Contributing to the Growth of Hong Kong for Years
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Transport International Holdings Limited CONTRIBUTING TO THE GROWTH OF HONG KONG FOR 80 YEARS 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 Concept and design by YELLOW CREATIVE (HK) LIMITED 2012 Annual Report The FSCTM logo identifies products which contain wood from well-managed forests certified in accordance with the rules of the Forest Stewardship Council. Transport International Holdings Limited 2012 Annual Report TIH_Eng.indb 2 13年4月17日 下午4:10 Corporate Directory BOARD OF DIRECTORS BOARD COMMITTEES Bermuda Dr Norman LEUNG Nai Pang^ Audit Committee Butterfield Fulcrum Group GBS, JP, LLD, BA Dr Eric LI Ka Cheung (Bermuda) Limited Chairman CONTRIBUTING TO SIU Kwing-chue, Gordon 26 Burnaby Street Hamilton HM 11 Dr John CHAN Cho Chak^ John Anthony MILLER THE GROWTH OF HONG KONG GBS, JP, DBA(Hon), DSocSc(Hon), Bermuda BA, DipMS, CCMI, FCILT, FHKIoD Nomination Committee Deputy Chairman REGISTER OF MEMBERS Dr John CHAN Cho Chak FOR YEARS Book closure for 2013 AGM: KWOK Ping-luen, Raymond# Dr Eric LI Ka Cheung 16 May 2013 to 23 May 2013 80 JP, MA(Cantab), MBA, Hon DBA, Hon LLD SIU Kwing-chue, Gordon (both dates inclusive) Dr KWOK Ping-sheung, Walter# Remuneration Committee JP, D.Sc., MSc(Lond), DIC, MICE Book closure for 2012 final dividend: Dr John CHAN Cho Chak 29 May 2013 NG Siu Chan# Dr Eric LI Ka Cheung Professor LIU Pak-wai DIVIDENDS 1933 William LOUEY Lai Kuen# BSc(Econ) Standing Committee Interim HK$0.15 per share, Dr Norman LEUNG Nai Pang Charles LUI Chung Yuen paid on 16 October 2012 M.H., BEc, AASA, FCILT KWOK Ping-luen, Raymond Executive Director Dr John CHAN Cho Chak Final (proposed) Winnie NG# Charles LUI Chung Yuen HK$0.45 per share, BA, MBA(Chicago), MPA(Harvard), Edmond HO Tat Man payable on 7 June 2013 FCIM, CMILT, MHKIoD (Non-executive Director and Alternate Winnie NG STOCK CODE Director to Mr NG Siu Chan#) COMPANY SECRETARY The Stock Exchange of Hong Kong: 62 Dr Eric LI Ka Cheung^ Lana WOO Bloomberg: 62HK GBS, OBE, JP, LLD, DSocSc, BA, MBA, BA, AAT, CGA, FCIS, MIFC, CFC Reuters: 0062.HK FCPA(Practising), FCA, FCPA(Aust.), FCIS REGISTERED OFFICE CUSTOMER SERVICE Edmond HO Tat Man HOTLINES Transport International Holdings Limited (“TIH”) operates in the spirit of MA(Cantab), MBA, FCILT, MHKIoD Clarendon House, 2 Church Street Managing Director Hamilton HM11, Bermuda The Kowloon Motor Bus Company its flagship subsidiary, The Kowloon Motor Bus Company (1933) Limited (1933) Limited SIU Kwing-chue, Gordon^ PRINCIPAL OFFICE (“KMB”), which has been contributing to the growth of Hong Kong for Telephone : (852) 2745 4466 GBS, CBE, JP, MSS(Birmingham, UK) 9 Po Lun Street, Lai Chi Kok Facsimile : (852) 2745 0600 80 years. By drawing on the strengths that have been a hallmark of Kowloon, Hong Kong John Anthony MILLER# Telephone : (852) 2786 8888 Hong Kong’s leading public bus operator since its inception in 1933, SBS, OBE, MPA(Harvard), BA(Lond) Long Win Bus Company Limited Facsimile : (852) 2745 0300 Telephone : (852) 2261 2791 namely, innovation, efficiency and service excellence, and applying Evan AU YANG Chi Chun Website: www.tih.hk them across all our business operations, we remain well placed to BA, MBA E-mail: director@tih.hk Sun Bus Limited Deputy Managing Director Telephone : (852) 2371 2666 attract discerning customers who are looking for transport services that AUDITOR ^ Professor LIU Pak-wai KPMG represent the highest quality as well as good value for money. SBS, JP 8/F, Prince’s Building, 10 Chater Road YUNG Wing Chung Central, Hong Kong (Alternate Director to Mr KWOK Ping-luen, Raymond#, JP) REGISTRARS Hong Kong SO Wai Kei, Godwin (Alternate Director to Computershare Hong Kong Dr KWOK Ping-sheung, Walter #, JP) Investor Services Limited 17/F, Hopewell Centre 183 Queen’s Road East Wan Chai, Hong Kong (^ Independent Non-executive Director of the Company) (# Non-executive Director of the Company) ( Committee Chairman) This Annual Report is also available on our corporate website: www.tih.hk TIH_Eng.indb 2 13年4月17日 下午4:10 Contents 1 2 Group Profile Sustainability Report 1 4 Business at a Glance 1 6 The Group’s Strategic Care for Locations Customers 1 8 Financial and Operational 62 Highlights 20 Corporate Milestones 2012 22 Chairman’s Letter Care for 26 Conversation with the Employees Managing Director 30 Management Discussion 70 and Analysis Business Review Care for the Environment Hong Kong Franchised Public Bus Operations 76 32 Operating Practices Hong Kong Non-franchised Transport Operations 82 50 Communication with Stakeholders China Mainland Transport Operations 86 54 Community Outreach Property Holdings and Development 90 58 92 Financial Review 1 06 Corporate Governance Report Media Sales Business 1 26 Remuneration Report 1 30 Directors’ Profiles 60 1 36 Key Corporate Executives 1 37 Financial Reports 2 1 6 Financial Summary 2 1 7 Corporate Directory CONTRIBUTING FOR 80 YEARS 1950s-1960s KMB’s bus services were expanded to 1972 meet the needs of immigrants from China Mainland and the population intake of public housing estates in Kowloon GREATER With the completion of the Cross-Harbour Tunnel, the KMB network extended onto Hong Kong Island CONNECTIVITY Serving Kowloon, the New Territories and Hong Kong Island as well as the gateway to China Mainland 2007 A boundary service, Route B1, running from Yuen Long Railway Station to Lok Ma Chau, was launched 1933 KMB was established running a fleet of 106 small single-deck buses 1949 MODERN BUS FLEET KMB was the first local company to introduce From single-deckers to double-deckers double-deck buses (model ‘Daimler A’) with the latest Euro standards 1988 Hong Kong’s first air-conditioned double-deck bus was introduced GROWING WITH HONG KONG 1933 1997 An early bus interior with wooden slatted seats PASSENGER KMB introduced the world’s first super-low floor double-deck bus with wheelchair access FRIENDLY Bringing the latest facilities to the bus compartment 1998 KMB launched the on-board electronic Bus Stop 2003 Announcement System KMB introduced a new generation of buses with the straight staircase design 1933 Conductors were employed to sell tickets to passengers 2000 MORE CONVENIENT All buses were equipped Integrating state-of-the-art with the Octopus Smart Card technology to help passengers System for fare payment access bus services 2011 KMB was the first mover to introduce smartphone app to provide bus information 2012 The Estimated Time of Arrival System was introduced at the Tuen Mun Road Bus-Bus Interchange SERVING WITH INNOVATION 1973 1988 KMB’s Technical Training School was established KMB’s Bus Captain Training School was DEVELOPING established in Sha Tin ITS PEOPLE 2007 KMB has built up a team of well-trained bus captains and maintenance staff KMB introduced Hong Kong’s first Driving Simulator Studio to enhance the training of bus captains 2009-2010 A large-scale training programme “Service from the Heart” was organised for more than 10,000 operations and maintenance staff 1933 1984 KMB’s first depot opened at the north end of Nathan Road KMB’s Overhaul Centre, listed in the Guinness Book of World Records as the largest multi-storey bus depot in the WORLD CLASS world, became operational FACILITIES 2002 Building on high quality foundations KMB’s new environment-friendly depot in Lai Chi Kok was completed 2007 The four main operating depots of KMB at Lai Chi Kok, Sha Tin, Kowloon Bay and Tuen Mun were certified by the Q-Mark Council of the Federation of Hong Kong Industries as having met the Green Mark Standard under the Hong Kong Green Mark Certification Scheme MOVING WITH THE TIMES 1972 1990s Tyre retreading was introduced Our bus-washing machines were equipped with water recycling systems ENVIRONMENTAL 2006 PIONEERS Committed to building a better environment through adopting environment-friendly solutions KMB became the first enterprise in Hong Kong to participate in the fluorescent 2008 tube recycling campaign KMB adopted Near Zero Sulphur Diesel 1992 2001 KMB installed environment-friendly Euro I engines on its buses KMB put into service Hong Kong’s first bus equipped with a Euro III engine GREEN FIRST 2009 MOVERS Leading the bus industry in Hong Kong by introducing the latest green buses KMB introduced Asia’s first Euro V air-conditioned double-deck bus 2010 Hong Kong’s first zero-emission supercapacitor bus (or “gBus”) went on trial CARING FROM THE HEART Group Profile 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 continue to contribute to the growth of Hong Kong and be a first mover in the public transport industry, as its flagship KMB has been since its establishment 80 years ago. We aim to achieve this by adopting the highest service standards based on our customers’ needs, the most innovative and environment-friendly solutions, and optimal route network efficiency. In all we do, we continue to be driven by a commitment to implementing sustainable business practices, enhancing shareholder value, and fostering the social and economic development of Greater China. 12 Transport International Holdings Limited Group Profile Mission Vision Our mission is to enhance shareholder value Our vision to be a global leader and first mover and contribute to the social and economic in public transport is founded on three principles: development of Hong Kong and China Mainland.