MTR Corporation - B

MTR Corporation - B

MTR Corporation Operations by Market

Hong Kong

MTR Corporation is responsible for the operation of MTR (and the Kowloon–Canton Railway since 2 December 2007). The rail lines are profitable, but the MTR Corporation derives most of its profits from property development (usually adjacent to railway stations) and other commercial activities in Hong Kong, including the letting of retail and poster advertising space, ATM banking facilities, and personal telecommunication services.

MTR Corporation Rail Services

Mass Transit Railway (MTR) is the rapid transit railway system in Hong Kong. Originally opened in 1979, the system currently (at August 2018) includes 221 km (137 mi) of rail with 159 stations, including 91 railway stations and 68 light rail stops. There are also several future projects of the MTR.

MTR Corporation Property Management

Property is one of the main businesses of the MTR generating most of the profits. In 2009 of a net profit of HK$7.3 billion, MTR made HK$3.55 billion from property and HK$2.12 billion from transport operations. The MTR tries to develop suitable sites related to their new railway projects and their existing railway.

For instance, the reclaimed land situated in West Kowloon owned by the MTR was developed into Union Square, a mixed-use development with residential, office, retail, and hotel space. The site includes the tallest commercial building in Hong Kong, the 118-storey International Commerce Centre.

Central's landmark International Finance Centre is managed by Premier Plus, MTR's elite property management brand.

MTR Corporation Shopping Centres

The MTR Corporation invested heavily to develop large shopping centres around MTR stations. The most recent example is the PopCorn mall located at Tseung Kwan O station. It is connected to the adjacent malls, high-end housing and hotels. Another example of such a shopping centre is Maritime Square (青衣城) located at Tsing Yi station. Maritime Square is a nautical-themed mall in which there are supermarkets, boutiques, bookstores, a cinema, and restaurants.

Since Tsing Yi station serves as the transport hub for Tsing Yi, Maritime Square is also easily accessible by other transport means including buses and taxis. Other shopping centres developed and managed by the corporation include CityLink, Elements, Hanford Plaza, Ocean Walk, Paradise Mall, Plaza Ascot, Sun Tuen Mun Shopping Centre, Telford Plaza, The Lane, the LOHAS, and Luk Yeung Galleria.

As of 2023, MTR Corporation owns 13 shopping malls across Hong Kong, classified into luxury, regional, and neighbourhood malls.

MTR Corporation United Kingdom

MTR Corporation Current Operations

Elizabeth line: In May 2015, TfL Rail began an eight-year contract to operate the Crossrail concession in London, with an option for a further two years. Before the new railway lines opened, MTR already operated Liverpool Street–Shenfield and Paddington–Heathrow Airport services branded as TfL Rail. In May 2022 services commenced between Paddington and Abbey Wood via Liverpool Street, and all services were renamed Elizabeth line.

South Western Railway: In August 2017, South Western Railway, in which MTR has a 30% shareholding in a joint venture with FirstGroup, began operating the South Western franchise.

MTR Corporation Former Operations

London Overground: MTR and Laing Rail established a 50/50 joint venture (MTR Laing) to bid for the London Overground concession. MTR Laing won the bid and trading as London Overground Rail Operations operated the concession from November 2007. After Laing Rail and Arriva UK Trains were brought under the ownership of Deutsche Bahn in 2007 and 2010 respectively, Arriva took over the Laing Rail's share of the concession. In June 2015, MTR was shortlisted to bid for the next London Overground concession in its own right, but lost out to its previous partner, Arriva. Arriva Rail London took over full operation in November 2016.

MTR Corporation Unsuccessful or Withdrawn Bids

• In 2004, MTR in a joint venture with Sea Containers unsuccessfully bid for the Integrated Kent franchise.
• In 2007, MTR was shortlisted to bid for the West Midlands franchise, but did not lodge a bid.
• In February 2009, MTR Corporation were shortlisted to operate the Tyne & Wear Metro concession in Newcastle upon Tyne.
• In November 2013, MTR was announced as a bidder for the ScotRail franchise.
• In April 2016, MTR was again shortlisted to bid for the West Midlands franchise, however again withdrew.
• In October 2016, MTR was shortlisted to operate the Wales & Borders franchise.
• In June 2017 a joint venture between MTR and Guangshen Railway Company was shortlisted to bid for the West Coast Partnership franchise to commence in 2019. In December 2018 Spanish operator Renfe Operadora joined their bid. In August 2019, it was announced that MTR was unsuccessful in the bid, losing to a joint bid by First and Trenitalia.

MTR Corporation Sweden

• MTR Nordic AB is a subsidiary of MTR Corporation UK based in Stockholm that operates in the public transportation sector through four subsidiaries. The CEO of MTR Nordic is Henrik Dahlin.
• MTR Tunnelbanan AB (known as MTR Stockholm AB until June 2016) is responsible for the operation, planning and maintenance of the Stockholm Metro. In January 2009, Tunnelbanan Teknik Stockholm, a 50/50 joint venture between MTR and Mantena, was awarded the contract from Storstockholms Lokaltrafik (SL) to operate the network for eight years with an option to extend for another six years. MTR started operating the metro on 2 November 2009, and in September 2015 the six-year extension was granted. The current contract with Storstockholms Lokaltrafik (SL) for the metro extends to November 2023. In January 2016, MTR bought out its joint venture partner. The division has approximately 3,000 employees with Caroline Åstrand as its CEO.
• MTR Tech AB, formerly Tunnelbanan Teknik Stockholm AB (TBT), carries out maintenance of the Stockholm Metro rolling stock. Its CEO is Erika Enestad.
• MTR Express (Sweden) AB operates long-distance trains between Stockholm and Gothenburg with its own ticket sales using the brand name MTRX. The service, operational since 21 March 2015, uses six X74 (Stadler Flirt) electric multiple units travelling at up to 200 km/h. The division has 90 employees based in both Stockholm and Gothenburg, led by CEO Joakim Sundh.
• MTR Pendeltågen AB has been the operator of Stockholm commuter rail network since 11 December 2016. In December 2015, the Traffic Commission in the Stockholm County Council decided that MTR would take overall responsibility for the network, trains, and stations in a contract for 10 years, with an option to extend for another four years. SJ requested a review of the decision, but it was rejected by the Stockholm Administrative Court. MTR took over the service from the previous operator Stockholmståg. MTR Pendeltågen AB CEO is Mats Johannesson.

MTR Corporation Australia

• Melbourne: In June 2009, the Metro Trains Melbourne consortium of MTR (60%), John Holland and United Rail (20% each) were selected to operate the Melbourne suburban railway network, taking over from Connex Melbourne on 30 November 2009. In September 2016, the government opened negotiations with Metro Trains Melbourne to extend the contract for seven years until November 2024.
• Sydney: In June 2014, Northwest Rapid Transit, a consortium consisting of MTR (60%), John Holland Group, Leighton Contractors, Plenary Group and UGL Rail, was selected to deliver the Sydney Metro Northwest operations contract. As part of the consortium, MTR Corporation, John Holland and UGL Rail formed the Metro Trains Sydney joint venture to operate services on the line for 15 years. The North West Rail Link opened in May 2019.

MTR Corporation Limited Overview

Headquarters: Kowloon Bay, Hong Kong
Formerly: Mass Transit Railway Corporation (1972–2000)
Type: Public, Government-owned corporation
Traded as:
SEHK: 66
Hang Seng Index component
Industry:
Public transport
Real estate
Founded: 22 September 1972
Headquarters: 33 Wai Yip Street, Kowloon Bay, New Kowloon, Hong Kong
Area Served: Worldwide, including:
Hong Kong
Australia
Melbourne, Victoria
Sydney, NSW
mainland China:
Shenzhen, Guangdong
Beijing
Hangzhou, Zhejiang
Macau
Sweden
Stockholm
United Kingdom
London, England
Key People:
Rex Auyeung (chairman)
Jacob Kam (CEO)
Revenue: HK$55.4 billion (December 2017)
Net Income: HK$10.5 billion (December 2017)
Total Assets: HK$263.768 billion (December 2017)
Owner:
Hong Kong Government 75.09%
Others 24.91%
Number of Employees: 28,053 (June 2017)
MTR Corporation:
Traditional Chinese: 香港鐵路有限公司
Simplified Chinese: 香港铁路有限公司
Literal Meaning: Hong Kong Railway Corporation Limited