The Benevolent Foundation of The East Asiatic Company Limited (EAC Foundation) was established on 9 June 1988, by the Company and its Managing Directors Henning H. Sparsø, John Arthur Hansen, and Flemming Hasle.
The Foundation’s charter included a Deed of Gift issued by the Company, whereby EAC committed to make annual contributions to the Foundation equal to 2% of its annual profits. The initial capital injection was DKK 2,363,000.
The terms of the Deed of Gift were subsequently amended and in April 2006, the Company had fulfilled its financial obligations under the amended deed and served notice of termination. Thus, except for income from investments, the Foundation would thereafter not receive any further capital injections. The Foundation capital in 2006 had reached DKK 150 million.
Asia House
Asia House is owned by the Foundation. Asia House was built in 1897 by The East Asiatic Company and served as the Company’s first head office in Denmark from 1898 – 1907. Asia House was given to the Foundation in 2006 as a gift from The East Asiatic Company. The Foundation is today domiciled in Asia House.
East Asiatic House
East Asiatic House, adjacent to Asia House, served as head office of The East Asiatic Company from 2006 until the Company’s name was changed to Santa Fe Group, and its head office moved to London, UK. The Foundation acquired the office building in 2017 and in collaboration with municipal and other private parties, the Foundation established Innovation House China-Denmark, a business start-up facility, making it easier for entrepreneurs and companies to do business in each other’s country.
Exciting New Educational Material on the History of EAC!
EAC – The World Class Company – a series narrated by Anette Eggert Frydenberg and Ebbe Kyrø
Access the series here!
You’re likely familiar with H.C. Andersen, but have you heard of H.N. Andersen? Discover his story effortlessly through accessible teaching materials supported by the EAC Foundation and Orient’s Fond. The East Asiatic Company’s history is a pivotal chapter in Danish business history. The series spotlights one of Denmark’s most visionary entrepreneurs, H.N. Andersen, and explores how he brought his vision of a global company to life, and how the adventure one day ended.
EAC – The World Class Company is a six-part documentary series supplemented by textual material featuring student assignments and a bibliography. The initial five parts delve into five phases of ØK’s developmental history, while the sixth part provides insights into the organisation and corporate culture of EAC.
The educational material outlines the broader context, tracing how EAC navigated through economic ups and downs, crises, and wars, adapting to changing conditions. This comprehensive resource is a complimentary educational offering for high school students (Stx, Hhx, Htx, HF), as well as students at Martec (maritime studies). It can be incorporated into the curriculum at Simac (maritime academy) and CBS (business and maritime history). The series also appeals to a broader audience of Danes interested in business and maritime history, as well as the international connections of the EAC Foundation.
Note: The series features Danish narration but is currently in the process of being developed with subtitles in multiple languages, including English.