• Sun
  • Oct 26, 2014
  • Updated: 3:40pm


South Island Line reaches first major milestone

The first major milestone of the South Island Line (East) project was reached on Monday with a ceremony marking the structural completion of the Ocean Park Station, the first of five stations on the new line.

Monday, 9 December, 2013, 7:16pm 2 comments

MTR underlying profit rises 5.1pc to beat market target

With cash demand peaking next year as the group's five rail projects enter their final stages, the group said its net debt-equity ratio, which edged up 0.6 percentage point to 11.6 per cent, would continue to climb.

27 Aug 2013 - 4:14am 1 comment

New lines put MTR cash levels under strain

MTR's new rail projects are expected to strain the firm's cash position over the next two years, with a dearth of profit from property sales over the past 18 months compounding its predicament.

26 Aug 2013 - 4:52am

MTR's rail-property development model not for all

So who can fault me for saying that MTRC stands for Modern Town Redevelopment Company when our metro system's finance man, Lincoln Leong, himself pushes this line?

6 Aug 2013 - 4:48am 4 comments

MTR sure of hiring 2,400 at jobs fair

The MTR Corporation is confident it will be able to find 2,400 construction workers and other professionals at a job exposition this weekend for its five mega projects despite a shortage of labour in Hong Kong.

The railway company's projects director, Chew Tai-chong, said construction of the projects would reach its peak at the end of this year and 16,000 workers were needed.

27 Jun 2013 - 5:22am

MTR to drop 10c Octopus levy for screen doors

The MTR next year will stop charging Octopus card users the extra 10 cents per trip to pay for platform screen doors.

Transport minister Professor Anthony Cheung Bing-leung said yesterday the levy had raised more than HK$1 billion over the past 14 years - almost half of the HK$2.3 billion it cost to fit the safety doors at stations built before 1998.

20 Jun 2013 - 7:56am

Latest MTR concessions 'stingy'

The MTR will give fare concessions of just HK$200 million this year after the 2.7 per cent fare rise kicks in at the end of month. This is only a third of the concessions it gave last year.

It is the first year that the rail company is being forced to give a certain amount of concessions.

8 Jun 2013 - 4:16am

Technology keeps MTR line on track

More than a third of the civil works for the new South Island Line (east) have been completed, the MTR said - with some help from new technology.

The eastern section of the South Island Line which links Admiralty, Ocean Park, Wong Chuk Hang, Lei Tung Estate and South Horizons in Aberdeen, is due to open in 2015.

29 May 2013 - 5:37am

MTR faces HK$15m fine over Yuen Long derailment

A recently revised fare-adjustment mechanism that penalises any suspension of services lasting more than eight hours made such a fine possible, Secretary for Transport and Housing Professor Anthony Cheung Bing-leung said at the site of the crash.

19 May 2013 - 12:56pm 1 comment

Shaking flats in To Kwa Wan halt MTR construction

Excavation work at a To Kwa Wan railway construction site has been suspended after more than 50 residents were evacuated because of reports that nearby buildings were shaking.

The residents of four blocks in Maidstone Road were allowed to return two hours later after their homes were declared safe. But work on the MTR's Ma Tau Wai station remained suspended.

17 May 2013 - 3:11am

Letters to the Editor, May 10, 2013

'Success' for strikers has hurt society

I am glad to hear that the strike by dockworkers has come to an end following their acceptance of a 9.8 per cent pay rise.

I did not share any feelings of euphoria over their so-called victory.

Our logistics industry, one of the major pillars of Hong Kong's economy, faces major challenges from other ports in the region.

10 May 2013 - 4:43am 2 comments

MTR to extend popular second-trip fare concession beyond June

MTR Corporation's commercial director Jeny Yeung said passengers would continue to get a 10 per cent discount when they took a second trip on the same day, after the first phase of the scheme ends next month.

10 May 2013 - 4:46am

MTR Corp's new fare mechanism system a missed opportunity

After a few months of negotiations with the Mass Transit Railway Corporation, the government said it had struck a new deal that makes fare adjustments more affordable. Instead of the original 3.2 per cent rise under the old regime, fares will go up by 2.7 per cent according to a new formula. For most passengers, each trip will cost 30 cents more starting from June.

30 Apr 2013 - 5:35am 1 comment

Talking points

All eyes turn to North Korea, which celebrates the anniversary of the foundation of its army - and may mark the occasion with a new missile test.

25 Apr 2013 - 3:03am

Letters to the Editor, April 21

The danger of a conflict between China and Japan over islands in disputed waters, such as the Diaoyu Islands in the East China Sea, is always possible, given the rise of militarism in both countries.

21 Apr 2013 - 4:56am 1 comment