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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  The Hong Kong and China Gas Company Ltd.    0003   HK0003000038

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Hong Kong and China Gas : Towngas honoured with Business for Social Good Award

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11/10/2017 | 02:57pm CET

The Hong Kong and China Gas Company Limited (Towngas) participated in the Business for Social Good Outstanding Award and was honoured with the Business for Social Good Award, the first alike award in Hong Kong, launched by Our Hong Kong Foundation.

The aim of this Award is to identify local examples of creating social and environmental benefits through profit-making businesses.

As early as 1999, Towngas has taken the lead in utilising landfill gas as fuel for town gas production at Shuen Wan Landfill. In 2006, Towngas introduced the use of natural gas together with naphtha, as raw materials for gas production to help further reduce greenhouse gas emissions. Towngas has studied different environmental projects periodically in order to enhance competitive edge, profitability and promote environmental protection. Towngas' engineering team actively explored the feasibility of using landfill gas from North East New Territories Landfill as the energy source for generator. After our continuous attempts and enhancements, the Combined Heat and Power (CHP) Generating System was successfully established last year.

Towngas extended the pipeline which originally transfers landfill gas to Tai Po Production Plant. In addition, a 650 meters long sub-pipeline was constructed to supply landfill gas to Alice Ho Miu Ling Nethersole Hospital (Nethersole Hospital) as energy for generator to jointly achieve the environmental protection concept of 'turning waste into energy'. With the CHP Generating System, the flue gas and residual heat from cooling water produced by the landfill gas generator installed in Nethersole Hospital will be recovered to produce steam and hot water for disinfection, laundry and other purposes in the hospital. It is estimated that Nethersole Hospital will save about HK$ 2.7 million in energy costs each year.

Towngas Managing Director Alfred Chan said, 'After using the CHP Generating System, both the consumption of town gas and electricity can drop a maximum of around 25%. Annual carbon dioxide emissions can also reduce around 2,000 tonnes, equivalent to 86,620 trees' carbon dioxide absorption per year, thus improving air quality and creating a green environment. By implementing this project, Towngas can increase its gas sales and profit, landfill gas can be properly treated and Nethersole Hospital can also save its energy cost. It is definitely a win-win-win Business for Social Good project.

Towngas has already extended the landfill utilisation project to the South East New Territories Landfill in Tseung Kwan O. The Plant will begin its operation by the end of this month, creating a long term sustainable development condition for this project. Towngas will keep on exploring new Business for Social Good models, driving profits for the Company while simultaneously advancing the social values in the communities in which it operates.

Contact:

Tel: 2963 3493

Fax: 2516 7368

Email: [email protected]

(C) 2017 Electronic News Publishing, source ENP Newswire

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Financials ( HKD)
Sales 2017 30 772 M
EBIT 2017 7 829 M
Net income 2017 7 564 M
Debt 2017 23 233 M
Yield 2017 2,30%
P/E ratio 2017 26,03
P/E ratio 2018 24,69
EV / Sales 2017 7,45x
EV / Sales 2018 6,95x
Capitalization 206 B
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Technical analysis trends THE HONG KONG AND CHINA GA
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Mean consensus UNDERPERFORM
Number of Analysts 13
Average target price 12,7  HKD
Spread / Average Target -14%
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Managers
NameTitle
Wing Kin Chan Managing Director & Executive Director
Shau Kee Lee Chairman
Hon Ming Ho Chief Financial Officer & Secretary
Kwok Po Li Independent Non-Executive Director
Ka Shing Lee Non-Executive Director
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