mtr a success story 20.11.2012 staff v3
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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
HUTCHINSON HOUSE - RENTED
OFFICES
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
CONSORTIUM WITHDREW
21
22
MODIFIED INITIAL SYSTEM
MIS
(15.6 km)
25 CIVIL & 10 E&M
DESIGN AND BUILD
CONTRACTS
23
MIS
GOVERNMENT SET UP MASS
TRANSIT 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 REPRESENTATIVES
CONTRACTORS
CONSULTANTS
GOVERNMENT OFFICIALS
LEGISLATORS
DISTRICT COUNCILLORS
LOCAL 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
CO-M.D. - EUROTUNNEL
PROFESSOR – IMPERIAL COLLEGE LONDON
ICE PRESIDENT
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 &
VIADUCT45
MIS
KOWLOON BAY DEPOT
46
MIS
ADMIRALTY STATION
EXCAVATION47
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 COSTS 7.3
55
MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
56
MIS
• CLEAN
• QUIET
• EFFICIENT
• RELIABLE
• AIR-CONDITIONEDDAVID BAARACLOUGH
FORMER OPERATIONS DIRECTOR
57
MIS
SUCCESS
GROWTH
58
FIRST HEADQUARTERS BUILDING59
TSUEN WAN LINE
BUILDING UP THE
COMPANY
60
ERIC BLACK
SECOND MD
61
TSUEN WAN LINE
• ENGINEER‟S DESIGN
• CONTRACTOR‟S ALTERNATIVE
PROPOSALS CONSIDERED &
ADOPTED
TSUEN WAN DEPOT
&
LUK YEUNG SUN CHUEN DEVELOPMENT62
TWL
LAI KING TO KWAI FONG
CROSS-OVER
63
TWL
• SET UP STRONG IN-HOUSE
PROFESSIONAL PROJECT
MANAGEMENT TEAM
• HANDS-ON STYLE
64
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
65
TWL
• TSUEN WAN LINE
– TSUEN WAN
TO CENTRAL
– OPERATIONAL
10 May 1982
(AHEAD OF PROGRAMME)
66
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
67
ISL
68
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
69
ISL
MORE CHALLENGING TIME
70
71
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
72
MTR
ARRIVAL & GROWTH OF MTR
COINCIDE WITH :
TRANSFORMATION OF HONG KONG
FROM REGIONAL CITY
TO INTERNATIONAL FINANCIAL CENTRE
73
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
74
MARGARET THATCHER
75
HONG KONG LEASE
OFFER REJECTED BY CHINA
76
HONG KONG LEASE
BUT AGREED TO:
• SET UP JOINT LIAISON COMMITTEE (JLC)
• CONTINUE NEGOTIATION
• MAINTAIN STABILITY & PROSPERITY OF
HONG KONG
77
HONG KONG LEASE
• NEGOTIATION NOT GOING WELL
• UNCERTAINTY
78
HONG KONG LEASE
• JITTERY & GLOOMY
• INVESTMENTS PUT ON HOLD
• STOCK MARKET CRASH
• PROPERTY BUBBLE BURST
79
HONG KONG LEASE
HONG KONG DOLLAR PLUNGES
FROM AROUND HK$ 6 = US$ 1
TO
OVER HK$ 9 = US$ 1
80
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE
81
HONG KONG LEASE
PEOPLE RUSH TO SUPERMARKET
TO BUY :
RICE &
BABY‟S POWDERED MILK
82
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
83
HONG KONG LEASE
• CALM THE CITY
• STOP PANIC
84
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
85
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
86
HONG KONG LEASE
•ENSHRINED IN
BASIC LAW
•LODGED WITH
UNITED NATIONS
87
HONG KONG LEASE
• CURRENCY PEG
HK$ 7.8 = US$ 1
• REMAINS TO THIS DAY
88
MTRC
• BORROWING IN US$
• REVENUE IN HK$
• ADVERSE IMPACT BY
HIGH INTEREST RATE (12%)
DEVALUATION
89
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
90
91
MTRC
IN NO POSITION TO FINANCE NEW
EXTENSIONS ON ITS OWN
EXECUTIVE COMMITTEE
92
MTRC
• IN NO POSITION TO FINANCE NEW
EXTENSIONS ON ITS OWN
93
EASTERN HARBOUR CROSSING
EASTERN HARBOUR CROSSING
ENTRANCE94
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
95
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
96
EHC
OPENED ON 1 OCTOBER 1989
PRINCE CHARLES SPEAKING TO
THOMAS LAI
97
AFTER JOINT DECLARATION
• UNCERTAINTY REMOVED
• CONFIDENCE RETURNED
LIPPO CENTRE
CHECKERBOARD IN SIGHT
98
KAI TAK AIRPORT
STEADY AS SHE GOES
99
KAI TAK AIRPORT
DO YOUR WINDOW SHOPPING
BEFORE YOU LAND100
KAI TAK AIRPORT
SEE....I LAND IT ON THE ROOF
101
KAI TAK AIRPORT
HARD RIGHT TURN AND DIVE
102
KAI TAK AIRPORT
BUT LANDING ON THE
RUNWAY...... IS NOT ALWAYS
EASY103
KAI TAK AIRPORT
SOMETIMES.... ENDED UP IN THE
WATER104
KAI TAK AIRPORT
105
AIRPORT CORE PROJECTS
RELOCATE AIRPORT FROM KAI TAK TO CHEK LAP KOK
106
AIRPORT CORE PROJECTS
• APPROVED BY BEIJING
& LONDON
107
AIRPORT CORE PROJECTS
• OBJECTIVES:
– TO STIMULATE ECONOMY
– TO FACILITATE FUTURE GROWTH
– TO ELIMINATE AVIATION HAZARD
– TO BE COMPLETED IN TIME FOR HANDOVER
108
ACP
• AIRPORT AT CHEK LAP KOK
• TSING MA BRIDGE
• LANTAU & AIRPORT RAILWAY
109
ACP
• KAP SHUI MUN BRIDGE
• TING KAU BRIDGE
• HIGHWAYS
• RECLAMATIONS
• THIRD CROSS HARBOUR ROAD
TUNNEL (WESTERN HARBOUR CROSSING)
110
ACP
• HK$ 127 BILLION £ 10 BILLION
111
ACP
CHINA‟S CONCERN:
• ROSE GARDEN PROJECT
• EMPTY TREASURY
• HIGH DEBT
112
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
113
ACP
ESSENTIAL TO HAVE CHINA‟S AGREEMENT AND SUPPORT
TO ASSURE INVESTORS
WRANGLING OVER FINANCIAL DATA DELAYED PROJECT
START
HAMISH MATHERS
FORMER CHAIRMAN
114
ACP
JACK SO CHAK KWONG
FORMER CHAIRMAN & CEO
115
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
•
116
ACP
PROJECT COMPLETED IN 1998
Ir DOUGLAS OAKERVEE
PROJECT DIRECTOR HKIA
FORMER MTR PROJECT MANAGER
ICE PRESIDENT
HONG KONG INTERNATIONAL
AIRPORT117
TSING MA BRIDGE
(ROAD + RAIL)118
119
LANTAU & AIRPORT LINE
120
LAL
AIRPORT EXPRESS LINE(AEL)
AIRPORT – HONG KONG
23 MINUTES JOURNEY
IN-TOWN-CHECK-IN
121
LAL
TUNG CHUNG LINE(ON SHARED TRACK WITH AEL)
TUNG CHUNG - HONG KONG
COMMUTER LINE
ALSO PROVIDES RELIEF
TO NATHAN ROAD CONGESTION
122
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)
123
ACP
EXTENSIVE APPLICATION OF
VALUE ENGINEERING
INTRODUCE PARTNERING
RUSSELL BLACK
FORMER PROJECTS DIRECTOR
NO MORE SLIDING SEATS
124
TUNG CHUNG LINE
AEL TRAIN
125
AIRPORT EXPRESS
• SPACIOUS SEATING
• PLEASANT AMBIENCE
• BUSINESS CLASS COMFORT
FROM PLANE,
THROUGH TRAIN,
TO HOTEL
126
LAL
TCL
OPERATIONAL ON 22 JUNE 1998
AEL
OPERATIONAL ON 6 JULY 1998
127
LAL
HK$ B
PROJECT COST 35.1
(INCLUDING CAPITALISED INTEREST)
FINANCED BY:
EQUITY 23.7
DEBT 11.4
CONSOLIDATION
128
129
TSEUNG KWAN O LINE
130
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
131
132
TKL
INITIAL CAPITAL COST ESTIMATE HK$ B
INCL. CAPITALISED INTEREST 30.5
FINAL COST 16.0
HANG HAU STATION
TKL
133
NORTH POINT CAVERN
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
AIR STATION –
ASIAWORLD-EXPO
OPERATIONAL ON
20 DECEMBER 2005
138
NGONG PING 360
139
NGONG PING 360
140
NGONG PING 360
141
NGONG PING 360
AIRPORT ISLAND STATION TUNG CHUNG TERMINAL
142
NGONG PING 360
• MATERIAL DELIVERY
– HELICOPTERS
– MULES
143
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
144
SUCCESS PROFILERATING
145
146
MTRC
PROJECT MANAGEMENT
RAILWAY OPERATION
FINANCIAL EXPERTISE
TRAINING & DEVELOPMENT
PROPERTY
AUTOMATIC FARE COLLECTION
147
MTRC
• INVEST HEAVILY IN STAFF TRAINING & DEVELOPMENT
• CORE VALUES :
CUSTOMER SERVICE
RESPECT FOR THE INDIVIDUAL
ON TIME AND WITHIN BUDGET
148
MTRC
PROVIDES PROFESSIONAL
TRAINING SERVICES TO
OTHER RAILWAYS IN:
– MAINLAND CHINA
– SOUTHEAST ASIA
PHILP GAFFNEY
FORMER OPERATIONS DIRECTOR
LEN TURK
FORMER LEGAL DIRECTOR &
COMPANY SECRETARY
PATRICK MAULE
FORMER PERSONNEL DIRECTOR
PROPERTY DEVELOPMENT
& MANAGEMENT
MAJOR GOVERNMENT POLICY ISSUES
TRANSPORT HOUSING
149
150
PROPERTY DEVELOPMENT
& MANAGEMENT
• GOVERNMENT ALLOCATE LAND AT
FULL MARKET VALUE ALONG THE
RAILWAY FOR DEVELOPMENT
151
PROPERTY DEVELOPMENT
& MANAGEMENT
• MAJOR & REPUTABLE PROPERTY DEVELOPER AND MANAGER IN TOWN
• JOINT VENTURES
– RESIDENTIAL
– RETAIL
– OFFICES
– HOTEL
152
PROPERTY DEVELOPMENT
& MANAGEMENT
• SUBSTANTIAL CONTRIBUTION
TOWARDS COST OF RAILWAY
• CAPTURED PASSENGERS
(FORMING PART OF 2.4 M DAILY
RIDERSHIP)
153
PROPERTY DEVELOPMENT
& MANAGEMENT
PROCEEDS FROM DEVELOPMENTS HELP TO:
• KEEP FARES AT REASONABLE LEVEL
• MAINTAIN & EXTEND RAIL NETWORK
154
PROPERTY DEVELOPMENT
& MANAGEMENT
TELFORD GARDEN
155
PROPERTY DEVELOPMENT
& MANAGEMENT
PROPERTY DEVELOPMENT
& MANAGEMENT
156
PARK VIEW
PROPERTY DEVELOPMENT
& MANAGEMENT
157
CENTRAL STATION RETAIL
PROPERTY DEVELOPMENT
& MANAGEMENT
158
TELFORD PLAZA
MARITIME SQUARE
159
PROPERTY DEVELOPMENT
& MANAGEMENT
PROPERTY DEVELOPMENT
& MANAGEMENT
160ELEMENTS
2IFC
161
2 INTERNATIONAL FINANCE CENTRE
162
UNION SQUARE
ICC
163
INTERNATIONAL COMMERCE CENTRE
• 118 FLOORS
• 490 METRES HIGH
• THIRD TALLEST
BUILDING IN THE
WORLD
164
ICC
ICC
GATEWAY TOWERS
165
• PROPERTY OPEARATIONS
& MANAGEMENT
CHINA – BEIJING
166
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
167
168
AUTOMATIC FARE COLLECTION
• ELECTRO-MAGNETIC CARD
• STORED VALUE CARD
• CONTACTLESS SMART CARD
ROB NOBLE
FORMER MARKETING & PLANNINGDIRECTOR
169
AUTOMATIC FARE COLLECTION
ELECTRO-MAGNETIC CARD
• PLASTIC
• RE-USABLE
• NO LITTER
• ISSUED BY MACHINE / HAND
• FIXED VALUE
• ELECTRO-MAGNETIC
• SINGLE JOURNEY
170
MIS
• NO SMOKING
• NO EATING
• NO DRINKING
• NO MUSIC/RADIO
• NO TICKET FLICKING
171
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
172
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
173
OCTOPUS CONTACTLESS SMART CARD
• RELIABLE TICKETING
• LABOUR SAVING
• DATA FOR:
OPERATIONAL PLANNIN INCLUDING PRICING
174
OCTOPUS CONTACTLESS SMART CARD
• FORERUNNER OF:
• EZ-LINK – SINGAPORE
• OYSTER CARD – LONDON
• EASYCARD - TAIPEI
175
OCTOPUS CONTACTLESS SMART CARD
OTHER USES:
PUBLIC TRANSPORTS
CAR PARKS
ACCESS CONTROL TO BUILDINGS
CONFIRMATION 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
176
177
MTR CORPORATION
AN OUTSTANDINGLY SUCCESSFUL
ENTERPRISE
178
MTR CORPORATION LTD
LISTED ON THE HONG KONG
EXCHANGE
ON 5 OCTOBER 2000
MERGER WITH KCRC
179
180
MERGER
• HONG KONG GOVERNMENT ANNOUNCED
MERGER PROPOSAL BETWEEN MTRCL & KCRC
ON 11 APRIL 2006
181
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
182
MERGER
KCRC
• OPERATES:
– EAST RAIL
– WEST RAIL
– LIGHT RAIL
– INTERCITY TO GUANGZHOU
– FREIGHT TO INTERIOR OF MAINLAND CHINA
183
MERGER
KCRC
• PROPERTY DEVELOPMENT
&
MANAGEMENT
184
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
185
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
186
MERGER
MOU PROVIDES FOR
• JOB SECURITY FOR ALL FRONTLINE STAFF
187
MERGER
DEAL TERMS
• PROVIDE A BALANCED PACKAGE FAIR TO ALL
STAKEHOLDERS
188
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
189
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 STAFF
5. PROVISION OF SEAMLESS INTERCHANGE ARRANGEMENTS IN THE LONG TERM
190
MERGER
BENEFITS
• SYNERGY
• ECONOMIES OF SCALE
• COST EFFICIENCY
• INTEGRATED RAIL SYSTEM
191
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
192ONE COMPANY ONE TEAM
193
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 PASSENGERS194
MERGED
ONE COMPANY ONE TEAM
195
STAFF INTEGRATION WILLIAM CHAN
FORMER HUMAN RESOURCES DIRECTOR
MTR CORPORATION LTD
GROWTH MOMENTUM
196
197
MTRCL
EXPANSION
NEW VISION :
• TO BE A WORLD CLASS ENTERPRISE
• GROWING IN HONG KONG & BEYOND
• FOCUSING ON RAIL, PROPERTY &
RELATED BUSINESS
198
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
199
MTRCL
• NEW CORE VALUES :
EXCELLENT SERVICE
VALUE CREATION
MUTUAL RESPECT
ENTERPRISING 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
200
MACAO BUSINESS
201
MACAO GOVERNMENT
MOU SIGNED FOR LIGHT RAIL
PROJECT CONSULTANCY
DUBAI
202
DUBAI
203
METRO & AIRPORT LINES
DUBAI
CONSULTANCY
TO REVIEW DESIGN PROPOSALS IN
RESPECT OF :
OPERATION &
MAINTENANCE
204
VIADUCT CONSTRUCTION
DUBAI
CONSULTANCY
MOU SIGNED TO ASSIST TO DEVELOP A
MASS URBAN TRANSPORT SYSTEM,
PROVIDING HIGH QUALITY TRANSPORT
SERVICES
205
INDIA
Delhi Airport Metro
Express Line
(AMEL)
• Major engineering &
project management
contract206
207
UK BUSINESS
BIDS
208
UK BUSINESS
LORO (MTR/LAING )
FRANCHISE TO OPERATE
LONDON ORBITAL RAILWAY
(with over 1090 trains a day)
FROM 11 NOVEMBER 2007
FOR 7 YEARS
WITH OPTION FOR 2 FURTHER YEARS SUCCESS
209209209
UK BUSINESS
LOROL (MTR/DEUTSCHE BAHN)
ACTION ON DAY ONE
• OYSTER TICKETING SYSTEM
• NEW TICKETING MACHINES
• STATIONS GATED
(MTR/DEUTSCHE BAHN)
• IMPROVEMENT IN:
1. SERVICE OPERATION
2. PUNCTUALITY
3. SAFETY
4. SECURITY
• TICKETLESS TRAVEL DOWN
• REVENUE UP210210
UK BUSINESS
211211211
UK BUSINESS
(MTR/DEUTSCHE BAHN)
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
212
UK BUSINESS
“London Overground has become a shining example
of how franchises can be run. With the network soon
to orbit our city, the London Overground's next five
years are sure to take the service to new heights.
Congratulations to all those
workers whose hard graft has
made this a success story.”
Boris Johnson
Mayor of London
213
UK BUSINESS
9TH LONDON TRANSPORT AWARDS
LONDON TRANSPORT OPERATOR OF THE YEAR
(SECOND YEAR IN A ROW)
2012 METRORAIL AWARDS LONDON
WORLD‟S MOST IMPROVEED METRO
214
(MTR/DEUTSCHE BAHN)
UK BUSINESS
SHORT-LISTED TO BID FOR:
ESSEX THAMESIDE FRANCHISE
(LONDON FENCHURCH STREET – TILBURY- SOUTHEND)
SEPTEMBER 2012
THAMESLINK FRANCHISE
(BEDFORD – GATWICK - BRIGHTON)
FEBRUARY 2013
215
EUROPE BUSINESS
STOCKHOLM UNDERGROUND
TOOK OVER OPERATION 2 NOVEMBER 2009
(FOR 8 YEARS MINIMUM)
216
AUSTRALIA BUSINESS
METRO TRAINS MELBOURNE
TOOK OVER OPERATION ON 30 NOVEMBER 2009
(FOR INITIAL PERIOD OF 8 YEARS)
217
AUSTRALIA BUSINESS
UNITED GROUP LTD.
SUBCONTRACT TO SUPPORT ITS ROLLING STOCK
MAINTENANCE WORKS IN NEW SOUTH WALES
218
219
CHINA BUSINESS
220
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
221
CHINA BUSINESS
BEIJING LINE 4
– INITIALLED IN FEBRUARY 2005
– COMPANY FORMED IN JANUARY 2006
– AGREEMENT SIGNED ON 12 APRIL 2006
222
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
223
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
224
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
– OPERATIONAL ON 24 NOVEMBER 2012
BUSINESS OUTSIDE HONG KONG
225
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
226
HONG KONG GOVERNMENT
INFRASTRUCTURE INVESTMENT
• 2007-2008 POLICY ADDRESS
ANNOUNCES TEN MAJOR
INFRASTRUCTURE PROJECTS
• ANNUAL EXPENDITURE OF
HK$ 50 BILLION (£ 4 BILLION)
IN COMING YEARS
227
HONG KONG GOVERNMENT
INFRASTRUCTURE INVESTMENT
228
HONG KONG GOVERNMENT
INFRASTRUCTURE INVESTMENT• Transport Infrastructure
1. South Island MTR Line
2. The Sha Tin to Central MTR Link
3. The Tuen Mun Western Bypass and Tuen Mun-Chek Lap KokLink
• Cross-boundary Infrastructure Projects
4. 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) 229
230
RAILWAY EXTENSIONS
RAILWAY EXTENSIONS
231XRL
RAILWAY EXTENSIONS
232WIL
RAILWAY EXTENSIONS
233KTE
RAILWAY EXTENSIONS
234SCL
JAY WALDER
CEO
TC CHIEW
PROJECTS DIRECTOR
RAILWAY EXTENSIONS
235SIL(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
236
RAILWAY EXTENSIONS
237RAILWAY DEVELOPMENT STRATEGY 2000
(UPDATE)
RAILWAY BUILDING
238
FEASIBILITY
IDENTIFY TRANSPORT NEEDS
FEASIBILITY STUDY
PROPOSAL TO GOVERNMENT
ROUTE PROTECTION
239
RAILWAY BUILDING
PRE-CONTRACT
PREPARATION OF CONTRACT DOCUMENTS
DESIGN STANDARDS MANUAL
MATERIALS & WORKMANSHIP SPECIFICATION
CONDITIONS OF CONTRACT
BILLS OF QUANTITIES
APPOINTMENT OF CONSULTANTS
TENDERING
CONTRACT AWARD
240
RAILWAY BUILDING
CONSTRUCTION
DESIGN MANAGEMENT
CONSTRUCTION MANAGEMENT
PROTECTION OF ADJACENT PROPERTIES
TESTING & COMMISSIONING
APPROVAL BY RAILWAY INSPECTORATE
HANDOVER TO OPERATIONS
241
RAILWAY BUILDING
SYSTEM IMPROVEMENT
&
PROTECTION
242
243
IN SERVICE IMPROVEMENTS:
NEW INTEGRATED ENTRANCES
ENTRANCE UPGRADE
FACILITIES FOR THE PHYSICALLY IMPAIRED
RETROFITS - PLATFORM SIDE DOORS
KIOSKS
NEW SINGNALLING SYSTEM
CONDITION MONITORING
MAINTENANCE
RAILWAY PROTECTION
LISTENING CORPORATION
IN SERVICE
INTEGRATED ENTRANCE
244
IN SERVICEOLD ENTRANCE
245
NEW ENTRANCE
IN SERVICE
KIOSKS
246
IN SERVICE
CHAIRLIFT & TACTILE ROUTES
247
IN SERVICE
PSD
248
IN SERVICE
SIGNALLING
SOURCE - BOMBARDIER
IN SERVICE
RAILWAY PROTECTION
250
251
MTRCL
A STORY
OF
OUTSTANDING SUCCESS
KOWLOON BAY HQ BUILDING
252
MTRCL
• PROFITABLE
0
2
4
6
8
10
12
14
16
Turnover
Operating profit before depreciation (after property development profit)
Net profit excluding investment property revaluation
HK$B
14.2
10.7
8.6
MTRCL
253
MTRCL
254
255
MTRCL
CONSOLIDATED P & L A/C
(YEAR ENDED 31 December 2011) HK$ M
• REVENUE 33,423
• PROFIT ON PROPERTY DEVELOPMENTS 4,900
• OPERATING PROFIT BEFORE DEPRECIATION 17,038
• NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS 14,716
256
MTRCL
AS AT END 2011:
PATRONAGE ( million)
Yearly 1,644
Daily 4.7
257
MTRCL
HONG KONG PEOPLE
ENGINEERS MTR STAFF
HAVE REASON TO BE PROUD
258
IN THE EYES
of the
BBC
19 APRIL 2006
RECAP
259
STORY OF THE HKMTR
260
STORY OF THE HKMTR
STORY OF HONG KONG IN THE
FINAL DECADES OF LAST CENTURY
261
STORY OF THE HKMTR
STORY OF HONG KONG IN THE
FINAL DECADES OF LAST CENTURY
STORY OF 23 YEARS OF MY LIFE
262
This presentation is dedicated to :
All my friends
Especially those of the MTR
263
This presentation is dedicated to :
and to:
The Hong Kong Technical College
(now The Hong Kong Polytechnic University)
For helping me to lay the foundation for
my engineering career264
265