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Electrical and Mechanical Services Trading Fund reports stable business

     The Electrical and Mechanical Services Trading Fund (EMSTF) reported stable business in 2007/08, with growth in information and communications technology (ICT) and energy management services.

     In its annual report for 2007/08 published today (October 29), the EMSTF recorded revenue of $3.534 billion, which was 7.3% up on 2006/07. Return was 10.4%, a slight retraction of 0.9% on the previous year. However, the EMSTF has continued to secure more long-term Service Level Agreements (SLAs) with major clients in 2007/08, further adding to the stability of its business base.

     The Trading Fund's General Manager and Director of Electrical and Mechanical Services, Mr Ho Kwong-wai, said the EMSTF made progress in strategic development, such as winning stage sound management contracts with potential growth opportunities. The ICT business has continued to grow and its Mobile CCTV service won an award in the Hong Kong ICT Awards 2007. In 2008 Beijing Olympics, the EMSTF was honoured to provide ICT support to the Equestrian Events held in Hong Kong this summer, and much of the preparation took place in 2007/08.

     Mr Ho noted that energy management service has continued to gain momentum, as client departments have been increasing their energy efficiency and renewable energy projects with their own budgets in addition to the Government's special five-year energy efficiency funding launched in 2006/07.

     New opportunities have opened up for the EMSTF as a result of the Chief Executive's pledge of government support for 10 major infrastructure projects in 2007/08. An example is the Guangdong-Shenzhen-Hong Kong Express Rail Link for which the EMSTF will be providing design review services.

     The EMSTF also completed its consultancy study on engineering asset management, which recommended a Replacement Prioritisation Model that enables clients to enhance their asset value via a systematic and risk-based approach to E&M asset replacement.

     Rising cost was the key challenge in 2007/08, and Mr Ho said that the EMSTF must work on productivity so that bottom-line results can continue to improve. This will also help the Trading Fund manage its SLAs more effectively so that stability does not lead to complacency.

     Mr Ho said he was optimistic about the EMSTF business, supported by continuous growth in ICT and energy management services, as well as surging opportunities from new infrastructure projects and ageing asset replacement.

Ends/Wednesday, October 29, 2008
Issued at HKT 12:16


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