REPORT OF THE DIRECTORS
The directors have pleasure in submitting their Annual Report together with the audited financial statements for the year
ended 31 December 2015.
PRINCIPAL PLACE OF BUSINESS
Hong Kong Ferry (Holdings) Company Limited (the "Company") is a company incorporated and domiciled in Hong Kong and has its registered office and principal place of business at 98 Tam Kon Shan Road, TYTL 102, Ngau Kok Wan, North Tsing Yi, New Territories, Hong Kong.
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding and the principal activities of its subsidiaries are property development, property investment, ferry, shipyard and related businesses, travel operation and securities investment.
The analysis of the principal activities of the Company and its subsidiaries (the "Group") during the financial year are set out in
note 3 to the financial statements.
BUSINESS REVIEW
A review of the business of the Group during the year is provided in Management Discussion and Analysis on page 12 and Chairman's Statement on pages 10 and 11. A discussion on the Group's future business development is provided in the Chairman's Statement on pages 10 and 11 of this Annual Report. Description of the principal risks and uncertainties that the Group may be facing can be found in the Chairman's Statement on pages 10 and 11 and the section of Risk Management and Internal Controls on page 34 of Corporate Governance Report of this Annual Report. Financial risk management of the Group can be found in note 24(a) to (d) to the financial statements on pages 119 to 122 of this Annual Report. An analysis of the Group's performance during the year using financial key performance indicators is provided in the Financial Highlights on page 9 and Ten Years' Financial Summary on pages 136 and 137 of this Annual Report respectively.
Discussions on the Group's environmental policies, relationships with its key stakeholders which have a significant impact on the Group are contained in Environmental, Social and Governance Report on pages 38 to 58 of this Annual Report. These discussion forms part of this Report of the Directors.
Discussion on Environmental Policies and Performance
We are fully aware of the environmental impacts arising from our operations and are committed to managing and mitigating our environmental footprint. An Environmental Policy has been established and implemented throughout our Principle Office and Shipyard Operation, stipulating the responsibility of environmental protection for all of our employees and contractors, while governing the environmental performance of our daily operations. An Energy and Carbon Management Programme was initiated to undertake an annual carbon audit within our Shipyard Operation and Dangerous Goods Vehicular Ferry Services Operation. Carbon audit reports are well circulated amongst management to review current emissions performance and identify further improvement strategies. Our Principle Office and subsidiaries invested in retrofits with the purpose of reducing energy consumption. Old engines and generators have also been replaced in our vehicular fleet and green coaches have been employed by our travel company to mitigate emissions.
Account of Key Relationships with Employees, Customers and Suppliers
Our Group adheres to the highest standards of business ethics, this underpins how we conduct business with our customers,
suppliers and contractors.
Employees
We value our employees who are the Group's most important assets. We reward our staff with competitive remuneration packages and benefits. We are committed to fostering a conducive, harmonious and discrimination-free working environment. We also invest in our employees by setting aside a separate training budget to subsidise their continued professional development.
Occupational health and safety is the top priority across our operations. Safety guidelines are established and reviewed on a regular basis, safeguarding our employees from any occupational hazards.
Hong Kong Ferry (Holdings) Company Limited Annual Report 2015
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