The Cross-Harbour (Holdings) Limited (CHHL) (), formerly the Cross-Harbour Tunnel Company, is a

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 Delt ...

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

holding company with emphasis on

transport Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, an ...

infrastructures.

History

The Cross-Harbour Tunnel Company Limited was incorporated with a nominal capital of HK$10 million in 1965. The company was backed by Wheelock Marden. CHHL owned the franchise to build and operate the

Cross-Harbour Tunnel The Cross-Harbour Tunnel (abbreviated ''CHT'' or ''XHT'') is the first tunnel in Hong Kong built underwater. It consists of two steel road tunnels each with two lanes constructed using the single shell immersed tube method. It is the earl ...

up to 1999. Thereafter, CHHL, through an associated company, operated the Cross-Harbour Tunnel under a renewable management, operation and maintenance contract with the

Government of Hong Kong The Government of the Hong Kong Special Administrative Region, commonly known as the Hong Kong Government or HKSAR Government, refers to the executive authorities of Hong Kong SAR. It was formed on 1 July 1997 in accordance with the Sino-Br ...

until 31 October 2010. From 1 November 2010, the tunnel management passed to Serco Group. The Cross-Harbour Tunnel Company also managed the

Aberdeen Tunnel Aberdeen Tunnel, part of Route 1, is a two-tube tunnel linking Happy Valley and Wong Chuk Hang near Aberdeen on the Hong Kong Island, Hong Kong. It shortens the travel time between Wong Chuk Hang and Causeway Bay of the Hong Kong Island. I ...

in the 1990s. On 17 May 2000, the company's name was changed from Cross-Harbour Tunnel Company to Cross-Harbour (Holdings). In 2001,

Wharf Holdings The Wharf (Holdings) Limited (), or Wharf (九倉) in short, is a company founded in 1886 in Hong Kong. As its name suggests, the company's original business was in running wharfage and dockside warehousing, and it was originally known as Th ...

sold its 26.7 per cent stake in the company to Prestige Properties Holdings Ltd. for HK$614.1 million.

Investments

CHHL together with its wholly owned subsidiary hold a 50 per cent stake in

Western Harbour Tunnel Company The Western Harbour Tunnel Company Limited (WHTCL) 香港西區隧道有限公司 is a jointly owned entity engaged principally in the construction, maintenance and operation of the Western Harbour Crossing (WHC) in Hong Kong. Founded in 1992, W ...

Limited (WHTCL). WHTCL owns the franchise to build and operate the

Western Harbour Crossing The Western Harbour Crossing (WHC) is a dual 3-lane immersed tube tunnel in Hong Kong. It is the third road tunnel to cross Victoria Harbour, linking the newly reclaimed land in Yau Ma Tei on Kowloon West with Sai Ying Pun on Hong Kong Isla ...

from 1993 up to 2023. In 2008, CHHL acquired a 39.5% effective interest in Tate's Cairn Tunnel Company Limited (TCTC). TCTC owned the franchise to build and operate the

Tate's Cairn Tunnel Tate's Cairn Tunnel is a four-lane road tunnel in Hong Kong. Constructed as part of Route 2, it links Diamond Hill, New Kowloon with Siu Lek Yuen, Sha Tin, New Territories East. It opened on 26 June 1991. Its toll plaza is situated on the S ...

from 1988 to 2018. CHHL has a 70% stake in The Hong Kong School of Motoring (HKSM). HKSM operates three designated

driving school ''Driving School'' is a docusoap that was broadcast on BBC1 in the summer of 1997, which followed a group of learner drivers around Bristol and South Wales. The series was made on a reduced budget but shown in primetime, it created one of the ...

s in Hong Kong. CHHL also has a 70% stake in a company which owns half of Autotoll Limited. Autotoll provides electronic toll clearing facilities in Hong Kong covering eleven different

toll road A toll road, also known as a turnpike or tollway, is a public or private road (almost always a controlled-access highway in the present day) for which a fee (or ''toll'') is assessed for passage. It is a form of road pricing typically implemented ...

s and tunnels. On 5 June 2019, an Australian based fund manager, Lanyon Asset Management Pty Limited, made a cash offer to acquire the 50% interest in the WHTCL from CHHL. On 11 June 2019, Lanyon’s offer was rejected by CHHL. Lanyon cited this was in the best interest of shareholders. Subsequently, on 13 August 2019, Lanyon outlined a strategy for CHHL to liquidate their securities portfolio, sell the company yacht and return the surplus cash to CHHL shareholders as a special dividend. Lanyon suggested their initiatives would enable the payment of a special dividend of HK$16.80 per share (or 160% of the current share price).

References

External links

* {{DEFAULTSORT:Cross-Harbour Holding companies of Hong Kong Transport companies of Hong Kong Holding companies established in 1965 Financial services companies established in 1965 1965 establishments in Hong Kong Companies listed on the Hong Kong Stock Exchange