|
MTR–KCR Merger
On 2 December 2007, the two major railway companies in Hong Kong, the Kowloon-Canton Railway Corporation, which operated the Kowloon-Canton Railway, and the MTR Corporation, which operated the MTR, merged their operations. Background There had already been some discussion of merging the KCR, which was also government-owned, and the MTR to make the territory's transport system more efficient. The MTRCL backed such a merge while the KCRC opposed the plan. In March 2004, the Hong Kong government officially encouraged the two companies to merge. On 11 April 2006, the Hong Kong government officially announced the details of the proposed merger. Under the non-binding memorandum of understanding the government had signed with KCRC, KCRC would grant a service concession to the MTRCL to operate the KCR system, with an initial period of 50 years. The KCRC would receive a one-time upfront payment of HK$4.25 billion, a fixed annual payment of HK$750 million and a variable a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merger Of KCR And MTR Operations 2007-12-02 02h41m14s SN208180
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Clayton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MTR NamCheong 1
The Mass Transit Railway system, known locally by the initialism MTR, is a rapid transit system in Hong Kong and the territory's principal mode of railway transportation. Operated by the MTR Corporation (MTRCL), it consists of heavy rail, light rail and feeder bus services, centred around a 10-line rapid transit network, serving the urbanised areas of Hong Kong Island, Kowloon, and the New Territories. The system encompasses of railways, as of December 2022, with 179 stations—including 99 heavy rail stations, 68 light rail stops and 1 high-speed rail terminus. Under the government's rail-led transport policy, the MTR system is a common mode of public transport in Hong Kong, with over five and a half million trips made on an average weekday consistently achieving a 99.9% punctuality rate on its arrivals and departures. As of 2018, the MTR has a 49.3% share of the franchised public transport market, making it the most popular transport option in Hong Kong. The integratio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the world. Hong Kong was established as a colony of the British Empire after the Qing dynasty ceded Hong Kong Island in 1841–1842 as a consequence of losing the First Opium War. The colony expanded to the Kowloon Peninsula in 1860 and was further extended when the United Kingdom obtained a 99-year lease of the New Territories in 1898. Hong Kong was occupied by Japan from 1941 to 1945 during World War II. The territory was handed over from the United Kingdom to China in 1997. Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of one country, two systems. Originally a sparsely populated area of farming and fishing villages,. the territory is now one of the world's most signific ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kowloon-Canton Railway Corporation
The Kowloon-Canton Railway Corporation (KCRC; ) is a Government of Hong Kong, Hong Kong State-owned enterprise, wholly government-owned railway and land Asset management, asset manager. It was established in 1982 under the Kowloon-Canton Railway Corporation Ordinance for the purposes of operating the Kowloon–Canton Railway (KCR), and to construct and operate other new railways. On 2 December 2007, the MTR Corporation, MTR Corporation Limited (MTRCL), another railway operator in Hong Kong, MTR–KCR merger, took over the operations of the KCR network under a 50-year service concession agreement, which can be extended. Under the service concession, KCRC retains ownership of the KCR network with the MTRCL making annual payments to KCRC for the right to operate the network. The KCRC's activities are governed by the KCRC Ordinance as amended in 2007 by the Rail Merger Ordinance to enable the service concession agreement to be entered into with the MTR Corporation Limited. The Hong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MTR Corporation
MTR Corporation Limited is a majority government-owned public transport operator and property developer in Hong Kong which operates the Mass Transit Railway, the most popular public transport network in Hong Kong. It is listed on the Hong Kong Stock Exchange, Hong Kong Exchange and is a component of the Hang Seng Index. The MTR additionally invests in railways across different parts of the world, including franchised contracts to operate rapid transit systems in Elizabeth line, London, Stockholm Metro, Stockholm, Beijing Subway, Beijing, Hangzhou Metro, Hangzhou, Macau Light Rapid Transit, Macao, Shenzhen Metro, Shenzhen, Sydney Metro, Sydney, and a suburban rail system in Metro Trains Melbourne, Melbourne. History The Mass Transit Railway Corporation () was established on 22 September 1972 as a government-owned statutory corporation to build and operate a mass transit railway system to meet Hong Kong's public transport needs. On 30 June 2000, the MTRC was succeeded by the M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Government
The Government of the Hong Kong Special Administrative Region (commonly known as the Hong Kong Government or HKSAR Government) is the Executive (government), executive authorities of Hong Kong. It was established on 1 July 1997, following the handover of Hong Kong. The Chief Executive of Hong Kong, Chief Executive and the Principal officials of Hong Kong, principal officials are appointed by the State Council of the People's Republic of China in accordance with the outcome of local processes. The Government Secretariat (Hong Kong), Government Secretariat is headed by the Chief Secretary for Administration, Chief Secretary of Hong Kong, who is the most senior principal official of the Government. The Chief Secretary and the other Secretary of State, secretaries jointly oversee the administration of Hong Kong, give advice to the Chief Executive as members of the Executive Council of Hong Kong, Executive Council, and are Accountability#Political accountability, accountable for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Government
The Government of the Hong Kong Special Administrative Region (commonly known as the Hong Kong Government or HKSAR Government) is the Executive (government), executive authorities of Hong Kong. It was established on 1 July 1997, following the handover of Hong Kong. The Chief Executive of Hong Kong, Chief Executive and the Principal officials of Hong Kong, principal officials are appointed by the State Council of the People's Republic of China in accordance with the outcome of local processes. The Government Secretariat (Hong Kong), Government Secretariat is headed by the Chief Secretary for Administration, Chief Secretary of Hong Kong, who is the most senior principal official of the Government. The Chief Secretary and the other Secretary of State, secretaries jointly oversee the administration of Hong Kong, give advice to the Chief Executive as members of the Executive Council of Hong Kong, Executive Council, and are Accountability#Political accountability, accountable for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Octopus Card
The Octopus card ( zh, t=, j=baat3 daat6 tung1, is a reusable Contactless payment, contactless stored value smart card for making Electronic money, electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's public transport system, it has grown into a widely used system for transport and other retail transactions in Hong Kong. It is also used for purposes such as recording school attendance and permitting building access. The cards are used by 98 percent of the population of Hong Kong aged 15 to 64 and the system handles more than 15 million transactions, worth over HK$220 million, every day. The Octopus card system was the world's second contactless smart card system, after the Korean Upass. It won the Chairman's Award at the World Information Technology and Services Alliance's 2006 Global IT Excellence Awards for, among other things, being the world's leading complex automatic fare collection and contactle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transport In Hong Kong
Hong Kong has a Developed country, highly developed transport network, encompassing both public transport, public and private transport. Based on Hong Kong Government's Travel Characteristics Survey, over 90% of daily journeys are on public transport, the highest rate in the world. However, in 2014 the Transport Advisory Committee, which advises the Government on transportation issues, issued a report on the much-worsened congestion problem in Hong Kong and pointed at the excessive growth of private cars during the past 10–15 years. The Octopus card, a smart electronic money payment system, was introduced in September 1997 to provide an alternative to the traditional banknotes and coins. Available for purchase in every stop of the MTR, Mass Transit Railway system, the Octopus card is a non-touch payment system which allows payment not only for public transport (such as trains, buses, trams, ferries and minibuses), but also at parking meters, convenience stores, supermarkets, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
