left Singapore on 8 February 1847. He died in London on 12 March 1865.
James Guthrie arrived to Singapore in 1829 at the age of 15. He soon proved his abilities and was made partner in January 1837. The firm prospered under the younger Guthrie. The company became the agents for the London Fire Assurance Company, the Triton Insurance Company and the London and Provincial Marine Insurance Company. The firm also turned in profits when the Chinese began insuring their goods. James Guthrie left Singapore in 1856 and retired from the firm in 1876. He died in Tunbridge Wells in 1900 and was buried at Kensal Green Cemetery in London.
The firm continued to expand and grow under the management of various partners, some of whom held significant positions in the local society. They include John James Greenshields (made partner in 1849), Thomas Scott, also known as the father of the Tanjong Pagar Dock Company (made partner in 1857 and then senior partner in 1867) and Louis John Robertson Glass (made partner in 1874 and then senior partner in 1876). Thomas Scott returned to London in 1873 and started a firm called Scott & Company. Scott & Company merged with Guthrie & Co. to form Guthrie & Co. Limited in 28 February 1903.
Venturing Into the Interior of Malaya
With the formation of the Federated Malay States on 1 July 1896, development in the interior of the Malay Peninsula became possible. So in 1896, the firm became one of the first companies to venture into the Malay states. They became agents for five coffee estates in Selangor and two in Negri Sembilan. They also purchased a rubber estate in Perak with Malayan businessman, Loke Yew. In January 1876, John Anderson joined the firm and eventually assumed the position of Governing Director. Anderson was responsible for the firms many planting and mining interests in Malaya and steered the company's policy for the first quarter of the 20th century. He also played a decisive role in the development of the rubber industry in Malaya. John Anderson left Singapore in 1912.
By the early 20 th century, Guthrie & Co.'s main interests were in rubber and general trading. The firm were agents for several rubber plantation companies in Malaya, Borneo and Sumatra. These include the Selangor Rubber Co., Linggi Plantations Ltd. (1904) and the United Sua Betong Rubber Estates Ltd (1909). The company thrived with the rubber boom. The firm also held side businesses in the export of sandalwood from Western Australia and tin dredging. The Renong Dredging Company (1908) in southern Thailand operated the first land tin dredge in Southeast Asia.
In 1904, John Hay joined the firm and rose to become its General Manager in 1925. He was a formidable figure in the rubber industry, and was instrumental in the establishment of the International Rubber Regulation Agreement of 1934. The agreement sought to stabilise world rubber prices by restricting rubber production. Under his leadership, the company benefited from the introduction of new grafting techniques (like bud grafting) and agricultural hormones (like Stimulex) that produced higher-yielding trees. In 1961, Dynat, a more homogenous form of natural rubber was launched to compete against synthetic rubber. Besides rubber, the firm also made substantial investments in oil palms since 1924.
Business came to a halt with the Japanese Occupation. The Guthrie head office in Singapore was bombed and many of the company's employees were interned in war camps. After the war, the Guthrie head office moved to London. The company went global with interests in Zimbabwe, Australia, Canada, and South Africa. On 1 January 1961, a cooperative named Guthrie Estates Agency Ltd. was formed with a subsidiary Guthrie Agency (Malaya) Ltd. to manage its various constituencies. With this change, the secretarial and agency services of the Guthrie Group were decentralised to the various companies under its name.
In 1972, the Guthrie arm in Singapore acquired half of Jardine Waugh's stake and the company was renamed to Guthrie Berhad in 1973. The company became a public listed company on the Stock Exchange of Singapore in 1974. Mulpha International Trading Corporation Berhad bought over the company in 1983 and renamed to Mulpha (S) Ltd. In 1988, the Masagung family of Indonesia bought over the company and renamed the firm to Guthrie GTS Ltd. Today, Guthrie GTS's core business is in investment holding, engineering, property investment and management.
Location of Guthrie Office in Singapore
By the 1850s, the Guthrie & Co. office and godown were already located at Collyer Quay (where The Arcade now stands). The two-storied building, with a central tower, housed the office on the upper floor and the warehouse on the lower floor. The head office was there at least until 1905, before it shifted to a plot of land at Battery Road which the widow of James Guthrie, Sophia nee Fraser, had deeded over to the company. In 1950, the land was sold to The Chartered Bank and The Standard Chartered Bank Building stands on this plot of land today. Guthrie GTS is presently located at the Guthrie House at Fifth Avenue.
Author
Joshua Chia Yeong Jia
References
AIM25. (2000). School of Oriental and African Studies: Guthrie Corporation. Retrieved July 25, 2007, from www.aim25.ac.uk/cgi-bin/frames/fulldesc?inst_id=19&coll_id=72
Allen, G. C., & Donnithorne, A. G. (2003). Western enterprise in Indonesia and Malaya: A study in economic development (pp. 54-55). London: Routledge.(Call no.: RBUS 338.9ALL)
Buckley, C. B. (1984). An anecdotal history of old times in Singapore (pp. 65-66). Singapore: Oxford University Press.
(Call no.: RSING 959.57BUC)
Cunyngham-Brown, S. (1971). The traders: A story of Britain's Southeast Asian commercial adventure. London: Newman Neamie.
(Call no.: RSING 382.0959 CUN)
Edwards, N. & Keys, P. (1988). Singapore: A guide to buildings, streets, places (p. 447). Singapore: Times Book International.
(Call no.: RSING 915.957 EDW-[TRA])
Guthrie GST Limited (2005). Corporate profile. Retrieved January 24, 2007, from www.guthrie-gts.com/profile.html
Kumpulan Guthrie Berhad (2005). Guthrie milestone. Retrieved April 13, 2007, from www.guthrie.com.my/html/history.html
(1962, August 10).The last big sir. Time. Retrieved April 13, 2007, from www.time.com/time/magazine/article/0,9171,873728,00.html
Makepeace, W., Brooke, G. E., & Braddell, R. St. J. (Eds.). (1991). One hundred years of Singapore (Vol. 2, p. 195). Singapore: Oxford University Press.(Call no.: RSING 959.57 ONE)
Singapore International Chamber of Commerce. (1979). From early days (pp. 41-43). Singapore: The Chamber.
(Call no.: RSING 380.10655957SIN)
Through fair and foul. (2002, December 1). Malaysian Business. Retrieved July 25, 2007, from Factiva database.
Wright, A., & Cartwright, H. A. (1908) Twentieth century impressions of British Malaya: Its history, people, commerce, industries, and resources (pp. 669, 672) [Microfilm: NL 16084]. London: Lloyd's Greater Britain Pub.
(Call no.: RRARE 959.51033 TWE)
The information in this article is valid as at 2007 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.
By the early 20 th century, Guthrie & Co.'s main interests were in rubber and general trading. The firm were agents for several rubber plantation companies in Malaya, Borneo and Sumatra. These include the Selangor Rubber Co., Linggi Plantations Ltd. (1904) and the United Sua Betong Rubber Estates Ltd (1909). The company thrived with the rubber boom. The firm also held side businesses in the export of sandalwood from Western Australia and tin dredging. The Renong Dredging Company (1908) in southern Thailand operated the first land tin dredge in Southeast Asia.
In 1904, John Hay joined the firm and rose to become its General Manager in 1925. He was a formidable figure in the rubber industry, and was instrumental in the establishment of the International Rubber Regulation Agreement of 1934. The agreement sought to stabilise world rubber prices by restricting rubber production. Under his leadership, the company benefited from the introduction of new grafting techniques (like bud grafting) and agricultural hormones (like Stimulex) that produced higher-yielding trees. In 1961, Dynat, a more homogenous form of natural rubber was launched to compete against synthetic rubber. Besides rubber, the firm also made substantial investments in oil palms since 1924.
Business came to a halt with the Japanese Occupation. The Guthrie head office in Singapore was bombed and many of the company's employees were interned in war camps. After the war, the Guthrie head office moved to London. The company went global with interests in Zimbabwe, Australia, Canada, and South Africa. On 1 January 1961, a cooperative named Guthrie Estates Agency Ltd. was formed with a subsidiary Guthrie Agency (Malaya) Ltd. to manage its various constituencies. With this change, the secretarial and agency services of the Guthrie Group were decentralised to the various companies under its name.
In 1972, the Guthrie arm in Singapore acquired half of Jardine Waugh's stake and the company was renamed to Guthrie Berhad in 1973. The company became a public listed company on the Stock Exchange of Singapore in 1974. Mulpha International Trading Corporation Berhad bought over the company in 1983 and renamed to Mulpha (S) Ltd. In 1988, the Masagung family of Indonesia bought over the company and renamed the firm to Guthrie GTS Ltd. Today, Guthrie GTS's core business is in investment holding, engineering, property investment and management.
Location of Guthrie Office in Singapore
By the 1850s, the Guthrie & Co. office and godown were already located at Collyer Quay (where The Arcade now stands). The two-storied building, with a central tower, housed the office on the upper floor and the warehouse on the lower floor. The head office was there at least until 1905, before it shifted to a plot of land at Battery Road which the widow of James Guthrie, Sophia nee Fraser, had deeded over to the company. In 1950, the land was sold to The Chartered Bank and The Standard Chartered Bank Building stands on this plot of land today. Guthrie GTS is presently located at the Guthrie House at Fifth Avenue.
Author
Joshua Chia Yeong Jia
References
AIM25. (2000). School of Oriental and African Studies: Guthrie Corporation. Retrieved July 25, 2007, from www.aim25.ac.uk/cgi-bin/frames/fulldesc?inst_id=19&coll_id=72
Allen, G. C., & Donnithorne, A. G. (2003). Western enterprise in Indonesia and Malaya: A study in economic development (pp. 54-55). London: Routledge.(Call no.: RBUS 338.9ALL)
Buckley, C. B. (1984). An anecdotal history of old times in Singapore (pp. 65-66). Singapore: Oxford University Press.
(Call no.: RSING 959.57BUC)
Cunyngham-Brown, S. (1971). The traders: A story of Britain's Southeast Asian commercial adventure. London: Newman Neamie.
(Call no.: RSING 382.0959 CUN)
Edwards, N. & Keys, P. (1988). Singapore: A guide to buildings, streets, places (p. 447). Singapore: Times Book International.
(Call no.: RSING 915.957 EDW-[TRA])
Guthrie GST Limited (2005). Corporate profile. Retrieved January 24, 2007, from www.guthrie-gts.com/profile.html
Kumpulan Guthrie Berhad (2005). Guthrie milestone. Retrieved April 13, 2007, from www.guthrie.com.my/html/history.html
(1962, August 10).The last big sir. Time. Retrieved April 13, 2007, from www.time.com/time/magazine/article/0,9171,873728,00.html
Makepeace, W., Brooke, G. E., & Braddell, R. St. J. (Eds.). (1991). One hundred years of Singapore (Vol. 2, p. 195). Singapore: Oxford University Press.(Call no.: RSING 959.57 ONE)
Singapore International Chamber of Commerce. (1979). From early days (pp. 41-43). Singapore: The Chamber.
(Call no.: RSING 380.10655957SIN)
Through fair and foul. (2002, December 1). Malaysian Business. Retrieved July 25, 2007, from Factiva database.
Wright, A., & Cartwright, H. A. (1908) Twentieth century impressions of British Malaya: Its history, people, commerce, industries, and resources (pp. 669, 672) [Microfilm: NL 16084]. London: Lloyd's Greater Britain Pub.
(Call no.: RRARE 959.51033 TWE)
The information in this article is valid as at 2007 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.
