Since its establishment in 1965 as a sole proprietorship, Waihong has grown into one of Hong Kong’s leading environmental services companies. Waihong grew rapidly in the 1970s and 1980s along with the Hong Kong economy. It was incorporated with limited liability in 1986. In 1988 Waihong was acquired by the French company SITA S.A., one of the world’s leading environmental services companies with operations throughout Europe, Asia and South America. SITA provided financial resources and technical expertise for further growth into the 1990s.

In 1998 SITA, in line with its strategy of focusing on its core business of waste management and municipal cleansing, divested its interest in Waihong. The buyer was New World Services Limited, a large diversified service conglomerate with interests in facilities management, transport, and contracting services. In 2003, as part of the New World Group reorganization program, New World Services Limited was acquired by NWS Holdings Limited (A New World Group’s new service flagship with diversified operations in service, infrastructure and ports in Hong Kong, Macau and Mainland China).

In line with New World Group’s corporate strategy to streamline its business structure, NWS Holdings has disposed certain subsidiary companies engaged in service businesses (including Waihong). The legal ownership of Waihong was transferred to FSE Holdings Limited with effect from 30 June 2011, but its operation needs were not adversely affected.

On 11 April 2018, Waihong was acquired by FSE Services Group Limited, stock code: 331 (previous known as FSE Engineering Holdings Ltd).