Annual Report 2023

17 2023 Annual Report Transport International Holdings Limited In addition, KMB donated a “Caring Bus Stop Pole” to those institutions. This pole with route information printed in Braille, coupled with bus headboards, body panels, handrails, stop buttons on the bus, and onboard announcements, create a lifelike and familiar boarding environment for visually impaired elderly individuals under treatment. The immersive setting enhances the effectiveness of their training and therapy. With this setup, more than ten occupational therapy students from PolyU were offered the opportunity to engage in experiential learning. They created therapy blueprints centred around the theme of buses, embodying the concept of “drawing inspiration from daily life” in occupational therapy practice. Putting People First and Focusing on Employee Needs The Group upholds a people-oriented value system and is committed to providing a favourable working environment that allows employees to maintain a balance between work and family. To meet labour market demands, KMB and LWB have increased job flexibility by offering a five-day workweek for full-time bus captains and continually improving salaries and benefits. All employees received a 4.2% salary increase, and new bus captains recruited during the Chinese New Year period were eligible for a welcoming bonus of up to HK$30,000. Employees’ health is always a top priority. While the pandemic has subsided, seasonal flu remains rampant. To enhance employee protection, the Group has arranged for medical institutions to offer free vaccination outreach services. Additionally, the distribution of face masks to frontline staff continues, while other measures are also taken to ensure the health and well-being of employees. Challenges and Opportunities The bus operating environment is filled with challenges stemming from the tense geopolitical situation, volatile international oil prices, continuous expansion of the local railway network, and post-pandemic changes in travel patterns. Despite these challenges, the bus industry has benefited from various economic stimulus measures introduced by the Hong Kong SAR Government, as well as other effective initiatives aimed at attracting tourists. As a result, travel demand from local residents and tourists continues to recover. This has led to a corresponding increase in bus passenger volume and fare-box revenue, particularly during weekends and public holidays when land boundary crossings are heavily frequented. Looking ahead, the Group will seize the opportunities presented by the Greater Bay Area integration and strengthen transportation connectivity within the region. The Group has signed a strategic cooperation agreement with Shenzhen Bus Group Co. Limited to promote cross-boundary transportation and interconnectivity, leveraging their respective resource advantages to advance the integration of transport between Shenzhen and Hong Kong. In addition, the Group has signed a memorandum of understanding for cooperation with the Integrated Transport Centre of Abu Dhabi, United Arab Emirates. Drawing on KMB’s extensive experience in operating local public transport for over ninety years, the Group aims to contribute to the transformation of public transport in Abu Dhabi. This involves actively promoting and participating in the development of green transportation in the region, aligning with the national “Belt and Road” initiative. The Northern Metropolis is one of the key development areas in Hong Kong and, upon completion, it is expected to add 500,000 housing units. Given the rising demand for transportation services to and from the Mainland, the Group is fully committed to providing convenient bus services and favourable interchange options for both locals and visitors, ensuring a comfortable bus journey experience for all passengers. The Millennity, located in the prime area of Kwun Tong in East Kowloon, has achieved LEED Platinum pre-certification and WELL Platinum pre-certification. It has also been awarded a Platinum pre-certification for new buildings under BEAM Plus by the Hong Kong Green Building Council. These certifications recognise The Millennity’s outstanding performance in energy efficiency, environmental sustainability, and emissions reduction, among other aspects. The project consists of two buildings, including two 20-storey Grade-A office towers and a 10-storey large-scale shopping mall at the podium level. The office towers have already been occupied by several major corporations and, with the opening of the large-scale shopping mall in 2024, The Millennity is expected to generate long-term, sustainable, and stable income for the Group. Acknowledgement Over the past year, the Hong Kong economy has gradually recovered, and the Group’s business has continued to rebound. This can be attributed to the collective efforts of the entire company, as we closely monitor market trends and respond to evolving needs. We remain steadfast in delivering safe and high-quality transportation services for both locals and visitors. I would like to express my heartfelt gratitude to the Board of Directors, every staff member of the Group, bus suppliers, and all our customers for their continued support. Norman LEUNG Nai Pang Chairman 21 March 2024