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Octopus Holdings Limited
Octopus Holdings Limited () is a holding company based in Hong Kong jointly owned by five major transport companies in the city. Its subsidiaries, which are all wholly owned, operate the various functions of the Octopus card in both its commercial and non-commercial usage. In 2006, the company gained international recognition by winning the Chairman's Award of the World Information Technology and Services Alliance's 2006 Global IT Excellence Award for the Octopus card system. In January 2021, Bravo Transport, parent company of operators Citybus and New World First Bus, sold most of its stake in Octopus Holdings Limited to MTR Corporation, and the small remainder to another company. Company restructure Prompted by the business expansion of the Octopus card, Octopus Holdings Limited was formed in 2005 after a company restructure of Octopus card operator Octopus Cards Limited. The Octopus card is used by card holders as an electronic payment system, and as such, the Octopus card ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta in South China. With 7.5 million residents of various nationalities in a territory, Hong Kong is one of the most densely populated places in the world. Hong Kong is also a major global financial centre and one of the most developed cities in the world. Hong Kong was established as a colony of the British Empire after the Qing Empire ceded Hong Kong Island from Xin'an County at the end of the First Opium War in 1841 then again in 1842.. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898... British Hong Kong was occupied by Imperial Japan from 1941 to 1945 during World War II; British administration resume ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Information Technology And Services Alliance
The World Innovation, Technology and Services Alliance (WITSA) is a consortium of associations from the information and communications technology (ICT) industry around the world. The group claims that it represents over 90% of the world ICT market through its global membership, and has a goal of advancing the growth and development of the ICT industry. WITSA was founded in 1978 as the World Computing Services Industry Association, and participates in advocacy in international public policy that affects the "global information infrastructure". It voices the concerns of the international IT industry in organizations such as the World Trade Organization, the Organisation for Economic Co-operation and Development, and the G7. WITSA represents IT industry associations in over 80 countries or economies. WITSA's motto is "Fulfilling the Promise of the Digital Age". WITSA World Innovation, Technology and Services Alliance elected the 2020-2022 chairman and board of directors on Nove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bravo Transport
Bravo Transport Services Limited (), simply Bravo Transport is a Hong Kong public transport company, which owns two of the city's bus operators Citybus (Hong Kong), Citybus and New World First Bus. Another subsidiary, Bravo Media, is the agency for the company's exterior and interior bus advertising concessions. The company is majority owned by private equity firm Templewater (through its subsidiary Templewater Bravo), with remaining shareholding held by Hong Kong-listed company :zh:漢思能源, Hans Energy and British bus company Ascendal Group. The CEO of Bravo Transport is Adam Leishman, the founder of Ascendal Group. Its slogan is "Connecting people and our city" (彼此連城一線). History Bravo Transport was set up as a consortium between Templewater (90.8%), :zh:漢思能源, Hans Energy (8.6%) and Ascendal Group (0.6%). Templewater is a private equity fund founded by Investec, Investec Bank and Cliff Zhang. Hans Energy is an energy company listed on the Hong Kong Stoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citybus (Hong Kong)
Citybus Limited () is a bus A bus (contracted from omnibus, with variants multibus, motorbus, autobus, etc.) is a road vehicle that carries significantly more passengers than an average car or van. It is most commonly used in public transport, but is also in use for cha ... company which provides both franchised and non-franchised service in Hong Kong. The franchised route network serves Hong Kong Island, cross-Victoria Harbour, harbour routes (between Hong Kong Island and Kowloon/New Territories), North Lantau (Tung Chung and Hong Kong Disneyland), Hong Kong International Airport, Kowloon, New Territories, Shenzhen Bay Port and Hong Kong–Zhuhai–Macau Bridge Hong Kong Port. The non-franchised routes serve mainly City One Sha Tin. It also provides bus rental services and staff bus services for some large companies such as TVB and China Light and Power. From 1984 to 2001 the company offered a cross-border service between Hong Kong and Mainland China using mainly Leyla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New World First Bus
New World First Bus Services Limited (NWFB) is the third-largest bus operator in Hong Kong. Established by NWS Holdings and FirstGroup in September 1998, it took over 88 China Motor Bus services in Hong Kong Island. Since 2020 it has been a subsidiary of Bravo Transport which also owns Citybus. The NWFB brand will be retired on 30 June 2023 with operations merged into Citybus. History Before NWFB was established, franchised bus service in Hong Kong Island was provided by China Motor Bus (CMB) (franchisee since 1933) and Citybus (franchisee since 1991). In the early 1990s, the service levels of CMB were in decline. Therefore, the Government of Hong Kong started to introduce new competitors by transferring the franchise of CMB routes to other companies. As a result, Citybus became the second franchisee of the bus service on Hong Kong Island. Over 40 routes were transferred between 1991 and 1995. In spite of the loss of many profitable routes, the service of CMB did not show ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MTR Corporation
MTR Corporation Limited is a majority government-owned public transport operator and property developer in Hong Kong which operates the Mass Transit Railway, the most popular public transport network in Hong Kong. It is listed on the Hong Kong Exchange and is a component of the Hang Seng Index. The MTR additionally invests in railways across different parts of the world, including franchised contracts to operate rapid transit systems in London, Sweden (Stockholm Metro and the MTRX Stockholm–Gothenburg rail link), Beijing, Hangzhou, Macau, Shenzhen, Sydney, and a suburban rail system in Melbourne. History The Mass Transit Railway Corporation () was established on 22 September 1972 as a government-owned statutory corporation to build and operate a mass transit railway system to meet Hong Kong's public transport needs. On 30 June 2000, the MTRC was succeeded by the MTR Corporation Limited (MTRCL, ). As with the MTRC, the MTRCL's principal business is to operate the mass tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Octopus Cards Limited
Octopus Cards Limited () is the operator of the Octopus rechargeable contactless smart card used in an electronic payment system in Hong Kong. Octopus Cards Limited is a wholly owned subsidiary of Octopus Holdings Limited Octopus Holdings Limited () is a holding company based in Hong Kong jointly owned by five major transport companies in the city. Its subsidiaries, which are all wholly owned, operate the various functions of the Octopus card in both its commercia .... Established in 1994 under the name of "Creative Star" by the major transportation companies in Hong Kong, Octopus Cards Limited is the operator of the Octopus System and the issuer of Octopus. The Octopus card was introduced in 1997 with the aim of providing a simple way to pay fares on public transport in Hong Kong. Octopus then extended its reach into simple micropayments for purchases in retail outlets and a simple way for cardholders to gain access to buildings and schools and to identify themselves. In J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Payment
An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Credit cards remain the most common forms of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type.Turban, E. King, D. McKay, J. Marshall, P. Lee, J & Vielhand, D. (2008). Electronic Commerce 2008: A Managerial Perspective. London: Pearson Education Ltd. p.550 It is difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use. Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa and Mastercard) in accordance with a bank and financial regulation in the countries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong's central bank, central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary (Hong Kong), Financial Secretary. Responsibilities The exchange fund was established and managed originally by the Currency Ordinance in 1935, now named the Exchange Fund Ordinance. Under the Ordinance, the HKMA's primary objective is to ensure the stability of the Hong Kong currency, and the banking system. It is also responsible for promoting the efficiency, integrity and development of the financial system.Noel FungGovernment power over Exchange Fund's stability role under review, The Standard (Hong Kong), The Standard, 18 November 1997 The HKMA issues Banknotes of the Hong Kong dollar, banknotes only in the denomination of ten Hong Kong dollars. The role of issuing other bankn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kowloon-Canton Railway Corporation
The Kowloon-Canton Railway Corporation (KCRC; ) is a Hong Kong wholly government-owned railway and land asset manager. It was established in 1982 under the Kowloon-Canton Railway Corporation Ordinance for the purposes of operating the Kowloon–Canton Railway (KCR), and to construct and operate other new railways. On 2 December 2007, the MTR Corporation Limited (MTRCL), another railway operator in Hong Kong, took over the operations of the KCR network under a 50-year service concession agreement, which can be extended. Under the service concession, KCRC retains ownership of the KCR network with the MTRCL making annual payments to KCRC for the right to operate the network. The KCRC's activities are governed by the KCRC Ordinance as amended in 2007 by the Rail Merger Ordinance to enable the service concession agreement to be entered into with the MTR Corporation Limited. The XRL Hong Kong Section and the Sha Tin–Central Link have since been injected by the Hong Kong Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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