MTR Corporation – Hong Kong’s sole railway operator – saw its high-speed railway passenger volume between the special administrative region and the Chinese mainland hit a record 20 million last year, while its city subway passenger volume neared the 1.8-billion mark.
At the company’s annual general meeting on Wednesday, Chairman Rex Auyeung Pak-kuen said the rail operator will launch new projects soon, including the construction of Hung Shui Kiu Station on the Tuen Ma Line this year, and the Northern Link project from 2025.
Chief Executive Officer Jacob Kam Chak-pui said the company welcomes and will fully support the plan to extend the East Rail Line further north into Shenzhen’s Luohu district
“We plan to invest HK$65 billion (about $8.33 billion) in asset replacement, railway maintenance and other projects within five years,” he said. “MTR has already invested HK$100 billion in new projects signed.”
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In real estate, he noted that after the SAR government’s scrapping of its property cooling measures, the market has shown signs of recovering, and he is happy with the results of MTR Corp’s recent home sales.
Chief Executive Officer Jacob Kam Chak-pui said the company welcomes and will fully support the plan to extend the East Rail Line further north into Shenzhen’s Luohu district.
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“We always maintain the principle of prudence in financial management, and we’ll adjust our revenue based on costs in the future,” Kam said. “We’ve confidence in supporting the enhancement of these projects in the future.”
