DOCSLIB.ORG

HCM-Admission.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document you should consult a person authorised under the Financial Services and Markets Act 2000 who specialises in advising on the acquisition of shares and other securities. This document comprises an admission document which has been drawn up in accordance with the AIM Rules. This document does not constitute a prospectus prepared in accordance with the Prospectus Rules and a copy of it has not been, and will not be, approved by the FSA. The Directors (whose names and business addresses appear on page 6 of this document) declare that, having taken all reasonable care to ensure that such is the case, the information contained in this document is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect its import. All the Directors accept individual and collective responsibility for the Company’s compliance with the AIM Rules. AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List of the United Kingdom Listing Authority. A prospective investor should be aware of the risks in acquiring securities in such companies and should only make any decision to do so after careful consideration and, if appropriate, consultation with an independent financial adviser. Any such acquisition involves a significant degree of risk, may result in the loss of the entire investment and may not be suitable for all recipients of this document. London Stock Exchange plc has not itself examined or approved the contents of this document nor will it. Your attention is drawn to Part IV of this document entitled “Risk Factors” for a discussion of certain factors which should be taken into account in considering whether or not to subscribe for Ordinary Shares. The whole of this document should be read in light of these risk factors. HUTCHISON CHINA MEDITECH LIMITED (incorporated and registered in the Cayman Islands, with registered number CR-106733) ISIN number KYG4672N1016 Placing of 14,537,704 Ordinary Shares of US$1 each at a Placing Price of 275 pence per Share and Admission to trading on AIM Nominated Adviser: Lazard & Co., Limited Corporate Broker: Panmure Gordon (Broking) Limited Share capital immediately following the Placing Authorised Issued and fully paid Number Amount Number Amount 75,000,000 US$75,000,000 Ordinary Shares of US$1 each 51,212,121 US$51,212,121 The Ordinary Shares subject to the Placing will, on Admission, rank pari passu in all respects with the existing issued Ordinary Shares in the Company. This document does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Ordinary Shares to any person in any jurisdiction in which such an offer is unlawful. In particular, this document is not for distribution in or into the United States or to any resident or citizen of the United States, Canada, Australia, the Republic of Ireland, the Republic of South Africa, Japan or the Cayman Islands. In addition, the Ordinary Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended, or under any state securities laws and may only be offered or sold in offshore transactions as defined in and in accordance with Regulation S promulgated under the US Securities Act of 1933, as amended. Acquirers of the Ordinary Shares may not offer to sell, pledge or otherwise transfer the Ordinary Shares in the United States or to, or for the benefit of, US persons (other than distributors) unless such offer, sale, pledge or transfer is registered under the US Securities Act of 1933, as amended or an exemption from registration is available therefrom. The Company does not currently plan to register the shares under the US Securities Act of 1933, as amended. Lazard & Co., Limited (“Lazard”) and Panmure Gordon (Broking) Limited (“Panmure Gordon”) are acting for the Company, and no one else, in connection with the Admission and the Placing and the other matters referred to in this document, and will not be responsible to any person other than the Company for providing the protections afforded to their respective clients or for providing any advice in relation to the Admission or the Placing or the other matters described in this document. Lazard’s responsibilities as the Company’s nominated adviser under the AIM Rules are owed solely to London Stock Exchange plc and are not owed to the Company or to any Director or to any other person whether in respect of his decision to acquire Ordinary Shares in reliance on any part of this document or otherwise. No representation or warranty, express or implied, is made by Lazard or Panmure Gordon as to any of the contents of this document, for which the Company and the Directors are solely responsible. Neither Lazard or Panmure Gordon has authorised the contents of, or any part of, this document and, without limiting the statutory rights of any person to whom this document is issued, no liability whatsoever is accepted by Lazard or Panmure Gordon for the accuracy of any information or opinions contained in this document or for any omissions of any information, for which the Company and the Directors are solely responsible. In particular, the information contained in this document has been prepared solely for the purposes of the Placing and the Admission and is not intended to inform or be relied upon by any subsequent purchasers of Ordinary Shares (whether on or off exchange) and accordingly no duty of care is accepted in relation to them. The Company, Lazard and Panmure Gordon have only communicated or caused to be communicated and will only communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of Section 21 of FSMA) in connection with the issue or sale of the Ordinary Shares in circumstances in which Section 21(1) of FSMA does not apply. The distribution of this document and the offer of the Ordinary Shares in certain jurisdictions may be restricted by law. No action has been or will be taken by the Company, Lazard or Panmure Gordon to permit a public offering of the Ordinary Shares. Other than in the United Kingdom, no action has been or will be taken to permit the possession or distribution of this document (or any other offering or publicity materials or application form(s) relating to the Ordinary Shares) in any jurisdiction where action for that purpose may be required, or doing so is restricted or prohibited by law. The placing of Ordinary Shares to persons who are resident in, or citizens of, or which are corporations, partnerships or other entities created or organised under the laws of countries other than the United Kingdom may be affected by the laws and regulations of the relevant jurisdiction. No person receiving a copy of this document in any territory other than the United Kingdom may treat the same as constituting an offer or an invitation to him to subscribe, apply for or purchase Ordinary Shares unless, in the relevant territory, such offer or invitation could lawfully be made without compliance with any registration or other legal requirements other than any such requirements which have been fulfilled. Accordingly, persons (including, without limitation, nominees and trustees) receiving this document should not, in connection with the Placing, distribute or send the same into any jurisdiction where to do so would or might contravene securities laws or regulations. It is the responsibility of any person outside the United Kingdom to satisfy himself as to the full observance of the laws and any regulatory requirements of the relevant territory in connection therewith, including obtaining any governmental or other consent which may be required, and compliance with other necessary formalities including the payment of any issue, transfer or other taxes due in such territory. This document is being solely issued to and directed at persons who are (i) qualified investors within the meaning of directive 2003/71/ EC and any relevant implementing measures (the “Prospectus Directive”) and (ii) who have professional experience in matters relating to investments who fall within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are persons falling within article 49 (“High net worth companies, unincorporated associations, etc”) of the Order (all such persons together being referred to as “Relevant Persons”). This document has been prepared solely for the benefit of the limited number of prospective investors to whom it has been addressed and delivered and may not, in any circumstances, be used for any other purpose or be viewed as a document for the benefit of the public. The reproduction, distribution or transmission of this document (either in whole or in part) without the prior written consent of the Company is prohibited. In connection with the Placing, Panmure Gordon and/or any of its respective affiliates acting as an investor for its or their own account(s) may subscribe for or acquire Ordinary Shares and, in that capacity, may retain, acquire, sell, offer to sell or otherwise deal for its or their own account(s) in such securities, any other securities of the Company or other related investments in connection with the Placing or otherwise. Accordingly, references in this document to the Ordinary Shares being issued, offered, subscribed for or otherwise dealt with should be read as including any issue or offer to, or subscription, acquisition or dealing by Panmure Gordon and/or any of its affiliates acting as an investor for its or their own account(s).
Recommended publications
  • Taking Britain Further Heathrow’S Plan for Connecting the UK to Growth

    Taking Britain Further Heathrow’S Plan for Connecting the UK to Growth

    VOLUME 1 Taking Britain further Heathrow’s plan for connecting the UK to growth #BritainsHeathrow Disclaimer This document has been prepared by Heathrow Airport Limited solely in response to an invitation from the Airports Commission. It should not be used for any other purpose or in any other context and Heathrow Airport Limited accepts no responsibility for its use in that regard Contents Volume 1 - Technical submission Contents ........................................................................................................................ 3 Foreword ....................................................................................................................... 8 Executive Summary ................................................................................................... 11 Connecting for growth ................................................................................................................... 12 Listening to what our stakeholders say ........................................................................................... 18 Our vision for a world-class hub airport ........................................................................................... 20 Connecting all of the UK ................................................................................................................ 24 Building a sustainable Heathrow ..................................................................................................... 29 The deliverable solution .................................................................................................................
  • Prospectus E.Pdf

    Prospectus E.Pdf

    IMPORTANT If you are in any doubt about this prospectus, you should consult your stockbroker, bank manager, solicitor, professional accountant or other professional adviser. (Incorporated in Hong Kong with limited liability under the Companies Ordinance) GLOBAL OFFERING Number of Offer Shares in the Global Offering: 2,298,435,000 (subject to adjustment and the Over-allotment Option) Number of Hong Kong OÅer Shares: 229,843,500 (subject to adjustment) Maximum OÅer Price: HK$9.50 per OÅer Share payable in full on application in Hong Kong dollars, subject to refund Nominal Value: HK$5.00 per Share Stock Code: 2388 Joint Global Coordinators and Joint Bookrunners BOC International Goldman Sachs (Asia) L.L.C. UBS Warburg Holdings Limited Joint Sponsors BOCI Asia Limited Goldman Sachs (Asia) L.L.C. UBS Warburg Asia Limited The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus. A copy of this prospectus, together with the documents speciÑed in the section headed ""Documents Delivered to the Registrar of Companies'' in Appendix VIII, has been registered by the Registrar of Companies in Hong Kong as required by Section 38D of the Companies Ordinance, Chapter 32 of the Laws of Hong Kong. The Securities and Futures Commission and the Registrar of Companies in Hong Kong take no responsibility as to the contents of this prospectus or any other document referred to above.
  • THE INTELLIGENT ADVANTAGE Harnessing the Power of IT to Stay Ahead of the Game

    THE INTELLIGENT ADVANTAGE Harnessing the Power of IT to Stay Ahead of the Game

    THE INTERNATIONAL JOURNAL OF THE HUTCHISON WHAMPOA GROUP SPHERE 11 TTHEHE IINTELLIGENTNTELLIGENT AADVDVANTAGEANTAGE SPHERE CONTENTS Number 11 April 2004 2 14 UPDATES TELECOMS NEWSBITES 3 CHEERS Latest developments from the Hong Kong enters the new era Hutchison press box. of video mobile communications. 20 COVER STORY THE INTELLIGENT ADVANTAGE Harnessing the power of IT to stay ahead of the game. 9 COMMUNITY COMMUNAL BONDS HPH makes every effort to contribute to the well-being of the communities in which it operates. 28 HOSPITALITY CAPITAL COMFORT Beijing’s newest luxury hotel offers the best of both worlds for discerning travellers. Cover: Illustration by Eamonn O'Boyle PUBLISHED BY Hutchison Whampoa Limited, 22/F Hutchison House, 10 Harcourt Road, Central, Hong Kong.Website: hutchison- whampoa.com. In-house Editorial Team: Laura Cheung, Nora Yong, Jeremy Lau, Pamela Wan, Wendy Luk. Editor: Mark Caldwell – Great Pacific Marketing Services Ltd. Design and production: Fiona Wat,Alvin Fong,Tanny Shek, Kelly Cheung – , a division of the Asia City Publishing Group.Tel:2850 5500. Fax 2543 1220. Colour Separation and Printing by bigboXX.com Limited. No part of this magazine may be reproduced without the written permission of Hutchison Whampoa Limited.All rights reserved. Copyright © 2003 by Hutchison Whampoa Limited.Opinions expressed herein are those of the writers and do not necessarily reflect the opinion of Hutchison Whampoa Limited.All currency conversions are approximations. HUTCHISON UPDATES News CORPORATE HWL Annual Results Performance
  • Potential Opportunities from One of the Fastest Growing Major Global Healthcare Markets1

    Potential Opportunities from One of the Fastest Growing Major Global Healthcare Markets1

    KURE 3/31/2018 China Healthcare: Potential Opportunities From One Of The Fastest Growing Major Global Healthcare Markets1 An Overview of the KraneShares MSCI All China Health Care Index ETF (Ticker: KURE) 1. Major healthcare markets defined as top five global markets by the World Health Organization. Data from the World Health Organization as of 12/31/2015. Retrieved 3/31/2018 [email protected] 1 Introduction to KraneShares About KraneShares Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. Our suite of China focused ETFs provides investors with solutions to capture China’s importance as an essential element of a well-designed investment portfolio. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). 2 Investment Strategy: KURE seeks to measure the performance of MSCI China All Shares Health Care 10/40 Index. The Index is a free float adjusted market capitalization weighted index designed to track the equity market performance of Chinese companies engaged in the health care sector. The KURE securities in the Index include all types of publicly issued shares of Chinese issuers, which are listed in Mainland China, Hong Kong and United States. Issuers eligible for inclusion must be classified under the Global Industry Classification Standard (GICS) as engaged in the healthcare sector. The issuers included in the Underlying Index may include small-cap, mid-cap and large-cap companies.
  • The Role of Accessibility in Passengers' Choice of Airports

    The Role of Accessibility in Passengers' Choice of Airports

    JOINT TRANSPORT RESEARCH CENTRE Discussion Paper No. 2008-14 August 2008 The Role of Accessibility in Passengers' Choice of Airports Marco KOUWENHOVEN Significance The Hague, Netherlands JOINT TRANSPORT RESEARCH CENTRE Discussion Paper No. 2008-14 Prepared for the Round Table of 2-3 October 2008 on Airline Competition, Systems of Airports and Intermodal Connections The Role of Accessibility in Passengers' Choice of Airports Marco KOUWENHOVEN Significance The Hague Netherlands August 2008 The views expressed in this paper are those of the authors and do not necessarily represent positions of Significance, the OECD or the International Transport Forum. TABLE OF CONTENTS 1. INTRODUCTION ........................................................................................................ 5 1.1. Growth of regional airports .............................................................................. 5 1.2. Implications for policy makers ......................................................................... 6 1.3. Objective of this paper ..................................................................................... 7 2. DEFINITIONS OF ACCESSIBILITY ........................................................................... 8 3. ACCESS MODE CHOICE .......................................................................................... 9 3.1. Observed access mode shares ....................................................................... 9 3.2. Factors influencing access mode choice behaviour .....................................
  • Hutchison Whampoa Limited Annual Report 2005 1 CORPORATE INFORMATION

    Hutchison Whampoa Limited Annual Report 2005 1 CORPORATE INFORMATION

    e r l v y e H B i l • l s k • r a C P a y p c e n C e o g r e a R l • • T e h v e o V a e n r o u n g a a L • G C • M a e z r t n a r l e o P o p e o c z i l i n f i i t r a c w n a o P i P c H • l a h T • h l e e t K o • o y H z w n r l o e a • o d r s e n a H • n G a C o r l e t O e l e l i h e l b r • r i V m i H n e a G o n s R a n H a • • r t b n o i • t u o n g r P P a l • h l t a a r K o e z l o a t z N H o s M P o a a n e z l a u l H t a g a r l o P e r n P z p • u r o S g a n O u t u a r C o L n l u o t c i a o a h r o s y b e h a • b h t r • S • l r o i B • n a L a a a H a m h a y H H a e o a m c W • • r n u a P i P L z l P a r z a y B a u I o C b s h r r t a o o a x n i O H l a u g a • n q r e i g n C O h n c H n g d o S t t a M • K H S a r a u • H m g i o a n n n i H u i r p s a a t J n o • • s i a S b t h h c e a e u K H y r o o t s a e s n t r u o u c r a e n a H b R a H R r r z l H M o h t o a P W o e A l n a u c u g l k i t a P a P e l t K r s e C o • s t m a e z P o r M d d o c h e g l n P S a l i o y • H n u o K p r T y l h g d • • l o u e K C n t t a i u e S a H a i n b n i u s r z U r e k o t n e n • h n • C r i r a t c a o r i C e H K o l n g g n m l u o • y u H A h l h o H C n l o • c b A a r i i e & u o T b r r i i t f n e r i p a C i n n l T R s s a e t T T c i • t a C g g v H a c o o • I e e a • y n r r n w a g d • s h E p P S • e W r n t l a n t n t e e s i u o C g d d e n i e e n n ’ s T s o i n o r l e s s W i T t r s H n o T a g a c T e S t s h • W e T u a S • h h o r • e n o o • A e L C s p S e C r e e A
  • Why Some Airport-Rail Links Get Built and Others Do Not: the Role of Institutions, Equity and Financing

    Why Some Airport-Rail Links Get Built and Others Do Not: the Role of Institutions, Equity and Financing

    Why some airport-rail links get built and others do not: the role of institutions, equity and financing by Julia Nickel S.M. in Engineering Systems- Massachusetts Institute of Technology, 2010 Vordiplom in Wirtschaftsingenieurwesen- Universität Karlsruhe, 2007 Submitted to the Department of Political Science in partial fulfillment of the requirements for the degree of Master of Science in Political Science at the MASSACHUSETTS INSTITUTE OF TECHNOLOGY February 2011 © Massachusetts Institute of Technology 2011. All rights reserved. Author . Department of Political Science October 12, 2010 Certified by . Kenneth Oye Associate Professor of Political Science Thesis Supervisor Accepted by . Roger Peterson Arthur and Ruth Sloan Professor of Political Science Chair, Graduate Program Committee 1 Why some airport-rail links get built and others do not: the role of institutions, equity and financing by Julia Nickel Submitted to the Department of Political Science On October 12, 2010, in partial fulfillment of the Requirements for the Degree of Master of Science in Political Science Abstract The thesis seeks to provide an understanding of reasons for different outcomes of airport ground access projects. Five in-depth case studies (Hongkong, Tokyo-Narita, London- Heathrow, Chicago- O’Hare and Paris-Charles de Gaulle) and eight smaller case studies (Kuala Lumpur, Seoul, Shanghai-Pudong, Bangkok, Beijing, Rome- Fiumicino, Istanbul-Atatürk and Munich- Franz Josef Strauss) are conducted. The thesis builds on existing literature that compares airport-rail links by explicitly considering the influence of the institutional environment of an airport on its ground access situation and by paying special attention to recently opened dedicated airport expresses in Asia.
  • Hong Kong SAR

    Hong Kong SAR

    Hong Kong SAR 104 Doing Business in Asia Pacific SEPTEMBER 2020 Chapter 1: Introduction 108 Chapter 2: Business environment 110 2.1 Hong Kong’s free economy 110 2.2 Gateway to mainland China 111 2.3 International outlook 112 2.4 Well-established legal and financial infrastructures 112 2.5 Favourable tax regime 113 Chapter 3: Business and corporate structures 114 3.1 Limited company 114 3.2 Unincorporated businesses 116 3.3 Forms of business collaboration 116 Chapter 4: Takeovers (friendly M&A) 117 4.1 Introduction 117 4.2 Hong Kong company law 118 4.3 Other common legal issues 118 4.4 Typical documentation 119 4.5 Due diligence 120 4.6 Sale and purchase agreement 120 Chapter 5: Foreign investment 122 5.1 Overview of Hong Kong’s business and investment environment 122 5.2 Restrictions on foreign investment 123 Chapter 6: Restructuring and insolvency 124 6.1 Legal framework 124 6.2 Liquidation 124 6.3 Restructuring 125 6.4 International insolvency 126 Doing Business in Asia Pacific SEPTEMBER 2020 105 Chapter 7: Employment, industrial relations, and work health and safety 127 7.1 Basic employment rights 127 7.2 Employment contract 128 7.3 Expatriates 129 7.4 Termination 129 7.5 Work health and safety 130 Chapter 8: Taxation 131 8.1 Outline 131 8.2 Profits tax 131 8.3 Salaries tax 133 8.4 Property tax 134 8.5 Stamp duty 134 8.6 Tax disputes 135 8.7 Anti-avoidance 135 Chapter 9: Intellectual property 135 9.1 Trademarks 136 9.2 Copyright 136 9.3 Registered designs 137 9.4 Patents 137 9.5 Confidential information 138 9.6 Private information 138
  • Techwatch No. 39

    Techwatch No. 39

    TechWatch is a publication designed to alert members to topics and issues that impact on CPAs and their working environment. We welcome your comments and feedback. Comments and suggestions on TechWatch should be addressed to Stephen Chan, Executive Director by email. ISSUE 39 • November/December 2005 HEADLINES Season’s Greetings from The Hong Kong Institute of Certified Public Accountants Wishing you a Merry Christmas and a Peaceful and Prosperous New Year 聖誕快樂 新年進步 Spotlight 1. Handbook Updates No. 22 & 23 CPD & Events 2. Technical Update Evening (TUE) 3. Professional Development Activities January And February 2006 4. New CPD Requirements Effective From 1 December 2005 International Submissions 5. IASB Submissions 6. IAASB Submission 7. International Ethics Standards Board Submission Financial Reporting 8. Amendments To Standards Arising From Companies (Amendment) Ordinance 2005 9. New Transitional Provisions In HKAS 16 And HKAS 40 10. Institute Issues Accounting Guideline 5 And Withdraws SSAP 27 11. Institute Invites Comments On Two IASB Discussion Papers 12. FRSC Meeting Summaries – 12 October and 9 November 2005 Audit & Assurance 13. Institute Invites Comments On IAASB ED Of Improving The Clarity Of IAASB Standards 14. Innovation And Technology Fund – Revised Example Report By Auditors 15. AASC Meeting Summary – 26 October 2005 HEADLINES Ethics 16. New Code Of Ethics For Professional Accountants Corporate Governance 17. Results Of The 2005 Best Corporate Governance Disclosure Awards Announced Banking 18. Example Disclosure Note On Regulatory Reserve 19. Commencement Of Banking (Amendment) Ordinance 2005 Insolvency & Corporate Restructuring 20. Institute Comments On Draft Subsidiary Legislation Under Bankruptcy (Amendment) Ordinance 2005 Taxation 21. Revenue (Abolition of Estate Duty) Ordinance 2005 Gazetted 22.
  • US$5,000,000,000 Hutchison Whampoa International (03/33

    US$5,000,000,000 Hutchison Whampoa International (03/33

    http://www.oblible.com LISTING CIRCULAR US$5,000,000,000 Hutchison Whampoa International (03/33) Limited (incorporated in the Cayman Islands with limited liability) US$1,500,000,000 5.45% Guaranteed Notes due 2010 US$2,000,000,000 6.25% Guaranteed Notes due 2014 US$1,500,000,000 7.45% Guaranteed Notes due 2033 unconditionally and irrevocably guaranteed by Hutchison Whampoa Limited (incorporated in Hong Kong with limited liability) Hutchison Whampoa International (03/33) Limited has issued US$1,500,000,000 principal amount of 5.45% guaranteed notes due 2010, US$2,000,000,000 principal amount of 6.25% guaranteed notes due 2014 and US$1,500,000,000 principal amount of 7.45% guaranteed notes due 2033. The obligations of the Issuer are unconditionally and irrevocably guaranteed by Hutchison Whampoa Limited. The notes will bear interest from November 24, 2003 at the rates set forth above, payable semi-annually in arrears on May 24 and November 24 of each year (commencing May 24, 2004) for the notes due 2010 and the notes due 2033, and payable semi-annually in arrears on January 24 and July 24 of each year (commencing July 24, 2004) for the notes due 2014. The notes will not be redeemable by the Issuer prior to maturity, except upon the occurrence of certain changes in Cayman Islands, Hong Kong or PRC tax law requiring the payment of Additional Amounts as described therein. The notes are unsecured. The prices to investors are 99.741% of the principal amount of the notes due 2010, 99.897% of the principal amount of the notes due 2014 and 99.774% of the principal amount of the notes due 2033, plus accrued interest from November 24, 2003, if settlement occurs after that date.
  • Breaking New Ground 2017 Annual Report

    Breaking New Ground 2017 Annual Report

    BREAKING NEW GROUND 2017 Annual Report Comprehensive Annual Financial Report for the Year Ended December 31, 2017. Our Mission Meet the critical transportation infrastructure needs of the bi-state region’s people, businesses, and visitors by providing the highest-quality and most efficient transportation and port commerce facilities and services to move people and goods within the region, provide access to the nation and the world, and promote the region’s economic development. Our mission is simple: to keep the region moving. 2 THE PORT AUTHORITY OF NY & NJ TABLE OF CONTENTS I ntroductory Section 2 Origins of The Port Authority of New York and New Jersey 3 Letter of Transmittal to the Governors 4 Board of Commissioners 5 Leadership of the Port Authority Our Core Business Imperatives 9 Investment 10 Safety and Security 11 Integrity 12 Diversity and Inclusion 13 Sustainability and Resiliency Major Milestones By Business Line 15 2017 at a Glance 16 Aviation 20 Tunnels, Bridges & Terminals 24 Port of New York and New Jersey 28 Port Authority Trans-Hudson Corporation (PATH) 30 World Trade Center Financial Section 32 Chief Financial Officer’s Letter of Transmittal to the Board of Commissioners 35 Index to Financial Section Corporate Information Section 126 Selected Statistical, Demographic, and Economic Data 127 Top 20 Salaried Staff as of December 31, 2017 The Port Authority of New York and New Jersey Comprehensive Annual Financial Report for the Year Ended December 31, 2017 Prepared by the Marketing and Comptroller’s departments of The Port Authority of New York and New Jersey 4 World Trade Center, 150 Greenwich Street, 23rd Floor, New York, NY 10007 www.panynj.gov BREAKING NEW GrounD 1 The Port District includes the cities of New York and Yonkers in New York State; the cities of Newark, Jersey City, Bayonne, Hoboken, and Elizabeth in the State of New Jersey; and more than 200 other municipalities, including all or part of 17 counties, in the two states.
  • Avalon Airport Rail Link

    Avalon Airport Rail Link

    AVALON AIRPORT RAIL LINK Planning study findings and public exhibition Introduction Avalon Airport Rail Link is a proposed rail link connecting Avalon Airport with Melbourne and Geelong. The rail link will help support Avalon to become Victoria’s second international passenger airport, ensuring that Victoria remains competitive into the future. Study purpose Reservation of the rail link corridor The rail link design has been developed to between the Melbourne – Geelong accurately define the proposed corridor. This planning study is being undertaken rail line and Avalon Airport is being to identify and protect a reservation for implemented by amendment to the Bridge structures will provide rail- a future rail link to the airport. Greater Geelong Planning Scheme to over-road grade separations at Old introduce a Public Acquisition Overlay. Melbourne Road, Princes Freeway and Beach Road. No permanent Background waterways will be crossed but the design would accommodate areas of Situated 20 km north-east of the City Project need temporary ponding after heavy rain, of Geelong and 55 km south-west of The rail link is part of an integrated using culverts or other infrastructure. Melbourne, Avalon Airport is a fully plan to ensure that Victoria is well operational commercial airline facility positioned in the future to cater for The rail link will terminate at a station to with an operating domestic airline the expected growth in air travel. be constructed adjacent to the existing terminal and a runway capable of passenger terminal area of the airport. receiving aircraft up to A380. With the The Victorian Government is planning support of government, the private for a population of more than 10 million operator Avalon Airport Australia Pty people by 2051, including 7.8 million Transport services Ltd is working to secure an international people in Greater Melbourne.