News Release

11th December 2005

HIT and YICT Deploy Electronic Billing (eBilling) Services with Hyundai Merchant Marine to Enhance Invoice Efficiency


[11 December 2005, Hong Kong] Hongkong International Terminals (HIT) and Yantian International Container Terminals (YICT) have successfully deployed an eBilling service, which connects Hyundai Merchant Marine Co. Limited’s (HMM) invoice processing system to the billing systems of HIT and YICT.

Commenting on this electronic communication platform, Mr. Eric Ip, Managing Director of HIT, said, “We are constantly seeking innovative ways to improve our business practices. This eBilling service significantly shortens invoice delivery times thereby enhancing the efficiency of billing procedures. 90% of HIT invoices to HMM will be issued electronically.” Mr. Ip further added, “By the end of this year 30% of all our invoices will be issued via this new service, which shows our efforts in deploying proprietary technology to best serve the needs of our customers.”

Mr. Honghwan Ahn, Senior Executive Vice President of HMM said, “HMM’s adoption of eBilling services with HIT and YICT supports the efforts we have been making to streamline our payment processes. The swift transference of files engenders greater efficiency and reduces costs by substantially decreasing the need for manual entry and verification.” Mr. Ahn concluded, “Having an eBilling system with a liner company is another competitive tool within the HPH Group’s extensive service portfolio and further supports its statue as the world’s leading port operator.”

Mr. Kenneth Tse, Director and General Manager of YICT, said, “The setting up of an electronic link for invoicing represents the ongoing commitment of YICT in applying advanced information technology to enhance our service efficiency. The eBilling service enables HMM to directly connect with YICT in all invoice related matters and will rapidly speed-up the entire billing process.”