The Cross-Harbour (Holdings)


The Cross-Harbour Limited , formerly the Cross-Harbour Tunnel Company, is a Hong Kong investment holding company with emphasis on transport infrastructures.
Founded in 1965, CHHL owned the franchise to build and operate the Cross-Harbour Tunnel up to 1999. Thereafter, CHHL, through an associated company, has provided management services to the Cross Harbour Tunnel under a renewable management, operation and maintenance contract with the Government of Hong Kong. The Cross-Harbour Tunnel Company also managed the Aberdeen Tunnel in the 1990s.
CHHL together with its wholly owned subsidiary hold a 50% stake in Western Harbour Tunnel Company Limited. WHTCL owns the franchise to build and operate the Western Harbour Crossing from 1993 up to 2023.
In 2008, CHHL acquired a 39.5% effective interest in Tate's Cairn Tunnel Company Limited. TCTC owns the franchise to build and operate the Tate's Cairn Tunnel from 1988 to 2018.
CHHL has a 70% stake in The Hong Kong School of Motoring. HKSM operates three designated driving schools in Hong Kong. CHHL also has a 70% stake in a company which owns half of Autotoll Limited. Autotoll provides electronic toll clearing facilities in Hong Kong covering eleven different toll roads and tunnels.
On 5 June, 2019, an Australian based fund manager, Lanyon Asset Management Pty Limited, made a cash offer to acquire the 50% interest in the WHTCL from CHHL.
On 11 June 2019, Lanyon’s offer was rejected by CHHL.
Lanyon cited this was in the best interest of shareholders.
Subsequently, on 13 August 2019, Lanyon outlined a strategy for CHHL to liquidate their securities portfolio, sell the company yacht and return the surplus cash to CHHL shareholders as a special dividend. Lanyon suggested their initiatives would enable the payment of a special dividend of HK$16.80 per share.