How does Hong Kong MTR make money?
By capturing part of the value of the land and property around railway lines, MTR generates funds for new projects as well as for operations and maintenance. That is why it does not need government subsidies or loans.
How old is the MTR in Hong Kong?
MTR
| Mass Transit Railway (MTR) 港鐵 | |
|---|---|
| Began operation | 1 October 1910 (KCR opened) 1 October 1979 (MTR opened) 2 December 2007 (MTR and KCR operations merged) |
| Operator(s) | MTR Corporation |
| Technical | |
| System length | Heavy rail: 174.7 km (108.6 mi) Light rail: 36.2 km (22.5 mi) |
Is MTR private?
The Company was re-established as the MTR Corporation Limited in June 2000 after the Hong Kong Special Administrative Region Government sold 23% of its issued share capital to private investors in an Initial Public Offering. MTR Corporation shares were listed on the Stock Exchange of Hong Kong on 5 October 2000.
How much does MTR make?
Hong Kong’s MTR Corporation posted profits of HK$9.55 billion (US$1.22 billion) for last year, a marked turnaround from its record losses in 2020, with earnings buoyed by the temporary lull in coronavirus infections.
Is MTR a private company?
The MTR Corporation began as a statutory body but is now a private company listed on the stock exchange (though still a public body). We say “private” but the government owns 75 per cent of the shares.
Who owns the MTR in Hong Kong?
the Hong Kong Government
The sole shareholder was the Hong Kong Government. The Company was re-established as the MTR Corporation Limited in June 2000 after the Hong Kong Special Administrative Region Government sold 23% of its issued share capital to private investors in an Initial Public Offering.
What is the oldest MTR line?
On October 1, 1979, the first Light Rail Transit, aka the MTR, opened up. The original rail line was a 15-kilometer (9 mile) stretch from Shek Kip Mei to Kwun Tong, now part of the Kwun Tong and Tsuen Wan lines. A few months later, the line extended south to include Tsim Sha Tsui Station.
What is the history of Hong Kong MTR?
Hong Kong history on the MTR. Rennie’s Mill got its name from a Canadian businessman named Alfred Herbert Rennie, who established a flour mill at Junk Bay. The business failed, and Rennie hanged himself there in 1908. The incident gave the Chinese name for the site 吊頸嶺 (Tiu Keng Leng), meaning “Hanging (neck) Ridge”.
Why is there a new MTR line in Hong Kong airport?
The new line was included in the financing plans of the new Hong Kong International Airport as the airport was not considered viable without direct public transport links. Construction costs were also shared by the MTRC, which was granted many large-scale developments in the construction plans for the new stations.
How much is the fare of the MTR between two stations?
The fare of MTR between any two particular stations is not calculated using a particular formula, and must be looked up from the fare table. Fares for the Airport Express Line are significantly higher. Services to checkpoint termini are also more expensive than ordinary fares. Adult fares range from HK$ 3. 6 to $52. 6 (US$0. 46–6. 74).
What is MTR Hong Kong race walking?
MTR and Hong Kong Association of Athletics Affiliates have jointly hosted MTR Hong Kong Race Walking annually in spring since 2005. The race walking competition aims at promoting healthy living in Hong Kong.