Annual Report 2024

17 2024 Annual Report Transport International Holdings Limited route franchises for the Anderson Road Quarry by the Hong Kong SAR Government, further expanding KMB’s service network. As residents gradually moved into Fu Tip Estate (Phase Two) and Yip Wong Estate in Tai Po and Tuen Mun, KMB introduced several new bus routes in these two districts and extended service areas and hours to provide more convenient and efficient bus services tomeet the daily travel needs of the residents. Putting People First and Caring for Staff 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 increased job flexibility by recruiting full-time bus captains and those working 5 days a week. Taking into account the operating conditions and salary trends, KMB and LWB have been upgrading their remuneration packages. All employees received a 3.52% 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, as part of the Company’s efforts to attract and retain talent. The Group believes that the health of its employees is its greatest asset. To enhance employee protection, the Group has arranged for medical institutions to offer free vaccination outreach services to staff members. The Group is committed to the well-being of its staff and is determined to provide them with a better working environment. For the first time, KMB introduced a dedicated route operated by female bus captains, demonstrating that women are equally capable of taking up the role of a bus captain. By enhancing the recognition of female bus captains, this initiative aims to attract more aspiring talent to join the bus captain profession. KMB set up the first “Female Staff Priority Rest Kiosk” in Hong Kong at the Tin Shui Wai Town Centre Bus Terminus, equipped with facilities tailor-made for women, to facilitate the work of female bus captains and field staff. This initiative has further promoted a female-friendly working environment, setting a pioneering example for the industry. Challenges and Opportunities In the face of uncertainties in the global and Hong Kong economies, coupled with the tense geopolitical situation, volatile international oil prices and continuous expansion of the local railway network, the bus operating environment is filled with challenges. With the Hong Kong SAR Government’s implementation of various development blueprints and measures to boost the economy and people’s livelihood, the demand for local travel is expected to rise steadily. Benefiting from the more frequent flow of people between Hong Kong and Mainland China, bus passenger volume and fare-box revenue will grow accordingly. The Northern Metropolis is one of the key development areas in Hong Kong. The pilot development of three local districts will integrate private residential, industrial and public facilities, with 60,000 residential units to be completed in the next five years. Upon completion, it is expected to add 500,000 housing units. The Group will endeavour to provide services in the new development area, offering residents convenient and comfortable bus trips while also providing momentum for economic development. Located in the prime area of Kwun Tong in East Kowloon, The Millennity 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. Covering 1.15 million square feet, 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. The Group believes that The Millennity will generate long-term, sustainable, and stable income. In addition to local bus services, with its professional experience in transportation, the Group signed a Letter of Intent for cooperation with the Integrated Transport Centre of Abu Dhabi, United Arab Emirates. Drawing on KMB’s extensive experience in operating local public transport, the Group aims to contribute to the transformation of the public transport system in Abu Dhabi, while promoting and participating in the development of green transportation in the region, including diverse travel options, smart travel and green transportation, in alignment with the national “Belt and Road” initiative. The Group will endeavour to drive long-term development, maintain a consistent focus on core business growth and maximise its development in a controlled environment, so as to bring value and sustainable returns to shareholders. Acknowledgement The past year has been a year of challenges and opportunities for the community as it seeks to define its direction for development in various areas. Thanks to the dedication and commitment of every employee to keeping abreast of the times, the Group was able to maintain its momentum in adapting to the changing environment and provide safe, high-quality transport services to passengers. 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 20 March 2025