The Bombay Burmah Trading Corporation
Limited (often simply called the "Bombay Burmah Trading Company") was formed in 1863 by the Wallace Brothers
. The Corporation was originally formed as a public company to engage in the Burmese tea business by taking over the assets in Burma of William Wallace. It is India's second oldest publicly quoted company.
The Wallace Brothers were a Scottish merchant house in Edinburgh
. The six brothers first arrived in Bombay
(now Mumbai) in the 1840s. A Bombay partnership was formed in 1848 as “Wallace Bros & Co”. In the mid 1850s the Wallaces set up a business in Rangoon
, shipping tea to Bombay. In 1863 the business was floated as “The Bombay Burmah Trading Corporation” (BBTC). Its equity was held by Indian merchants, as well as the Wallace Brothers who had the controlling interests. By the 1870s it was a leading producer of teak
, as well as having other interests in cotton, oil exploration and shipping.
British motivations for the third Anglo-Burmese War
were partly influenced by concerns of capitalism. The Burmese state’s conflict with the BBTC furnished British leaders with a pretext for conquest. By the 1880s Wallace Brothers had become a leading financial house in London. This firm was able to affect the intelligence about Burma (and more critically, the growing French influence in the country).
The company is now part of the Wadia
group of companies.
Arnold Cecil Pointon, Bombay... Read More