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The Electrical and Mechanical Services Trading Fund (EMSTF) performed well in 2009-10. Overall business was stable and healthy.
According to its annual report 2009-10 published today (October 27), the EMSTF had a revenue of $4.13 billion. Return on revenue was 11.8%, compared to 9.7% in 2008-09.
The trading fund's General Manager and the Director of Electrical and Mechanical Services, Mr Stephen Chan, reported that apart from supporting clients in their daily operations as well as electrical and mechanical (E&M) projects, the trading fund had been assisting the Government in its policy initiatives to develop infrastructure and a low-carbon economy through various major infrastructure, energy efficiency, carbon-cum-energy audit and E&M asset-replacement projects.
During the reporting period, all the existing Service Level Agreements with clients were again renewed, and further agreements with various government departments were secured for the provision of E&M maintenance, engineering support and monitoring services. During the year, the EMSTF commenced work on major projects including the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the Kai Tak Cruise Terminal.
To strive for continuous improvement, Mr Chan said that the EMSTF had, after analysing its core strengths and role in the community, made adjustments to optimise its performance. The trading fund will continue to review its cost-effectiveness and human resources deployment to ensure the best mix of services provided by staff and contractors for greater efficiency and flexibility. It will also continue to assess its services in order to provide services of the best quality and value for its clients and the community at large.
Mr Chan highlighted several specific adjustments made, including a new internal structure which was in place from April to facilitate convenient and efficient communication between clients and senior management of the trading fund. Under the new internal structure, the corporate support units can focus exclusively on strategic planning and marketing to better support the operating units. A revised EMSTF Vision, Mission and Values statement also came into effect early this year to help staff better understand the trading fund's priorities so that continuous improvements can be made in the right direction.
Mr Chan said he expects EMSTF business to remain steady with some growth in 2010-11 and the next few years. The trading fund will continue to work hard to enhance productivity and improve quality of service so as to maintain its vitality and competitiveness.
Ends/Wednesday, October 27, 2010
Issued at HKT 15:25
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