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Mainland of China and International Businesses

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Mainland of China and International Businesses WEBSITE MENU Introduction MAINLAND OF Chairman’s Message CEO Letter CHINA AND Safety Customers INTERNATIONAL Community Environment BUSINESS Staff From our base in Hong Kong, we have expanded into the Mainland of China Supply Chain and taken on a range of railway-related Financial and Economic projects and operations internationally, Performance with presence in Australia, Sweden and the United Kingdom. Based on Corporate Governance the successful "rail plus property" Building Our Future development model in Hong Kong, we have expanded into the Mainland of China with property businesses in Beijing, Mainland of China Shenzhen and Tianjin. and International Business Introduction MTR in Mainland of China MTR in Europe MTR in Australia Performance Metrics 9 > 960 km Number of rail Total operating route services in operation length outside of outside of Hong Kong Hong Kong 140 WEBSITE MENU INTRODUCTION Introduction We are exercising prudence in our approach to the expansion of our global In this section, we highlight the key sustainability performance of major footprint. When considering future plans outside of Hong Kong, we have railway operating subsidiaries around the world by location. Key performance Chairman’s Message a strong preference for consolidating our position in countries and cities indicators (KPIs) for these railway operations are also available. CEO Letter where the Company already have a presence. Safety Average weekday patronage by region: LEARN MORE... • Mainland of China – +2.9m, Customers Refer to our Annual Report 2016 for detailed information on our • Europe – (+1.8m) Community Mainland of China and International Businesses. (incl LOROL LOROL but not Stockholm commuter rail which concession only starts in December 2016) Environment • Australia – +800k Staff Supply Chain Financial and Economic SWEDEN MAINLAND OF CHINA Performance Stockholm Metro Beijing Metro Line 4, Daxing Line, • Operated by MTR Tunnelbanan AB* Beijing Metro Line 14 and 16 (Phase 1) Corporate Governance • Rolling stock maintenance by MTR Tech AB* • Operated by Beijing MTR Corporation Stockholm Limited# Building Our Future MTR Express intercity train service • Operated by MTR Express (Sweden) AB* London Beijing Hangzhou Metro Line 1 and extension Stockholm commuter rail • Operated by Hangzhou MTR Mainland of China (Stockholms pendeltåg) Hangzhou Corporation Limited# and International • Took over in December 2016 Shenzhen • Operated by MTR Pendeltågen AB* Business • Rolling stock maintenance by Emtrain AB# Shenzhen Metro Line 4 (Longhua Line) Introduction • Operated by MTR Corporation (Shenzhen) Limited* MTR in Mainland of China AUSTRALIA MTR in Europe UNITED KINGDOM Sydney Metro Northwest MTR in Australia TfL Rail / Elizabeth Line • Operation will commence in 2019 • Operated by MTR Corporation • Operated by Metro Trains Sydney Pty. Limited# (Crossrail) Limited* Sydney Performance Metrics London Overground Melbourne’s Metropolitan Rail Service Melbourne • Until November 2016 • Operated by Metro Trains Melbourne Pty. Limited# • Operated by London Overground Rail Operations Limited# * 100% owned subsidiary of MTR Corporation # Joint Venture/Consortium of which MTR Corporation is a shareholder 141 WEBSITE MENU Management Approach Management Directives In order to ensure good corporate governance and management of financial and reputational risks, we exercise oversight over our subsidiaries Introduction GUIDING FRAMEWORK and associates. Beyond this, we are committed to promoting best practices Chairman’s Message in all areas where we have substantive control or influence. Governance of subsidiaries and associates outside of Hong Our wholly-owned and majority-owned subsidiaries are mandated to adopt CEO Letter Kong a set of management directives relating to internal controls, consultation and reporting: Safety The Chief Executive Officer is responsible for oversight on governance of subsidiaries and associates. He is supported by the Managing Director • Internal controls — implement appropriate procedures and management Customers — Operations and Mainland Business, the Legal and European Business systems to ensure compliance with relevant laws and regulations, as Community Director and the Deputy Director – Australian Business. well as the Company’s specific requirements on safety, enterprise risk and asset management, among other issues. Environment Notwithstanding these subsidiaries and associates are separate legal • Consultation — headquarters must be consulted on matters relating entities, the Company has implemented a management governance to material variation of the concession or franchise agreement, Staff framework (the “Governance Framework”) to ensure that it exercises appointment of senior managers, litigation and non-compliance with an appropriate level of control and oversight as a shareholder of these Supply Chain relevant laws and regulations, amongst others. subsidiaries and associates. Financial and Economic • Reporting — provide timely reporting on financial, operational and safety Performance In 2016, we undertook a review of the Governance Framework to refine the performance. management governance requirements and enhance the implementation Corporate Governance process, promoting increased collaboration of the corresponding functions at the Company on the one hand and the subsidiaries and associates on Operating Agreements Building Our Future the other hand. Our subsidiaries and associates participate in various forms of agreements with local authorities, including Operations & Maintenance Pursuant to the Governance Framework, the Company exercises its control (O&M), Public-Private Partnerships (PPPs), and Build-Operate-Transfer Mainland of China and oversight through formulation of a governance structure that is tailored (BOT) arrangements. Our ability to influence the environmental, social and International for individual subsidiaries and associates through adoption of management and governance impacts through the activities of our subsidiaries and practices and policies that are appropriate to the business nature and local Business associates is largely determined by the specific terms of these agreements situation, taking into account of the management governance requirements Introduction as well as the local conditions and circumstances. of the Company. The governance structures of the subsidiaries and MTR in Mainland of China associates, as a result, will ensure adequate internal controls, consultation MTR in Europe with and notifications to the Company on important matters, and Fair and ethical business complemented by regular reporting and assurance. Compliance with the MTR in Australia We promote a culture of fair and ethical business practices. With respect to relevant management practices and governance structure is reported by prevention of bribery and illegal practices, whenever the laws or customs subsidiaries and associates with significant operations on an annual basis. of another country impose stricter standards than our own anti-bribery Performance Metrics regime in Hong Kong the higher standard always prevails. 142 WEBSITE MENU Code of Conduct Learning and sharing All members of staff, irrespective of their location of employment, are In order to promote the flow of information and development of an open, Introduction expected to abide by the Code of Conduct. They should not only conduct trusting relationship, staff across the Company are encouraged to develop themselves in accordance with the highest ethical standards at all times, relationships with their counterparts and implement a culture of sharing Chairman’s Message but also to identify and address any instances of behaviour by other and learning. members of staff that are not in accordance with the Code. CEO Letter Safety Safety KEY PRINCIPLES AND PROCESSES We have an enhanced corporate safety governance framework based Customers on a benchmarking study of international best practices. The resulting Risk Management enhancements to the framework include providing independent risk Community assessment from headquarters to cover major operational changes, and We require subsidiaries and key associates to establish Enterprise Risk requiring businesses to plan and achieve specified maturity levels. Environment Management (“ERM”) system as an integral element of the corporate Staff governance framework. Measures are taken to identify, evaluate and manage significant risks arising from recurrent and growth businesses and Supply Chain from the constantly changing business environment, and covers a range of categories from financial and business environments, safety and health, Financial and Economic security, service and business performance, environment, reputation as Performance well as political issues. Risks are captured in risk registers for regular review and monitoring. Corporate Governance Building Our Future We collaborate and communicate with Risk Managers from different business units through the annual in-house “Audit & Risk Forum” held in Hong Kong, and periodic teleconference meetings for cross-learning of the Mainland of China latest developments in risk management and risk management challenges. and International Business Assurance and audit Introduction We conduct thorough assurance and regular audits, including a safety assurance assessment and enterprise risk management review, before the MTR in Mainland of China start of operations and following any substantive change in operational or MTR in Europe business activity. MTR in Australia
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