Company Overview of Hongkong International Terminals Limited

International Transport Workers' Federation announced this is the current situation in the Port of Hong Kong, where subcontracted workers have now been on strike for 28 days. Despite the continuation of the strike, there have been several developments in this dispute. Global Stevedoring, a contractor of HIT, has announced it is closing its operations, blaming the UHKD strike action. A work-to-rule which was been being carried out by members of the HIT union has been halted after an agreement was made with HIT management to give overtime compensation of 1.4 times the hourly rate, a victory for the union. The ITF welcomed the agreement between HIT and the HIT union and now calls for the same standards with regards good faith and transparent negotiation to be applied to the subcontracted workers, who remain out on strike. Members of the Union of Hong Kong Dockers have been picketing at Kwai Chung terminal in a bid to make Hong Kong International Terminals (HIT) management return to negotiations. There is also a union presence outside the offices of Hutchison Whampoa, the parent company of Hutchison Port Holdings (HPH), of which HIT is a subsidiary. In a further attempt to prevent union members from exercising their rights to free expression and the right to strike, a notice has been issued on April 25, 2013 to evict the strikers and an application has been filed for an injunction banning demonstrators from this area.

The strike by dock workers at Hongkong International Terminals (HIT) has taken its toll on at least one contractor, which announced on April 18 its plan to close shop and lay off its staff. In an escalation of the situation, hundreds of dock workers at HIT surrounded Li Ka-Shing's Cheung Kong Centre headquarters in the business district on April 17 to protest against a wage increase that fell short of their demand. Three weeks of demonstrations and three negotiation meetings later, employers and workers have still failed to reach a deal. The latest offer from contractors for a 7% wage increase outraged workers who had demanded a 23% raise. Global Stevedoring Service, one of HIT's five external contractors, gave notice on April 18 that it would not renew its service contract when it expires at the end of June. It plans to wind up the company and lay off its workers, after earlier announcing that it 'honestly cannot offer' the pay stevedorers are demanding.

Hutchison Port Holdings Trust announced the appointment of Yim Lui Fai, Gerry as executive; Chief Executive Officer-Designate and Managing Director of Hongkong International Terminals. He worked from March 2010 to May 2012: as CEO, Hysan Development Company Limited. The appointment effective from May 15, 2012.