The chairman of Hong Kong logistics and real estate conglomerate Wharf Holdings, Stephen Ng Tin Hoi, said that Hong Kong port is no longer among the world’s busiest ports and is not optimistic about the terminal business.
Wharf Holdings, which operates container terminals (under the Modern brand name) in Hong Kong and Shenzhen, saw operating profit from the group’s logistics business halve year-on-year, to US$48.4 million in 2023. Overall, the group achieved a net profit of US$141.5 million,...