Mtr a success story 12.11.2012 v5

HONG KONG MASS TRANSIT RAILWAY

A SUCCESS STORY

PRESENTED

Ir Thomas S K LAICEng, MICE, MIStructE, MHKIE

Chairman HKIE UK CHAPTER

75th ANNIVERSARY OF THE HONG KONG POLYTECHNIC UNIVERSITY

MEMORIES OF OLD TECHNICAL COLLEGE BUILDINGS

HONG KONG TECHNICAL COLLEGE

THE RED BRICK BUILDING IN WANCHAI

灣仔紅磚屋

NEW PREMISES IN HUNGHOM

KESWICK HALL

HKPolyU ALUMNI

DR DANIEL WATERS FELIX CHAN

FORMER HEAD HKTC OLD HKTC BUILDINGS BUILDING DEPARTMENT PROJECT SUPERVISOR

HKPolyU ALUMNI

THOMAS LAI PRESENTING HKTC BUILDING DEPARTMENT OLD BOYS ASSOCIATION

SCHOLARSHIP

BIRTH & GROWTH OF

HONG KONG MASS TRANSIT RAILWAY

UP TO DATE

BEAUTIFUL HONG KONG

HONG KONG

• LOCATED AT THE PEARL RIVER ESTUARY ON THE SOUTHERN COAST OF CHINA

VICTORIA HARBOUR

HARBOUR FRONT

August 2003 77

STAR FERRY

August 2003 66

CHALLENGING BIRTH

CULTURAL REVOLUTION

• In 1966 – CULTURAL REVOLUTION RAGING IN CHINA

• SPILLED OVER TO HONG KONG

• FARE INCREASE IN STAR FERRY

• RIOTS

• SERIOUS DISRUPTION

TO PUBLIC TRANSPORT

CULTURAL REVOLUTION

HONG KONG IN

CRISIS

CULTURAL REVOLUTION

HONG KONG IN

CRISIS

危机• Danger Opportunity

PUBLIC LIGHT BUS18

• AVAILABLE - FREQUENT SERVICE

• CONVENIENT - PASSENGERS HOP ON AND OFF ANYWHERE ALONG ROUTE

• PREMIUM FOR SERVICE

• POPULAR WITH PASSENGERS

HONG KONG GOVERNMENT

•VIABILITY OF UNDERGROUND RAILWAY SYSTEM

•CONFIRMED BY CONSULTANT’S FEASIBILITY STUDY

•1975 - MASS TRANSIT PROVISIONAL AUTHORITY

•1976 - MASS TRANSIT RAILWAY CORPORATION

THE MASS TRANIST RAILWAY ORDINANCE

• WHOLLY GOVERNMENT OWNED ENTERPRISE

• MANDATED TO BUILD AND OPERATE AN UNDERGROUND RAILWAY SYSTEM

• ON PRUDENT COMMERCIAL PRINCIPLES

• HAVING REGARD TO THE REASONABLE REQUIREMENTS OF THE PUBLIC TRANSPORT SYSTEM OF HONG KONG

HONG KONG GOVERNMENT PUTS IN INITIAL EQUITY (HK$ 800 M)

MTRC BORROWS REST IN OPEN MONEY MARKET

PREFERRED SYSTEM

INITIAL SYSTEM

LETTER OF INTENT SIGNED WITH JAPANESE CONSORTIUM FOR THE INITIAL SYSTEM

(20 km) AS A SINGLE DESIGN & BUILD CONTRACT

INITIAL SYSTEM

OIL CRISIS

CONSORTIUM WITHDREW

MODIFIED INITIAL SYSTEM

MIS (15.6 km)

25 CIVIL & 10 E&M

DESIGN AND BUILD CONTRACTS

GOVERNMENT SET UP MASSTRANSIT ADVISER (MTA) TO:

• CO-ORDINATE BETWEEN MTRC & GOVERNMENT DEPARTMENTS

• FACILITATE TIMELY POLICY MAKING & ISSUE RESOLUTION

DIFFERENT LEVEL OF COMMITTEES & WORKING GROUPS:

• GOVERNMENT / MTR LIAISON COMMITTEE

• GOVERNMENT / MTR PUBLICITY COMMITTEE

• METRO PUBLIC RELATIONS POLICY GROUP

• LAND ACQUISITION CO-ORDINATION COMMITTEE (LACC)

• STATION AND TRANSPORT INTEGRATION COMMITTEE (STIC)

• SAFETY AND SECURITY CO-ORDINATION COMMITTEE (SSCC)

• TRAFFIC MAMAGEMENT GROUP (TMG)

• UTILITIES CO-ORDINATION GROUP (UCG)

INSPECTORATE OF RAILWAY (UK)

• APPOINTED BY GOVERNMENT AS ADVISER ON RAILWAY SAFETY

• PROVIDES INPUT DURING DESIGN

• INSPECTS RAILWAY SYSTEM

• RECOMMENDS OPENING

IMPORTANCE OF PUBLIC RELATIONS

• OBSERVATION WINDOWS ON HOARDINGS

• GROWING FOR YOU

• CEREMONIES OF COMMENCEMENT

& COMPLETION OF WORKS

PARTICIPANTS (STAKEHOLDERS) INCLUDE:

CORPORATION REPRESENTATIVESCONTRACTORSCONSULTANTSGOVERNMENT OFFICIALSLEGISLATORSDISTRICT COUNCILLORSLOCAL DIGNITARIES

• TEAM BUILDING

• PUBLICISING PROGRESS OF WORKS

GROUNDBREAKING CEREMONY BY CHAIRMAN SIR NORMAN THOMPSON

AT KWUN TONG37

WORK STARTED

• NOVEMBER 1975

• FIRST CHAIRMAN – SIR NORMAN THOMPSON

DIRECT ACCESS TO THE GOVERNOR SIMPLE & CLEAR MESSAGES

• PROJECT MANAGER – HONG KONG & SHANGHAI BANK HQ BUILDING

FIRST M.D. – PROF TONY RIDLEY

M.D. – LONDON UNDERGROUND

MAJOR IMPROVEMENT TO THE SYSTEM

PROFESSOR – IMPERIAL COLLEGE LONDON

• GENERAL PUBLIC

– EXCITEMENT

– EXPECTATION

– DETERMINATION

• GENERAL PUBLIC

HIGH DEGREE OF TOLERENCE

CO-OPERATION

PROJECT MANAGEMENT APPROACH:

• QUICK DECISION-MAKING

• REGULAR MONITORING OF EFFECT OF CHANGES ON BUDGET & PROGRAMME

• APPROPRIATE DELEGATION OF AUTHORITY

• SHARE RISKS & BENEFITS WITH CONTRACTORS

• BASED ON PROVEN TECHNOLOGY

• PROJECT MOTTO:

IF IT IS ESSENTIAL,

GET ON WITH IT. IF IT IS DESIRABLE,

FORGET IT.

GOVERNMENT

COMMUNITY MTRC

UNITY IN PURPOSE

GROUND CONDITIONS

ALLUVIAL DEPOSITS

GRANITE (VARYING DEGREE OF DECOMPOSITION)

HARD ROCK

STATION WALL CONSTRUCTION

STATION CONSTRUCTION

INSITU HORSESHOE TUNNEL

PRECAST CONCRETE TUNNEL LINING

SGI TUNNEL LINING

NGAU TAU KOK STATION & VIADUCT

KOWLOON BAY DEPOT

ADMIRALTY STATION EXCAVATION

IMMERSED TUBE CASTING

• FROM KWUN TONG TO CENTRAL KWUN TONG TO SHEK KIP MEI

– OPERATIONAL ON 1 OCTOBER 1979

• FROM KWUN TONG TO CENTRAL KWUN TONG TO TSIM SHA TSUI

– OPERATIONAL ON 31 DECEMBER 1979

• FROM KWUN TONG TO CENTRAL KWUN TONG TO CENTRAL

– OPENED BY PRINCESS ALEXANDRA

ON 12 FEBRUARY 1980

• FROM KWUN TONG TO CENTRAL

ON TIME AND WITHIN BUDGET

ESTIMATED COST IN 1975 HK$ B

(INCL. 7% p.a. ESCALATION TO 1980) 5.8

CONSTRUCTION COST 5.6

INCL. INTEREST AND FINANCE COST S 7.3

• NO SMOKING

• NO EATING

• NO DRINKING

• NO MUSIC/RADIO

• CLEAN

• QUIET

• EFFICIENT

• RELIABLE

• AIR-CONDITIONEDDAVID BARRACLOUGH

FORMER OPERATIONS DIRECTOR

SUCCESS

GROWTH

TSUEN WAN LINE

BUILDING UP THE COMPANY

ERIC BLACK

SECOND MD

TSUEN WAN LINE

• ENGINEER’S DESIGN

• CONTRACTOR’S ALTERNATIVE PROPOSALS CONSIDERED &

ADOPTED

TSUEN WAN DEPOT &

LUK YEUNG SUN CHUEN DEVELOPMENT67

LAI KING TO KWAI FONG CROSS-OVER

• SET UP STRONG IN-HOUSE PROFESSIONAL PROJECT MANAGEMENT TEAM

• HANDS-ON STYLE

• PROJECT TEAM RESPONSIBLE FOR:

FEASIBLITY STUDY PROPOSAL TO GOVERNMENT SPECIFICATION APPOINTMENT OF CONSULTANTS TENDERING CONTRACT AWARD DESIGN MANAGEMENT CONSTRUCTION MANAGEMENT TESTING & COMMISSIONING HANDOVER TO OPERATIONS

• TSUEN WAN LINE– TSUEN WAN TO CENTRAL

– OPERATIONAL 10 May 1982 (AHEAD OF PROGRAMME)

ESTIMATED COST IN 1978 HK$ B(INCL. ESCALATION TO 1982) 4.1

CONTRACT COSTS 3.7 CORPORATION COST CONSULATANTS’ FEES LAND ACQUISITION COMPENSATION 0.7

FINAL CONSTRUCTION COST 3.9

INCL. INTEREST AND FINANCE COSTS 5.3

• ISLAND LINE

– CHAI WAN TO ADMIRALTY

31 MAY 1985

– CHAI WAN TO SHEUNG WAN

23 MAY 1986

ESTIMATED TOTAL COSTS HK$ B

AT 1986 PRICES 10.9

(EXCL. INTEREST AND FINANCE

COSTS)

FINAL COST 10.0

INCL. INTEREST & 11.9

FINANCE COSTSWILLIAM GREIG

FORMER PROJECTS DIRECTOR

MORE CHALLENGING TIME

• CHAIRMAN & CEO :

SIR WILFRID NEWTON STRENGTHENED CORPORATION’S FINANCE LAID SOUND FOUNDATION FOR FUTURE

GROWTH RE-ORGANISED HONG KONG STOCK

EXCHANGE AFTER MARKET COLLAPSE

BOARD MEMBER OF HONG KONG & SHANGHAI BANKING CORPORATION (HSBC)

HON. FELLOW - HKIE CHAIRMAN – LONDON TRANSPORT

OVERSAW JUBILEE LINE EXTENSION

CONSTRUCTION

MTR ARRIVAL & GROWTH OF MTR

COINCIDE WITH :

TRANSFORMATION OF HONG KONG

FROM REGIONAL CITY

TO INTERNATIONAL FINANCIAL CENTRE

HONG KONG LEASE

• 99-YEAR LEASE EXPIRES ON 1 JULY 1997

• GOVERNMENT DEPENDS ON SALE OF LAND LEASES FOR REVENUE

• NEEDS TO KNOW ITS FUTURE

• NEGOTIATION BETWEEN LONDON & BEIJING

HONG KONG LEASE

• BRITISH PRIME MINISTER VISITED BEIJING

• OFFER TO EXCHANGE SOVEREIGNTY FOR ADMINSTRATION

• OFFER REJECTED BY CHINA

HONG KONG LEASE

BUT AGREED TO:

• SET UP JOINT LIAISON COMMITTEE (JLC)

• CONTINUE NEGOTIATION

• MAINTAIN STABILITY & PROSPERITY OF HONG KONG

HONG KONG LEASE

• NEGOTIATION NOT GOING WELL

• UNCERTAINTY

HONG KONG LEASE

• JITTERY & GLOOMY

• INVESTMENTS PUT ON HOLD

• STOCK MARKET CRASH

• PROPERTY BUBBLE BURST

HONG KONG LEASE

HONG KONG DOLLAR PLUNGES

FROM AROUND HK$ 6 = US$ 1

OVER HK$ 9 = US$ 1

HONG KONG LEASE

PEOPLE RUSH TO SUPERMARKET

TO BUY :

HONG KONG LEASE

PEOPLE RUSH TO SUPERMARKET

TO BUY :

RICE &

BABY’S POWDERED MILK

HONG KONG LEASE

• CURRENCY PEG

HK$ 7.8 = US$ 1

HONG KONG LEASE

• CALM THE CITY

• STOP PANIC

August 2003 85

HONG KONG LEASE

• IN 1984 BRITAIN & CHINA SIGNED JOINT DECLARATION ON FUTURE OF HONG KONG

• CHINA TO REGAIN FULL SOVEREIGNTY ON 1 JULY 1997

HONG KONG LEASE

PROMISE TO HONG KONG PEOPLE

• HONG KONG PEOPLE GOVERN HONG KONG

• WITH HIGH DEGREE OF AUTONOMY

• ONE COUNTRY TWO SYSTEMS

• NO CHANGE FOR 50 YEARS

HONG KONG LEASE

•ENSHRINED IN

BASIC LAW

•LODGED WITH

UNITED NATIONS

HONG KONG LEASE

• CURRENCY PEG

HK$ 7.8 = US$ 1

• REMAINS TO THIS DAY

• BORROWING IN US$

• REVENUE IN HK$

• ADVERSE IMPACT BY

HIGH INTEREST RATE (12%) DEVALUATION

• HONG KONG GOVERNMENT TO INCREASE EQUITY

(HK$ 2.5 B ISSUED, 2.5 B ON CALL )

• SHIFT BORROWING TO BE

HK$ DENOMINATED

ROGER MOSS

FORMER FINANCE DIRECTOR

SECURED CREDIT RATING FROM• MOODY• S&P

ROAD SHOW TO TAP INTERNATIONAL BOND MARKET• YANKEE BOND• SAMURAI BOND

• IN NO POSITION TO FINANCE NEW EXTENSIONS ON ITS OWN

EASTERN HARBOUR CROSSING

EASTERN HARBOUR CROSSING ENTRANCE

• Build Own Transfer PROJECT BY OTHERS

• LINKING KWUN TONG TO QUARRY BAY

• THIRD CROSS HARBOUR TUNNEL CARRYING ROAD AND RAILWAY

• RAIL PORTION LEASED TO MTRC

MTRC PAYS SEMI-ANNUAL INSTALMENTS FOR

18½ YEARS TOTALLING HK$ 2.6 B

OTHER CAPITAL INVESTMENT

INCL. ROLLING STOCKS 0.365 B

WILLIAM DONALD

FORMER PROJECTS & OPERATIONS DIRECTOR

OPENED ON 1 OCTOBER 1989

PRINCE CHARLES SPEAKING TO THOMAS LAI

AFTER JOINT DECLARATION

• UNCERTAINTY REMOVED

• CONFIDENCE RETURNED

LIPPO CENTRE

CHECKERBOARD IN SIGHT

KAI TAK AIRPORT

STEADY AS SHE GOES

KAI TAK AIRPORT

DO YOUR WINDOW SHOPPING BEFORE YOU LAND

KAI TAK AIRPORT

SEE....I LAND IT ON THE ROOF

KAI TAK AIRPORT

HARD RIGHT TURN AND DIVE

KAI TAK AIRPORT

BUT LANDING ON THE RUNWAY...... IS NOT ALWAYS

EASY106

KAI TAK AIRPORT

SOMETIMES.... ENDED UP IN THE WATER

KAI TAK AIRPORT

AIRPORT CORE PROJECTS

RELOCATE AIRPORT FROM KAI TAK TO CHEK LAP KOK

• APPROVED BY BEIJING

& LONDON

• OBJECTIVES:

– TO STIMULATE ECONOMY– TO FACILITATE FUTURE GROWTH– TO ELIMINATE AVIATION HAZARD

– TO BE COMPLETED IN TIME FOR HANDOVER

• AIRPORT AT CHEK LAP KOK

• TSING MA BRIDGE

• LANTAU & AIRPORT RAILWAY

• KAP SHUI MUN BRIDGE

• TING KAU BRIDGE

• HIGHWAYS

• RECLAMATIONS

• THIRD CROSS HARBOUR ROAD TUNNEL (WESTERN HARBOUR CROSSING)

• HK$ 127 BILLION £ 10 BILLION

CHINA’S CONCERN:

• ROSE GARDEN PROJECT

• EMPTY TREASURY

• HIGH DEBT

AGREEMENT REACHED TO:

• LEAVE HK$ 25 B MIN. IN TREASURY

• CAP GOVERNMENT BORROWING AT HK$ 5 B UNLESS AGREED OTHERWISE

• CAP ANNUAL LAND SALE NO MORE THAN 50 ha /year

ESSENTIAL TO HAVE CHINA’S AGREEMENT AND SUPPORT

TO ASSURE INVESTORS

WRANGLING OVER FINANCIAL DATADELAYED PROJECT START

HAMISH MATHERS

FORMER CHAIRMAN

JACK SO

FORMER CHAIRMAN & CEO

AT TIME OF HANDOVER ON 30 JUNE/1 JULY 1997

• CHINESE PRESIDENT ARRIVED BY PLANE AT THE NEW AIRPORT

• LAST BRITISH GOVERNOR LEFT ON ROYAL YACHT BRITANNIA

PROJECT COMPLETED IN 1998

HONG KONG INTERNATIONAL AIRPORT

TSING MA BRIDGE(ROAD + RAIL)

LANTAU & AIRPORT LINE

AIRPORT EXPRESS LINE(AEL)

AIRPORT – HONG KONG

23 MINUTES JOURNEY

IN-TOWN-CHECK-IN

TUNG CHUNG LINE(ON SHARED TRACK WITH AEL)

TUNG CHUNG - HONG KONG

COMMUTER LINE

ALSO PROVIDES RELIEF

TO NATHAN ROAD CONGESTION

FINANCIAL SUPPORT AGREEMENT (FSA)WITH GOVERNMENT

• HK$ 23.7 B ADDITIONAL EQUITY BY GOVERNMENT

• 62 ha LAND FOR DEVELOPMENT• DEFERRAL OF DIVIDENDS UNTIL 2001• REVENUE DEFICIENCY PAYMENTS (80% FOR NO MORE THAN 2 YEARS IF DELAYED BY OTHERS)

EXTENSIVE APPLICATION OF

VALUE ENGINEERING

INTRODUCE PARTNERING

RUSSELL BLACK

FORMER PROJECTS DIRECTOR

NO MORE SLIDING SEATS

TUNG CHUNG LINE

AEL TRAIN

AIRPORT EXPRESS

• SPACIOUS SEATING

• PLEASANT AMBIENCE

• BUSINESS CLASS COMFORT

FROM PLANE, THROUGH TRAIN, TO HOTEL

LAL TCL

OPERATIONAL ON 22 JUNE 1998

OPERATIONAL ON 6 JULY 1998

PROJECT COST 35.1(INCLUDING CAPITALISED INTEREST)

FINANCED BY:

EQUITY 23.7DEBT 11.4

CONSOLIDATION

TSEUNG KWAN O LINE

• TSEUNG KWUN O LINE

– COMMUTER LINE

– FROM PO LAM TO NORTH POINT

– OPERATIONAL ON 17 AUGUST 2002

I st JULY – 1997

ASIAN FINANCIAL CRISIS

MAJOR REVIEW OF THE

PROJECT

INITIAL CAPITAL COST ESTIMATE HK$ B

INCL. CAPITALISED INTEREST 30.5

FINAL COST 16.0

HANG HAU STATION

NORTH POINT CAVERN

DISNEYLAND RESORT LINE

• DISNEYLAND RESORT LINE

– FROM SUNNY BAY TO DISNEYLAND

– FULLY AUTOMATIC OPERATION

– OPERATIONAL ON

12 SEPTEMBER 2005

ASIAWORLD-EXPO STATION

AIR STATION –

ASIAWORLD-EXPO

OPERATIONAL ON

20 DECEMBER 2005

NGONG PING 360

AIRPORT ISLAND STATION TUNG CHUNG TERMINAL

NGONG PING 360

• MATERIAL DELIVERY

– HELICOPTERS

– MULES

NGONG PING 360

SCHEDULED OPENING 24 JUNE 2006

OPERATIONAL 18 SEPT 2006

OFFICIAL OPENING 9 NOV 2006

NGONG PING 360

OPERATION SUSPENDED 11 JUNE 2007

OPERATION RESUMED 31 DEC 2007

SUBSIDIARY COMPANY SET UP TO

MANAGE & OPERATE THE SYSTEM

SUCCESS PROFILERATING

PROJECT MANAGEMENT

RAILWAY OPERATION

FINANCIAL EXPERTISE

TRAINING & DEVELOPMENT

PROPERTY

AUTOMATIC FARE COLLECTION

• INVEST HEAVILY IN STAFF TRAINING & DEVELOPMENT

• CORE VALUES :

CUSTOMER SERVICE

RESPECT FOR THE INDIVIDUAL

ON TIME AND WITHIN BUDGET

PROVIDES PROFESSIONAL

TRAINING SERVICES TO OTHER RAILWAYS IN:

– MAINLAND CHINA

– SOUTHEAST ASIA LEN TURKFORMER LEGAL DIRECTOR & COMPANY SECRETARY

PATRICK MAULE FORMER PERSONNEL DIRECTOR

PHIILP GAFFNEYFORMER OPERATIONS DIRECTOR

PROPERTY DEVELOPMENT& MANAGEMENT

MAJOR GOVERNMENT POLICY ISSUES

TRANSPORT HOUSING

• GOVERNMENT ALLOCATE LAND AT FULL MARKET VALUE ALONG THE RAILWAY FOR DEVELOPMENT

• MAJOR & REPUTABLE PROPERTY DEVELOPER AND MANAGER IN TOWN

• JOINT VENTURES

– RESIDENTIAL – RETAIL– OFFICES– HOTEL

• SUBSTANTIAL CONTRIBUTION TOWARDS COST OF RAILWAY

• CAPTURED PASSENGERS

(FORMING PART OF 2.4 M DAILY RIDERSHIP)

PROCEEDS FROM DEVELOPMENTS HELP TO:

• KEEP FARES AT REASONABLE LEVEL

• MAINTAIN & EXTEND RAIL NETWORK

PROPERTY DEVELOPMENT & MANAGEMENT

TELFORD GARDEN

PARK VIEW

CENTRAL STATION RETAIL

TELFORD PLAZA

MARITIME SQUARE

166 ELEMENTS

2 INTERNATIONAL FINANCE CENTRE

UNION SQUARE

INTERNATIONAL COMMERCE CENTRE

• 118 FLOORS

• 490 METRES HIGH

• THIRD TALLEST BUILDING IN THE

GATEWAY TOWERS

• PROPERTY OPEARATIONS

& MANAGEMENT

CHINA – BEIJING

GINZA MALL

AS AT END 2011:

Investment properties

Hong Kong: 12 shopping malls + 18 floors at 2 IFC

Shops 226,622 sq.m )

Offices 41,000 sq.m ) 279,424 sq.m

Other use 11,202 sq.m )

Mainland China: Ginza Mall

Shops 18,398 sq.m

Managed properties:• 86,162 residential units in Hong Kong• 744,214 sq.m commercial properties in Hong Kong• 776,402 sq.m in Mainland China

• ELECTRO-MAGNETIC CARD

• STORED VALUE CARD

• CONTACTLESS SMART CARD

ELECTRO-MAGNETIC CARD

• PLASTIC• RE-USABLE• NO LITTER• ISSUED BY MACHINE / HAND• FIXED VALUE• ELECTRO-MAGNETIC• SINGLE JOURNEY

• NO SMOKING

• NO EATING

• NO DRINKING

• NO MUSIC/RADIO

• NO TICKET FLICKING

STORED VALUE• PLASTIC• RE-USABLE• NO LITTER• ISSUED BY MACHINE / HAND• FIXED VALUE• ELECTRO-MAGNETIC• MULTIPLE JOURNEYS• UNRESTRICTED LAST JOURNEY• ADVANCE REVENUE COLLECTION• REDUCTION IN CASH HANDLING

OCTOPUS CONTACTLESS SMART CARD

• PLASTIC• ISSUED BY MACHINE / HAND• RE-USABLE• NO LITTER• MULTIPLE JOURNEYS• ADVANCE REVENUE• RADIO FREQUENCY IDENTIFICATION (RFID)• NO CONTACT AT TURNSTILE• TOP UP VALUE• FURTHER REDUCTION IN CASH HANDLING• ACCEPTED BY BUSINESS PARTNERS

• RELIABLE TICKETING

• LABOUR SAVING

• DATA FOR:

OPERATIONAL PLANNIN INCLUDING PRICING

• FORERUNNER OF:

• EZ-LINK – SINGAPORE

• OYSTER CARD – LONDON

• EASYCARD - TAIPEI

OTHER USES:

PUBLIC TRANSPORTSCAR PARKSACCESS CONTROL TO BUILDINGSCONFIRMATION OF STUDENTS’

ATTENDANCE AT SCHOOL

AS AT END OF JUNE 2012

• 12.1 MILLION DAILY TRANSACTIONS

• HK$ 123.9 MILLION PER DAY

• ADOPTED BY OVER 5000 SERVICE PROVIDERS

MTR CORPORATION

AN OUTSTANDINGLY SUCCESSFUL

ENTERPRISE

MTR CORPORATION LTD

LISTED ON THE HONG KONG EXCHANGE

ON 5 OCTOBER 2000

MERGER WITH KCRC

MERGER

• HONG KONG GOVERNMENT ANNOUNCED MERGER PROPOSAL BETWEEN MTRCL & KCRC ON 11 APRIL 2006

MERGER

• KCRC

• ORIGINALLY A GOVERNMENT DEPARTMENT• TURNED INTO A WHOLLY GOVERNMENT

OWNED PUBLIC CORPORATION• CHARGED TO OPERATE AND DEVELOP

DOMESTIC, CROSS-BOUNDARY AND INTERCITY RAILWAY SERVICES

• IN A PRUDENT COMMERCIAL MANNER

MERGER

• OPERATES:– EAST RAIL– WEST RAIL– LIGHT RAIL– INTERCITY TO

GUANGZHOU– FREIGHT TO

INTERIOR OF MAINLAND CHINA

MERGER

• PROPERTY DEVELOPMENT

MANAGEMENT

MERGER

• HONG KONG GOVERNMENT ANNOUNCED MERGER PROPOSAL BETWEEN MTRCL & KCRC ON 11 APRIL 2006

• MTRCL SIGNED MEMORANDUM OF UNDERSTANDING (MOU) WITH HK GOVERNMENT

MICHAEL TIEN DR RAYMOND CH'IEN FORMER CHAIRMAN KCRC CHAIRMAN MTRCL

MERGER

MOU PROVIDES FOR:

• REDUCED FARE• ABOLITION OF SECOND BOARDING CHARGE• FURTHER DISCOUNTS FOR MEDIUM & LONG DISTANCE

JOURNEYS• INTRODUCTION OF AN OBJECTIVE, TRANSPARENT &

PREDICTABLE FARE ADJUSTMENT MECHANISM (FAM)• FULLY INTEGRATED INTERCHANGE STATIONS FOR

SHATIN TO CENTRAL LINK• IMPROVEMENT ON EXISTING INTERCHANGE

ARRANGEMENTS IN THE SHORT TERM• PROVISION OF SEAMLESS INTERCHANGE

ARRANGEMENTS WITH FUTURE EXTENSIONS

MERGER

MOU PROVIDES FOR

• JOB SECURITY FOR ALL FRONTLINE STAFF

MERGER

DEAL TERMS

• PROVIDE A BALANCED PACKAGE FAIR TO ALL STAKEHOLDERS

MERGER

DEAL TERMS

• ACQUISITION OF RENEWABLE OPERATIONAL RIGHT OF KCR FOR 50 YEARS– UPFRONT PAYMENT OF HK$4.25 BILLION FOR SERVICE

CONCESSION AND TO PURCHASE CERTAIN RAIL ASSETS– HK$7.79 BILLION FOR A PROPERTY PACKAGE– FIXED ANNUAL PAYMENT OF HK$750 MILLION– VARIABLE ANNUAL PAYMENT BASED ON REVENUES

GENERATED FROM KCR’S RAIL AND RAIL-RELATED OPERATIONS

• EXPECTED TO BE EPS & NPV ACCRETIVE FOR MTRCL

MERGER

MEET THE GOVERNMENT’S FIVE PARAMETERS

1. ADOPTION OF A MORE OBJECTIVE AND TRANSPARENT FAM

2. ABOLITION OF THE SECOND BOARDING CHARGE & REVIEW FARE STRUCTURE TO REDUCE FARES

3. EARLY RESOLUTION OF INTERCHANGE ARRANGEMENTS FOR RAIL PROJECTS UNDER PLANNING, NOTABLY THE SHATIN TO CENTRAL LINK

4. ENSURE JOB SECURITY FOR FRONTLINE STAFF5. PROVISION OF SEAMLESS INTERCHANGE

ARRANGEMENTS IN THE LONG TERM

MERGER

BENEFITS

• SYNERGY• ECONOMIES OF SCALE• COST EFFICIENCY• INTEGRATED RAIL SYSTEM

MERGER

TRANSITION - ONE YEAR OR MORE

SHARE PRICE JUMPED 5.3%

(FROM HK$19 TO 20)

RAIL MERGER BILL APPROVED BY LegCo

on 8 JUNE 2007

OUTLOOK - BRIGHT

MERGED

• COMPLETED ON

2 DECEMBER 2007

• 香港鐵路有限公司198

ONE COMPANY ONE TEAM

MERGED

• 211 Km ROUTE LENGTH• 82 STATIONS• 9 COMMUTER LINES• AIRPORT EXPRESS• LIGHT RAIL• DISNEYLAND RESORT LINE• FEEDER BUS SERVICE• CABLE CAR• INTERCITY PASSENGER SERVICE• INTERCITY FREIGHT SERVICE• 3 MILLION DAILY PASSENGERS

MERGED

ONE COMPANY ONE TEAM

STAFF INTEGRATION WiILLIAM CHAN FORMER HUMAN RESOURCE DIRECTOR

MTR CORPORATION LTD

GROWTH MOMENTUM

EXPANSION

NEW VISION :

• TO BE A WORLD CLASS ENTERPRISE • GROWING IN HONG KONG & BEYOND• FOCUSING ON RAIL, PROPERTY &

RELATED BUSINESS

• NEW MISSION :

• EXCELLENT VALUE FOR CUSTOMERS• OPPORTUNITIES FOR STAFF• DEVELOP RAILWAY NETWORK AS

BACKBONE OF PUBLIC TRANSPORT IN HONG KONG

• GROW IN MAINLAND CHINA & CAPTURE OPPORTUNITIES IN EUROPE

• NEW CORE VALUES :

EXCELLENT SERVICEVALUE CREATIONMUTUAL RESPECTENTERPRISING SPIRIT

HONG KONG BUSINESS

HONG KONG INTERNATIONAL AIRPORT

SUBCONTRACT FOR AUTOMATED PEOPLE MOVER MIDFIELD CONCOURSE EXTENSION PROJECT

RESPONSIBLE FOR DESIGN, PROCUREMENT, INSTALLATION, TESTING & COMMISSIONING OF SEVERAL RAILWAY SYSTEMS

MACAO BUSINESS

MACAO GOVERNMENT

MOU SIGNED FOR LIGHT RAIL PROJECT CONSULTANCY

METRO & AIRPORT LINES

CONSULTANCY

TO REVIEW DESIGN PROPOSALS IN RESPECT OF :

OPERATION &

MAINTENANCE

VIADUCT CONSTRUCTION

CONSULTANCY

MOU SIGNEDTO ASSIST TO DEVELOP A MASS URBAN TRANSPORT SYSTEM, PROVIDING HIGH QUALITY TRANSPORT SERVICES

Delhi Airport Metro Express Line (AMEL)

• Major engineering & project management contract

UK BUSINESS

LORO (MTR/LAING )

FRANCHISE TO OPERATE

NORTH & EAST LONDON OVERGROUND LINES FROM 11 NOVEMBE 2007 FOR 7 YEARS WITH OPTION FOR 2 FURTHER YEARS SUCCESS

215215215

UK BUSINESS

LOROL (MTR/DEUTSCHE BAHN)

ACTION ON DAY ONE

• OYSTER TICKETING SYSTEM

• NEW TICKETING MACHINES

• STATIONS GATED

(MTR/DEUTSCHE BAHN)

• IMPROVEMENT IN:

1. SERVICE OPERATION2. PUNCTUALITY3. SAFETY4. SECURITY

• TICKETLESS TRAVEL DOWN

• REVENUE UP216216

UK BUSINESS

217217217

UK BUSINESS

(MTR/DEUTSCHE BAHN)

PROGRAMME FOR:

• CUSTOMER SERVICE TRAINING • STATION CLEANING AND REPAIR• STATION REFURBISHEMENT• STATION REMODELLING• NEW EXTENSIONS

UK BUSINESS

• “….so gradually all suburban rail services in London can be brought up to the standard of London Overground.”

Ken Livingstone

Mayor of London

(MTR/DEUTSCHE BAHN)

UK BUSINESS

9TH LONDON TRANSPORT AWARDS

LONDON TRANSPORT OPERATOR OF THE YEAR

(SECOND YEAR IN A ROW)

2012 METRORAIL AWARDS LONDON

WORLD’S MOST IMPROVED METRO

(MTR/DEUTSCHE BAHN)

UK BUSINESS

SHORT-LISTED TO BID FOR:

ESSEX THAMESIDE FRANCHISE

(LONDON FENCHURCH STREET – TILBURY- SOUTHEND)

SEPTEMBER 2012

THAMESLINK FRANCHISE

(BEDFORD – GATWICK - BRIGHTON)

FEBRUARY 2013

EUROPE BUSINESS

STOCKHOLM UNDERGROUND

TOOK OVER OPERATION 2 NOVEMBER 2009

(FOR 8 YEARS MINIMUM)

AUSTRALIA BUSINESS

METRO TRAINS MELBOURNE

TOOK OVER OPERATION ON 30 NOVEMBER 2009

(FOR INITIAL PERIOD OF 8 YEARS)

AUSTRALIA BUSINESS

UNITED GROUP LTD.

SUBCONTRACT TO SUPPORT ITS ROLLING STOCK MAINTENANCE WORKS IN NEW SOUTH WALES

CHINA BUSINESS

SHANGHAI

TOGETHER WITH ITS JOINT VENTURE PARTNER, APPOINTED AS:

OWNER’S REPRESENTATIVE TO PROJECT MANAGE DESIGN AND CONSTRUCTION OF LINE 9

OWNER’S ADVISOR OF LINE 8 & LINE 11

CHINA BUSINESS

BEIJING LINE 4– INITIALLED IN FEBRUARY 2005

– COMPANY FORMED IN JANUARY 2006

– AGREEMENT SIGNED ON 12 APRIL 2006

CHINA BUSINESS

BEIJING LINE 4

– PPP– 30-YEAR CONCESSION AGREEMENT WITH BEIJING

MUNICIPAL GOVERNMENT– FOR INVESTMENT, CONSTRUCTION & OPERATION

OPENED 28 SEPTEMBER 2009

DAXING LINEOPENED 30 DECEMBER 2010

CHINA BUSINESS

SHENZHEN LINE 4

– 30-YEAR BOT PROJECT– CONCESSION AGREEMENT WITH

SHENZHEN MUNICIPAL GOVERNMENT– ‘RAIL + PROPERTY’– INITIALLED IN MAY 2005– PHASE 1 TAKEN OVER 01 JULY 2010– PHASE 2 OPENED 16 JUNE 2011

CHINA BUSINESS

HANGZHOU LINE 1

– J.V. AGREEMENT WITH SUBSIDARY OF HANGZHOU METRO GROUP (PPP)

– INVEST & OPERATE LINE 1 FOR 25 YEARS

– RESPONBLE FOR E&M SYSYTEMS & ROLLING STOCK– SINGED IN JULY 2012

BUSINESS OUTSIDE HONG KONG

COMPANY SHARE

BEIJING MTR CORPORATION LTD. (BJMTR) 49%

MTR CORPORATION ( SHENZHEN) LTD. (SZMTR) 100%

METRO TRAINS MELBOURNE PTY. LTD. (MTM) 60%

MTR STOCKHOLM AB (MTRS) 100%

TUNNELBANAN TEKNIK STOCKHOLM AB (TBT) 50%

LONDON OVERGROUND RAIL OPERATIONS LTD. (LOROL) 50%

MTR HANGZHOU LINE 1 INVESTMENT CO. LTD. 100%

CURRENT EXTENSION PROJECTS

HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT

• 2007-2008 POLICY ADDRESS ANNOUNCES TEN MAJOR INFRASTRUCTURE PROJECTS

• ANNUAL EXPENDITURE OF

HK$ 50 BILLION (£ 4 BILLION)

IN COMING YEARS

HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT

HONG KONG GOVERNMENT INFRASTRUCTURE INVESTMENT

• Transport Infrastructure1. South Island MTR Line 2. The Sha Tin to Central MTR Link 3. The Tuen Mun Western Bypass and Tuen Mun-Chek Lap Kok Link

• Cross-boundary Infrastructure Projects4. The Guangzhou-Shenzhen-HK Express Rail Link 5. HK-Shenzhen Airport Co-operation 6. HK-Zhuhai-Macao Bridge 7. HK-Shenzhen Joint Development of the Lok Ma Chau Loop

• New Urban Development Areas 8. West Kowloon Cultural District 9. Kai Tak Development Plan 10. New Development Areas (NDAs)

RAILWAY EXTENSIONS

236XRL

RAILWAY EXTENSIONS

237WIL

RAILWAY EXTENSIONS

238KTE

RAILWAY EXTENSIONS

JAY WALDER CEO TC CHIEW PROJECTS DIRECTOR

RAILWAY EXTENSIONS

240SIL(E)

FULLY AUTOMATIC OPERATION

RAILWAY EXTENSIONS

EXTENSION PROJECT FUNDING

XRL SERVICE CONCESSION(GOVERNMENT CAPITAL + MTRCL OPERATIONS)

WIL CAPITAL GRANT

KTE RAIL + PROPERTY

SCL SERVICE CONCESSION

SIL(E) RAIL + PROPERTY

RAILWAY EXTENSIONS

242RAILWAY DEVELOPMENT STRATEGY 2000

(UPDATE)

RAILWAY BUILDING

FEASIBILITY

IDENTIFY TRANSPORT NEEDSFEASIBILITY STUDYROUTE PROTECTIONPROPOSAL TO GOVERNMENT

RAILWAY BUILDING

PRE-CONTRACT

PREPARATION OF CONTRACT DOCUMENTS DESIGN STANDARDS MANUAL MATERIALS & WORKMANSHIP SPECIFICATION CONDITIONS OF CONTRACT BILLS OF QUANTITIES

APPOINTMENT OF CONSULTANTSTENDERINGCONTRACT AWARD

RAILWAY BUILDING

CONSTRUCTION

DESIGN MANAGEMENT CONSTRUCTION MANAGEMENTPROTECTION OF ADJACENT PROPERTIESTESTING & COMMISSIONINGAPPROVAL BY RAILWAY INSPECTORATEHANDOVER TO OPERATIONS

RAILWAY BUILDING

SYSTME IMPROVEMENT &

PROTECTION

IN SERVICE IMPROVEMENTS:

NEW INTEGRATED ENTRANCES ENTRANCE UPGRADE KIOSKS TOILETS & LIFTS FACILITIES FOR THE PHYSICALLY IMPAIRED RETROFITS - PLATFORM SIDE DOORS NEW SINGNALLING SYSTEM

CONDITION MONITORING ASSET MAINTENANCE & REPLACEMENT RAILWAY PROTECTION

RAILWAY BUILDING & MANAGEMENT

IN SERVICE

INTEGRATED ENTRANCE

IN SERVICEOLD ENTRANCE

NEW ENTRANCE

IN SERVICE

KIOSKS

IN SERVICE

TOILETS & LIFTS

IN SERVICE

CHAIRLIFT & TACTILE ROUTES

IN SERVICE

SIGNALLING

SOURCE - BOMBARDIER

IN SERVICE

RAILWAY PROTECTION

HKMTR &

HKPolyU

HKPU & XRL

HKPU & MTR

JOINT MASTER DEGREE COURSE

RAILWAY ENGINEERING

HKPU ALUMNI

VICTOR CHAN HIN FU

WILLIAM MILLER

TANG KA FAT

SAMSON MAK

LO CHAK YUEN

& MANY OTHERS

PROF LEE KANNE KUEN

HKPU ALUMNI

VICTOR SO HING WOH

FORMER PROPERTIES DIRECTOR

HKPU ALUMNI

THOMAS H K HO

FORMER PROPERTY DIRECTOR

HKPU ALUMNI

DAVID CHUEN CHOY LEUNG

CHIEF OF OPERATIONS ENGINEERING

HKPU ALUMNI

MIRANDA LEUNG CHAN CHE MING

GENERAL MANAGER – CORPORATE RELATIONS

A STORY

OUTSTANDING SUCCESS

• PROFITABLE

CONSOLIDATED P & L A/C

(YEAR ENDED 31 December 2011) HK$ M

• REVENUE 33,423

• PROFIT ON PROPERTY DEVELOPMENTS 4,900

• OPERATING PROFIT BEFORE DEPRECIATION 17,038

• NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS 14,716

AS AT END 2011:

PATRONAGE ( million)

Yearly 1,644

Daily 4.7

HONG KONG PEOPLE

ENGINEERS MTR STAFF

HAVE REASON TO BE PROUD

IN THE EYES of the

19 APRIL 2006

STORY OF THE HKMTR

STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY

STORY OF THE HKMTR

STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY

STORY OF 23 YEARS OF MY LIFE

This presentation is dedicated to :

All my friends

Especially those of the MTR

Mtr a success story 12.11.2012 v5

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