HK Electric Investments is the first fixed single investment trust listed in Hong Kong with a focus on the power industry. Our principal operating subsidiary, The Hongkong Electric Company, Limited (HK Electric), commenced operations in 1890 and is one of the longest-established utility companies in the world.
Over our long history, we have consistently supported Hong Kong's economic journey by offering safe, reliable and affordable electricity while minimising the impact of our operations on the environment as we strive to deliver sustainable growth in long-term value to our investors.
HK Electric Investments believes that open and on-going communication with our stakeholders is central to our operation and development. We engage different stakeholders through a variety of channels and stakeholder suggestions and feedback are highly valued in our decision making process as we strive for continuous improvements.
Underpinned by its core value of "Pursuit of Excellence", HK Electric is committed to delivering excellent services and supply reliability to our customers. We have been providing a world-class supply reliability of over 99.999% since 1997 and all our service standards are achieved or even surpassed every year.
To satisfy the aspirations from the community, and in support of Government’s energy and environmental policy objectives, HK Electric has launched a suite of "Smart Power Services".
HK Electric is one of the longest-established power companies in the world. The Company has a world-class record of providing a highly reliable electricity supply to Hong Kong and Lamma islands at a reasonable and affordable price.
HK Electric Investments is committed to meeting the long-term energy needs and supporting the sustainable development of the community we serve. To do this, we focus not only on powering Hong Kong with a world-class electricity supply, but also on the way we deliver it and the impacts it has on the environment.
HK Electric aspires to be an employer of choice. We have policies and systems in place to attract talents and through continuous training and development, nurture them for a fulfilling career. We offer competitive remuneration, an ideal workplace and comprehensive wellness programmes for our employees while maintaining regular and open dialogues with them.
HONG KONG, 29 Jan 2014 – HK Electric Investments and HK Electric Investments Limited (Stock code: 02638), commenced trading on the Main Board of the Stock Exchange of Hong Kong ("HKEx") today.
Mr. Canning Fok, the Chairman and Executive Director of HK Electric Investments, said, "The successful listing of the share stapled units marks the beginning of a new chapter for HK Electric, the utility that has served Hong Kong for over 120 years. The enthusiastic response we got from institutional and retail investors is a strong vote of confidence in the sustainable growth of HK Electric's business."
At the listing ceremony today, Mr. Fok highlighted two achievements which HK Electric is very proud of. "We have been supplying electricity at a reliability rating of over 99.999% since 1997, and in recent years, recorded a power interruption of less than one minute per customer per year on average."
"At the same time, we have communicated to the government, and to the consumers, that our net tariffs will remain unchanged at 2013 levels until 2018. This is unprecedented in the power industry," he added.
Now publicly listed as a fixed single investment trust, HK Electric is committed to a transparent distribution policy with stable distributions for holders of its share stapled units and the potential for sustainable long-term growth of such distributions. Power Assets Holdings Limited has retained a 49.9% interest in HK Electric Investments.
Mr. Fok presented a donation of HK$1 million to the Community Chest of Hong Kong as a demonstration of HK Electric's ongoing commitment to corporate social responsibility.
About HK Electric Investments
HK Electric Investments is the first fixed single investment trust in Hong Kong with a focus on the power industry. It owns a vertically integrated power utility in Hong Kong responsible for the generation, transmission, distribution and supply of electricity to over 568,000 registered customers on Hong Kong Island and Lamma Island with an aggregate installed capacity of approximately 3,737 MW.
The objectives of HK Electric Investments are to focus principally on the payment of distributions to the holders of Share Stapled Units and to provide the holders with stable distributions with the potential for sustainable long-term growth of such distributions.
Chairman of HK Electric Investments, Mr. Canning Fok (seventh from right), Chief Executive Officer, Mr. Wan Chi-tin (sixth from left), and the officiating party raise glasses to toast the successful listing of the company.
Serving Hong Kong since 1890, Mr. Canning Fok says HK Electric is proud to have achieved a reliability rating of over 99.999% since 1997.
HK Electric Investments starts trading at Hong Kong Stock Exchange following the Gong hit by Mr. Fok (right) and Mr. Wan.
Mr. Fok (right) presents a picture showing HK Electric's history of over a hundred years as souvenir to Sir Chow Chung-kong, Chairman of Hong Kong Exchanges and Clearing Limited.
HK Electric Investments donates one million HK Dollars to the Community Chest for obtaining the stock code 02638. Mr. Fok presents a cheque to Mrs Margaret Leung, Executive Committee Chairman of the Community Chest.