MTR Corporation facts for kids
 |
|
Headquarters in Kowloon Bay, Hong Kong
|
|
|
Formerly
|
Mass Transit Railway Corporation (1972–2000) |
|---|---|
| Public; Government-owned corporation | |
| Traded as |
|
| Industry | |
| Founded | 22 September 1972 |
| Headquarters |
33 Wai Yip Street, Kowloon Bay, New Kowloon, Hong Kong
|
|
Area served
|
Worldwide, including: |
|
Key people
|
|
| Revenue | HK$55.4 billion (December 2017) |
| HK$10.5 billion (December 2017) | |
| Total assets | HK$263.768 billion (December 2017) |
| Owner |
|
|
Number of employees
|
28,053 (June 2017) |
MTR Corporation Limited is a big company in Hong Kong. It runs the Mass Transit Railway, which is the most popular way to travel there. MTR is also involved in building properties, especially near its train stations. This company also helps run train systems in other parts of the world, like London, Stockholm, Beijing, Sydney, and Melbourne.
MTR's Journey: A Look at Its History
The Mass Transit Railway Corporation was started on 22 September 1972. Its main job was to build and run a railway system for Hong Kong. This system was needed to help people get around the city easily.
On 30 June 2000, the company changed its name to MTR Corporation Limited. Its main goal stayed the same: to operate the railway system. Soon after, on 5 October 2000, MTR shares were sold to the public on the Hong Kong Stock Exchange. Even though people could buy shares, the Hong Kong government still owns most of the company.
In September 2000, the Hong Kong government decided to sell some parts of MTR to private investors. This is called partial privatisation. They offered many shares, and people were very interested in buying them.
When MTR first sold its shares, the company was already making a profit. It has continued to be one of the few public transport systems in the world that makes money.
Joining Forces: The MTR–KCR Merger
For a while, people talked about combining MTR with another government-owned railway company, the Kowloon-Canton Railway Corporation (KCRC). The idea was to make Hong Kong's transport system even better. MTR liked the idea, but KCRC was not so sure.
In April 2006, the government announced how the merger would work. KCRC would let MTR operate its railway system for 50 years. MTR would pay KCRC a large amount of money upfront, plus yearly payments. MTR also bought some of KCRC's property businesses.
On 2 December 2007, the merger officially happened. MTR Corporation Limited kept its English name. However, its Chinese name changed to "Hong Kong Railway Corporation Limited." The KCRC no longer runs trains; it is now a holding company. This merger also changed the railway system's Chinese name from "Subway" to "Hong Kong Railway."
After the merger, many passengers benefited from lower fares. For example, elderly Octopus card holders could travel anywhere on the MTR network for a special low fare of $2.
Who Leads MTR?
MTR has important leaders who guide the company.
- Chairman: Rex Auyeung (since July 2019)
- Chief Executive: Jacob Kam (since April 2019)
MTR Around the World
MTR operates railway systems and manages properties in many places.
MTR in Hong Kong
In Hong Kong, MTR runs the main railway system. But it also makes a lot of money from developing properties near its stations. It also earns money from things like shops, advertising, and ATMs inside its stations.
Train Services in Hong Kong
The Mass Transit Railway (MTR) system in Hong Kong first opened in 1979. Today, it has over 221 kilometers of tracks and 159 stations. This includes 91 railway stations and 68 light rail stops. There are also plans for new railway projects in the future.
-
Map of the MTR network
-
A station on the MTR network (Long Ping station)
-
An Airport Express Train
-
MTR's high-speed rail service, the Vibrant Express, at Guangzhou South railway station
.jpg)
Property Management in Hong Kong
Property development is a big part of MTR's business and helps it make most of its profits. MTR builds homes, offices, shops, and hotels on land near its railway lines. For example, the International Commerce Centre, one of Hong Kong's tallest buildings, is part of a large MTR property development called Union Square.
Shopping Centres by MTR
MTR Corporation has built many large shopping centres near its stations. These malls are popular places for people to shop, eat, and relax.
- PopCorn is a mall located at Tseung Kwan O station. It connects to nearby homes and hotels.
- Maritime Square is at Tsing Yi station. It has a fun nautical theme and includes supermarkets, shops, a cinema, and restaurants.
- Other MTR shopping centres include CityLink, Elements, Telford Plaza, and the LOHAS.
As of 2023, MTR Corporation owns 13 shopping malls across Hong Kong.
MTR in the United Kingdom
MTR helps run train services in the UK.
Current UK Operations
- Elizabeth line: Since May 2015, MTR has been involved in operating the Elizabeth line in London. This line connects different parts of the city.
- South Western Railway: Since August 2017, MTR has a share in South Western Railway. This company operates trains in the southwest of England.
Past UK Operations
- London Overground: From 2007 to 2016, MTR was part of a company that operated the London Overground train network.
MTR in Sweden
MTR Nordic AB is a part of MTR that works in Sweden. It runs public transport services through several smaller companies.
- MTR Tunnelbanan AB operates the Stockholm Metro. MTR started running the metro in November 2009 and will continue until at least November 2023.
- MTR Tech AB takes care of maintaining the trains used on the Stockholm Metro.
- MTR Express (Sweden) AB runs long-distance trains called MTRX between Stockholm and Gothenburg. These trains started running in March 2015.
- MTR Pendeltågen AB used to operate the Stockholm commuter rail network from December 2016 until March 2024.
MTR in Australia
MTR also helps run train services in Australia.
- Melbourne: Since November 2009, MTR has been part of the Metro Trains Melbourne group. This group operates the suburban railway network in Melbourne.
- Sydney: In June 2014, MTR joined a group called Northwest Rapid Transit. This group operates the Sydney Metro Northwest line, which opened in May 2019.
MTR in Mainland China
 |
|
| Public company | |
| Industry | Transport, property |
| Founded | Beijing (16 January 2006) Hangzhou (6 September 2012) Shenzhen (1 July 2010) |
| Headquarters |
(Beijing, Hangzhou, & Shenzhen)
,
China
|
|
Area served
|
Beijing, Hangzhou, Shenzhen |
MTR has partnerships in several major cities in Mainland China.
Beijing
MTR works with local companies to build and operate several lines of the Beijing Subway. These include Line 4, Daxing line, Line 14, Line 16, and Line 17. MTR will operate these lines for 30 years.
Hangzhou
In 2012, MTR formed a partnership to operate Line 1 of the Hangzhou Metro for 28 years. MTR also operates Line 5 of the Hangzhou Metro.
Shenzhen
MTR helped build and now operates Line 4 of the Shenzhen Metro. This line has been running since 2010. MTR will also operate Line 13 of the Shenzhen Metro once it is built.
MTR in Macau
|
|
| Public company | |
| Industry | Transport |
| Founded | 11 April 2018 |
| Headquarters |
Taipa
,
Macau
|
|
Area served
|
Taipa |
MTR Railway Operations (Macau) Company Limited is a part of MTR that operates the Taipa Line of the Macau Light Rapid Transit (MLRT). This line opened on 10 December 2019. MTR will operate and maintain this line for 80 months.
