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Milestone
Year   Achievements
1967
Ming Hing was formed as a partnership under the name of Ming Hing Engineering Company (the “Partnership”).
1971
The Partnership was appointed as sub-contractor to manage maintenance of waterworks for the public sector.
1986
Admission granted for undertaking waterworks engineering projects for the public sector up to a maximum contract sum of HK$3 million.
1988 Awarded the first public contract by the Water Supplies Department (“WSD”) in connection with the development of water supply system in Tsuen Wan, New Territories.
1991-2003
Completed a variety of waterworks engineering projects for the public sector particularly Contract 20/WSD/98 amounted to HK$32 million, Contract 4/WSD/97 amounted to HK$40 million, Contract 16/WSD/97 amounted to HK$18 million, Contract 2/WSD/99 amounted to HK$29 million, Contract 6/WSD/00 amounted to HK$39 million.
Uplifted of status as approved contractors for different public works categories included Waterworks Category (Group C) (confirmed status) and Roads and Drainage Category (Group B) (probationary status):
 
Eligible to tender for Government contracts of value over HK$50 million in “Waterworks” category since 1997;
Eligible to tender for Government contracts of value up to HK$50 million in “Roads and Drainage” category since 1998.
Awarded Award Certificates in recognition of the performance of the Company’s construction site under the Considerate Contractors Site Award Scheme by the Works Bureau of the Hong Kong Government (the “Government”) in 1999, 2001 and 2002 respectively.
1997-2003 Awarded Certification for compliance with the requirements of ISO9002: 1994 quality assurance system in 1997 and ISO 9001: 2000 quality management system standard in 2003.
2002-2006
Granted various Government contracts as main contractors in the water mains rehabilitation program and maintenance of waterworks installations particularly Contract 1/WSD/02(L) amounted to HK$88 million, Contract 26/WSD/02 amounted to HK$113 million, Contract 2/WSD/04 amounted to HK$57 million, Contract 1/WSD/05(K) amounted to HK$390 million, Contract 1/WSD/05(L) amounted to HK$72 million.
2004 Awarded Meritorious Award in the Safety Team Category by Labour Department of the HKSAR.
March 2006 Listed on the Main Board of the Stock Exchange of Hong Kong Limited.
July 2006
The Group recorded HK$263.8 million of revenue and HK$38.6 million profit of the Year 2006/2005 – Annual Result, the growth of revenue is 27.3% compared with 2005/2004.
September 2006
Mr SUN Bo Quan was appointed as Independent Non-executive Director of the Company. He was formerly the Vice Bureau Head and Deputy Chief Economist of Tianjin Public Utility Bureau. The Company is benefit from his in-depth experience and ample network in the public utility sector in PRC.
October 2006 Change of Registered Address in Cayman Island.
December 2006
The unaudited condensed consolidated interim results 2006 of the Company and its subsidiaries for the six months ended 30 September 2006, it is recorded that HK$187 million of revenue is achieved. Profit for the period amounted to HK$6.69 million.
May 2007
Sold an aggregate of 3,056,000 existing Shares in the secondary market at the price range of HK$2.55 to HK$3.03 per Share.
Placing of 10,000,000 existing Shares to Altantis, an Independent Third party, at a placing price of HK$2.10 per Share to satisfy the Public Float requirement.
The Primary Register for the Voluntary Subcontractor Registration Scheme has been approved by Provisional Construction Industry Co-ordination Broad. The approved trades are General Civil Works with specialties of Earthwork, Roadworks, Road Drainage and Sewer, Geotechnical Works and Waterworks.
June 2007
Placing 64,000,000 shares to China Water Affairs Group Limited (stock code: 855).
Board lot size for trading is changed from 4,000 Existing Shares to 2,000 Subdivided Shares.
Every one existing share is subdivided into two subdivided shares.
Up to 128,000,000 Placing Shares to over 10 independent investors/funds through DBS Asia Capital Limited at HK$1.53 Per Placing Share.
Top-up placement – New 128,000,000 shares issue to Robinhood.
Signed the Memorandum of Understanding with an independent third party to form the Joint Venture Company. The Joint Venture Company will be principally engaged in water supply business in Guangxi Province, the PRC.
July 2007
The Group recorded HK$519.9 million of revenue and HK$34.3 million profit of the Year 2007/2006, the growth of revenue is 97% compared with 2006/2005.
The Board proposed to pay a final dividend of HK1.12 cents per share for the year ended 31 March 2007.
Granted Government Contract 21/WSD/06 amounted to HK$228 million as main contractors in the water mains rehabilitation program and maintenance of waterworks installations.
August 2007
Successfully change of Company Name from “Ming Hing Holdings Limited 明興控股有限公司” to Ming Hing Waterworks Holdings Limited 明興水務控股有限公司”.
Share buyback 680,000 shares at the price range of HK$1.05 to HK$1.00 per share.
The local government authority of Ningxiang County, Changsha City, Human Province, the PRC, has confirmed the winning of the Company in an open tender to acquire the Assets of Ningxiang Water at a consideration of RMB 90.08 million (equivalent to approximately HK$92.78 million). The Agreement made between the Company and Ningxiang Government was signed on 31 August 2007. Ningxiang water is an exclusive water supply service provider in certain area of Ningxiang County. The assets of Ningxiang Water primarily include the facilities of three water plants and the associated distribution network.
October 2007
Signed the Memorandum of Understanding with an independent third party to form the Joint Venture Company to form the Joint Venture Company for engaging principally in water supply business in Leizhou City, Guangdong Province, the PRC.
November 2007
Ms CHUNG Lai Kwok, Elaine was appointed as Independent Non-executive Director of the Company for her fruitful experience and extensive connection in the public and commercial sectors.
December 2007
The unaudited condensed consolidated interim results 2007 of the Company and its subsidiaries for the six months ended 30 September 2007, it is recorded that HK$310 million of revenue is achieved, representing an increase 65.9% compared with the same period of last year. Gross profit increased by HK$12.5 million to HK$35.8 million. Profit for the period amounted to HK$10.96 million.
The Group has been confirmed in the Specialist List under the “Landslip Preventive /Remedial Works to Slopes / Retaining Walls’ category. The Geotechnical Engineering Office of the Civil Engineering and Development Department, HKSAR will launch a long-term Landslip Prevention and Mitigation Programme in 2010 to sustain slope safety. It is estimated that the annual expenditure of the long-term programme will be about HK$600 million.
January 2008
The Trade and Industry Department of HKSAR certifies Ming Hing Waterworks Engineering Company Limited met the standard of “Hong Kong Service Supplier” as stipulated in CEPA and its Supplement(s) and issued the Certificate of Hong Kong Service Supplier to the Company.
Occupational Health Award in Hearing Conservation Category of Ming Hing's Term Contract for Waterworks District K – Kowloon was presented by Occupational Safety & Health Council and Labour Department of HKSAR.
Best Landslip Preventive Measures Contractor of 2007 was presented by Geotechnical Engineering Office, Civil Engineering & Development Department.
March 2008
The Joint Venture will be owned as to 40% and 60% by MingHing Waterworks and Star Field (an indirect wholly-owned subsidiary of China Water) respectively and will be principally engaged in investment, construction, operation, management, contracting and consulting on waterworks in the PRC. It is formed to manage initially to their own water assets in Mainland including over 30 water treatment and sewage plants; coverage over 20 cities, over 9,000km of pipes; more than 10,000,000 populations is being served. It will also participate in the building of sewage plants, pipeline extension projects for both parties and to serve all stakeholders of the industry in the future etc.
Meritorious Prize in the Safety Team Category of Ming Hing's Replacement and Rehabilitation project of Water Mains, Stage 1 Phase 1, Mains along Kwun Tong Road & Lung Cheung Road was presented by Labour Department under the Construction Industry Safety Award Scheme 2007/2008.
Meritorious Prize in the Safety Team Category of Ming Hing's Replacement and Rehabilitation project of Water Mains, Stage 2, Mains along Tai Po & Fanling was presented by Labour Department under the Construction Industry Safety Award Scheme 2007/2008.
Meritorious Prize in the Civil Engineering sites Category of Ming Hing's Replacement and Rehabilitation project of Water Mains, Stage 2, Mains along Tai Po & Fanling was presented by Labour Department under the Construction Industry Safety Award Scheme 2007/2008.
May 2008
MH Qingyuan (a wholly foreign-owned enterprise established by the Company in PRC and an indirect wholly-owned subsidiary of the Company) at a price of RMB500,000 to purchase 83.33% of the equity interest in the JV. After completed the transaction, MH Qinguan has agreed to inject RMB13,000,000 as further registered capital to the JV. The registered capital of the JV will be increased from RMB600,000 to RMB13,600,000. This is to reinforce the Mainland business strategy. It is expected that the industrial development in the area will have a significant potential growth in the coming years. After capital injection, the capacity of supplying will be increased from 10,000 tonnes to 30,000 tonnes of water per day. In the meantime, the concession agreement will be prepared and signed in relation to the grant of an exclusive license to the JV for the provision of water supply service in Jiangkou Administration Area, Feilaixia Town, Qingxin County, the PRC for 30 years.
July 2008
The Group recorded HK$648.5 million of revenue and HK$24.9 million profit of the Year 2008/2007, the growth of revenue is 24.7% compared with 2007/2006.
The Board proposed to pay a final dividend of HK0.80 cents per share for the year ended 31 March 2008.
During the year under review, the Group has repurchased 2,780,000 Shares on the Stock Exchange. The repurchase Shares were subsequently cancelled. It is to benefit shareholders as a whole by enhancing the net asset value per Share and earnings per Share of the Group.