EMS Trading Fund reports growth and stabilityThe Electrical and Mechanical Services Trading Fund (EMSTF) reported satisfactory financial results in 2008-09, indicating a general trend of growth and stability.
According to its annual report for 2008-09 published today (October 28), the EMSTF achieved revenue of $3.761 billion. Return on revenue was 9.7%, a near double-digit return comparable to the 10.4% recorded last year.
The trading fund's General Manager and Director of Electrical and Mechanical Services, Mr Stephen Chan, reported that long-term Service Level Agreements (SLA) continued to be the stable core of the EMSTF's operations during the year, augmented by new business in infrastructure, information and communications technology (ICT), energy management and asset management, as well as increased minor works.
Mr Chan said that in particular, two outstanding achievements in 2008-09 were the EMSTF's zero-defect ICT support of the 2008 Olympic equestrian events, and the ISO 27001 certification of its Data Centre that testified to its excellence in information security.
In terms of business strategy, Mr Chan said that the trading fund had continued to strive to secure long-term SLAs with major clients, with considerable success, while exploring new business to expand the existing business scope. For example, the EMSTF has made successful inroads into large infrastructure developments through consulting services for projects such as the Guangdong-Shenzhen-Hong Kong Express Rail Link and the Cruise Terminal.
ICT and energy efficiency businesses are also growth areas as more and more government departments will require the trading fund's expertise to support their ICT development and reduce electricity consumption. The engineering asset management business has benefited from additional government funding to accelerate replacement of ageing E&M assets. The securing of new clients and the venturing into new areas of work, such as sludge incineration, have also enriched the EMSTF's portfolio.
Mr Chan said these strategies and successes had helped the trading fund gain growth momentum going into 2009-10. The EMSTF has been gearing up to capture this growth while taking all necessary measures to minimise the impact of sudden revenue peaks and troughs. It will also look for continuous productivity and service improvements, and manage prudently its operating expenditure, so that the EMSTF's business stays viable and competitive.
Ends/Wednesday, October 28, 2009
Issued at HKT 15:12