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City Telecom (Hong Kong)
Encyclopedia
City Telecom Limited (CTI) was established in 1992. It is a provider of residential and corporate fixed network and international telecommunications services in Hong Kong, currently the second largest provider of broadband internet in the country. CTI played a significant role in liberalizing the international telecommunications market monopoly in Hong Kong since their launch of services.
CTI’s wholly owned subsidiary, Hong Kong Broadband Network Limited ("HKBN"), is a major fixed telecom network services operator, providing the world's fastest residential 1 Gbit/s, 200Mbit/s, 100Mbit/s, 50Mbit/s and 25Mbit/s broadband Internet access, telephony, IP-TV and corporate data services with their self-built Metro Ethernet IP network, which is the largest alternative end-to-end network in Hong Kong. Since their establishment, the Group has aggressively marketed itself and its services to capitalize on the growth and deregulation of the Hong Kong telecommunications market. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile.
City Telecom was listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1137) in August 1997 with an ADR Listing on the Nasdaq National Market (Ticker Symbol: CTEL) in the US in November 1999. In addition to the operations in Hong Kong, the Group also has branch offices in Canada and Guangzhou.
The Group had the strongest turnover growth since FY2000, with the consolidated turnover grew by 14.2% year-on-year to HK$1,303.0 million for the year ended 31 August 2008. This solid growth was primarily contributed by their increase in Fixed Telecommunications Network Service business (FTNS) of 23.8% to HK$1,011.0 million. Besides, the Group’s profits attributable to their shareholders increased by 333.2% to HK$125.2 million with basic earnings per share reaching HK$19.7 cents.
For overseas, the Group invested part of submarine cables, including Japan-US Cable to connect the US and Japan across the Pacific Ocean, as well as Asia Pacific Cable Network 2, connecting to eight districts in Asia and allow direct link with the major fixed network operations in China.
Mr. WONG Wai Kay, Ricky, is the co-founder and Chairman of the Group. He is responsible for our overall strategic planning and management. Mr. Wong has over 20 years' experience in the telecommunications and computer industries. He had worked at a major US-listed computer company as a marketing representative and was responsible for marketing and distribution of computer products in Hong Kong from 1985 to 1989. He was also a co-founder and director of a company principally engaged in import and distribution of computer systems in Canada prior to co-founding of the Group. Mr. Wong holds a Bachelor's Degree in Science and a Master of Business Administration Degree (Executive MBA Programme) from The Chinese University of Hong Kong. He is a first cousin of Mr. Cheung Chi Kin, Paul, the Vice Chairman of the Group. Currently, Mr. Wong is a member of Commission on Youth, a member of Zhejiang Committee, Chinese People's Political Consultative Conference, an independent non-executive director of Bossini International Holdings Limited and a member of the Board of Trustees, United College, The Chinese University of Hong Kong.
Vice Chairman – CHEUNG Chi Kin, Paul
Mr. CHEUNG Chi Kin, Paul, is the co-founder and Vice Chairman of the Group. Mr. Cheung is responsible for overall strategic planning and management of the Group. Prior to that, Mr. Cheung was appointed as the Chief Executive Officer and was responsible for our day-to-day operations and technological research, development and support activities. Mr. Cheung has more than 27 years' experience in the telecommunications and computer industries. He had worked in companies engaged in application software development and computer consultancy prior to co-founding of the Group. Mr. Cheung graduated with a Diploma of Advanced Programming and System Concepts Design from Herzing Institute, Canada. Mr. Cheung is a first cousin of Mr. Wong Wai Kay, Ricky, the Chairman of the Group.
Chairman - Mr. Wong Wai Kay, Ricky
Vice-Chairman - Mr. Cheung Chi Kin, Paul
Chief Executive Officer - Mr. Yeung Chu Kwong, William
Chief Financial Officer, Company Secretary & Head of Staff Engagement - Mr. Lai Ni Quiaque
Director of Corporate Division - Mr. Chong Kin Chun, John
Chief Technology Officer - Mr. Lo Sui Lun
Managing Director of Business Development - Ms. To Wai Bing
CTI’s wholly owned subsidiary, Hong Kong Broadband Network Limited ("HKBN"), is a major fixed telecom network services operator, providing the world's fastest residential 1 Gbit/s, 200Mbit/s, 100Mbit/s, 50Mbit/s and 25Mbit/s broadband Internet access, telephony, IP-TV and corporate data services with their self-built Metro Ethernet IP network, which is the largest alternative end-to-end network in Hong Kong. Since their establishment, the Group has aggressively marketed itself and its services to capitalize on the growth and deregulation of the Hong Kong telecommunications market. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile.
City Telecom was listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1137) in August 1997 with an ADR Listing on the Nasdaq National Market (Ticker Symbol: CTEL) in the US in November 1999. In addition to the operations in Hong Kong, the Group also has branch offices in Canada and Guangzhou.
The Group had the strongest turnover growth since FY2000, with the consolidated turnover grew by 14.2% year-on-year to HK$1,303.0 million for the year ended 31 August 2008. This solid growth was primarily contributed by their increase in Fixed Telecommunications Network Service business (FTNS) of 23.8% to HK$1,011.0 million. Besides, the Group’s profits attributable to their shareholders increased by 333.2% to HK$125.2 million with basic earnings per share reaching HK$19.7 cents.
Self-built next generation network
HKBN’s network currently covers 1.5 million Hong Kong households and will continue to expand towards the 2.0 million target by 2010, reaching over 90% of all homes in Hong Kong. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile. The 100% self-built IP network (Metro-Ethernet) with cumulative investment of HK$2.6 billion, is independent from the incumbent operator, which empowers HKBN to offer superior service and value to their customers. Their symmetrical bandwidth ensures unbeatable speed for both uploading and downloading.For overseas, the Group invested part of submarine cables, including Japan-US Cable to connect the US and Japan across the Pacific Ocean, as well as Asia Pacific Cable Network 2, connecting to eight districts in Asia and allow direct link with the major fixed network operations in China.
Founders
Chairman – Wong Wai Kay, RickyMr. WONG Wai Kay, Ricky, is the co-founder and Chairman of the Group. He is responsible for our overall strategic planning and management. Mr. Wong has over 20 years' experience in the telecommunications and computer industries. He had worked at a major US-listed computer company as a marketing representative and was responsible for marketing and distribution of computer products in Hong Kong from 1985 to 1989. He was also a co-founder and director of a company principally engaged in import and distribution of computer systems in Canada prior to co-founding of the Group. Mr. Wong holds a Bachelor's Degree in Science and a Master of Business Administration Degree (Executive MBA Programme) from The Chinese University of Hong Kong. He is a first cousin of Mr. Cheung Chi Kin, Paul, the Vice Chairman of the Group. Currently, Mr. Wong is a member of Commission on Youth, a member of Zhejiang Committee, Chinese People's Political Consultative Conference, an independent non-executive director of Bossini International Holdings Limited and a member of the Board of Trustees, United College, The Chinese University of Hong Kong.
Vice Chairman – CHEUNG Chi Kin, Paul
Mr. CHEUNG Chi Kin, Paul, is the co-founder and Vice Chairman of the Group. Mr. Cheung is responsible for overall strategic planning and management of the Group. Prior to that, Mr. Cheung was appointed as the Chief Executive Officer and was responsible for our day-to-day operations and technological research, development and support activities. Mr. Cheung has more than 27 years' experience in the telecommunications and computer industries. He had worked in companies engaged in application software development and computer consultancy prior to co-founding of the Group. Mr. Cheung graduated with a Diploma of Advanced Programming and System Concepts Design from Herzing Institute, Canada. Mr. Cheung is a first cousin of Mr. Wong Wai Kay, Ricky, the Chairman of the Group.
Management Committee
The Management Committee was formed to oversee the strategic planning, development and management of the Group. The committee consists of 8 members.Chairman - Mr. Wong Wai Kay, Ricky
Vice-Chairman - Mr. Cheung Chi Kin, Paul
Chief Executive Officer - Mr. Yeung Chu Kwong, William
Chief Financial Officer, Company Secretary & Head of Staff Engagement - Mr. Lai Ni Quiaque
Director of Corporate Division - Mr. Chong Kin Chun, John
Chief Technology Officer - Mr. Lo Sui Lun
Managing Director of Business Development - Ms. To Wai Bing
Milestones
1992
- City Telecom (H.K.) Ltd. was incorporated in Hong Kong
- 888 International Calling Card Service was introduced
1993
- Switching center was established in Buffalo, New York, USA
1994
- Launch of 003 international Guarantee Fax Service
- Launch of GlobaLink International Calling Card Service
1997
- Launch of IDD300 Calling Service
- Set up INC (the Specialized IDD Network for Corporations) for corporate sector
- City Telecom was listed on the Stock Exchange of Hong Kong Limited
1998
- Launch of International Simple Resale (ISR) Fax Service
- Launch of CTInets Internet Access Service
- The first company to receive the license of ISR voice service in Hong Kong
1999
- Launch of IDD1666 Direct Calling Service
- ADR listing on the Nasdaq National Market of USA
2000
- Hong Kong Broadband Network Limited (“HKBN”), a subsidiary of City Telecom obtained the Local Wireless FTNS license
- Launch of Broadband Internet services by HKBN
2001
- CTI International awarded the Satellite-based Fixed Carrier license
- City Telecom Group’s 10th Anniversary
2002
- City Telecom (H.K.) Limited awarded the Cable-based External FTNS license
- HKBN officially launched local on-net VOIP telephony service
- HKBN upgraded to become a wireline-based FTNS licensee
- Launch of HKBN IDD0030 service
- HKBN was confirmed by Cisco Systems to have successfully established the largest Metro Ethernet IP network in the world
2003
- HKBN officially launched IP-TV service
2004
- HKBN launched corporate data services
- HKBN launched off-net residential VOIP service, namely, the Broadband Phone Service
- HKBN announced the launch of “bb100”, Hong Kong’s first 100Mbit/s residential broadband service, and the release of its 1 Gbit/s residential broadband service by 2Q 2005
2005
- HKBN officially launched “bb1000” Fibre-to-the-Home 1 Gbit/s residential broadband service
- HKBN launched 2b Broadband Phone Service, providing VOIP service to local and overseas users via software version broadband phone
- HKBN has become the first service provider in the world to achieve the Cisco Powered Network Metro Ethernet QoS Certified status
2007
- HKBN launched bb50 & bb200 symmetric residential broadband service supported by “SDU” personalized customer care service
- HKBN enhanced Digital TV Platform and launched new application “bbBOX”
- HKBN’s IP-TV service was renamed as bbTV
- CTI Group established Volunteer Team
- HKBN launched “Fiber-To-The-Home” (FTTH) residential broadband services “FiberHome100”, “FiberHome200” and “FiberHome1000”
- City Telecom Group’s 15th Anniversary
- HKBN launched first wave marketing campaign "Squeeze"
- HKBN launched second wave marketing campaign "Alexander Graham Bell" & "Kung Fu Fighting Ants"
2008
- HKBN launched the free WiFi service at public housing rental estates
- HKBN launched Dual Mode High Definition Terrestrial TV Receiver + IPTV Set-Top Box
- HKBN awarded contract for the provision of payhouse service at the Hong Kong International Airport
- HKBN launched third wave marketing campaign "That's Ridiculous"
- HKBN launched the National Geographical Channel's first ever Interactive Channel
- HKBN launched fourth wave marketing campaign "18 Commercials for the 18 Districts"
See also
- Hong Kong Broadband Network Limited
- List of Hong Kong companies
- Companies listed on the Hong Kong Stock ExchangeCompanies listed on the Hong Kong Stock ExchangeThis is a list of companies on the Hong Kong Stock Exchange , ordered numerically by stock code. The names of the companies appear exactly as they do on the stock exchange listing. This is not an exhaustive list, but reflects the list that appears on HKEx's Hyperlink Directory...