mtr a success story (staff)
DESCRIPTION
DEVELOPMENT OF THE HK MTR.TRANSCRIPT
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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
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BIRTH & GROWTH OF
HONG KONG MASS TRANSIT RAILWAY
UP TO DATE
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BEAUTIFUL HONG KONG
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HONG KONG
• LOCATED AT THE PEARL RIVER ESTUARY ON THE SOUTHERN COAST OF CHINA
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VICTORIA HARBOUR
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HARBOUR FRONT
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August 2003 77
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STAR FERRY
August 2003 66
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CHALLENGING BIRTH
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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
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CULTURAL REVOLUTION
HONG KONG IN
CRISIS
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CULTURAL REVOLUTION
HONG KONG IN
CRISIS
危 机• Danger Opportunity
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PUBLIC LIGHT BUS12
PLB
PLB
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PLB
• AVAILABLE - FREQUENT SERVICE
• CONVENIENT - PASSENGERS HOP ON AND OFF ANYWHERE ALONG ROUTE
• PREMIUM FOR SERVICE
• POPULAR WITH PASSENGERS
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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
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MTRC
THE MASS TRANIST RAILWAY ORDINANCE
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MTRC
• WHOLLY GOVERNMENT OWNED ENTERPRISE
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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
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MTRC
HONG KONG GOVERNMENT PUTS IN INITIAL EQUITY (HK$ 800 M)
MTRC BORROWS REST IN OPEN MONEY MARKET
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PREFERRED SYSTEM
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INITIAL SYSTEM
LETTER OF INTENT SIGNED WITH JAPANESE CONSORTIUM FOR THE INITIAL SYSTEM
(20 km) AS A SINGLE DESIGN & BUILD CONTRACT
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INITIAL SYSTEM
OIL CRISIS
JAPANESE CONSORTIUM WITHDREW
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MODIFIED INITIAL SYSTEM
MIS (15.6 km)
25 CIVIL & 10 E&M
DESIGN AND BUILD PACKAGES
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MIS
GOVERNMENT SET UP MASSTRANSIT ADVISER (MTA) TO:
• CO-ORDINATE BETWEEN MTRC & GOVERNMENT DEPARTMENTS
• FACILITATE TIMELY POLICY MAKING & ISSUE RESOLUTION
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MIS
DIFFERENT LEVEL OF COMMITTEES & WORKING GROUPS:
• GOVERNMENT / MTR LIAISON COMMITTEE
• GOVERNMENT / MTR PUBLICITY COMMITTEE
• METRO PUBLIC RELATIONS POLICY GROUP
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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)
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INSPECTORATE OF RAILWAY (UK)
• APPOINTED BY GOVERNMENT AS ADVISER ON RAILWAY SAFETY
• PROVIDES INPUT DURING DESIGN
• INSPECTS RAILWAY SYSTEM
• RECOMMENDS OPENING
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IMPORTANCE OF PUBLIC RELATIONS
• OBSERVATION WINDOWS ON HOARDINGS
• GROWING FOR YOU
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MIS
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IMPORTANCE OF PUBLIC RELATIONS
• CEREMONIES OF COMMENCEMENT
& COMPLETION OF WORKS
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MIS
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IMPORTANCE OF PUBLIC RELATIONS
PARTICIPANTS (STAKEHOLDERS) INCLUDE:
CORPORATION REPRESENTATIVESCONTRACTORSCONSULTANTSGOVERNMENT OFFICIALSLEGISLATORSDISTRICT COUNCILLORSLOCAL DIGNITARIES
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MIS
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IMPORTANCE OF PUBLIC RELATIONS
• TEAM BUILDING
• PUBLICISING PROGRESS OF WORKS
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MIS
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GROUNDBREAKING CEREMONY BY CHAIRMAN SIR NORMAN THOMPSON
AT KWUN TONG31
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WORK STARTED
• NOVEMBER 1975
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MIS
• FIRST CHAIRMAN – SIR NORMAN THOMPSON
DIRECT ACCESS TO THE GOVERNOR SIMPLE & CLEAR MESSAGES
• PROJECT MANAGER – HONG KONG & SHANGHAI BANK HQ BUILDING
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MIS
FIRST M.D. – PROF TONY RIDLEY
M.D. – LONDON UNDERGROUND
MAJOR IMPROVEMENT TO THE SYSTEM
PROFESSOR – IMPERIAL COLLEGE LONDON
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MIS
• GENERAL PUBLIC
– EXCITEMENT
– EXPECTATION
– DETERMINATION
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MIS
• GENERAL PUBLIC
HIGH DEGREE OF TOLERENCE
&
CO-OPERATION
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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
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MIS
• BASED ON PROVEN TECHNOLOGY
• PROJECT MOTTO:
IF IT IS ESSENTIAL,
GET ON WITH IT. IF IT IS DESIRABLE,
FORGET IT.
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MIS
GOVERNMENT
COMMUNITY MTRC
UNITY IN PURPOSE
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MIS
GROUND CONDITIONS
ALLUVIAL DEPOSITS
GRANITE (VARYING DEGREE OF DECOMPOSITION)
HARD ROCK
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MIS
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STATION WALL CONSTRUCTION
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MIS
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STATION CONSTRUCTION
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MIS
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INSITU HORSESHOE TUNNEL
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MIS
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PRECAST CONCRETE TUNNEL LINING
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SGI TUNNEL LINING
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MIS
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NGAU TAU KOK STATION & VIADUCT
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MIS
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KOWLOON BAY DEPOT
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MIS
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ADMIRALTY STATION EXCAVATION
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MIS
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IMMERSED TUBE CASTING
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MIS
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MIS
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IMT
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MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO SHEK KIP MEI
– OPERATIONAL ON 1 OCTOBER 1979
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MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO TSIM SHA TSUI
– OPERATIONAL ON 31 DECEMBER 1979
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MIS
• FROM KWUN TONG TO CENTRAL KWUN TONG TO CENTRAL
– OPENED BY PRINCESS ALEXANDRA
ON 12 FEBRUARY 1980
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MIS
• FROM KWUN TONG TO CENTRAL
ON TIME AND WITHIN BUDGET
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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
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MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
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MIS
• CLEAN
• QUIET
• EFFICIENT
• RELIABLE
• AIR-CONDITIONEDDAVID BARRACLOUGH
FORMER OPERATIONS DIRECTOR
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MIS
SUCCESS
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GROWTH
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TSUEN WAN LINE
BUILDING UP THE COMPANY
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ERIC BLACK
SECOND MD
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TSUEN WAN LINE
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• ENGINEER’S DESIGN
• CONTRACTOR’S ALTERNATIVE PROPOSALS CONSIDERED &
ADOPTED
TSUEN WAN DEPOT &
LUK YEUNG SUN CHUEN DEVELOPMENT61
TWL
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LAI KING TO KWAI FONG CROSS-OVER
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TWL
• SET UP STRONG IN-HOUSE PROFESSIONAL PROJECT MANAGEMENT TEAM
• HANDS-ON STYLE
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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
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TWL
• TSUEN WAN LINE– TSUEN WAN TO CENTRAL
– OPERATIONAL 10 May 1982 (AHEAD OF PROGRAMME)
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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
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ISL
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ISL
• ISLAND LINE
– CHAI WAN TO ADMIRALTY
31 MAY 1985
– CHAI WAN TO SHEUNG WAN
23 MAY 1986
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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
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ISL
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MORE CHALLENGING TIME
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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
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MTR ARRIVAL & GROWTH OF MTR
COINCIDE WITH :
TRANSFORMATION OF HONG KONG
FROM REGIONAL CITY
TO INTERNATIONAL FINANCIAL CENTRE
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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
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HONG KONG LEASE
BRITISH PRIME MINISTER VISITED BEIJING
OFFERED TO EXCHANGE SOVEREIGNTY FOR
ADMINSTRATION
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MARGARET THATCHER
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HONG KONG LEASE
OFFER REJECTED BY CHINA
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HONG KONG LEASE
BUT AGREED TO:
• SET UP JOINT LIAISON COMMITTEE (JLC)
• CONTINUE NEGOTIATION
• MAINTAIN STABILITY & PROSPERITY OF HONG KONG
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HONG KONG LEASE
• NEGOTIATION NOT GOING WELL
• UNCERTAINTY
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HONG KONG LEASE
• JITTERY & GLOOMY
• INVESTMENTS PUT ON HOLD
• STOCK MARKET CRASH
• PROPERTY BUBBLE BURST
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78
HONG KONG LEASE
HONG KONG DOLLAR PLUNGES
FROM AROUND HK$ 6 = US$ 1
TO
OVER HK$ 9 = US$ 1
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79
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE
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80
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE &
BABY’S POWDERED MILK
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81
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
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82
HONG KONG LEASE
• CALM THE CITY
• STOP PANIC
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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
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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
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85
HONG KONG LEASE
•ENSHRINED IN
BASIC LAW
•LODGED WITH
UNITED NATIONS
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86
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
• REMAINS TO THIS DAY
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87
MTRC
• BORROWING IN US$
• REVENUE IN HK$
• ADVERSE IMPACT BY
HIGH INTEREST RATE (12%) DEVALUATION
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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
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MTRC
SECURED CREDIT RATING FROM• MOODY• S&P
ROAD SHOW TO TAP INTERNATIONAL BOND MARKET• YANKEE BOND• SAMURAI BOND
89
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90
MTRC
IN NO POSITION TO FINANCE NEW EXTENSIONS ON ITS OWN
EXECUTIVE COMMITTEE
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91
EASTERN HARBOUR CROSSING
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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
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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
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94
EHC
OPENED ON 1 OCTOBER 1989
PRINCE CHARLES SPEAKING TO Ir THOMAS LAI
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95
AFTER JOINT DECLARATION
• UNCERTAINTY REMOVED
• CONFIDENCE RETURNED
LIPPO CENTRE
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96
NEW AIRPORT
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CHECKERBOARD IN SIGHT
97
KAI TAK AIRPORT
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STEADY AS SHE GOES
98
KAI TAK AIRPORT
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DO YOUR WINDOW SHOPPING BEFORE YOU LAND
99
KAI TAK AIRPORT
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SEE....I LAND IT ON THE ROOF
100
KAI TAK AIRPORT
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HARD RIGHT TURN AND DIVE
101
KAI TAK AIRPORT
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BUT LANDING ON THE RUNWAY...... IS NOT ALWAYS
EASY102
KAI TAK AIRPORT
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SOMETIMES.... ENDED UP IN THE WATER
103
KAI TAK AIRPORT
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104
AIRPORT CORE PROJECTS
RELOCATE AIRPORT FROM KAI TAK TO CHEK LAP KOK
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105
AIRPORT CORE PROJECTS
• APPROVED BY BEIJING
& LONDON
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106
AIRPORT CORE PROJECTS
• OBJECTIVES:
– TO STIMULATE ECONOMY– TO FACILITATE FUTURE GROWTH– TO ELIMINATE AVIATION HAZARD
– TO BE COMPLETED IN TIME FOR HANDOVER
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107
ACP
• AIRPORT AT CHEK LAP KOK
• TSING MA BRIDGE
• LANTAU & AIRPORT RAILWAY
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108
ACP
• KAP SHUI MUN BRIDGE
• TING KAU BRIDGE
• HIGHWAYS
• RECLAMATIONS
• THIRD CROSS HARBOUR ROAD TUNNEL (WESTERN HARBOUR CROSSING)
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109
ACP
• HK$ 127 BILLION £ 10 BILLION
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110
ACP
CHINA’S CONCERN:
• ROSE GARDEN PROJECT
• EMPTY TREASURY
• HIGH DEBT
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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
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112
ACP
ESSENTIAL TO HAVE CHINA’S AGREEMENT AND SUPPORT
TO ASSURE INVESTORS
WRANGLING OVER FINANCIAL DATADELAYED PROJECT START
HAMISH MATHERS
FORMER CHAIRMAN
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113
ACP
JACK SO CHAK KWONG
FORMER CHAIRMAN & CEO
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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
•
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115
ACP
PROJECT COMPLETED IN 1998
Ir DOUGLUS OAKERVEE
PROJECT DIRECTOR HKIAFORMER MTR PROJECT
MANAGER
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HONG KONG INTERNATIONAL AIRPORT 116
WORLD CLASS
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TSING MA BRIDGE(ROAD + RAIL)
117
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118
LANTAU & AIRPORT LINE
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119
LAL
AIRPORT EXPRESS LINE(AEL)
AIRPORT – HONG KONG
23 MINUTES JOURNEY
IN-TOWN-CHECK-IN
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120
LAL
TUNG CHUNG LINE(ON SHARED TRACK WITH AEL)
TUNG CHUNG - HONG KONG
COMMUTER LINE
ALSO PROVIDES RELIEF
TO NATHAN ROAD CONGESTION
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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)
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122
ACP
EXTENSIVE APPLICATION OF
VALUE ENGINEERING
INTRODUCE PARTNERING
RUSSELL BLACK
FORMER PROJECTS DIRECTOR
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NO MORE SLIDING SEATS
123
TUNG CHUNG LINE
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AEL TRAIN
124
AIRPORT EXPRESS
• SPACIOUS SEATING
• PLEASANT AMBIENCE
• BUSINESS CLASS COMFORT
FROM PLANE, THROUGH TRAIN, TO HOTEL
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125
LAL TCL
OPERATIONAL ON 22 JUNE 1998
AEL
OPERATIONAL ON 6 JULY 1998
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126
LAL
HK$ B
PROJECT COST 35.1(INCLUDING CAPITALISED INTEREST)
FINANCED BY:
EQUITY 23.7DEBT 11.4
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CONSOLIDATION
127
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128
TSEUNG KWAN O LINE
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129
TKL
• TSEUNG KWUN O LINE
– COMMUTER LINE
– FROM PO LAM TO NORTH POINT
– OPERATIONAL ON 17 AUGUST 2002
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TKL
I st JULY – 1997
ASIAN FINANCIAL CRISIS
MAJOR REVIEW OF THE
PROJECT
130
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131
TKL
INITIAL CAPITAL COST ESTIMATE HK$ B
INCL. CAPITALISED INTEREST 30.5
FINAL COST 16.0
HANG HAU STATION
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TKL
132
NORTH POINT CAVERN
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133
DISNEYLAND RESORT LINE
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134
DISNEYLAND RESORT LINE
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135
DRL
• DISNEYLAND RESORT LINE
– FROM SUNNY BAY TO DISNEYLAND
– FULLY AUTOMATIC OPERATION
– OPERATIONAL ON
12 SEPTEMBER 2005
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136
ASIAWORLD-EXPO STATION
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137
ASIAWORLD-EXPO STATION
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138
ASIAWORLD-EXPO STATION
AIR STATION –
ASIAWORLD-EXPO
OPERATIONAL ON
20 DECEMBER 2005
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139
NGONG PING 360
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140
NGONG PING 360
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141
NGONG PING 360
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142
NGONG PING 360
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143
NGONG PING 360
AIRPORT ISLAND STATION TUNG CHUNG TERMINAL
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144
NGONG PING 360
• MATERIAL DELIVERY
– HELICOPTERS
– MULES
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145
NGONG PING 360
SCHEDULED OPENING 24 JUNE 2006
OPERATIONAL 18 SEPT 2006
OFFICIAL OPENING 9 NOV 2006
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NGONG PING 360
OPERATION SUSPENDED 11 JUNE 2007
OPERATION RESUMED 31 DEC 2007
SUBSIDIARY COMPANY SET UP TO
MANAGE & OPERATE THE SYSTEM
146
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SUCCESS PROFILERATING
147
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148
MTRC
PROJECT MANAGEMENT
RAILWAY OPERATION
FINANCIAL EXPERTISE
TRAINING & DEVELOPMENT
PROPERTY
AUTOMATIC FARE COLLECTION
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149
MTRC
• INVEST HEAVILY IN STAFF TRAINING & DEVELOPMENT
• CORE VALUES :
CUSTOMER SERVICE
RESPECT FOR THE INDIVIDUAL
ON TIME AND WITHIN BUDGET
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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
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PROPERTY DEVELOPMENT& MANAGEMENT
MAJOR GOVERNMENT POLICY ISSUES
TRANSPORT HOUSING
151
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152
PROPERTY DEVELOPMENT& MANAGEMENT
• GOVERNMENT ALLOCATE LAND AT FULL MARKET VALUE ALONG THE RAILWAY FOR DEVELOPMENT
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153
PROPERTY DEVELOPMENT& MANAGEMENT
• MAJOR & REPUTABLE PROPERTY DEVELOPER AND MANAGER IN TOWN
• JOINT VENTURES
– RESIDENTIAL – RETAIL– OFFICES– HOTEL
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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
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155
PROPERTY DEVELOPMENT& MANAGEMENT
PROCEEDS FROM DEVELOPMENTS HELP TO:
• KEEP FARES AT REASONABLE LEVEL
• MAINTAIN & EXTEND RAIL NETWORK
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156
PROPERTY DEVELOPMENT & MANAGEMENT
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TELFORD GARDEN
157
PROPERTY DEVELOPMENT & MANAGEMENT
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PROPERTY DEVELOPMENT & MANAGEMENT
158
PARK VIEW
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PROPERTY DEVELOPMENT & MANAGEMENT
159
CENTRAL STATION RETAIL
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PROPERTY DEVELOPMENT & MANAGEMENT
160
TELFORD PLAZA
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MARITIME SQUARE
161
PROPERTY DEVELOPMENT & MANAGEMENT
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PROPERTY DEVELOPMENT & MANAGEMENT
162 ELEMENTS
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2IFC
163
2 INTERNATIONAL FINANCE CENTRE
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164
UNION SQUARE
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ICC
165
INTERNATIONAL COMMERCE CENTRE
• 118 FLOORS
• 490 METRES HIGH
• THIRD TALLEST BUILDING IN THE
WORLD
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166
ICC
ICC
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GATEWAY TOWERS
167
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• PROPERTY OPEARATIONS
& MANAGEMENT
CHINA – BEIJING
168
GINZA MALL
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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
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AUTOMATIC FARE COLLECTION
• ELECTRO-MAGNETIC CARD
• STORED VALUE CARD
• CONTACTLESS SMART CARD
ROB NOBLE FORMER MARKETING & PLANNINGDIRECTOR
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171
AUTOMATIC FARE COLLECTION
ELECTRO-MAGNETIC CARD
• PLASTIC• RE-USABLE• NO LITTER• ISSUED BY MACHINE / HAND• FIXED VALUE• ELECTRO-MAGNETIC• SINGLE JOURNEY
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172
MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
• NO TICKET FLICKING
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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
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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
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OCTOPUS CONTACTLESS SMART CARD
• RELIABLE TICKETING
• LABOUR SAVING
• DATA FOR:
OPERATIONAL PLANNIN INCLUDING PRICING
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OCTOPUS CONTACTLESS SMART CARD
• FORERUNNER OF:
• EZ-LINK – SINGAPORE
• OYSTER CARD – LONDON
• EASYCARD - TAIPEI
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OCTOPUS CONTACTLESS SMART CARD
OTHER USES:
PUBLIC TRANSPORTSCAR PARKSACCESS CONTROL TO BUILDINGSCONFIRMATION OF STUDENTS’
ATTENDANCE AT SCHOOL
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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
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MTR CORPORATION
AN OUTSTANDINGLY SUCCESSFUL
ENTERPRISE
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MTR CORPORATION LTD
LISTED ON THE HONG KONG EXCHANGE
ON 5 OCTOBER 2000
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MERGER WITH KCRC
181
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182
MERGER
• HONG KONG GOVERNMENT ANNOUNCED MERGER PROPOSAL BETWEEN MTRCL & KCRC ON 11 APRIL 2006
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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
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MERGER
KCRC
• OPERATES:– EAST RAIL– WEST RAIL– LIGHT RAIL– INTERCITY TO
GUANGZHOU– FREIGHT TO
INTERIOR OF MAINLAND CHINA
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185
MERGER
KCRC
• PROPERTY DEVELOPMENT
&
MANAGEMENT
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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
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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
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188
MERGER
MOU PROVIDES FOR
• JOB SECURITY FOR ALL FRONTLINE STAFF
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189
MERGER
DEAL TERMS
• PROVIDE A BALANCED PACKAGE FAIR TO ALL STAKEHOLDERS
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190
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
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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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192
MERGER
BENEFITS
• SYNERGY• ECONOMIES OF SCALE• COST EFFICIENCY• INTEGRATED RAIL SYSTEM
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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
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MERGED
• COMPLETED ON
2 DECEMBER 2007
• 香港鐵路有限公司194
ONE COMPANY ONE TEAM
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195
MERGED
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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
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MERGED
ONE COMPANY ONE TEAM
197
STAFF INTEGRATION WILLIAM CHAN FORMER HUMAN RESOURCES DIRECTOR
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MTR CORPORATION LTD
GROWTH MOMENTUM
198
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199
MTRCL
EXPANSION
NEW VISION :
• TO BE A WORLD CLASS ENTERPRISE • GROWING IN HONG KONG & BEYOND• FOCUSING ON RAIL, PROPERTY &
RELATED BUSINESS
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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
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201
MTRCL
• NEW CORE VALUES :
EXCELLENT SERVICEVALUE CREATIONMUTUAL RESPECTENTERPRISING SPIRIT
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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
203
MACAO GOVERNMENT
MOU SIGNED FOR LIGHT RAIL PROJECT CONSULTANCY
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DUBAI
204
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DUBAI
205
METRO & AIRPORT LINES
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DUBAI
CONSULTANCY
TO REVIEW DESIGN PROPOSALS IN RESPECT OF :
OPERATION &
MAINTENANCE
206
VIADUCT CONSTRUCTION
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DUBAI
CONSULTANCY
MOU SIGNEDTO ASSIST TO DEVELOP A MASS URBAN TRANSPORT SYSTEM, PROVIDING HIGH QUALITY TRANSPORT SERVICES
207
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INDIA
Delhi Airport Metro Express Line (AMEL)
• Major engineering & project management contract
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209
UK BUSINESS
BIDS
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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
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211211211
UK BUSINESS
LOROL MTR/DEUTSCHE BAHN
(CONTROLLED BY ARRIVA UK TRAINS)
ACTION ON DAY ONE
• OYSTER TICKETING SYSTEM
• NEW TICKETING MACHINES
• STATIONS GATED
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• IMPROVEMENT IN:
1. SERVICE OPERATION2. PUNCTUALITY3. SAFETY4. SECURITY
• TICKETLESS TRAVEL DOWN
• REVENUE UP212212
UK BUSINESS
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213213213
UK BUSINESS
PROGRAMME FOR:
• CUSTOMER SERVICE TRAINING • STATION CLEANING AND REPAIR• STATION REFURBISHEMENT• STATION REMODELLING• NEW EXTENSIONS
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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
215
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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
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EUROPE BUSINESS
STOCKHOLM UNDERGROUND
TOOK OVER OPERATION 2 NOVEMBER 2009
(FOR 8 YEARS MINIMUM)
217
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AUSTRALIA BUSINESS
METRO TRAINS MELBOURNE
TOOK OVER OPERATION ON 30 NOVEMBER 2009
(FOR INITIAL PERIOD OF 8 YEARS)
218
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AUSTRALIA BUSINESS
UNITED GROUP LTD.
SUBCONTRACT TO SUPPORT ITS ROLLING STOCK MAINTENANCE WORKS IN NEW SOUTH WALES
219
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CHINA BUSINESS
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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
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222
CHINA BUSINESS
BEIJING LINE 4– INITIALLED IN FEBRUARY 2005
– COMPANY FORMED IN JANUARY 2006
– AGREEMENT SIGNED ON 12 APRIL 2006
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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
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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
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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
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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%
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CURRENT EXTENSION PROJECTS
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HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT
• 2007-2008 POLICY ADDRESS ANNOUNCES TEN MAJOR INFRASTRUCTURE PROJECTS
• ANNUAL EXPENDITURE OF
HK$ 50 BILLION (£ 4 BILLION)
IN COMING YEARS
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HONG KONG GOVERNMENTINFRASTRUCTURE INVESTMENT
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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)
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231
RAILWAY EXTENSIONS
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RAILWAY EXTENSIONS
232XRL
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RAILWAY EXTENSIONS
233WIL
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RAILWAY EXTENSIONS
234KTE
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RAILWAY EXTENSIONS
235
JAY WALDER CEO TC CHIEW PROJECTS DIRECTOR
SCL
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RAILWAY EXTENSIONS
236SIL(E)
FULLY AUTOMATIC OPERATION
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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
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RAILWAY EXTENSIONS
238RAILWAY DEVELOPMENT STRATEGY 2000
(UPDATE)
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RAILWAY BUILDING
239
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FEASIBILITY
IDENTIFY TRANSPORT NEEDSFEASIBILITY STUDYPROPOSAL TO GOVERNMENTROUTE PROTECTION
240
RAILWAY BUILDING
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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
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CONSTRUCTION
DESIGN MANAGEMENT CONSTRUCTION MANAGEMENTPROTECTION OF ADJACENT PROPERTIESTESTING & COMMISSIONINGAPPROVAL BY RAILWAY INSPECTORATEHANDOVER TO OPERATIONS
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RAILWAY BUILDING
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SYSTME IMPROVEMENT &
PROTECTION
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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
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IN SERVICE
INTEGRATED ENTRANCE
245
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IN SERVICEOLD ENTRANCE
246
NEW ENTRANCE
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IN SERVICE
KIOSKS
247
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IN SERVICE
TOILETS & LIFTS
248
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IN SERVICE
CHAIRLIFT & TACTILE ROUTES
249
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IN SERVICE
PSD
250
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IN SERVICE
SIGNALLING
SOURCE - BOMBARDIER
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IN SERVICE
RAILWAY PROTECTION
252
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MTRCL
A STORY
OF
OUTSTANDING SUCCESS
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MTRCL
• PROFITABLE
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MTRCL
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MTRCL
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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
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MTRCL
AS AT END 2011:
PATRONAGE ( million)
Yearly 1,644
Daily 4.7
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MTRCL
HONG KONG PEOPLE
ENGINEERS MTR STAFF
HAVE REASON TO BE PROUD
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IN THE EYES of the
BBC
19 APRIL 2006
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RECAP
261
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STORY OF THE HKMTR
262
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STORY OF THE HKMTR
STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY
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STORY OF THE HKMTR
STORY OF HONG KONG IN THE FINAL DECADES OF LAST CENTURY
STORY OF 23 YEARS OF MY LIFE
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This presentation is dedicated to :
All my friends
Especially those of the MTR
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