New World First Bus
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New World First Bus

New World First Bus
New World First Bus
New World Development Co (HK stock code 0017) is a Hong Kong conglomerate with operations in property, infrastructure, transport, retailing telecommunications and bus (New World First Bus) and ferry operations.It is controlled by Chow Tai Fook, a holding company owned by businessman Cheng Yu-tung.
Industry
Transportation
Website
nwfb.com.hk
Headquarters address
8/F, New World Tower, 16-18 Queen's Road Central, Hong Kong
Year founded
1998
The MTR Corp has increased fines for fare dodgers and stepped up enforcement operations. Photo: Yik Yeung-man
Hong Kong transport

More than 670 people caught in 9-day Hong Kong crackdown on train fare dodgers

Cheats who abused the HK$2 subsidy scheme for elderly and disabled account for 89 of 671 people caught skimping on fares.

Hong Kong transport

Hong Kong’s New World First Bus drives into history as it merges with Citybus

Hong Kong transport

5 franchised bus firms in Hong Kong get green light to raise fares

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Hong Kong economy

Hong Kong firms move to cut major deals in Middle East after John Lee’s visit

Hong Kong businesses reap the benefits of city leader John Lee’s visit to Saudi Arabia and UAE in February.

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Chief Executive John Lee and his delegation view smart city projects on a tour hosted by Saudi officials. Photo: Handout
Hong Kong transport

Toll rise of up to HK$10 at 2 Hong Kong cross-harbour tunnels from August 2

Adjustments are set to be made when the government takes back the privately operated Western Harbour Tunnel in August.

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Hong Kong

Editorial | Hong Kong bus users do not want to be taken for a ride

The latest fare adjustments sought by franchised bus operators, ranging from 8.5 per cent to more than 50 per cent, are the last thing the public wants as the city’s economy slowly emerges from the pandemic

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Accidents and personal safety

New Year’s Day bus crash in Hong Kong injures 12; driver arrested

Bus ends up on its side in Tseung Kwan O after crashing through roadside barrier.

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More than 30 passengers were injured after a bus overturned in Tseung Kwan O on New Year’s Day. Photo: Sun Yeung
Hong Kong transport

Just-opened tunnel and roads in Hong Kong to be monitored for traffic problems

Transport officials and police to keep close watch on traffic volumes at Tseung Kwan O-Lam Tin Tunnel and Cross Bay Link.

Hong Kong economy

New World First Bus fans try to get more photos before colours change

Companies’ owner hopes bringing the operations together will reduce overlapping routes and cut costs.

Hong Kong

Editorial | Merger must not take Hong Kong passengers for a ride

Loss-making Citybus and New World First Bus will operate as one company under latest franchise, and its performance will have to be closely monitored.

Citybus and New World First Bus will operate as one company called Citybus Limited, under a new 10-year franchise in July 2023. Photo: Yik Yeung-man
Hong Kong economy

Hong Kong firms Citybus and New World First Bus to merge as losses mount

Citybus and New World First Bus to join forces next year in new government 10-year deal, owner says it will invest more than HK$3.5 billion over franchise term.

Citybus (left) and New World First Bus vehicles at the bus terminal in Central. Photo: Yik Yeung-man
MTR Corporation

Hong Kong authorities could cut cross-harbour bus services amid drop in riders

Franchised cross-harbour buses have lost 20,000 passengers a day since opening of MTR extension, says Assistant Commissioner for Transport Honson Yuen.

MTR Corporation

New cross-harbour rail link a boon for Hong Kong commuters, not bus operators

Bus operators brace themselves for ‘exodus’ of passengers as East Rail line MTR extension will cut travel time from New Territories.

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Hong Kong economy

Bravo Transport Services sells stake in Octopus amid Hong Kong’s fifth wave

The new owner of Citybus and New World First Bus sold its 2.78 million shares to MTR Corporation.

Bravo Transport Services has sold its stake in Octopus Holdings. Photo: Dickson Lee
Transport and logistics

‘Worse than expected’: Hong Kong bus operator on making business sustainable

Options on the table include subsidies, a merger and granting the company the rights to develop property above and around its depots.

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The owner of Hong Kong’s New World First Bus and Citybus is in talks with the government about options for reducing its losses. Photo: Dickson Lee
Hong Kong economy

New owner of Hong Kong’s Citybus, New World First Bus weighing merger

CEO of Bravo Transport Services, which took over the two operators last year, admits hefty losses have forced the company to look at cost-trimming options.

Hong Kong courts

Bus driver who swerved double-decker at police guilty of reckless driving

Cheung Ho-yin could lose licence after magistrate opts not to impose fine over incident in Yau Ma Tei in September last year.

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Transport and logistics

Major Hong Kong bus operator urges overhaul of system for adjusting fares

Franchised bus operator calls for MTR-style open, transparent system of annual fare reviews.

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William Chung, vice-chairman of Bravo Transport Services, has called for changes to the way bus fares are adjusted. Photo: Felix Wong
Transport and logistics

New owner considers merging Citybus, New World First Bus operations

Plans include having same colour for buses, same uniform for frontline workers, but merger must wait until 2023, union says.

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Hong Kong economy

Letters | Bus fare hikes put city on road to nowhere

Bus companies are backed by big investors with the capacity to bear any loss or risk of operating a business. The needy have no such safety net, especially when even sweeteners have been withdrawn.

Banking & finance

Adrian Cheng’s SPAC is poised for US$345 million New York IPO

As many as 128 SPACs have raised a combined US$38 billion in New York as of February, making it one of the latest fads in world finance since the explosive growth of cryptocurrencies.

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Adrian Cheng Chi-kong, CEO of New World Development, poses in front of State Theatre in North Point. Lee is sponsoring a blank cheque company that plans to raise up to US$345 million in a Nasdaq listing. Photo: Dickson Lee
Hong Kong economy

Editorial | Public is being held hostage by bus firms

The excuse that fare rises are crucial to maintaining essential services holds no water, especially at a time when the economy is in the doldrums and the unemployment rate has hit a 17-year high.

Citybus and New World First Bus will increase fares by 12 per cent. Photo: May Tse
Apps

Letters | KMB must speed up sharing of real-time data

Hong Kong police

Hong Kong bus driver charged after being accused of endangering police

New World First Bus employee was stopped on Nathan Road in Yau Ma Tei on Sunday, as officers deployed in the area during anti-government protest operation. He has been charged with careless driving.

From our archives

When New World took over China Motor Bus’ routes

After being dogged by complaints and the threat of industrial action, China Motor Bus’ routes were taken over by New World First Bus, and all 2,300 staff went, too.

A New World logo replaces a China Motor Bus logo on the side of a bus in 1998. This month New World First Bus, as CMB became, was sold again, along with Citybus, to private equity buyers. Photo: SCMP
Transport and logistics

Consortium buys Citybus, New World First Bus for HK$3.2 billion

Consortium is led by private equity fund Templewater Bravo, which will own more than 90 per cent of the bus firms after the acquisition.

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Bus ridership has been hit hard in Hong Kong and the bus firms have seen profits tumble. Photo: Fung Chang
Coronavirus pandemic

Third wave of Covid-19 hitting elderly hard as Hong Kong records 11th death

Health authorities advise elderly residents in particular to avoid going out and family members living with them to stay home as much as possible.

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Coronavirus pandemic

Bus operators get government mask help – but must pay back supply

Move sparks complaints by union, which suggests cash payments instead. City’s bus drivers down to one mask per day from two previously.

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