The Electrical and Mechanical Services Trading Fund (EMSTF) saw another year of steady performance in 2003-04 despite a major SARS outbreak and the Government's austerity programme which continued to impose fiscal constraints on its client departments. This was achieved by providing quality service to customers and at the same time exploring new opportunities for progress.
According to the EMSTF annual report for 2003-04 published today (October 13), the Trading Fund recorded a total revenue of $3,151 million and 11.5% return on revenue.
Revenue was slightly down from the previous year but still above target. The slight decrease in revenue was due to price reductions to share its clients' austerity and various initiatives to do more for clients at the same or reduced budgets, rather than loss of business to competitors.
The Trading Fund's General Manager and Director of Electrical and Mechanical Services, Mr Roger Lai Sze-hoi, said that results in 2003-04 proved that EMSTF had the ability to meet its financial targets while achieving so much more. While the EMSTF has prepared itself to face more difficulties and challenges in the next several years, it is also confident that it can do better and deliver more value to customers in the process.
The EMSTF colleagues, even during the crisis of the SARS epidemic in 2003, never hesitated to work side by side with client departments to do whatever was possible to bring the disease under control. "We are proud to report that EMSTF has lived up to its mission," Mr Lai said.
The Trading Fund has begun to adopt a strategy to help clients save cost and boost productivity by the innovation and technology. It also held its first technology exhibition in early 2004 to showcase its technology and IT capabilities and projects, including the Radio Frequency Identification (RFID), remote imaging/monitoring and energy saving technologies, etc., with very positive feedback from current and prospective clients in the public and subvented sectors.
In terms of business, the Trading Fund won several major contracts and successfully renewed several Service Level Agreements with major customers during the year, which provided the basis for the stability of its business in the next few years. It has also begun to take up certain facility management services at certain venues to meet client needs.
"A Symphony of Lights" for which the EMSTF team managed the installation of thousands of lights on five waterfront buildings within a very tight timeframe, was another success during the year.
It is also worth noting that in its latest Customer Satisfaction Survey and Staff Satisfaction Survey, the EMSTF hit a record high in each of those scores, a sign that there has been continuous improvement in both customer satisfaction and staff satisfaction.
"We are confident that our E&M technology and IT application capabilities will enable our clients to achieve more with fewer resources," Mr Lai noted.
The EMSTF's services are provided via six business units and a service development unit, which cover different areas of special expertise. Many of the specialised areas are vital to the safety and well being of the community.
These include airport and vehicle engineering services, health sector services, municipal sector services, project services, general engineering services, transport, security and central services and information technology services.
Ends/Wednesday, October 13, 2004