Hawaiian Electric Industries, Inc. (HEI) is a holding company with its principal subsidiaries engaged in the electric utility, banking and other businesses operating primarily in the State of Hawaii. The Company's electric subsidiary Hawaiian Electric Company, Inc. (HECO), and its operating subsidiaries, Maui Electric Company, Limited (MECO) and Hawaii Electric Light Company, Inc. (HELCO), are regulated electric public utilities. HECO’s another subsidiary, Uluwehiokama Biofuels Corp. (UBC), was formed to invest in a biodiesel refining plant to be built on the island of Maui. HECO, HELCO and MECO are regulated operating electric public utilities engaged in the production, purchase, transmission, distribution and sale of electricity on the islands of Oahu; Hawaii; and Maui, Lanai and Molokai, respectively. ASB is one of the financial institutions in the State of Hawaii.