Carrying an average of 3.4 million passengers every weekday, the MTR is regarded as one of the world's leading railways for safety, reliability, customer service and cost efficiency.
The MTR Corporation was established in 1975 as the Mass Transit Railway Corporation with a mission to construct and operate, under prudent commercial principles, an urban metro system to help meet Hong Kong's public transport requirements. The sole shareholder was the Hong Kong Government. The Company was re-established as the MTR Corporation Limited in June 2000 after the Hong Kong Special Administrative Region Government sold 23% of its issued share capital to private investors in an Initial Public Offering. MTR Corporation shares were listed on the Stock Exchange of Hong Kong on 5 October 2000.
The Corporation marked another major milestone on 2 December 2007 when the operations of the other Government-owned rail operator, the Kowloon-Canton Railway Corporation, were merged into the MTR, heralding a new era in the Hong Kong railway development.
Other than bringing more efficient and competitively-priced services to local rail passengers, the merger brings new growth opportunities to the MTR Corporation's businesses in and outside of Hong Kong.
Today, MTR operates nine main commuter lines ¡V the Kwun Tong, Tsuen Wan, Island, Tung Chung, Tseung Kwan O, Disneyland Resort, East Rail, Ma On Shan and West Rail Lines and a Light Rail service in the Northwest New Territories. In addition, it provides the Airport Express to Hong Kong International Airport and intercity services to Beijing, Shanghai and Guangdong Province in the Mainland of China.
MTR Corporation is involved in a wide range of business activities in addition to its railway operations. These include the development of residential and commercial projects, property leasing, and revenue from advertising, telecommunication services and international consultancy services.
Through the successful rail and property development business model, the MTR Corporation forms joint ventures with property developers to plan and create fully integrated commercial and residential communities along the railway alignment. Property developments are built around stations, giving residents convenient access to public transport. This, in turn, stimulates patronage and enhances land values.
From its starting base in Hong Kong, the Corporation has expanded into the Mainland of China and undertaking a range of railway-related projects and consultancies internationally. The Corporation is involved in the building of the Beijing Metro Line 4 and Shenzhen Metro Line 4 and in the operating of the London Overground system. The scope of the Corporation's consultancy business has also widened to cover cities across Asia, Australia, the Middle East and Europe.
MTRC is a constituent of the Hang Seng Index, Hang Seng London Reference Index, MSCI Indices, FTSE All-World Hong Kong Index, FTSE4Good Global Index and Dow Jones Sustainability Index. In additional to the Hong Kong Stock Exchange, MTR shares are quoted on the London International Bulletin Board and can be traded in the U.S. as American Depositary Shares.
updated 3rd December, 2007
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