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Old August 16th, 2017, 04:36 AM   #4281
mingrady
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How are HK metro making huge profits when most other metros in the world are losing money?

Are they more efficient? What's their secret?
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Old August 16th, 2017, 04:50 AM   #4282
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MTR Corporation is one of the largest property developers in HK. In exchange for bringing train service to an area, they get the right to build transit-oriented developments near their stations.
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Old August 16th, 2017, 04:51 AM   #4283
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The big increase in profit this year was from property they manage in other cities like Shenzhen this year too I believe
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Old August 16th, 2017, 07:09 AM   #4284
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Quote:
Originally Posted by luacstjh98 View Post
MTR Corporation is one of the largest property developers in HK. In exchange for bringing train service to an area, they get the right to build transit-oriented developments near their stations.

Many of these developments are over-the-top of the depots. Depots occupy a large swarm of land so MTR can build tens of apartment buildings above, and this guarantees patronage. It is a common belief in HK that a property near the MTR station brings convenience, and they have a higher marker price/rent.


MTR also has a lot of commercial properties including skyscrapers and shopping malls. They also contribute a lot of profit there.
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Old August 16th, 2017, 07:12 AM   #4285
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Quote:
Originally Posted by JaJaWa View Post
The big increase in profit this year was from property they manage in other cities like Shenzhen this year too I believe
All the results announcements could be found here
http://www.mtr.com.hk/en/corporate/i...uncements.html
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Old August 21st, 2017, 02:19 PM   #4286
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xxx 17 MTR - Ma On Shan Line, by Howard Pulling, on Flickr
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Old August 28th, 2017, 06:25 PM   #4287
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Untitled by Toby Harvard, on Flickr
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Old August 30th, 2017, 05:43 PM   #4288
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Route map by Brian T, on Flickr
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Old August 30th, 2017, 06:22 PM   #4289
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Quote:
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Route map by Brian T, on Flickr
Wow the only station cut off from this map is Lohas Park, which is where I live
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Old September 26th, 2017, 04:00 PM   #4290
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Old September 27th, 2017, 01:25 PM   #4291
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Old September 28th, 2017, 05:19 AM   #4292
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20170926-DSCF5140 by Jackson Hung, on Flickr
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Old September 30th, 2017, 01:53 PM   #4293
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The 18 years it took Hong Kong to get first MTR subway line – how the Post reported the story
Staring with a public call for an underground railway in 1961, to the first journey by MTR in October 1979, how the Post covered the discussions, decisions and delivery of city’s first subway line
South China Morning Post Excerpt
Sept. 29, 2017

“Underground Railway System Suggested as Answer to Traffic Problems”, ran the South China Morning Post headline on January 24, 1961. Speaking at a Kowloon Round Table meeting, Kenneth A. Watson said roads had reached “saturation points”, and putting on more buses and trams would do little to alleviate the situation.

In February 1966, as public pressure grew, the government commissioned a study to anticipate Hong Kong’s transport needs in the mid-1980s, and on February 15, 1968, under the headline “Rapid-Transport System ‘A Must’”, the Post reported: “Hongkong must build a $3,404m rapid transit system, or a more expensive roads system, in the next 16 years – or face potentially devastating effects on its economy. This is the warning given by a team of experts [whose] rapid-transit plan envisages modern electric railway trains, 300 to 600 feet long, flashing along a 40-mile, four-line circuit of mostly underground track from Hongkong Island to the New Territories, carrying 2.5m people a day by 1986.”

On June 8, 1972, the Post reported that both “enthusiasm and scepticism” had greeted the government’s announcement, the previous day, that it had decided in principle to construct a $6,000 million underground railway system for Hong Kong.

On November 1, 1975, a story in the Post announced: “Work on the $5,800 million mass transit underground railway will begin on Monday. It has taken eight years of research, technical and feasibility studies, planning and negotiations for work to begin.”

A photo of the first MTR cars to arrive in Hong Kong appeared in the May 17, 1978, issue. “Factory fresh, the cars were sitting on the vast deck of a container ship, the Benalder, at Kwai Chung yesterday morning,” read the caption. “The cars [...] are 80 ft long and weigh 23 tons each [...] each train will consist of four cars. […] Altogether 210 cars have been ordered.”

More : http://www.scmp.com/magazines/post-m...way-system-got
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Old October 7th, 2017, 04:17 AM   #4294
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Subsidies on track for MTR travelers
Oct. 6, 2017
The Standard Excerpt

Hong Kong people are set for a mid- autumn gift - a long-distance travel subsidy funded by MTR dividends.

But legislators say such subsidies should benefit all Hong Kong commuters, not just those traveling long distance.

Multiple sources have confirmed that this scheme will be outlined by Chief Executive Carrie Lam Cheng Yuet-ngor in her policy address next Wednesday.

During her election campaign, she promised to look into using MTR dividends to lighten the burden of long- distance grass-roots commuters.

The government holds 75 percent of MTR shares so it receives about HK$4 billion in dividends each year.

Speaking on a radio program yesterday, Michael Tien Puk-san, chairman of the Legislative Council subcommittee relating to railways, said all citizens should benefit instead of a handful, with long-distance travelers gaining the most, and regular commuters paying HK$2 per trip three times a day.

He believes this bonanza could unleash the potential of the labor force by encouraging more New Territories residents to work on Hong Kong Island.
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Old October 11th, 2017, 05:32 PM   #4295
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Oct. 11, 2017
Hong Kong Economic Journal Excerpt
Public transport fare subsidy scheme to benefit 2 mln commuters

Chief Executive Carrie Lam Cheng Yuet-ngor has proposed a fare subsidy scheme that is expected to benefit more than 2 million public transport commuters.

The subsidy is not means-tested, meaning that eligibility will not be based on whether or not they possess the means to do without the government assistance.

Under the scheme, commuters with monthly public transport expenses exceeding HK$400 will be offered a subsidy amounting to 25 percent of the expenses in excess of the level, subject to a cap of HK$300 a month.

It will cover fares for MTR, franchised buses, green minibuses, ferries and trams, Lam said, adding that no application is required to join the scheme.

The government aims to launch the scheme within one year after obtaining funding approval from the finance committee of the Legislative Council.
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Old October 12th, 2017, 05:27 PM   #4296
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Oct 12, 2017
Give us democracy, not HK$300
Hong Kong Economic Journal Excerpt

It is funny how much a small transport subsidy won big for Carrie Lam in her maiden policy address.

The government proposal to rebate as much as HK$300 for travelers using public transport managed to distract attention from more controversial issues like the housing shortage.

Well, that is a sweetener for everyone, but it means nothing more.

Civic Party lawmaker Kwok Ka-ki yesterday offered to give back HK$300 to Lam in exchange for more democracy but was blocked by the guards.

Think about it. One needs to spend at least HK$1,600 on their Octopus cards to qualify for the HK$300 rebate, which is enough for a few rounds of dim sum and a feel-good moment.

But the simple fact is that MTR Corp., an 80 per cent government-owned entity, has been driving up transport costs. The government has not asked the MTR to adjust its escalating fares; neither does it plan to privatize the rail firm.

So a small rebate will only serve to direct attention away from other more important matters like housing.
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Old October 15th, 2017, 05:18 PM   #4297
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Oct 13, 2017
Public transport subsidy scheme spurs criticism
Hong Kong Economic Journal Excerpt

A plan to introduce a non-means-tested public transport fare subsidy scheme has spurred criticism from concern groups for excluding residents’ coaches and red minibuses, the Hong Kong Economic Journal reports.

Chief Executive Carrie Lam announced the scheme in her first policy address on Wednesday.

Under the scheme, the government will provide a subsidy to commuters who spend over HK$400 a month. The subsidy is 25 percent of the amount in excess of HK$400, subject to a cap of HK$300.

The program covers the MTR, franchised buses, green minibuses (public light buses with fixed schedule, routes and fares), ferries and trams.

About two million commuters are expected to benefit from the scheme.

However, the scheme does not cover residents’ coaches and red minibuses (public light buses without fixed schedule, routes and fares), both of which are used by thousands of commuters each day.

Joseph Lai Yee-tak, permanent secretary for transport and housing (transport), told a press conference on Thursday that the reason red minibuses are excluded is that they are not regulated by the government. He did not say why residents’ coaches are also not covered.

Calling the arrangement unfair, Matthew Wong Leung-pak, chairman of the Public Omnibus Operators Association, said the fact that residents’ coaches need approval from the Transport Department to operate means they are entitled to the scheme.

Operators of residents’ coaches, which serve more than 230,000 passengers a day, are likely to see their passengers drop by up to 30 percent without the subsidies, Wong said.

Cheung Hon-wah, chairman of the Hong Kong Public Light Bus Owners and Drivers Association, said operators of red minibuses hope to be regulated by next year so that they can be included in the subsidy scheme. He said red minibuses serving nearly 80 routes have Octopus processors.

The funds for the subsidy scheme, amounting to HK$2 billion, will come from government dividends from the MTR.
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Old Yesterday, 04:33 AM   #4298
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MTR ‘will replace’ faulty cables after Kwun Tong chaos
Oct. 19, 2017
South China Morning Post Excerpt

Up to 3km of data cables operated by Hong Kong’s rail giant would be replaced this month following a serious system malfunction that led to service disruptions and commuter chaos in August, a source within the company said on Thursday.

On August 5, the MTR faced major delays on the Kwun Tong Line because water had infiltrated a network of 28-year-old copper cables, causing corrosion and damage, according to an investigative report submitted to the government. The faulty data links resulted in a signalling problem and triggered a shutdown of operations as a safety measure.

The faulty cables are expected to be replaced by fibre optics.

According to the report by an executive panel, typhoons and heavy rainfall had exacerbated the problem. The review raised three major suggestions including the replacement of cables to be completed by this month.
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Old Yesterday, 08:21 AM   #4299
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Quote:
Originally Posted by xavier114fch View Post
Many of these developments are over-the-top of the depots. Depots occupy a large swarm of land so MTR can build tens of apartment buildings above, and this guarantees patronage. It is a common belief in HK that a property near the MTR station brings convenience, and they have a higher marker price/rent.


MTR also has a lot of commercial properties including skyscrapers and shopping malls. They also contribute a lot of profit there.

This is the only way to make profit for metro system in property market other than the operation of the metro lines.

This model has been copied by Guangzhou Metro, which is also given the land of the metro stations to develop property projects by the Guangzhou government.
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