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HONG KONG MASS TRANSIT RAILWAY
A SUCCESS STORY
PRESENTED
BY
Ir Thomas S K LAICEng, MICE, MIStructE, MHKIE
Chairman HKIE UK CHAPTER
75th ANNIVERSARY OF THE HONG KONG POLYTECHNIC UNIVERSITY
2
BIRTH & GROWTH OF
HONG KONG MASS TRANSIT RAILWAY
UP TO DATE
BEAUTIFUL HONG KONG
3
4
HONG KONG
• LOCATED AT THE PEARL RIVER ESTUARY ON THE SOUTHERN COAST OF CHINA
VICTORIA HARBOUR
5
HARBOUR FRONT
6
August 2003 77
7
STAR FERRY
August 2003 66
CHALLENGING BIRTH
8
9
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
10
CULTURAL REVOLUTION
HONG KONG IN
CRISIS
11
CULTURAL REVOLUTION
HONG KONG IN
CRISIS
危 机• Danger Opportunity
PUBLIC LIGHT BUS12
PLB
PLB
13
PLB
• AVAILABLE - FREQUENT SERVICE
• CONVENIENT - PASSENGERS HOP ON AND OFF ANYWHERE ALONG ROUTE
• PREMIUM FOR SERVICE
• POPULAR WITH PASSENGERS
14
HONG KONG GOVERNMENT
•VIABILITY OF UNDERGROUND RAILWAY SYSTEM
•CONFIRMED BY CONSULTANT’S FEASIBILITY STUDY
•1975 - MASS TRANSIT PROVISIONAL AUTHORITY
•1976 - MASS TRANSIT RAILWAY CORPORATION
MTRC
15
MTRC
THE MASS TRANIST RAILWAY ORDINANCE
16
MTRC
• WHOLLY GOVERNMENT OWNED ENTERPRISE
17
MTRC
• 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
18
MTRC
HONG KONG GOVERNMENT PUTS IN INITIAL EQUITY (HK$ 800 M)
MTRC BORROWS REST IN OPEN MONEY MARKET
19
PREFERRED SYSTEM
INITIAL SYSTEM
LETTER OF INTENT SIGNED WITH JAPANESE CONSORTIUM FOR THE INITIAL SYSTEM
(20 km) AS A SINGLE DESIGN & BUILD CONTRACT
20
INITIAL SYSTEM
OIL CRISIS
JAPANESE CONSORTIUM WITHDREW
21
22
MODIFIED INITIAL SYSTEM
MIS (15.6 km)
25 CIVIL & 10 E&M
DESIGN AND BUILD PACKAGES
23
MIS
GOVERNMENT SET UP MASSTRANSIT ADVISER (MTA) TO:
• CO-ORDINATE BETWEEN MTRC & GOVERNMENT DEPARTMENTS
• FACILITATE TIMELY POLICY MAKING & ISSUE RESOLUTION
24
MIS
DIFFERENT LEVEL OF COMMITTEES & WORKING GROUPS:
• GOVERNMENT / MTR LIAISON COMMITTEE
• GOVERNMENT / MTR PUBLICITY COMMITTEE
• METRO PUBLIC RELATIONS POLICY GROUP
25
MIS
• 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)
26
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
27
MIS
IMPORTANCE OF PUBLIC RELATIONS
• CEREMONIES OF COMMENCEMENT
& COMPLETION OF WORKS
28
MIS
IMPORTANCE OF PUBLIC RELATIONS
PARTICIPANTS (STAKEHOLDERS) INCLUDE:
CORPORATION REPRESENTATIVESCONTRACTORSCONSULTANTSGOVERNMENT OFFICIALSLEGISLATORSDISTRICT COUNCILLORSLOCAL DIGNITARIES
29
MIS
IMPORTANCE OF PUBLIC RELATIONS
• TEAM BUILDING
• PUBLICISING PROGRESS OF WORKS
30
MIS
GROUNDBREAKING CEREMONY BY CHAIRMAN SIR NORMAN THOMPSON
AT KWUN TONG31
MIS
WORK STARTED
• NOVEMBER 1975
32
MIS
• FIRST CHAIRMAN – SIR NORMAN THOMPSON
DIRECT ACCESS TO THE GOVERNOR SIMPLE & CLEAR MESSAGES
• PROJECT MANAGER – HONG KONG & SHANGHAI BANK HQ BUILDING
33
MIS
FIRST M.D. – PROF TONY RIDLEY
M.D. – LONDON UNDERGROUND
MAJOR IMPROVEMENT TO THE SYSTEM
PROFESSOR – IMPERIAL COLLEGE LONDON
34
MIS
• GENERAL PUBLIC
– EXCITEMENT
– EXPECTATION
– DETERMINATION
35
MIS
• GENERAL PUBLIC
HIGH DEGREE OF TOLERENCE
&
CO-OPERATION
36
MIS
PROJECT MANAGEMENT APPROACH:
• QUICK DECISION-MAKING
• REGULAR MONITORING OF EFFECT OF CHANGES ON BUDGET & PROGRAMME
• APPROPRIATE DELEGATION OF AUTHORITY
• SHARE RISKS & BENEFITS WITH CONTRACTORS
37
MIS
• BASED ON PROVEN TECHNOLOGY
• PROJECT MOTTO:
IF IT IS ESSENTIAL,
GET ON WITH IT. IF IT IS DESIRABLE,
FORGET IT.
38
MIS
GOVERNMENT
COMMUNITY MTRC
UNITY IN PURPOSE
MIS
GROUND CONDITIONS
ALLUVIAL DEPOSITS
GRANITE (VARYING DEGREE OF DECOMPOSITION)
HARD ROCK
39
MIS
40
STATION WALL CONSTRUCTION
MIS
41
STATION CONSTRUCTION
MIS
42
INSITU HORSESHOE TUNNEL
MIS
43
PRECAST CONCRETE TUNNEL LINING
SGI TUNNEL LINING
44
MIS
NGAU TAU KOK STATION & VIADUCT
45
MIS
KOWLOON BAY DEPOT
46
MIS
ADMIRALTY STATION EXCAVATION
47
MIS
IMMERSED TUBE CASTING
48
MIS
MIS
49
IMT
50
MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO SHEK KIP MEI
– OPERATIONAL ON 1 OCTOBER 1979
51
MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO TSIM SHA TSUI
– OPERATIONAL ON 31 DECEMBER 1979
52
MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO CENTRAL
– OPENED BY PRINCESS ALEXANDRA
ON 12 FEBRUARY 1980
53
MIS
• FROM KWUN TONG TO CENTRAL
ON TIME AND WITHIN BUDGET
54
MIS
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
55
MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
56
MIS
• CLEAN
• QUIET
• EFFICIENT
• RELIABLE
• AIR-CONDITIONEDDAVID BARRACLOUGH
FORMER OPERATIONS DIRECTOR
57
MIS
SUCCESS
GROWTH
58
TSUEN WAN LINE
BUILDING UP THE COMPANY
59
ERIC BLACK
SECOND MD
60
TSUEN WAN LINE
• ENGINEER’S DESIGN
• CONTRACTOR’S ALTERNATIVE PROPOSALS CONSIDERED &
ADOPTED
TSUEN WAN DEPOT &
LUK YEUNG SUN CHUEN DEVELOPMENT61
TWL
LAI KING TO KWAI FONG CROSS-OVER
62
TWL
• SET UP STRONG IN-HOUSE PROFESSIONAL PROJECT MANAGEMENT TEAM
• HANDS-ON STYLE
63
TWL
• 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
64
TWL
• TSUEN WAN LINE– TSUEN WAN TO CENTRAL
– OPERATIONAL 10 May 1982 (AHEAD OF PROGRAMME)
65
TWL
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
66
ISL
67
ISL
• 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
68
ISL
MORE CHALLENGING TIME
69
70
ISL
• 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
71
MTR ARRIVAL & GROWTH OF MTR
COINCIDE WITH :
TRANSFORMATION OF HONG KONG
FROM REGIONAL CITY
TO INTERNATIONAL FINANCIAL CENTRE
72
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
OFFERED TO EXCHANGE SOVEREIGNTY FOR
ADMINSTRATION
73
MARGARET THATCHER
74
HONG KONG LEASE
OFFER REJECTED BY CHINA
75
HONG KONG LEASE
BUT AGREED TO:
• SET UP JOINT LIAISON COMMITTEE (JLC)
• CONTINUE NEGOTIATION
• MAINTAIN STABILITY & PROSPERITY OF HONG KONG
76
HONG KONG LEASE
• NEGOTIATION NOT GOING WELL
• UNCERTAINTY
77
HONG KONG LEASE
• JITTERY & GLOOMY
• INVESTMENTS PUT ON HOLD
• STOCK MARKET CRASH
• PROPERTY BUBBLE BURST
78
HONG KONG LEASE
HONG KONG DOLLAR PLUNGES
FROM AROUND HK$ 6 = US$ 1
TO
OVER HK$ 9 = US$ 1
79
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE
80
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE &
BABY’S POWDERED MILK
81
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
82
HONG KONG LEASE
• CALM THE CITY
• STOP PANIC
83
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
84
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
85
HONG KONG LEASE
•ENSHRINED IN
BASIC LAW
•LODGED WITH
UNITED NATIONS
86
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
• REMAINS TO THIS DAY
87
MTRC
• BORROWING IN US$
• REVENUE IN HK$
• ADVERSE IMPACT BY
HIGH INTEREST RATE (12%) DEVALUATION
88
MTRC
• 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
MTRC
SECURED CREDIT RATING FROM• MOODY• S&P
ROAD SHOW TO TAP INTERNATIONAL BOND MARKET• YANKEE BOND• SAMURAI BOND
89
90
MTRC
IN NO POSITION TO FINANCE NEW EXTENSIONS ON ITS OWN
EXECUTIVE COMMITTEE
91
EASTERN HARBOUR CROSSING
EASTERN HARBOUR CROSSING ENTRANCE
92
EHC
• 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
93
EHC
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 OPERATIONS DIRECTOR
94
EHC
OPENED ON 1 OCTOBER 1989
PRINCE CHARLES SPEAKING TO Ir THOMAS LAI
95
AFTER JOINT DECLARATION
• UNCERTAINTY REMOVED
• CONFIDENCE RETURNED
LIPPO CENTRE
96
NEW AIRPORT
CHECKERBOARD IN SIGHT
97
KAI TAK AIRPORT
STEADY AS SHE GOES
98
KAI TAK AIRPORT
DO YOUR WINDOW SHOPPING BEFORE YOU LAND
99
KAI TAK AIRPORT
SEE....I LAND IT ON THE ROOF
100
KAI TAK AIRPORT
HARD RIGHT TURN AND DIVE
101
KAI TAK AIRPORT
BUT LANDING ON THE RUNWAY...... IS NOT ALWAYS
EASY102
KAI TAK AIRPORT
SOMETIMES.... ENDED UP IN THE WATER
103
KAI TAK AIRPORT
104
AIRPORT CORE PROJECTS
RELOCATE AIRPORT FROM KAI TAK TO CHEK LAP KOK
105
AIRPORT CORE PROJECTS
• APPROVED BY BEIJING
& LONDON
106
AIRPORT CORE PROJECTS
• OBJECTIVES:
– TO STIMULATE ECONOMY– TO FACILITATE FUTURE GROWTH– TO ELIMINATE AVIATION HAZARD
– TO BE COMPLETED IN TIME FOR HANDOVER
107
ACP
• AIRPORT AT CHEK LAP KOK
• TSING MA BRIDGE
• LANTAU & AIRPORT RAILWAY
108
ACP
• KAP SHUI MUN BRIDGE
• TING KAU BRIDGE
• HIGHWAYS
• RECLAMATIONS
• THIRD CROSS HARBOUR ROAD TUNNEL (WESTERN HARBOUR CROSSING)
109
ACP
• HK$ 127 BILLION £ 10 BILLION
110
ACP
CHINA’S CONCERN:
• ROSE GARDEN PROJECT
• EMPTY TREASURY
• HIGH DEBT
111
ACP
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
112
ACP
ESSENTIAL TO HAVE CHINA’S AGREEMENT AND SUPPORT
TO ASSURE INVESTORS
WRANGLING OVER FINANCIAL DATADELAYED PROJECT START
HAMISH MATHERS
FORMER CHAIRMAN
113
ACP
JACK SO CHAK KWONG
FORMER CHAIRMAN & CEO
114
ACP AT TIME OF HANDOVER
ON 30 JUNE/1 JULY 1997
CHINESE PRESIDENT ARRIVED LAST BRITISH GOVERNOR LEFT BY PLANE AT THE NEW AIRPORT ON ROYAL YACHT BRITANNIA
JIANG JI MEN LORD PATTEN
•
115
ACP
PROJECT COMPLETED IN 1998
Ir DOUGLUS OAKERVEE
PROJECT DIRECTOR HKIAFORMER MTR PROJECT
MANAGER
HONG KONG INTERNATIONAL AIRPORT 116
WORLD CLASS
TSING MA BRIDGE(ROAD + RAIL)
117
118
LANTAU & AIRPORT LINE
119
LAL
AIRPORT EXPRESS LINE(AEL)
AIRPORT – HONG KONG
23 MINUTES JOURNEY
IN-TOWN-CHECK-IN
120
LAL
TUNG CHUNG LINE(ON SHARED TRACK WITH AEL)
TUNG CHUNG - HONG KONG
COMMUTER LINE
ALSO PROVIDES RELIEF
TO NATHAN ROAD CONGESTION
121
LAL
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)
122
ACP
EXTENSIVE APPLICATION OF
VALUE ENGINEERING
INTRODUCE PARTNERING
RUSSELL BLACK
FORMER PROJECTS DIRECTOR
NO MORE SLIDING SEATS
123
TUNG CHUNG LINE
AEL TRAIN
124
AIRPORT EXPRESS
• SPACIOUS SEATING
• PLEASANT AMBIENCE
• BUSINESS CLASS COMFORT
FROM PLANE, THROUGH TRAIN, TO HOTEL
125
LAL TCL
OPERATIONAL ON 22 JUNE 1998
AEL
OPERATIONAL ON 6 JULY 1998
126
LAL
HK$ B
PROJECT COST 35.1(INCLUDING CAPITALISED INTEREST)
FINANCED BY:
EQUITY 23.7DEBT 11.4
CONSOLIDATION
127
128
TSEUNG KWAN O LINE
129
TKL
• TSEUNG KWUN O LINE
– COMMUTER LINE
– FROM PO LAM TO NORTH POINT
– OPERATIONAL ON 17 AUGUST 2002
TKL
I st JULY – 1997
ASIAN FINANCIAL CRISIS
MAJOR REVIEW OF THE
PROJECT
130
131
TKL
INITIAL CAPITAL COST ESTIMATE HK$ B
INCL. CAPITALISED INTEREST 30.5
FINAL COST 16.0
HANG HAU STATION
TKL
132
NORTH POINT CAVERN
133
DISNEYLAND RESORT LINE
134
DISNEYLAND RESORT LINE
135
DRL
• DISNEYLAND RESORT LINE
– FROM SUNNY BAY TO DISNEYLAND
– FULLY AUTOMATIC OPERATION
– OPERATIONAL ON
12 SEPTEMBER 2005
136
ASIAWORLD-EXPO STATION
137
ASIAWORLD-EXPO STATION
138
ASIAWORLD-EXPO STATION
AIR STATION –
ASIAWORLD-EXPO
OPERATIONAL ON
20 DECEMBER 2005
139
NGONG PING 360
140
NGONG PING 360
141
NGONG PING 360
142
NGONG PING 360
143
NGONG PING 360
AIRPORT ISLAND STATION TUNG CHUNG TERMINAL
144
NGONG PING 360
• MATERIAL DELIVERY
– HELICOPTERS
– MULES
145
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
146
SUCCESS PROFILERATING
147
148
MTRC
PROJECT MANAGEMENT
RAILWAY OPERATION
FINANCIAL EXPERTISE
TRAINING & DEVELOPMENT
PROPERTY
AUTOMATIC FARE COLLECTION
149
MTRC
• INVEST HEAVILY IN STAFF TRAINING & DEVELOPMENT
• CORE VALUES :
CUSTOMER SERVICE
RESPECT FOR THE INDIVIDUAL
ON TIME AND WITHIN BUDGET
150
MTRC
PROVIDES PROFESSIONAL
TRAINING SERVICES TO OTHER RAILWAYS IN:
– MAINLAND CHINA
– SOUTHEAST ASIA
PHIILP GAFFNEY (3R/B) FORMER OPERATIONS DIRECTOR
LEN TURK (1L/F)FORMER LEGAL DIRECTOR & COMPANY SECRETARY
PATRICK MAULE (2L/F) FORMER PERSONNEL DIRECTOR
PROPERTY DEVELOPMENT& MANAGEMENT
MAJOR GOVERNMENT POLICY ISSUES
TRANSPORT HOUSING
151
152
PROPERTY DEVELOPMENT& MANAGEMENT
• GOVERNMENT ALLOCATE LAND AT FULL MARKET VALUE ALONG THE RAILWAY FOR DEVELOPMENT
153
PROPERTY DEVELOPMENT& MANAGEMENT
• MAJOR & REPUTABLE PROPERTY DEVELOPER AND MANAGER IN TOWN
• JOINT VENTURES
– RESIDENTIAL – RETAIL– OFFICES– HOTEL
154
PROPERTY DEVELOPMENT& MANAGEMENT
• SUBSTANTIAL CONTRIBUTION TOWARDS COST OF RAILWAY
• CAPTURED PASSENGERS
(FORMING PART OF 2.4 M DAILY RIDERSHIP)
VICTOR SO HING WOH THOMAS HO HANG KWONG
FORMER PROPERTY DIRECTORS
155
PROPERTY DEVELOPMENT& MANAGEMENT
PROCEEDS FROM DEVELOPMENTS HELP TO:
• KEEP FARES AT REASONABLE LEVEL
• MAINTAIN & EXTEND RAIL NETWORK
156
PROPERTY DEVELOPMENT & MANAGEMENT
TELFORD GARDEN
157
PROPERTY DEVELOPMENT & MANAGEMENT
PROPERTY DEVELOPMENT & MANAGEMENT
158
PARK VIEW
PROPERTY DEVELOPMENT & MANAGEMENT
159
CENTRAL STATION RETAIL
PROPERTY DEVELOPMENT & MANAGEMENT
160
TELFORD PLAZA
MARITIME SQUARE
161
PROPERTY DEVELOPMENT & MANAGEMENT
PROPERTY DEVELOPMENT & MANAGEMENT
162 ELEMENTS
2IFC
163
2 INTERNATIONAL FINANCE CENTRE
164
UNION SQUARE
ICC
165
INTERNATIONAL COMMERCE CENTRE
• 118 FLOORS
• 490 METRES HIGH
• THIRD TALLEST BUILDING IN THE
WORLD
166
ICC
ICC
GATEWAY TOWERS
167
• PROPERTY OPEARATIONS
& MANAGEMENT
CHINA – BEIJING
168
GINZA MALL
PROPERTY DEVELOPMENT & MANAGEMENT
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
169
170
AUTOMATIC FARE COLLECTION
• ELECTRO-MAGNETIC CARD
• STORED VALUE CARD
• CONTACTLESS SMART CARD
ROB NOBLE FORMER MARKETING & PLANNINGDIRECTOR
171
AUTOMATIC FARE COLLECTION
ELECTRO-MAGNETIC CARD
• PLASTIC• RE-USABLE• NO LITTER• ISSUED BY MACHINE / HAND• FIXED VALUE• ELECTRO-MAGNETIC• SINGLE JOURNEY
172
MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
• NO TICKET FLICKING
173
AUTOMATIC FARE COLLECTION
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
174
AFC
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
175
OCTOPUS CONTACTLESS SMART CARD
• RELIABLE TICKETING
• LABOUR SAVING
• DATA FOR:
OPERATIONAL PLANNIN INCLUDING PRICING
176
OCTOPUS CONTACTLESS SMART CARD
• FORERUNNER OF:
• EZ-LINK – SINGAPORE
• OYSTER CARD – LONDON
• EASYCARD - TAIPEI
177
OCTOPUS CONTACTLESS SMART CARD
OTHER USES:
PUBLIC TRANSPORTSCAR PARKSACCESS CONTROL TO BUILDINGSCONFIRMATION OF STUDENTS’
ATTENDANCE AT SCHOOL
OCTOPUS CONTACTLESS SMART CARD
AS AT END OF JUNE 2012
• 12.1 MILLION DAILY TRANSACTIONS
• HK$ 123.9 MILLION PER DAY
• ADOPTED BY OVER 5000 SERVICE PROVIDERS
178
179
MTR CORPORATION
AN OUTSTANDINGLY SUCCESSFUL
ENTERPRISE
180
MTR CORPORATION LTD
LISTED ON THE HONG KONG EXCHANGE
ON 5 OCTOBER 2000
MERGER WITH KCRC
181
182
MERGER
• HONG KONG GOVERNMENT ANNOUNCED MERGER PROPOSAL BETWEEN MTRCL & KCRC ON 11 APRIL 2006
183
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
184
MERGER
KCRC
• OPERATES:– EAST RAIL– WEST RAIL– LIGHT RAIL– INTERCITY TO
GUANGZHOU– FREIGHT TO
INTERIOR OF MAINLAND CHINA
185
MERGER
KCRC
• PROPERTY DEVELOPMENT
&
MANAGEMENT
186
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
187
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
188
MERGER
MOU PROVIDES FOR
• JOB SECURITY FOR ALL FRONTLINE STAFF
189
MERGER
DEAL TERMS
• PROVIDE A BALANCED PACKAGE FAIR TO ALL STAKEHOLDERS
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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
191
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
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MERGER
BENEFITS
• SYNERGY• ECONOMIES OF SCALE• COST EFFICIENCY• INTEGRATED RAIL SYSTEM
193
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194
ONE COMPANY ONE TEAM
195
MERGED
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
196
MERGED
ONE COMPANY ONE TEAM
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STAFF INTEGRATION WILLIAM CHAN FORMER HUMAN RESOURCES DIRECTOR
MTR CORPORATION LTD
GROWTH MOMENTUM
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MTRCL
EXPANSION
NEW VISION :
• TO BE A WORLD CLASS ENTERPRISE • GROWING IN HONG KONG & BEYOND• FOCUSING ON RAIL, PROPERTY &
RELATED BUSINESS
200
MTRCL
• 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
201
MTRCL
• 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
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MACAO BUSINESS
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MACAO GOVERNMENT
MOU SIGNED FOR LIGHT RAIL PROJECT CONSULTANCY
DUBAI
204
DUBAI
205
METRO & AIRPORT LINES
DUBAI
CONSULTANCY
TO REVIEW DESIGN PROPOSALS IN RESPECT OF :
OPERATION &
MAINTENANCE
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VIADUCT CONSTRUCTION
DUBAI
CONSULTANCY
MOU SIGNEDTO ASSIST TO DEVELOP A MASS URBAN TRANSPORT SYSTEM, PROVIDING HIGH QUALITY TRANSPORT SERVICES
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INDIA
Delhi Airport Metro Express Line (AMEL)
• Major engineering & project management contract
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209
UK BUSINESS
BIDS
210
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
211211211
UK BUSINESS
LOROL MTR/DEUTSCHE BAHN
(CONTROLLED BY ARRIVA UK TRAINS)
ACTION ON DAY ONE
• OYSTER TICKETING SYSTEM
• NEW TICKETING MACHINES
• STATIONS GATED
• IMPROVEMENT IN:
1. SERVICE OPERATION2. PUNCTUALITY3. SAFETY4. SECURITY
• TICKETLESS TRAVEL DOWN
• REVENUE UP212212
UK BUSINESS
213213213
UK BUSINESS
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
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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
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UK BUSINESS
SHORT-LISTED TO BID FOR:
ESSEX THAMESIDE FRANCHISE
(LONDON FENCHURCH STREET – TILBURY- SOUTHEND)
SEPTEMBER 2012
THAMESLINK FRANCHISE
(BEDFORD – GATWICK - BRIGHTON)
FEBRUARY 2013
216
EUROPE BUSINESS
STOCKHOLM UNDERGROUND
TOOK OVER OPERATION 2 NOVEMBER 2009
(FOR 8 YEARS MINIMUM)
217
AUSTRALIA BUSINESS
METRO TRAINS MELBOURNE
TOOK OVER OPERATION ON 30 NOVEMBER 2009
(FOR INITIAL PERIOD OF 8 YEARS)
218
AUSTRALIA BUSINESS
UNITED GROUP LTD.
SUBCONTRACT TO SUPPORT ITS ROLLING STOCK MAINTENANCE WORKS IN NEW SOUTH WALES
219
220
CHINA BUSINESS
221
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
222
CHINA BUSINESS
BEIJING LINE 4– INITIALLED IN FEBRUARY 2005
– COMPANY FORMED IN JANUARY 2006
– AGREEMENT SIGNED ON 12 APRIL 2006
223
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
224
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
225
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
226
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
227
HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT
• 2007-2008 POLICY ADDRESS ANNOUNCES TEN MAJOR INFRASTRUCTURE PROJECTS
• ANNUAL EXPENDITURE OF
HK$ 50 BILLION (£ 4 BILLION)
IN COMING YEARS
228
HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT
229
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)
230
231
RAILWAY EXTENSIONS
RAILWAY EXTENSIONS
232XRL
RAILWAY EXTENSIONS
233WIL
RAILWAY EXTENSIONS
234KTE
RAILWAY EXTENSIONS
235
JAY WALDER CEO TC CHIEW PROJECTS DIRECTOR
SCL
RAILWAY EXTENSIONS
236SIL(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
237
RAILWAY EXTENSIONS
238RAILWAY DEVELOPMENT STRATEGY 2000
(UPDATE)
RAILWAY BUILDING
239
FEASIBILITY
IDENTIFY TRANSPORT NEEDSFEASIBILITY STUDYPROPOSAL TO GOVERNMENTROUTE PROTECTION
240
RAILWAY BUILDING
PRE-CONTRACT
PREPARATION OF CONTRACT DOCUMENTS DESIGN STANDARDS MANUAL MATERIALS & WORKMANSHIP SPECIFICATION CONDITIONS OF CONTRACT BILLS OF QUANTITIES
APPOINTMENT OF CONSULTANTSTENDERINGCONTRACT AWARD
241
RAILWAY BUILDING
CONSTRUCTION
DESIGN MANAGEMENT CONSTRUCTION MANAGEMENTPROTECTION OF ADJACENT PROPERTIESTESTING & COMMISSIONINGAPPROVAL BY RAILWAY INSPECTORATEHANDOVER TO OPERATIONS
242
RAILWAY BUILDING
SYSTME IMPROVEMENT &
PROTECTION
243
244
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
245
IN SERVICEOLD ENTRANCE
246
NEW ENTRANCE
IN SERVICE
KIOSKS
247
IN SERVICE
TOILETS & LIFTS
248
IN SERVICE
CHAIRLIFT & TACTILE ROUTES
249
IN SERVICE
PSD
250
IN SERVICE
SIGNALLING
SOURCE - BOMBARDIER
IN SERVICE
RAILWAY PROTECTION
252
253
MTRCL
A STORY
OF
OUTSTANDING SUCCESS
254
MTRCL
• PROFITABLE
MTRCL
255
MTRCL
256
257
MTRCL
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
258
MTRCL
AS AT END 2011:
PATRONAGE ( million)
Yearly 1,644
Daily 4.7
259
MTRCL
HONG KONG PEOPLE
ENGINEERS MTR STAFF
HAVE REASON TO BE PROUD
260
IN THE EYES of the
BBC
19 APRIL 2006
RECAP
261
STORY OF THE HKMTR
262
STORY OF THE HKMTR
STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY
263
STORY OF THE HKMTR
STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY
STORY OF 23 YEARS OF MY LIFE
264
This presentation is dedicated to :
All my friends
Especially those of the MTR
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