Hongkong and Yaumati Ferry

The Hongkong and Yaumati Ferry Co. Ltd.

Type	Public (SEHK: 0050)
Industry	Transport
Founded	1897
Headquarters	Tsing Yi, Hong Kong
Key people	Colin Lam Ko Yin, Chairman Dr David Ho, General Manager
Products	Ferry, Property
Revenue	HKD 764m (2005)
Net income	HKD 243m
Number of employees	400
Website	http://www.hkf.com/
Footnotes / references Associate of Henderson Land Development

The Hongkong and Yaumati Ferry Company Limited (Chinese: 香港油蔴地小輪有限公司), HYF, is a ferry company founded in 1897 in Hong Kong. It is commonly known as Yaumati Ferry (油蔴地小輪). After restructuring the company in 1989, it became a subsidiary of Hong Kong Ferry (Holdings) Company Limited (香港小輪(集團)有限公司).

The company extended its business from ferry into property development and investment, shipyard, travel and hotel, with 400 staff.

History

The original company was founded by a Chinese business man named Lau Tak Po in 1897 during the Colonial Hong Kong era. At the time he purchased 5 wooden boats and provided services exclusively to Kowloon under the company name "Yaumati Ferry".^[1]

In 1924 Yaumati Ferry obtained the franchise license for the rights to the transportation route, blocking off competition from Star Ferry company. As a result, the Yaumati Ferry company became the largest Chinese-owned company in the world at that point in time, profiting from the transportation demand of Kowloon expansion.

The company later became "Hong Kong and Yaumati Ferry". This included the vehicular ferry which served to transport motor vehicles across Victoria Harbour for many years prior to the opening of the Cross Harbour Tunnel, Eastern Harbour Tunnel and Western Harbour Tunnel in 1972, 1989 and 1997. The company decided to give up the ferry licenses in 1999, and these licenses were transferred to the New World First Ferry on 15 January 2000.

Ownership and control

According to official documents, Henderson Investment Ltd. is the company's largest shareholder, beneficially owning 31.33% of the share capital of the Company as at 31 December 2005. Henderson chairman Dr. Lee Shau Kee and Vice Chairman Colin Lam are also Directors of the Company.

End of ferry service

Although it gave up its franchised ferry licences in 2000, the company retained the Dangerous Goods Vehicular Ferry Service routes between North Point, Kwun Tong, and Mui Wo, as these vehicles are not allowed to go through any one of the three cross harbour tunnels, while Mui Wo is situated on Lantau Island.

Fleet

Source Gary Photo Collections and 油蔴地小輪

Business Segments

For the 2005 calendar year, approximately 58% of its revenues were derived from property development projects, while Ferries and Hotels accounted for some 18% and 20% of revenues respectively.

References

External links

• Official website of Hongkong and Yaumati Ferry
• Official website of Hong Kong Ferry (Holdings)