MTR Corporation Limited
||The English used in this Unsimplified copy and paste or section may not be easy for everybody to understand. (March 2012)|
On 5 October 2000 the operator of the MTR network, MTR Corporation Limited, became Hong Kong's first privatised rail and metro company, which marked the start of the Hong Kong government's planned initiative to wind down its interests in various public utilities. Prior to its listing on the Hong Kong Stock Exchange, the Mass Transit Railway Coporation was wholly owned by the Hong Kong Government. The offering involved the sale of around one billion shares, and the company now has the largest shareholder base of any company listed in Hong Kong. In June, 2001, MTR Corporation Limited was transferred to Hang Seng Index.
MTR Corporation Limited has always been reliant on developing properties next to railway stations for its profits (although the rail lines are profitable themselves); many recently built stations are incorporated into large housing estates or shopping complexes. Examples of this type of construction can be seen at Tsing Yi station, which is built next to the Maritime Square shopping centre, and directly underneath the Tierra Verde housing estate.
On April 11, 2006, MTR Corporation Limited signed a non-binding Memorandum of Understanding with the Hong Kong Government, the owner of Kowloon-Canton Railway Corporation (KCRC), to merge the operation of the two railway networks of Hong Kong. If eventually approved, MTR Corporation Limited will take over the operation of the KCR network and combine the fare system of the two networks.
References[change | change source]
- "MTR Corporation Signs Memorandum of Understanding with The Government on Terms of Proposed Rail Merger", MTR Corporation Limited press release, 11 April 2006
- "KCRC welcomes Government’s announcement on way forward for rail merger", Kowloon-Canton Railway Corporation press release, 11 April 2006
Other websites[change | change source]
- MTR Corporate Website
- Press release on Wuhan (Adobe Systems Acrobat PDF format)
- History and Development of the Company, EDGAR Online.
- Transport for London press release
- MTR Properties and MTR Property Management
- Maritime Square Website
- Paradise Mall Website
- Luk Yeung Galleria Website
- Telford Plaza Website
- Residents Portal
- Documentary MTR Underground Iron - The Building of a Railway on YouTube