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 |
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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. |
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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. |
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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. |
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June 2007 |
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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. |
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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. |
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August 2007 |
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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. |
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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. |
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January 2008 |
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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. |
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Best Landslip Preventive Measures Contractor of 2007 was presented by Geotechnical Engineering Office, Civil Engineering & Development Department. |
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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. |
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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. |
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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. |
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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. |
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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 |
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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. |
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The Board proposed to pay a final dividend of HK0.80 cents per share for the year ended 31 March 2008. |
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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. |
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