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Mtr Corporation at a Glance

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Mtr Corporation at a Glance MTR CORPORATION LIMITED LIMITED CORPORATION MTR ANNUAL REPORT 2011 REPORT ANNUAL GROWTH MTR Corporation Limited MTR Headquarters Building, Telford Plaza Kowloon Bay, Kowloon, Hong Kong GPO Box 9916, Hong Kong IN MOTION Telephone : (852) 2993 2111 Facsimile : (852) 2798 8822 ANNUAL REPORT 2011 www.mtr.com.hk Stock Code: 66 Our theme this year is “growth in motion”. As a provider of transport services in Hong Kong, the Mainland of China and overseas, motion is our business, moving millions of people every day in comfort and safety. We as a Company are also constantly in motion, actively seeking ways to grow our businesses in order to achieve sustainable growth for our shareholders. Our energy, professionalism and commitment to working closely with the communities we serve has made the Company one of the most successful and respected in its field. GROWTH IN MOTION CONTENTS 02 MTR Corporation in Numbers – 2011 84 Risk Management 04 Hong Kong Operating Network with 85 Sustainability Future Extensions 86 Corporate Responsibility 06 MTR Corporation at a Glance 90 Corporate Governance Report 08 Chairman’s Letter 108 Remuneration Report 12 CEO’s Review of Operations 112 Board and Executive Directorate and Outlook 118 Key Corporate Management 21 Key Figures 119 Report of the Members of the Board 22 Key Events in 2011 145 Contents of Accounts and Notes Executive Management’s Report 146 Independent Auditor’s Report 24 – Hong Kong Transport Operations 147 Consolidated Profit and Loss Account 38 – Hong Kong Station Commercial Business 148 Consolidated Statement of Comprehensive Income 44 – Property and Other Businesses 149 Consolidated Balance Sheet 56 – Hong Kong Network Expansion 150 Balance Sheet 62 – Mainland and Overseas Growth 151 Consolidated Statement of 68 – Human Resources Changes in Equity 74 Financial Review 152 Consolidated Cash Flow Statement 80 Ten-Year Statistics 153 Notes to the Accounts 82 Investor Relations 239 Glossary MTR CORPORATION IN NUMBERS – 2011 CONSOLIDATED FINANCIALS Total Revenue HK$ Underlying Profit HK$ 33.4 billion 10.47 billion Total Assets Net Debt-to- Equity Ratio HK$ 197.9 billion 11.9 % HONG KONG TRANSPORT OPERATIONS Share of Domestic Service Fare Franchised Revenue Per Passenger Public Passenger Journeys on Time Transport HK$ Market 6.81 % Total Route Length 99.9 218 Total Patronage 45.4 % km 1.7 billion HONG KONG NETWORK EXPANSION New Rail which will add Projects 56 km 5 are progressing well to our network in Hong Kong 2 MTR Corporation PROPERTY AND OTHER BUSINESSES Investment Property Portfolio in Property Hong Kong Includes Development Profit Shopping HK$ 12 Malls Floors of 4.9 18 Two ifc billion HONG KONG STATION COMMERCIAL BUSINESS Station Commercial Revenue 10.2 % of Total Revenue MAINLAND AND OVERSEAS GROWTH 1.1 billion Passengers Carried by Our Rail Operations in 5 Cities Outside of Hong Kong HUMAN RESOURCES 21,295 Staff Worldwide Annual Report 2011 3 Shenzhen Lo Wu HONG KONG OPERATING NETWORK WITH FUTURE EXTENSIONS Intercity Through Beijing Train Route Map Lok Ma Chau Sheung Shui Shanghai Kwu Tung Fanling Beijing Line Zhaoqing Guangzhou LEGEND EXISTING NETWORK PROJECTS IN PROGRESS Shanghai Line Station Airport Express Guangzhou-Shenzhen- Guangdong Line Foshan HONG KONG SAR Hong Kong Express Rail Link Dongguan Interchange Station Disneyland Resort Line Kwun Tong Line Extension Proposed Station East Rail Line Tai Wo South Island Line (East) Proposed Island Line Interchange Station West Island Line Yuen Long Kwun Tong Line Long Ping 44 Shenzhen Metro Light Rail Network EXTENSIONS UNDER STUDY 40 47 Ma On Shan Line 33 Kam Tai Po Market * Racing days only Sheung Tseung Kwan O Line Shatin to Central Link 48 Road 49 Tin Shui Wai Ma On Shan Tsuen Wan Line 36 POTENTIAL FUTURE EXTENSIONS 50 Wu Kai Sha Tung Chung Line New Territories Heng On North Island Link West Rail Line University Siu Hong Tai Northern Link Shui South Island Line (West) Hang 27 35 29 Tuen Mun Racecourse* 30 45 Shek Mun Fo Tan 28 31 City One Sha Tin Tsuen Wan Tai Wo Hau 20 Central Park / Island Harbourview / 05 Sha PROPERTIES OWNED / PROPERTY DEVELOPMENTS Tin Kwai Hing Park Avenue / Harbour Green / 46 07 38 Wai DEVELOPED / MANAGED BY Bank of China Centre / HSBC Centre / UNDER CONSTRUCTION / THE CORPORATION PLANNING Che Kung Olympian City One / Olympian City Two Tsuen Wan West 39 Temple 06 37 01 Telford Gardens / Telford Plaza I and II 21 The Waterfront / Sorrento / 23 Tseung Kwan O Station Area 56 Kwai Fong51 The Harbourside / The Arch / Elements / Tai Wai 02 World-wide House 34 LOHAS Park Package 2-10 18 Hin Keng The Cullinan / The Harbourview Place / Mei Foo Lok Fu Wong Tai Sin 03 Admiralty Centre W Hong Kong / International Commerce 38 Che Kung Temple Station Tsing Yi Lai King Kowloon 04 Argyle Centre Centre / The Ritz-Carlton, Hong Kong 39 Tai Wai Station Lai Chi Kok Tong Diamond Hill Cheung 05 Luk Yeung Sun Chuen / Luk Yeung 22 One International Finance Centre / 40 Tin Shui Wai Light Rail (Tin Wing Road) Sha Wan AsiaWorld-Expo 25 DisneylandResort Sham Choi Hung Galleria Two International Finance Centre / 41 Austin Station Site C 43 Shui Po Kowloon IFC Mall / Four Seasons Hotel / Sunny Bay 06 New Kwai Fong Gardens 42 Austin Station Site D Shek Four Seasons Place Nam Kip Mei 07 Sun Kwai Hing Gardens Airport Prince 52 Wong Chuk Hang Station Po Lam 23 Central Heights / The Grandiose / 19 Cheong Edward Kowloon Bay 24 08 Fairmont House Kai Tak 01 The Edge / The Wings 53 Ho Man Tin Station 20 Mong Mong Hang Hau Tung 04 Kok Kok East To 09 Kornhill / Kornhill Gardens Chung Kwa 24 Residence Oasis / The Lane Wan Ngau Tau Kok Yau 53 Ma 10 Fortress Metro Towers Olympic Ma Ho Tau 25 No.8 Clear Water Bay Road / Choi Hung WEST RAIL LINE PROPERTY Tei Man Wai Kwun Tong 23 11 Hongway Garden / Infinitus Plaza Park & Ride Cable Car 41 Tin DEVELOPMENT (AS AGENT FOR Ngong Ping 360 42 Lam Tin 12 Perfect Mount Gardens 21 Yau Tong Tseung 26 Metro Town Whampoa Kwan O THE RELEVANT SUBSIDIARIES Austin Jordan 13 New Jade Garden 27 Royal Ascot / Plaza Ascot Tiu OF KCRC) Kowloon Tsim Hung 26 Keng Lantau West Sha Hom Leng 14 Southorn Garden 28 Pierhead Garden / Ocean Walk Tsui 32 43 Nam Cheong Station Island Kowloon 15 Heng Fa Chuen / Heng Fa Villa / 29 Sun Tuen Mun Centre / Sun Tuen Mun Terminus Paradise Mall 44 Yuen Long Station East Tsim Shopping Centre Sha Tsui 10 45 Tuen Mun Station 09 34 16 Park Towers 22 Fortress Hill 30 Hanford Garden / Hanford Plaza Sai Ying Pun LOHAS Park 11 Hong Kong 17 46 Tsuen Wan West Station Tamar North 17 Felicity Garden 31 Citylink Plaza ExhibitionVictoriaPark Point 12 16 47 Long Ping Station 02 Quarry Bay 18 Tierra Verde / Maritime Square 32 MTR Hung Hom Building / Hung Hom Tai Koo 15 Tin 48 Tin Shui Wai Station Sheung Wan 19 Tung Chung Crescent / Citygate / Novotel Station Carpark KennedyTown Hau Hong Kong Central 14 Sai Wan Ho University Wan Citygate / Seaview Crescent / Coastal 33 Trackside Villas 49 Kam Sheung Road Station Chai Bay 03 Causeway Shau Kei Wan Skyline / Caribbean Coast 34 The Capitol / Le Prestige / Le Prime 50 Pat Heung Maintenance Centre 08 Central SouthAdmiralty Heng Fa Chuen 35 The Palazzo 51 Kwai Fong Site Hong Kong Island 13 36 Lake Silver Chai Wan 37 Festival City Aberdeen Cyberport Wah Fu 52 Wong Ocean Chuk Park Hang Lei Tung MTR Corporation 4 South Horizons Shenzhen 48 40 Long Ping 29 Siu Hong 47 Lok Ma Chau Tin Shui Wai 28 Tuen Mun Lo Wu 30 45 Yuen Long 44 Kam Kwu Tung 49 Sheung Road Sheung Shui 50 Fanling Intercity Through AsiaWorld- Train Route Map Expo Airport Beijing Line Tai Wo Shanghai Line 19 Cable Car Tung Guangdong Line Ngong Ping 360 Chung Lantau New Territories Island Beijing Zhaoqing Tsuen Wan West 33 Guangzhou 46 Foshan Sunny Bay Tai Po Market Tsuen Wan Disneyland 05 Dongguan Resort Shanghai Tai Wo Hau Tsing Yi 18 HONG KONG SAR Kwai Hing 07 Kwai Fong 06 Lai King 51 University Mei Foo 27 35 Fo Tan Sha Tin 31 Tai Heng On Shui Ma On Shan 43 Racecourse* Hang Nam Lai Chi Kok Tai Wai Cheong 39 36 Cheung 37 20 Sha Wan 38 Wu Kai Sha Olympic Sham Hin Keng Che Kung Sha City One Shek Mun Prince Shui Po Kowloon Temple Tin Edward Tong Kennedy 21 Lok Fu Wai Town Sai Ying Pun 04 Shek Kowloon Kip Mei Kowloon Wong Tai Sin Mong 41 Hong Kong 42 Kok University West Yau 11 Kowloon Austin Ma Mong Diamond Hill Kok East Sheung Wan Terminus Tsim Tei 53 Sha 22 Ho 25 Tsui Jordan Man 02 Ma To Kai Tak Choi Hung Cyberport Hong Kong Tin Tau Kwa Central Wai Wan Tamar East Tsim Hung Whampoa Central South 32 Hom Wah Fu Sha Tsui 01Kowloon Bay Admiralty Exhibition 10 03 14 08 Victoria Wan Park Fortress Hill Ngau Tau Kok South Horizons Chai Aberdeen Causeway 16 Kwun Tong Po Lam Bay Tin North Lei Tung Hau Point Lam Tin 24 Wong Hang Hau 52 Hong Kong Island Quarry Bay Yau Tong Chuk 09 Hang 23 Tai Koo Ocean 26 Park 17 Tiu Tseung Sai Wan Ho Keng Kwan O 12 Leng Shau Kei Wan Heng Fa Chuen 15 34 LOHAS Park Chai Wan 13 Annual Report 2011 5 MTR CORPORATION AT A GLANCE The Company is regarded as one of the world’s leading railway operators, with a successful track record of building sustainable communities based on an integrated approach to rail transport and property. We opened our first railway line in Hong Kong over 30 years ago, since when our activities have increased in size, scale, geographic coverage and diversity.
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