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Old February 15th, 2014, 10:39 AM   #221
dimlys1994
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Hi, guys! Any news on new HSR stations?
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Old February 24th, 2014, 02:43 PM   #222
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Published today:

Quote:
http://www.globalrailnews.com/2014/0...rail-stations/

E&M contract awarded for Taiwanese high-speed rail stations
24 FEB, 2014

The electrical and mechanical systems for three new stations on Taiwan’s high-speed network are to be installed by Toshiba.

The Japanese company will deliver a JPY 2.8 billion turnkey order for E&M systems at the Miaoli, Changhua and Yunlin stations as part of an expansion of Taiwan’s high-speed rail network (THSR).

Taiwan’s first high-speed railway opened in January 2007 between Taipei and Kaohsiung. Seven years earlier, a consortium of seven Japanese companies, including Toshiba, were picked to build the 345km/h line.

Since the line was completed, THSR has placed additional orders with Toshiba, first in May 2012 for four new 12-car trainsets and then in July 2013 for the E&M systems for an extension of the line between Taipei and Nangang, which is set to be completed by 2016.

The latest contract includes the passenger announcement systems, passenger information systems, maintenance management information systems and the electrification and power systems.

Toshio Masaki, chief executive of Toshiba’s Social Infrastructure Systems Company, said: “Toshiba is committed to fully supporting the project and bringing it in on schedule.

“We strongly hope that THSRC will continue to advance its system, and that we can introduce THSR as a successful example of the Shinkansen system to other countries planning to build high speed rail lines.”

Between now and 2030, Taiwan is expected to spend €13.8 billion on new metro lines and upgrades to the high-speed network and the country’s conventional mainline railway.
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Old April 13th, 2014, 05:24 PM   #223
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THSRC risks bankruptcy: MOTC
18 March 2014
Taipei Times

Minister of Transportation and Communications Yeh Kuang-shih yesterday said that the Taiwan High Speed Rail Corp (THSRC) is likely to go bankrupt by the end of this year if it does not resolve its financial problems quickly.

Yeh made the comments at a meeting of the legislatures Transportation Committee, where lawmakers were set to review draft amendments to the Mass Rapid Transit Act.

The THSRC board voted Tony Fan in as its new chairman last week and named former Uni Air chairman James Jeng as chief executive.

The chairman will be in charge of solving the financial problems, whereas the CEO will oversee the daily operation of the high-speed rail system, Yeh said. The company would file for bankruptcy if its financial problems are not solved by the end of this year.

Yeh also said that the company was asked to submit within three months a proposal to improve its financial situation, including plans to reduce capital and extend its concession period.

The company has NT$105.3 billion (US$3.47 billion) in capital and accumulated losses of NT$53 billion. During construction, the company issued preferred shares valued at NT$40 billion. The losses made the company unable to pay the dividends, causing shareholders to sue for payment. With some suits successful, THSRC and the ministry are concerned regarding potential collective action from shareholders demanding dividend payment or redeeming the stocks, worsening the financial situation.

To write off the losses, shareholders must be willing to reduce the capital by 50 percent, with Yeh saying that the five original shareholders have agreed to do so.

Allen Hu, acting director-general of the Bureau of High Speed Rail, said shareholders may not redeem their funds so quickly if the company can manage to reduce its capital this year.
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Old June 4th, 2014, 04:22 PM   #224
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From Rail Journal:

Quote:
http://www.railjournal.com/index.php...ml?channel=542

Government offers Taiwan High Speed rescue plan
Wednesday, June 04, 2014

TAIWAN's Ministry of Transportation and Communications has proposed a radical financial restructuring of Taiwan High Speed Railway Corporation (THSRC) which it says will help the company overcome its continuing struggle with debt and avoid bankruptcy.

Mr Yeh Kuang-shih, Taiwan's minister of transportation and communications, proposes first reducing THSRC's capital by at least 60% through a preferred stock redemption and after the capital reduction is completed requiring the company to raise $NT 30bn ($US 991.1m) in capital.

Yeh told a Transportation Committee meeting on May 29 that the company will be mired in debt for the next five years and could face bankruptcy if serious steps are not taken. He also proposes extending the operator's concession from 35 up to 75 years and says that a comprehensive financial restructuring plan will be presented by the end of next month.

"We have examined cases from around the world and have found that 35 years might be too short," Yeh says.

THSRC reported a gross profit of $NT 12.34bn in 2013 following record operating revenues of $NT 36.1bn, a 6.24% increased compared with $NT 33.98bn reported in 2012.

However, Yeh says even with factoring in expected 6.2% annual revenue growth, the company will not be able to sustain its operations under its current financial structure. He says that THSRC will have to generate annual revenues of $NT 40-75bn to cover the costs of amortisation, repay loans, and finance construction of new stations in Miaoli, Yunlin, Changwa, and Nangang.

THSRC is already coming under pressure from investors to redeem the cost of their stakes or meet interest payments. The company issued preferred shares valued at $NT 40.2bn during construction of the high-speed line, primarily to banks. But with two stakeholders already winning cases against THSRC to recover costs, the government fears other investors may follow suit

Yeh says following completion of the procedure THSRC's initial investors will be banned from investing further in the company but that the government would be open to investments from company's wholly or partially owned by the government. The government would also control the seats on THSRC's board.

THSRC chairman Mr Tony Fan says the company aims to raise $NT 50.5bn to buy back its preferred shares and pay dividends in order to settle its accounts with the banks
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Old June 4th, 2014, 05:14 PM   #225
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Miaoli HSR station construction in May, taken from Wikipedia:

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Old July 1st, 2014, 08:47 AM   #226
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THSRC boss lukewarm on government buyback
THSRCs Tony Fan said a proposal that the government buy back the high-speed rail line may not benefit shareholders because Taipei could name its price
28 June 2014
Taipei Times

Taiwan High Speed Rail Corp (THSRC) chairman Tony Fan yesterday said that selling the high-speed rail system to the government is not an ideal solution to the companys financial quagmire.

Fan, who took office in March, presided over his first annual shareholders meeting yesterday.

With the company facing the threat of bankruptcy by the end of this year, shareholders offered various suggestions on how the company could solve its financial problems.

The companys financial report showed that the firm had accumulated losses of NT$52.1 billion (US$1.74 billion) as of Dec. 31 last year. In addition, the company is scheduled to buy back NT$40.2 billion of preferred stock and pay NT$11.3 billion in dividends this year.

One shareholder suggested that the company should consider selling the high-speed rail system to the government, but that the sale should not be used to pay board members from the private sector who were involved in the construction of the rail system.

Other shareholders said that the company should not pay a dividend because it is still in debt. They proposed that the company give each shareholder 10 coupons for trips on the high-speed rail, with those holding a larger stake in the company given more coupons.

In response, Fan said a government buyback was not an ideal way to improve the companys financial situation.

If the government was to buy the system, it could name its own price, he said. Shareholders would certainly want to raise as much money as possible, but the government would try to buy the system for the lowest price possible. Whether the price that the government would be willing to offer would benefit shareholders has yet to be determined. Meanwhile, completing the transaction would take a long time, one that could take as long as 10 years without reaching a conclusion.

As to the coupons proposal, Fan said the company could follow the example of HTC Corp, which gave each shareholder attending the annual shareholders meeting a new HTC smartphone.

Fan added that a ticket from Taipei to Greater Kaohsiung costs NT$1,600 and the company would have a problem affording one free ticket for each shareholder.

Fan said that the firms accounting department would have to evaluate the costs and benefits of giving out coupons.

He said the company could consider giving out souvenirs to shareholders attending the annual shareholders meeting next year, but it would have to carefully evaluate the possibility of giving out coupons.

I came to THSRC to solve the financial problems, Fan said.

We are working to reduce the capital first and then to raise more capital later to remove the debt, and then request an extension of the concession period to try to address the companys financial issues, he said.
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Old August 18th, 2014, 03:47 PM   #227
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THSR sees 1,000 riders in delays
Signal problems in Chiayi sparked minor delays for passengers a week after more than 27,000 riders faced lengthy service woes
12 August 2014
Taipei Times

More than 1,000 high-speed rail passengers were delayed yesterday after abnormal signals detected in railway switches held up three trains yesterday.

The incident happened after just a week after more than 27,000 commuters were affected by service delays or cancelations on Monday last week, when two railway switches near the high-speed rail station in Greater Taichung were damaged by a lightning-induced power surge.

It was also the 15th incident this year to disrupt the operation of the high-speed rail system.

According to the Taiwan High Speed Rail Corp, the operation control center identified abnormal signals from the railway switches at the northbound tracks near the high-speed rail station in Chiayi. The company dispatched a maintenance crew to the site to conduct train redeployment, which then caused two northbound trains and one southbound train to stop temporarily on the tracks.

To ensure safety, the three trains then passed through Chiayi Station at lower speeds, causing them to reach their destinations 15 to 20 minutes later than scheduled.

Passengers were ineligible for compensation because delays lasted less than the 30 minutes required for fare refunds.
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Old August 18th, 2014, 04:09 PM   #228
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Not to fret- by Amtrak standards, those trains would be considered "on time". Long distance trains that arrive within 30 min. of the schedule are considered such.
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Old August 18th, 2014, 05:27 PM   #229
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It's only a 90 minute trip from end-to-end, so a 30 minute delay would be substantial.
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Old August 19th, 2014, 05:45 AM   #230
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Quote:
Originally Posted by k.k.jetcar View Post

Not to fret- by Amtrak standards, those trains would be considered "on time". Long distance trains that arrive within 30 min. of the schedule are considered such.
I would encounted 16 hour expected delays with Amtrak once. The guy at the station told me the train was still in Canada when it supposed to be in Santa Barbara. I had a friend drove instead, and got to my destination in less than 16 hour. I don't know if that train ever arrived...
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Old August 20th, 2014, 07:18 AM   #231
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I would encounted 16 hour expected delays with Amtrak once. The guy at the station told me the train was still in Canada when it supposed to be in Santa Barbara. I had a friend drove instead, and got to my destination in less than 16 hour. I don't know if that train ever arrived...
If I remember correctly, the record for Amtrak was something along the lines of 24 hours... Gotta love Amtrak for being epic.

On the other hand, I find the number of switch malfunctions on THSR disturbing. If I remember correctly the switch designs are German, while the rest of the THSR infrastructure is Japanese. For as long I can remember the switches have been a persistent cause for concern.

Once, when boarding the THSR at Taoyuan, the intercom announced that a Northbound train was being diverted to the Southbound platform due to a switch malfunction. Makes one wonder what is going on.
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Old August 26th, 2014, 07:29 PM   #232
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By LeeMartin from dcfever :

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Old December 7th, 2014, 05:29 AM   #233
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THSRC is doomed: Yeh
Despite leaving without solving financial problems facing the THRSRC and Taoyuan Aerotropolis, Yeh was philosophical on his departure from government
2 December 2014
Taipei Times Excerpt

In remarks following his resignation yesterday, Minister of Transportation and Communications Yeh Kuang-shih said that the Taiwan High Speed Rail Corp (THSRC) is doomed to go bankrupt, adding it could happen as soon as the beginning of next year.

I think it is the only option. It is only matter of time before the company officially declares bankruptcy. We have missed the opportunity to turn the tide, he said.

Yeh said the government must ensure that the high-speed rail system can continue to operate, but the THSRC is in the meantime facing pressure from banks seeking to claim the interest on their loans to the company. A government takeover is probably the only way out of the quagmire, he added.

As for the endless questions as to whether ticket prices would be cut, Yeh said sarcastically that tickets could be available free of charge if the high-speed rail system becomes state-run.

Yeh reiterated the dire consequences of a government takeover of the high-speed rail system, adding that the government, the public and THSRC shareholders would all lose if that came about.

When I became the minister of transportation and communications, my mission was to fix the financial problems facing the high-speed rail operator, Yeh said. It was a pity that I did not get it done, but you cannot expect everything to go your way. You just have to accept the fact that you cannot do it.

It was predicted the THSRC would go bankrupt in March, having liabilities of NT$452.8 billion (US$14.58 billion) and accumulated operational losses of NT$47 billion as of June.
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Old December 8th, 2014, 02:36 AM   #234
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So why is high speed rail in Taiwan going bankrupt? Not enough rider patronage, perhaps?
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Old December 8th, 2014, 03:51 AM   #235
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So why is high speed rail in Taiwan going bankrupt? Not enough rider patronage, perhaps?
No, the cause is an unfavorable financing package. Higher than market rate interest rates and depreciation fixed to the timeline of the concession, rather than the infrastructure. Ridership is fine.
As per the article:

Quote:
...but the THSRC is in the meantime facing pressure from banks seeking to claim the interest on their loans to the company...
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Old December 9th, 2014, 11:24 AM   #236
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Well, the fares are already quite expensive. Don't see how these can move further up until people get fed up and take the buses at a fraction of the cost.
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Old December 11th, 2014, 10:12 AM   #237
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I don't know the market segments in Taiwan, but usually high speed rail competes against the airlines, rather than buses, which usually cater to the lower end of the customer market (students, low income people, people who are not time sensitive). The key is to keep the business market, as these people are typically on company paid trips and are time-sensitive.
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Old December 11th, 2014, 05:15 PM   #238
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Quote:
Originally Posted by k.k.jetcar View Post
I don't know the market segments in Taiwan, but usually high speed rail competes against the airlines, rather than buses, which usually cater to the lower end of the customer market (students, low income people, people who are not time sensitive). The key is to keep the business market, as these people are typically on company paid trips and are time-sensitive.
Airlines were wiped out along the main domestic corridor.

High speed rail costs many times that of buses but the incremental time savings don't match up in the same multiples. A HSR line like this one with such high frequencies and big trains cannot survive on business traffic alone.
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Old December 11th, 2014, 05:27 PM   #239
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THSR takes 1:36 for the 339 km trip Taipei-Zuoying.
How are the trip times of competing slow speed trains and buses on the same trip?
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Old December 12th, 2014, 09:39 AM   #240
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THSR takes 1:36 for the 339 km trip Taipei-Zuoying.
How are the trip times of competing slow speed trains and buses on the same trip?
The fastest local services take 5 hours between Taipei and Kaosiung. However, most people do not travel that length.

Taipei to Hsinchu on local trains takes around 90 minutes. THSR takes 20. Fair enough, but while the local train station is in the middle of downtown, the HSR station is outside in the suburbs. Sometimes it takes you 30-40 minutes to get to the station.

Suddenly you realized that you've wasted a lot of money.
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