See the original photo on Flickr.
In 1958, the Public Works Department published a map which shows the area intended to be reclaimed in Yau Tong Bay. The rough outline of the coast would be smoothed and straightened, this new land was provided for shipbuilding and sawmills. The reclaimed land was divided into lots: Kwun Tong Marine Lots (K.T.M.L.)
Also shows Sam Ka Tsuen Pier (pre-WW2).