MTR Corporation Limited facts for kids
On 5 October 2000 the operator of the MTR network, MTR Corporation Limited, became Hong Kong's first privatised rail and metro company, which marked the start of the Hong Kong government's planned initiative to wind down its interests in various public utilities. Prior to its listing on the Hong Kong Stock Exchange, the Mass Transit Railway Coporation was wholly owned by the Hong Kong Government. The offering involved the sale of around one billion shares, and the company now has the largest shareholder base of any company listed in Hong Kong. In June, 2001, MTR Corporation Limited was transferred to Hang Seng Index.
MTR Corporation Limited has always been reliant on developing properties next to railway stations for its profits (although the rail lines are profitable themselves); many recently built stations are incorporated into large housing estates or shopping complexes. Examples of this type of construction can be seen at Tsing Yi station, which is built next to the Maritime Square shopping centre, and directly underneath the Tierra Verde housing estate.
On April 11, 2006, MTR Corporation Limited signed a non-binding Memorandum of Understanding with the Hong Kong Government, the owner of Kowloon-Canton Railway Corporation (KCRC), to merge the operation of the two railway networks of Hong Kong. If eventually approved, MTR Corporation Limited will take over the operation of the KCR network and combine the fare system of the two networks.
- MTR Properties and MTR Property Management
- Documentary MTR Underground Iron - The Building of a Railway on YouTube
Images for kids
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Ticket gates at key interchange stations have been removed one year after the merger
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Station (Long Ping station)
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An Airport Express Train
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High-speed rail service by MTR launched on 23 September 2018. The image shows an MTR Vibrant Express train at Guangzhou South railway station
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