Ambulances and fire crew are on standby at South Horizons Public Pier. A mother and her son are treated, after being brought ashore at South Horizons. Photos: Tony Flores.

The Director of Operations with the Hong Kong Electric power company, S.S. Yuen, said the company was ferrying 124 passengers and crew aboard a vessel to watch the fireworks in Victoria Harbour.

He said their boat was hit by another passenger ferry, causing their vessel to list. It is now half-submerged with just its bow visible above the water. The other ferry was only slightly damaged and was able to continue its journey.

The government says 101 people have been rescued so far with at least 25 hospitalised.

The Chief Executive, C Y Leung, expressed concern over the accident. Speaking to reporters at the South Horizons Public Pier, he said the rescue operation was of utmost importance and various government departments had set up an emergency response.

Members of the public can call a police hotline on 1878 999 to enquire about relatives and family who may be affected.