According to the Electrical and Mechanical Services Trading Fund's (EMSTF) annual report for 2000/01 published today (October 17), the Trading Fund recorded $476.7 million of after-tax profit against a total revenue of $3.171 billion, representing a return of revenue at 15 per cent.
This was achieved despite the department was undergoing phases one and two of its "untying" programme which took place in August 1999 and August 2000, respectively. Under the four-phased "untying" programme, existing public sector clients of EMSTF have a choice to stay with EMSTF or to choose alternative electrical and mechanical services providers in the market. Phase three "untying" began in August 2001.
The Trading Fund's General Manager and Director of Electrical and Mechanical Services, Mr Roger Lai Sze-hoi, said that the year had been one of continuous evolution and improvement.
"Our financial targets are more than achieved, productivity further enhanced, our quality programme making good progress, but most importantly, our clients have continued to enjoy a wide range of reliable, customer-focused and value-added services," said Mr Lai.
Mr Lai reported that the Trading Fund had achieved 20 per cent cumulative productivity gain in the first four years of its operations since August 1996, which had been passed back to clients in the form of cost savings and value-added services.
On its latest developments, he noted that the Trading Fund's seven business units had successfully renewed major contracts, won new business via competitive tenders and secured long-term service agreements from three to six years with many clients. Long-term service agreements provide continuity and service stability to clients at very attractive prices.
"In addition to being the first government department to have obtained ISO 9001 and ISO 14001 corporate certifications in previous years, the Trading Fund has just obtained the OHSAS 18001 (Occupational Health and Safety Assessment Series) corporate certification which signifies EMSTF's achievement in streamlining the management systems and operating processes to reinforce our commitment to the health, safety and well being of our colleagues as well as the quality of our services to our customers," he said.
He noted that another milestone in the year was the development of the Trading Fund's new vision, mission and values. The Trading Fund has now adopted the vision to become the "most preferred" E&M engineering service provider in Hong Kong. It also aims to create, on a day-to-day basis, a better quality of life for the community by providing total engineering solutions and service excellence for its clients and the public.
"We cannot afford to lag behind in this fast changing world," said Mr Lai. "We must ensure that our systems and processes are capable of harnessing the latest technology, and to translate them into innovative solutions and relevant services for the best interests of customers and the public," he said.
Looking forward, Mr Lai believed that the Trading Fund's technological capabilities to identify for clients untapped service areas such as energy management could create new service categories to the benefit of clients, the community and the environment.
"We look forward to playing an important role in Hong Kong's future development in this direction," he noted.
The EMSTF's services are provided via seven business units which cover special areas of expertise. Many of the specialised areas are vital to the safety and well being of the community.
These include airport sector services, health sector services, municipal sector services, project services, general engineering services, vehicle engineering services, and transport, security and central services.
End/Wednesday, October 17, 2001