Octopus Holdings Limited ( Chinese : 八達通控股公司 ) is a holding company based in Hong Kong jointly owned by five major transport companies in the city. Its subsidiaries, which are all wholly owned, operate the various functions of the Octopus card in both its commercial and non-commercial usage. In 2006, the company gained international recognition by winning the Chairman's Award of the World Information Technology and Services Alliance 's 2006 Global IT Excellence Award for the Octopus card system.
19-532: In January 2021, Bravo Transport , parent company of operators Citybus and New World First Bus , sold most of its stake in Octopus Holdings Limited to MTR Corporation , and the small remainder to another company. Prompted by the business expansion of the Octopus card, Octopus Holdings Limited was formed in 2005 after a company restructure of Octopus card operator Octopus Cards Limited . The Octopus card
38-514: A possible option would be a merger between both Citybus and NWFB. He said that there were no firm plans on this option and it would be dependent on the renewal of two bus franchises expiring in 2023. He attributed the loss of ridership due to COVID-19 and the opening of the Tuen Ma line . In July 2022, Bravo Transport announced that it would be discontinuing the New World First Bus brand, and
57-491: A subsidiary of Octopus Holdings Limited, while the non-payment businesses of the company were placed under other subsidiaries, such that its payment businesses are independent of its non-payment businesses. Additionally, Octopus Holdings Limited has also expanded the use of the Octopus card system internationally, operating its businesses outside Hong Kong under a subsidiary. There are five wholly owned subsidiaries of Octopus Holdings Limited. As of 2007, Octopus Holdings Limited
76-609: Is "Connecting people and our city" (彼此連城一線). Bravo Transport was set up as a consortium between Templewater (90.8%), Hans Energy (8.6%) and Ascendal Group (0.6%). Templewater is a private equity fund founded by Investec Bank and Cliff Zhang. Hans Energy is an energy company listed on the Hong Kong Stock Exchange . Ascendal is a United Kingdom -based bus company founded by Adam Leishman in 2018 and has operations in Cambridgeshire and Chile . On 21 August 2020, it
95-412: Is a Hong Kong public transport company, which owns one of the city's bus operators Citybus . The company is majority owned by private equity firm Templewater (through its subsidiary Templewater Bravo), with remaining shareholding held by Hong Kong-listed company Hans Energy and British bus company Ascendal Group . The CEO of Bravo Transport is Adam Leishman, the founder of Ascendal Group. Its slogan
114-865: Is a joint-venture business owned by five transport companies in Hong Kong; 57.4% by the MTR Corporation , 22.1% by the Kowloon-Canton Railway Corporation , 12.4% by Kowloon Motor Bus , 5% by Citybus , and 3.1% by New World First Bus . Since the Government of Hong Kong owns 76.8% of the MTR Corporation (as of 31 December 2009) and wholly owns the Kowloon-Canton Railway Corporation, it is the biggest effective shareholder of Octopus Holdings Limited. Chief executive Prudence Chan
133-508: Is used by card holders as an electronic payment system, and as such, the Octopus card system is considered a commercial business and is regulated by the Hong Kong Monetary Authority . The non-commercial businesses of the company, such as the consumer rewards program, consumer market research, and investment holdings, on the other hand, are not subjected to such regulations. The company restructure placed Octopus Cards Limited as
152-514: The Government of Hong Kong owns 76.8% of the MTR Corporation (as of 31 December 2009) and wholly owns the Kowloon-Canton Railway Corporation, it is the biggest effective shareholder of Octopus Holdings Limited. Chief executive Prudence Chan was under pressure to resign for having made inconsistent disclosures about the sale of personal data by one or more Octopus subsidiaries. Before a Legislative Council's finance affairs panel meeting, legislators from all parties accused her of attempting to mislead
171-591: The NWFB operations merged into Citybus on 1 July 2023 when the bus franchises were renewed. Octopus Holdings Limited Octopus Holdings Limited ( Chinese : 八達通控股公司 ) is a holding company based in Hong Kong jointly owned by five major transport companies in the city. Its subsidiaries, which are all wholly owned, operate the various functions of the Octopus card in both its commercial and non-commercial usage. In 2006,
190-504: The acquisition was finalised, and NWS Transport Services was also renamed Bravo Transport, along with the announcement of a new Chinese name for the company. Three potential logo designs were also shortlisted and employees were invited to vote on their preferred design. The preferred logo was announced on 9 November 2020. In October 2021, Bravo Media, was appointed the agency for the company's exterior and interior bus advertising concessions, commencing on 1 November 2021. Bravo Media would be
209-408: The business expansion of the Octopus card, Octopus Holdings Limited was formed in 2005 after a company restructure of Octopus card operator Octopus Cards Limited . The Octopus card is used by card holders as an electronic payment system, and as such, the Octopus card system is considered a commercial business and is regulated by the Hong Kong Monetary Authority . The non-commercial businesses of
SECTION 10
#1732847547650228-556: The company gained international recognition by winning the Chairman's Award of the World Information Technology and Services Alliance 's 2006 Global IT Excellence Award for the Octopus card system. In January 2021, Bravo Transport , parent company of operators Citybus and New World First Bus , sold most of its stake in Octopus Holdings Limited to MTR Corporation , and the small remainder to another company. Prompted by
247-482: The company, such as the consumer rewards program, consumer market research, and investment holdings, on the other hand, are not subjected to such regulations. The company restructure placed Octopus Cards Limited as a subsidiary of Octopus Holdings Limited, while the non-payment businesses of the company were placed under other subsidiaries, such that its payment businesses are independent of its non-payment businesses. Additionally, Octopus Holdings Limited has also expanded
266-528: The exclusive agency of bus advertising until 30 June 2023. In doing so, Bravo Transport terminated its existing three-year contract with Bus Power Limited mutually under pre-agreed terms. The contract with Bus Power was signed before Bravo Transport's acquisition in July 2020. In December 2021, it was announced that Hans Energy has agreed to acquire an additional 7% shareholding in Bravo Transport. This would alter
285-455: The shareholding of the company to Templewater (83.9%), Hans Energy (15.56%) and Ascendal (0.54%). As of January 2022 , this has not been finalised. In January 2022, Bravo Transport sold most of its Octopus Holdings Limited stake to MTR Corporation , and the small remainder to another company. This was attributed to the continued losses the company was facing due to COVID-19 impacts on its airport and cross-border routes. In May 2024, it
304-476: The use of the Octopus card system internationally, operating its businesses outside Hong Kong under a subsidiary. There are five wholly owned subsidiaries of Octopus Holdings Limited. As of 2007, Octopus Holdings Limited is a joint-venture business owned by five transport companies in Hong Kong; 57.4% by the MTR Corporation , 22.1% by the Kowloon-Canton Railway Corporation , 12.4% by Kowloon Motor Bus , 5% by Citybus , and 3.1% by New World First Bus . Since
323-461: Was announced that Bravo Transport would acquire NWS Transport Services for HK$ 3.2 billion from NWS Holdings , including the subsidiaries of Citybus and New World First Bus (NWFB). At the time, the two subsidiaries were two of the five main bus operators in Hong Kong. Ascendal acts as the operating partner in the consortium, with founder Leishman becoming the CEO of Bravo Transport. In October 2020,
342-409: Was announced that Hans Energy would acquire additional 54.44% shareholding in Bravo Transport from Templewater and Ascendal, making Hans Energy the largest shareholder of the company (70%) while Templewater remain 30% of the shareholding and Ascendal would no longer have control of the company. The transaction was completed in July 31. In July 2021, Leishman admitted that to keep business sustainable,
361-493: Was under pressure to resign for having made inconsistent disclosures about the sale of personal data by one or more Octopus subsidiaries. Before a Legislative Council's finance affairs panel meeting, legislators from all parties accused her of attempting to mislead the public, thus precipitating a crisis of confidence in the company, and putting the company into disrepute. Bravo Transport Bravo Transport Services Limited ( Chinese : 匯達交通服務 ), simply Bravo Transport
#649350