KOWLOON-CANTON RAILWAY CORPORATION 九廣鐵路公司
Submission to LegCo on XRL
Webb-site has today made the following submission to the Legislative Council Finance Committee and its Public Works Subcommittee regarding the HK section of the Express Rail Link to Shenzhen. (14-Jan-2016)
Webb-site has today made the following submission to the Legislative Council Finance Committee and its Public Works Subcommittee regarding the HK section of the Express Rail Link to Shenzhen. (14-Jan-2016)
MTRC and the new Kowloon-Canton railway
We call on Government to disclose what the revenue-sharing deal with China Railway will be and to lease XRL directly to China Railway rather than MTRC, leaving MTRC to run the HK network. The MTRC special dividend should be unconditional and should be increased from $4.40 to $11 per share, slimming down the obese balance sheet to a healthy weight. (12-Jan-2016)
We call on Government to disclose what the revenue-sharing deal with China Railway will be and to lease XRL directly to China Railway rather than MTRC, leaving MTRC to run the HK network. The MTRC special dividend should be unconditional and should be increased from $4.40 to $11 per share, slimming down the obese balance sheet to a healthy weight. (12-Jan-2016)
MTRC (0066) and the FAM
We remind the board of MTRC that although they hold a blanket waiver of the Listing Rules on connected transactions, they cannot agree to amend the Fare Adjustment Mechanism if they expect it to reduce profits, because it would breach their fiduciary duty to minority shareholders. If the Government really wants to run the transport system and set fares, then they should nationalise it. (27-Mar-2013)
We remind the board of MTRC that although they hold a blanket waiver of the Listing Rules on connected transactions, they cannot agree to amend the Fare Adjustment Mechanism if they expect it to reduce profits, because it would breach their fiduciary duty to minority shareholders. If the Government really wants to run the transport system and set fares, then they should nationalise it. (27-Mar-2013)
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