Hongkong and Yaumati Ferry

Infobox Company
company_name = The Hongkong and Yaumati Ferry Co Ltd.
company_
company_type = Public (SEHK: 0050)
foundation = 1897
location = Tsing Yi, Hong Kong, China
key_people = Colin Lam Ko Yin, "Chairman"
Dr David Ho, "General Manager"
industry = Transport
products = Ferry, Property
revenue = HKD 764m (2005)
operating_income =
net_income = HKD 243m
num_employees = 400
parent =
homepage = http://www.hkf.com/
footnotes = Associate of Henderson Land Development

The Hongkong and Yaumati Ferry Company Limited (zh-t|t=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" [Wiltshire, Trea. [First published 1987] (republished & reduced2003). Old Hong Kong - Volume One. Central, Hong Kong: Text Form Asia books Ltd. Page 71. ISBN Volume One 962-7283-59-2] .

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 in 1972. 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 December 31, 2005. Henderson chairman Dr. Lee Shau Kee and Vice Chairman Colin Lam are also Directors of the Company.

End of Ferry Service

Although giving up its franchised ferry licenses 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 [http://guyleung.hkdisk.com/album.htm Gary Photo Collections]

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

* [http://www.hkf.com/hyf Official website of Hongkong and Yaumati Ferry]
* [http://www.hkf.com/ Official website of Hong Kong Ferry (Holdings)]