Shun Tak Holdings Limited engages in the property development, investment and management, transportation, and hospitality businesses.
Segments
The company’s segments include Transportation, Property, Hospitality, and Investment sectors.
Transportation
The company offers its transportation services between Hong Kong and Macau with the incorporation of a shipping company. The group merged its shipping operation with that of CTS-Parkview Holdings Limited to create a combined entity carrying the...
Shun Tak Holdings Limited engages in the property development, investment and management, transportation, and hospitality businesses.
Segments
The company’s segments include Transportation, Property, Hospitality, and Investment sectors.
Transportation
The company offers its transportation services between Hong Kong and Macau with the incorporation of a shipping company. The group merged its shipping operation with that of CTS-Parkview Holdings Limited to create a combined entity carrying the brand name ‘TurboJET’, which is operated and managed by Shun Tak — China Travel Shipping Investments Limited (STCTS).
TurboJET offers passengers speedy and comfortable sea travel services across destinations within the Pearl River Delta (PRD), linking cities, such as Hong Kong, Macau and Shenzhen. TurboJET boasts its fleets of passenger ferries in Asia and is the operator offering 24- hour high-speed ferry services between Hong Kong and Macau.
TurboJET offers an inter-regional network consisting of a ferry service to link up major international airports in the PRD under the brand name TurboJET Sea Express. The service connects the Hong Kong International Airport with Macau and Shenzhen for air passengers, further strengthening the company’s ferry business and market leadership.
On land, the company’s joint venture company, Shun Tak & CITS Coach (Macao) Limited, operates coach services in Macau and provides cross-boundary coach services directly linking cities in Guangdong Province with Macau. In 2006, the company entered into an agreement with Air Macau Company Limited and China National Aviation Company Limited to form a new Macau-based, airline, called Macau Asia Express Limited, which would serve destinations in mainland China and other parts of Asia.
In July 2007, TurboJET co-operated with Shenzhen Xunlong Shipping Company to launch a new Macau-Shekou ferry service route to improve connectivity between Macau and the PRD region.
The company, through the Hong Kong International Airport Ferry Terminal Services Ltd., its 40%-owned joint venture, entered into a three-year agreement with The Airport Authority Hong Kong to provide management services at SkyPier, the Hong Kong International Airport’s new, permanent cross-boundary ferry terminal scheduled for completion in 2009.
On land, Shun Tak & CITS Coach (Macao) Limited, which operates coach service within Macau and cross-boundary to various major cities in the Guangdong Province, has approximately tripled its operating fleet to approximately 100 vehicles.
Extending its transportation network to air travel, the company has a joint venture with China National Aviation Company Limited to hold a 49% interest in a new Macau based airline, Macau Asia Express Limited (MAX). MAX is a 51% subsidiary of Air Macau Company Limited.
Property
The company’s property markets include Macau and Hong Kong. It owns land banks in Macau among Hong Kong-listed companies. One Central, which is the group’s joint venture with Hongkong Land Holdings Limited, is located at a prime site on the waterfront of Macau Peninsula. Nova City in Taipa is the luxurious residential developments in Macau. The company owns 100% interest in the Nova City project. Harbour Mile, a luxurious mixed-use complex at a prime site in Nam Van Macau, is under planning. The company also plays a major role in the Hong Kong property market with a portfolio consisting of commercial, residential and retail property ventures. Its latest residential project is Radcliffe in Pokfulam, consisting of duplex apartments. Chatham Gardens, under the planning stage, is another residential property development project of the company. The company also provides property residential, commercial and industrial properties in both Hong Kong and Macau.
Nova City is major luxury property developments in Macau. The development’s first three phases feature landscaped gardens and a deluxe clubhouse spanning 210,000 square feet. Nova City 2, consists of four residential towers, was completed in 2007 and more than 98% of the residential units were sold. As at December 31, 2007, approximately 87% of residential units were sold.
In December 2007, the company completed sale and purchase agreements with Hopewell Holdings Ltd. and Sociedade de Turismo e Diversões de Macau, S.A. (STDM) to acquire 50% and 25%, respectively, of the interests in Nova Taipa –Urbanizações, Limitada. The company owns 100% interest in the whole project.
One Central is the company’s joint-venture development with Hongkong Land Holdings Limited on a prime Macau NAPE waterfront site. One Central, which offers unobstructed scenic views of Nam Van Lake, would consist of approximately 1.6 million square feet of luxury residential and serviced apartments, an upscale retail arcade of approximately 400,000 square feet and a 208-room luxury hotel that would be managed by Mandarin Oriental Hotel Group. The company holds a 51% interest in the development.
Harbour Mile, the company’s primary development on the Nam Van site centrally situated on the waterfront adjacent to Macau Tower, is under planning for a mixed-use complex.
The company is in discussion with the Macau SAR Government on its plan to develop a site in Cotai with STDM in place of the originally-announced site in Taipa. The Cotai site would be zoned for hospitality and entertainment uses. The company holds an 80% interest in the project and STDM holds the remaining 20%.
Taipa Project: The company owns a 79% interest in a columbarium development project in Taipa, Macau.
In Hong Kong and mainland China Radcliffe: Radcliffe is a luxury residential development located at 120 Pokfulam Road, Hong Kong. It features ten duplex apartments of approximately 3,000 square feet each.
Chatham Gardens: Design of the residential towers and commercial podium is in progress.
The Westwood: The Westwood, a large-scale modern commercial podium with approximately 220,000 square feet at The Belcher’s, is the shopping complex in Western Mid-Levels.
Liberte Place: Liberte Place is a commercial complex in West Kowloon.
Guangzhou Shun Tak Business Centre: In Guangzhou, the Shun Tak Business Centre consists of a 32-storey office tower and a six-storey shopping arcade.
Property Services: Shun Tak Property Management Limited (STPML), the company’s property management division, provides quality services to a range of residential, commercial and industrial properties. The property portfolio under the division’s management extends to approximately 12 million square feet in Hong Kong and Macau.
ISS Macau Services Limited, a synergistic joint venture between STPML and ISS Hong Kong Services Limited, provides a range of cleaning services in both Hong Kong and Macau. The company offers lifestyle concept services there under the brand name Living Matters that promote quality living.
Hospitality
The company offers top-tier hotel services to Macau through its investments in Mandarin Oriental Macau and Westin Resort Macau. A 6-star hotel, which is to be operated by the Mandarin Oriental Hotel Group, would be built in One Central. A new luxury hotel would also be built in Harbour Mile to complement the casino and the nearby Macau Tower Convention & Entertainment Center (Macau Tower).
The company’s 70%-owned joint-venture Hong Kong SkyCity Marriott Hotel project is located in the eastern section of SkyCity, the major business and leisure development of the Hong Kong International Airport on Lantau Island. The five-star waterfront hotel, projected to have 1,000 rooms, would be developed in two phases with 658 rooms in the first phase. The hotel would be managed by Marriott Hotels International B.V.
Investment
The company holds significant diversified investments in Macau and Hong Kong, including an approximately 11 .5% interest in Sociedade de Turismo e Diversões de Macau, S.A. (STDM). STDM has been driving Macau’s development for decades and owns an approximately 80% equity interest in Sociedade de Jogos de Macau, S.A., one of the few gaming concessionaires licensed by the Macau SAR Government to operate casinos in Macau.
History
Shun Tak Holdings Limited was founded in 1961.
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