Annual Report (852) 2786 8888 (852) 2745 0300 62
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Transport International Holdings Limited Transport International Holdings Limited 2009 Annual Report Transport International Holdings Limited 9 Po Lun Street, Lai Chi Kok, Kowloon, Hong Kong Telephone: (852) 2786 8888 Facsimile: (852) 2745 0300 www.tih.hk Stock Code: 62 Committed to Developing Our People Concept and design by YELLOW CREATIVE (HK) LIMITED and Delivering Quality Services 2009 Annual Report The FSC logo identifies products which contain wood from well-managed forests certified in accordance with the rules of the Forest Stewardship Council. Contents 4 Group Profile 6 Behind the Brand 8 Business at a Glance 10 The Group’s Strategic Locations 12 Financial and Operational Highlights 14 Corporate Milestones 2009 16 Chairman’s Letter 20 Interview with the Managing Director 24 Corporate Governance Report 38 Remuneration Report 42 Management Discussion and Analysis • Operational Review Hong Kong • Operational Review China Mainland • Delivering Quality Services and Developing Our People • Corporate Social Responsibility • Financial Review 112 Directors’ Profiles 118 Senior Management 119 Corporate Executives 120 Financial Reports 204 Financial Summary 205 Corporate Directory Committed to Developing Our People and Delivering Quality Services At the heart of the development of the businesses of Transport International Holdings Limited (“TIH”) in Hong Kong and China Mainland lie its people. The Group’s core strengths of innovation, efficiency and service excellence all depend on first-rate people working together to deliver the very best. Our commitment to service excellence is geared towards the satisfaction of increasingly sophisticated and discerning customers who are looking for transport services that offer excellence in quality in addition to good value for money. We share one and the same goal with all our customers: the delivery of top quality service across our operations. 2009 ANNUAL REPORT 1 2 TRANSPORT INTERNATIONAL HOLDINGS LIMITED Service from the Heart Service from the Heart Committed to providing our customers with service from the heart, the Group provides tailor-made training for staff at all levels. Besides equipping our people with the skills required to handle challenging customer service situations, the training cultivates a positive mindset and raises awareness of customers’ expectations of quality service – from the heart. 2009 ANNUAL REPORT 3 Group Profile We Are Transport International Transport International Holdings Limited (“TIH” or the “Company”, SEHK: 62) is a leading public transport operator in Hong Kong and China Mainland. TIH is the holding company of The Kowloon Motor Bus Company (1933) Limited, Long Win Bus Company Limited, RoadShow Holdings Limited and a number of non-franchised transport providers. It also has business interests in property holdings and development in Hong Kong. TIH’s vision is to become a global leader in public transport. It strives to achieve this by delivering services of the highest quality and by adopting innovative and environment-friendly solutions based on its customers’ needs. The Company’s mission is to continuously enhance shareholder value while helping to foster the social and economic development of Greater China. We will continue to target sustainable development based on a model of high productivity and efficiency through leveraging the strengths of our operating companies in driving forward the standard of public transport services. 4 TRANSPORT INTERNATIONAL HOLDINGS LIMITED Group Profile 2009 ANNUAL REPORT 5 Behind the Brand Mission Our mission is to enhance shareholder value and contribute to the social and economic development of Greater China. This mission drives our business operations: Distinctive customer service Reliable performance Innovation Value for money Environmental responsibility Sustainable business practice By listening to our customers, identifying their expectations and developing our people to meet those expectations, we raise the quality of our service in all areas of our operations. 6 TRANSPORT INTERNATIONAL HOLDINGS LIMITED Behind the Brand Vision Our vision to be a global leader in public transport is based on three pillars: understanding our customers’ needs, introducing innovative and proven technologies that further environmental preservation, and setting new standards for safety, service and efficiency. Corporate Values In line with our commitment to sustainable business excellence, our corporate values are based on delivering service standards that meet customer needs, operating with a consistent record of profitability for shareholders, and supporting the overall development of the communities in which we conduct our business. 2009 ANNUAL REPORT 7 Business at a Glance Business at a Glance The Group’s Strategic Locations TRANSPORT INTERNATIONAL HOLDINGS LIMITED Average number of passenger trips per day by mode of public transport in Hong Kong in 2009 (in thousand) HONG KONG CHINA MAINLAND Franchised Public Bus Non-franchised Property Holdings and Media Sales Business Financial Services Mainland Transport Operations Transport Operations Development Operations The Kowloon Motor Bus Sun Bus Holdings Limited Lai Chi Kok Properties RoadShow Holdings KMB Financial Services Shenzhen Bus Group Company (1933) Limited and its subsidiaries Investment Limited Limited and its subsidiaries Limited Company Limited the flagship company of the with Sun Bus Limited as the has developed “Manhattan market advertising in Hong Kong manages and administers the is a Sino-foreign joint stock Group, operates franchised flagship company, have 377 Hill”, a prestigious multi-storey through an integrated media Group’s financial resources and company that operates public public bus services with a fleet of buses which provide a wide residential complex situated at platform which includes the treasury functions. bus and taxi hire services in around 3,900 buses on a network range of non-franchised bus 1 Po Lun Street, Lai Chi Kok, Multi-media On-board (“MMOB”) Shenzhen. Railways 4,128 of some 400 routes covering services to the residential and Kowloon, Hong Kong. system as well as bus interior Kowloon, the New Territories and commercial sectors through and exterior advertising. TIH Group 2,722 Hong Kong Island. chartered hire services. (Franchised public bus operations) Minibuses 1,852 Taxis 954 Citybus 570 NWFB 471 Others 507 Ferries 140 Long Win Bus Company New Hong Kong Bus LCK Commercial Properties TIH Financial Services Beijing Beiqi Kowloon Taxi Limited Company Limited Limited Limited Company Limited operates franchised public bus jointly operates with its Shenzhen owns the two-level retail podium manages and administers the is a Sino-foreign joint stock services with 167 buses on 19 counterpart the 24-hour cross- of Manhattan Hill, known as financing functions for the company that operates taxi hire routes linking the New Territories boundary shuttle bus service (or “Manhattan Mid-town”, which is Manhattan Hill project. and car rental services in Beijing. The Group’s bus termini, depots and with Hong Kong International “Huang Bus” service) between situated at 1 Po Lun Street, Lai Airport and North Lantau. Lok Ma Chau in Hong Kong and Chi Kok, Kowloon, Hong Kong Huanggang in Shenzhen. and has an area of about 50,000 customer service centres in Hong Kong square feet. The Group’s headquarters Depots of The Kowloon Motor Bus Company (1933) Limited (“KMB”) Depot of Long Win Bus Company Limited (“LWB”) Bus termini of KMB and LWB LCK Real Estate Limited Customer service centres of KMB and LWB owns a 17-storey commercial Bus termini of “Huang Bus” office building which is situated at 9 Po Lun Street, Lai Chi Kok, High land area Kowloon, Hong Kong and has a total gross floor area of 156,700 Railways square feet. 8 TRANSPORT INTERNATIONAL HOLDINGS LIMITED 2009 ANNUAL REPORT 9 Business at a Glance Business at a Glance The Group’s Strategic Locations TRANSPORT INTERNATIONAL HOLDINGS LIMITED Average number of passenger trips per day by mode of public transport in Hong Kong in 2009 (in thousand) HONG KONG CHINA MAINLAND Franchised Public Bus Non-franchised Property Holdings and Media Sales Business Financial Services Mainland Transport Operations Transport Operations Development Operations The Kowloon Motor Bus Sun Bus Holdings Limited Lai Chi Kok Properties RoadShow Holdings KMB Financial Services Shenzhen Bus Group Company (1933) Limited and its subsidiaries Investment Limited Limited and its subsidiaries Limited Company Limited the flagship company of the with Sun Bus Limited as the has developed “Manhattan market advertising in Hong Kong manages and administers the is a Sino-foreign joint stock Group, operates franchised flagship company, have 377 Hill”, a prestigious multi-storey through an integrated media Group’s financial resources and company that operates public public bus services with a fleet of buses which provide a wide residential complex situated at platform which includes the treasury functions. bus and taxi hire services in around 3,900 buses on a network range of non-franchised bus 1 Po Lun Street, Lai Chi Kok, Multi-media On-board (“MMOB”) Shenzhen. Railways 4,128 of some 400 routes covering services to the residential and Kowloon, Hong Kong. system as well as bus interior Kowloon, the New Territories and commercial sectors through and exterior advertising. TIH Group 2,722 Hong Kong Island. chartered hire services. (Franchised public bus operations) Minibuses 1,852 Taxis 954 Citybus 570 NWFB 471 Others 507 Ferries 140 Long Win Bus Company