Towngas to spin-off business 'when time is ripe': CEO Peter Wong

Peter Wong says the era of double-digit growth in Hong Kong's energy sector is over. Photo: Thomas Yau

Wong's comments follow an announcement last month by Li Ka-shing-controlled utility Power Asset Holdings that will spin-off its local electricity distributor, Hong Kong Electric. Li is reportedly seeking to raise as much as US$5 billion. Wong said Towngas was in no hurry to spin off its division.

Monday, 21 October, 2013, 5:06am

Towngas profit declines 12pc in absence of one time gain

Alfred Chan Wing-kin, Towngas managing director. Photo: May Tse

Hong Kong and China Gas (Towngas), the sole piped-gas distributor in Hong Kong, posted a 12 per cent decline in interim profit due to an absence of a one-time gain in the year-earlier period.

21 Aug 2013 - 11:21pm

Towngas readies HK$10b for mainland China projects

Managing director Alfred Chan says the mainland's urbanisation policies will provide opportunities for Towngas. Photo: May Tse

Hong Kong's only piped-gas supplier would put the money in city-gas distribution, water supply and treatment projects and new energy businesses, managing director Alfred Chan Wing-kin said after the company's annual shareholders' meeting.

6 Jun 2013 - 4:15am

Environment minister defends Towngas' 4.6pc rise in gas fees

Wong Kam-sing. Photo: Sam Tsang

Environment minister Wong Kam-sing has defended as "reasonable" a planned increase in gas charges by the city's sole piped-gas distributor. Hong Kong and China Gas Co, or Towngas, a listed firm controlled by property giant Henderson, said it would raise its standard gas charge by 4.6 per cent, or 1 HK cent, from April. The per unit gas charge, excluding fuel costs, will be 22.85 cents.

26 Feb 2013 - 7:22am

Towngas plans long-term IPO for 'green' subsidiary

A gas production plant of Towngas in Tai Po

Hong Kong and China Gas, better known as Towngas, will consider spinning off its non-city gas businesses in a separately listed unit in the medium term to better reflect their value.

8 Oct 2012 - 2:55am

Towngas celebrates its 150th anniversary

Managing director Alfred Chan says Towngas is looking to the mainland to be its largest contributor to growth. Photo: Ricky Chung

Hong Kong and China Gas (Towngas), Hong Kong's oldest public utility and only piped-gas distributor, is celebrating its 150th anniversary this year.

8 Oct 2012 - 2:49am

Towngas to freeze tariff; prices may dip

Towngas will freeze its basic gas tariff this year - and prices could even dip, depending on the state of the international oil market, the company announced yesterday.

6 Jun 2012 - 12:00am

Cover story

Japan's beautiful shrines and picturesque scenery have been impressing tourists for years, but many keen-eyed visitors have also admired the delicate designs of the country's drain covers, which differ from place to place and capture the unique character of each area.

26 Feb 2012 - 12:00am

Landfills eyed after success of biogas plan

Methane from the Tseung Kwan O landfill could in future be converted for household and commercial use, environment officials said yesterday.

They said the Environmental Protection Department, Towngas and the landfill operator were studying the feasibility of such a project, but no timetable had been set.

26 Jan 2008 - 12:00am

Generating clean profits

Award-winning companies say that investing in environmental protection measures benefit, rather than compromise, business interests - and Towngas is no exception.

This is the second time that Hong Kong and China Gas has won the Environmental Performance category grand award for implementing a number of anti-pollution measures.

24 Jan 2008 - 12:00am

Henderson Land to take over 39pc Towngas stake

Henderson Land Development is in the process of buying a 39 per cent stake in Hong Kong and China Gas (Towngas), valued at more than HK$42 billion, from subsidiary Henderson Investment.

The city's fourth-largest developer by market value will settle the deal as part of the group's streamlining exercise by issuing notes that can be converted into Henderson Land shares.

3 Oct 2007 - 12:00am

Towngas to gain HK$2b in swap deal

Hong Kong and China Gas (Towngas) will gain a windfall of up to HK$2 billion next year from its deal to swap 10 mainland piped gas projects for a controlling stake in smaller mainland rival Panva Gas Holdings, according to analysts.

This would account for as much as 40 per cent of Thomson First Call's consensus 2007 net profit forecast of HK$4.88 billion for Towngas.

6 Dec 2006 - 12:00am

Towngas digs in heels on dividend demands

Chief says full war chest needed as firm continues charge into mainland projects

Hong Kong and China Gas (Towngas) chairman Lee Shau-kee faced angry minority shareholders yesterday after he defended the firm's decision to keep last year's dividend flat despite a record profit.

20 May 2006 - 12:00am

Gas pipe inspections reveal 51 leaks

Updated at 6.14pm: A recent inspection of gas pipelines across Hong Kong has found 51 leaks in pipes due to corrosion, the Legislative Council heard on Wednesday.

The inspection was conducted between April 13 and May 1 by Hong Kong and China Gas Company (HKCG), or Towngas, the city?s dominant gas supplier.

17 May 2006 - 12:00am

Towngas may face bigger insurance bill

Towngas, Hong Kong's dominant gas supplier, faces the threat of a higher risk premium in renewing its insurance cover.

Hong Kong and China Gas experienced a turbulent time last month when an inspection of the 450km pipeline network revealed 51 leaks at three locations.

8 May 2006 - 12:00am