DOCSLIB.ORG

Summary Financial Report 2002

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Summary Financial Report 2002 summary financial report 2002 This Summary Financial Report 2002 only gives a summary of the information and particulars of MTR’s Annual Report 2002 from which this Summary Financial Report is derived. Both documents are available (in both English and Chinese versions) in electronic form on the Company’s website at www.mtr.com.hk You may obtain a printed copy of the 2002 Annual Report free of charge by writing to the Company’s share registrar, Computershare Hong Kong Investor Services Limited, or our Corporate Relations Department.Their details are set out on the inside back cover of this Summary Financial Report. vision MTR – Hong Kong’s fast track to a world class city.mission to develop and manage a world class railway together with property and other related businesses, to enhance the quality of life in Hong Kong. wider horizons A rail network spanning the length and breadth of Hong Kong. Property developments that offer new ways of living and working. A future cable car with breathless vistas over land and sea. An expanding array of businesses, in more and more markets around the world. Ever wider horizons, for MTR, its customers and shareholders. Contents 1 Key figures 10 Ten-year statistics 2 Chairman‘s statement 12 Board and Executive Directorate 2002 Business review 13 Report of the Members of the Board 5 – business environment 18 Consolidated profit and loss account 5 – railway operations 19 Consolidated balance sheet 6 – other businesses 20 Notes to the summary financial statements 7 – property review 24 Auditors’statement on the summary 8 – future projects financial report 8 – human resources Key shareholder information 9 – financial review You may at any time choose to receive summary financial reports or annual reports in printed form or to rely on their versions posted on the Company’s website. You may also at any time choose to receive (a) summary financial reports or annual reports in place of the other and (b) the English version only, the Chinese version only or both the English and the Chinese versions of the Company’s summary financial reports or annual reports.You may make the above choices notwithstanding any wish to the contrary previously conveyed to the Company.You may change your choice on these matters by writing to the Company’s share registrar, Computershare Hong Kong Investor Services Limited, whose details are set out on the inside back cover. If you have already chosen to rely on the versions of the summary financial reports and annual reports posted on the Company’s website or have difficulty in having access to those documents, you will, promptly upon written request, be sent those documents in printed form free of charge. Please send your request to the Company’s share registrar, Computershare Hong Kong Investor Services Limited. KEY FIGURES 1 Key figures % Increase/ Financial highlights in HK$ million 2002 2001 (Decrease) Revenue –Fare 5,720 5,728 (0.1) – Non-fare 1,966 1,864 5.5 Operating profit from railway and related operations before depreciation 4,014 4,053* (1.0) Profit on property developments 3,755 3,248 15.6 Operating profit before depreciation 7,769 7,301* 6.4 Profit attributable to shareholders 4,212 4,278* (1.5) Total assets 101,120 98,126* 3.1 Loans, obligations under finance leases and bank overdrafts 33,508 31,385 6.8 Shareholders’ funds 56,827 53,893* 5.4 Financial ratios in % Operating margin – before project study and deferred expenditures written-off 55.1 53.6* 1.5% pt. – after project study and deferred expenditures written-off 52.2 53.4* (1.2)% pt. Gross debt-to-equity ratio 59.0 58.2* 0.8% pt. Return on average shareholders’ funds 7.6 8.2 (0.6)% pt. Interest cover in times 4.5 3.8 18.4 Share information Basic earnings per share in HK$ 0.83 0.85 (2.4) Dividend per share in HK$ 0.42 0.42 – Share price at 31 December in HK$ 8.25 10.20 (19.1) Market capitalisation at 31 December in HK$ million 42,560 51,563 (17.5) Operations highlights Total passenger boardings – MTR Lines in millions 777.2 758.4 2.5 – Airport Express Line in thousands 8,457 9,022 (6.3) Average number of passengers in thousands – MTR Lines weekday 2,261 2,231 1.3 – Airport Express Line daily 23.2 25.5 (9.0) Fare revenue per passenger in HK$ – MTR Lines 6.65 6.81 (2.3) – Airport Express Line 65.43 62.50 4.7 Proportion of franchised public transport boardings in % – All movements 23.5 23.5 – – Cross-harbour 58.2 57.4 0.8% pt. Proportion of transport boardings travelling to/from the airport in % – Airport Express Line 25 27 (2)% pt. * Restated to include retrospective adjustments due to changes in accounting policies 2 MTR CORPORATION LIMITED Chairman’s statement We opened the Tseung Kwan O Line in August, four months ahead of schedule, The Tseung Kwan O Line marked another milestone for the Company. 47.5% below the original project budget, and were awarded both the Penny’s The early opening and savings of over HK$14.5 billion against the original Bay Rail Link and the Tung Chung Cable Car projects. We successfully tendered budget testify to the Company’s track record of delivering new lines on time out three development packages along the Tseung Kwan O Line and and within budget. Despite some initial “teething” problems with the new continued to make good progress on development of other property projects train control system immediately after commissioning, the extension is along the Airport Railway. Despite the poor business environment, the Group offering an excellent service to the residents of Tseung Kwan O and we are achieved satisfactory profits of HK$4,212 million, a slight decrease of 1.5% over pleased with the resultant incremental patronage. 2001. Correspondingly, earnings per share were HK$0.83 compared with After carefully reviewing economic conditions in Hong Kong and in the overall HK$0.85 in 2001. interest of the Company, the Board of Directors decided not to implement a The Board of Directors has proposed a final dividend of HK$0.28 per share fare increase of 2.3% originally scheduled for April 2002. which, when combined with the interim dividend of HK$0.14 per share, Our non-fare revenues continued to grow. External consulting business would result in total dividends for the year of HK$0.42 per share. As in experienced another year of strong growth in revenues and scope particularly previous years, shareholders will be given an option to receive dividends in Mainland China, where we secured assignments in Tianjin, Shanghai, in either cash or scrip. The Government has undertaken to elect to receive its Nanjing and Shenzhen. While advertising was affected by the weak economy, entitlement in scrip form in such amount as to ensure that a maximum of station commercial revenues rose as floor space increased following the 50% of the total dividend paid by the Company will be in the form of cash. opening of the Tseung Kwan O Line and the completion of the project to Furthermore, under the project agreement for the Penny’s Bay Rail Link, the increase the range and quality of retail outlets at Central and Kowloon Government has undertaken to waive all amounts of cash dividends payable to Bay stations, including the introduction for the first time of food and beverage it up to an amount of HK$798 million at net present value. Therefore, there will outlets. In telecommunications, increased mobile phone usage generated be no cash payment of the final dividend to the Government for the year. higher revenues and we established a new subsidiary, TraxComm Limited, to exploit the opportunities expected to arise from the recent liberalisation of An eventful 2002 the Hong Kong fixed line telephone market. Octopus Cards Limited achieved The key objectives for 2002, which I highlighted in our annual report last year, further penetration in the transport market and expansion in the non-transport were achieved. Despite continued economic weakness and severe competition sector, with the number of cards in circulation increasing to 9.3 million. from buses, total patronage increased by 2.5% to 786 million as the new Tseung Kwan O Line increased our catchment area and helped reverse the We were disappointed that the Government decided not to award MTR recent declining trend. Indeed, on Christmas Eve 2002, MTR patronage the Shatin-Central Link project despite our very competitive proposal, but reached a record 3.1 million. were pleased to reach agreement with the Government on the Penny’s Bay Rail Link and, on a provisional basis, the Tung Chung Cable Car project, One strategy to increase ridership included improvement of linkages with which are planned for completion in 2005. With the reduced population other modes of transport and to this end, we extended our trial intermodal fare forecast for Hong Kong and adequate capacity in our system serving discount scheme for passengers using feeder buses and installed “Fare Saver” the northern part of Hong Kong and cross harbour routes, we agreed with machines in five shopping arcades near MTR stations to allow passengers the Government’s decision in early 2003 to defer completion of the with longer walks to stations to obtain fare discounts. We also increased North Island Link until after 2016. patronage through other well-received discount initiatives such as the “Ride 10 Get One Free” scheme, group tickets and concession fares on Despite the weak property market, we achieved a 15.6% increase in profits the Airport Express Line (AEL).
Load more

Recommended publications
  • Hansard (English)
    LEGISLATIVE COUNCIL ─ 13 October 2005 45 OFFICIAL RECORD OF PROCEEDINGS Thursday, 13 October 2005 The Council met at Three o'clock MEMBERS PRESENT: THE PRESIDENT THE HONOURABLE MRS RITA FAN HSU LAI-TAI, G.B.S., J.P. THE HONOURABLE JAMES TIEN PEI-CHUN, G.B.S., J.P. THE HONOURABLE ALBERT HO CHUN-YAN IR DR THE HONOURABLE RAYMOND HO CHUNG-TAI, S.B.ST.J., J.P. THE HONOURABLE LEE CHEUK-YAN THE HONOURABLE MARTIN LEE CHU-MING, S.C., J.P. DR THE HONOURABLE DAVID LI KWOK-PO, G.B.S., J.P. THE HONOURABLE FRED LI WAH-MING, J.P. DR THE HONOURABLE LUI MING-WAH, S.B.S., J.P. THE HONOURABLE MARGARET NG THE HONOURABLE MRS SELINA CHOW LIANG SHUK-YEE, G.B.S., J.P. THE HONOURABLE JAMES TO KUN-SUN THE HONOURABLE CHEUNG MAN-KWONG THE HONOURABLE CHAN YUEN-HAN, J.P. 46 LEGISLATIVE COUNCIL ─ 13 October 2005 THE HONOURABLE BERNARD CHAN, J.P. THE HONOURABLE CHAN KAM-LAM, S.B.S., J.P. THE HONOURABLE MRS SOPHIE LEUNG LAU YAU-FUN, S.B.S., J.P. THE HONOURABLE LEUNG YIU-CHUNG THE HONOURABLE SIN CHUNG-KAI, J.P. DR THE HONOURABLE PHILIP WONG YU-HONG, G.B.S. THE HONOURABLE WONG YUNG-KAN, J.P. THE HONOURABLE JASPER TSANG YOK-SING, G.B.S., J.P. THE HONOURABLE HOWARD YOUNG, S.B.S., J.P. DR THE HONOURABLE YEUNG SUM THE HONOURABLE LAU CHIN-SHEK, J.P. THE HONOURABLE LAU KONG-WAH, J.P. THE HONOURABLE LAU WONG-FAT, G.B.M., G.B.S., J.P.
    [Show full text]
  • Hong Kong SAR
    China Data Supplement November 2006 J People’s Republic of China J Hong Kong SAR J Macau SAR J Taiwan ISSN 0943-7533 China aktuell Data Supplement – PRC, Hong Kong SAR, Macau SAR, Taiwan 1 Contents The Main National Leadership of the PRC 2 LIU Jen-Kai The Main Provincial Leadership of the PRC 30 LIU Jen-Kai Data on Changes in PRC Main Leadership 37 LIU Jen-Kai PRC Agreements with Foreign Countries 47 LIU Jen-Kai PRC Laws and Regulations 50 LIU Jen-Kai Hong Kong SAR 54 Political, Social and Economic Data LIU Jen-Kai Macau SAR 61 Political, Social and Economic Data LIU Jen-Kai Taiwan 65 Political, Social and Economic Data LIU Jen-Kai ISSN 0943-7533 All information given here is derived from generally accessible sources. Publisher/Distributor: GIGA Institute of Asian Affairs Rothenbaumchaussee 32 20148 Hamburg Germany Phone: +49 (0 40) 42 88 74-0 Fax: +49 (040) 4107945 2 November 2006 The Main National Leadership of the PRC LIU Jen-Kai Abbreviations and Explanatory Notes CCP CC Chinese Communist Party Central Committee CCa Central Committee, alternate member CCm Central Committee, member CCSm Central Committee Secretariat, member PBa Politburo, alternate member PBm Politburo, member Cdr. Commander Chp. Chairperson CPPCC Chinese People’s Political Consultative Conference CYL Communist Youth League Dep. P.C. Deputy Political Commissar Dir. Director exec. executive f female Gen.Man. General Manager Gen.Sec. General Secretary Hon.Chp. Honorary Chairperson H.V.-Chp. Honorary Vice-Chairperson MPC Municipal People’s Congress NPC National People’s Congress PCC Political Consultative Conference PLA People’s Liberation Army Pol.Com.
    [Show full text]
  • MTR CORPORATION LIMITED 香港鐵路有限公司 (The ‘Company’) (Incorporated in Hong Kong with Limited Liability) (Stock Code: 66)
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement. MTR CORPORATION LIMITED 香港鐵路有限公司 (the ‘Company’) (Incorporated in Hong Kong with limited liability) (Stock Code: 66) APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS The Company announces the following appointments: (1) with effect from 4 July 2013, Professor Ma Si Hang, Frederick has been appointed as an independent non-executive Director (‘INED’) of the Company; (2) with effect from 4 July 2013, Ms. Wong Shui (also known as Mrs. Chan Wong Shui, Pamela) has been appointed as an INED of the Company; and (3) with effect from 4 July 2013, Dr. Yuen Tak Fai, Dorothy (also known as Dr. Chan Yuen Tak Fai, Dorothy) has been appointed as an INED of the Company. Professor Ma Si Hang, Frederick The Company announces that with effect from 4 July 2013, Professor Ma Si Hang, Frederick has been appointed as an INED of the Company. Professor Ma, aged 61, has extensive experience in banking and financial sector. He is currently an independent non-executive director and the chairman of the audit committee of Agricultural Bank of China Limited and Aluminum Corporation of China Limited, and an independent non-executive director of China Resources Land Limited and Hutchison Port Holdings Management Pte. Limited. Professor Ma is also a director of Husky Energy Inc., a non-executive director of COFCO Corporation and China Mobile Communications Corporation.
    [Show full text]
  • Citations for the Honorary Doctorates in 2018
    Citation for Professor Edward Chen Kwan-yiu Doctor of Education, honoris causa Mr Chairman, It is my honour to present Professor Edward Chen Kwan-yiu for the award of the degree of Doctor of Education, honoris causa. A well-loved university educator and administrator, Professor Chen has enjoyed an illustrious career in teaching and is widely credited as a pioneer in adopting the liberal arts model in Hong Kong and with leading Lingnan College’s smooth transition to university status. Aside from the education sector, he has helped drive social progress and advance Hong Kong’s economy through various capacities in decision-making bodies of the government including the Executive Council. Internationally, he is an esteemed economist who has generously contributed his valuable expertise to academia and multilateral organisations. Born to a grass-roots family, he was raised by a single parent since the age of 12. Aware that education is a vehicle for social mobility, he channelled his energies into his schooling and education. Through dedication and hard work, he gained admission to the elite schools, Queen’s College for secondary education, and later to The University of Hong Kong (HKU) where he received his bachelor’s and master’s degrees. Later, Professor Chen earned a Doctor of Philosophy in Economics at Oxford University. It was there that he demonstrated his extraordinary foresight and intellectual acuity through his thesis which correctly predicted and explained the spectacular growth of the four Asian Dragons. Since then, his scholarly interest has focused on Asian economic development, in particular the positive effect of foreign investment and technological change.
    [Show full text]
  • The Public Sector in Hong Kong
    THE PUBLIC SECTOR IN HONG KONG IN HONG PUBLIC SECTOR THE THE PUBLIC SECTOR IN HONG KONG his book describes and analyses the role of the public sector in the T often-charged political atmosphere of post-1997 Hong Kong. It discusses THE PUBLIC SECTOR critical constitutional, organisational and policy problems and examines their effects on relationships between government and the people. A concluding chapter suggests some possible means of resolving or minimising the difficulties which have been experienced. IN HONG KONG Ian Scott is Emeritus Professor of Government and Politics at Murdoch University in Perth, Australia and Adjunct Professor in the Department of Public and Social Administration at the City University of Hong Kong. He taught at the University of Hong Kong between 1976 and 1995 and was Chair Professor of Politics and Public Administration between 1990 and 1995. Between 1995 and 2002, he was Chair Professor of Government and Politics at Murdoch University. Over the past twenty-five years, he has written extensively on politics and public administration in Hong Kong. G O V E P O L I C Y Professor Ian Scott’s latest book The Public Sector in Hong Kong provides a systematic analysis of Hong Kong’s state of governance in the post-1997 period Ian Scott R and should be read by government officials, politicians, researchers, students and N general readers who seek a better understanding of the complexities of the city’s M government and politics. E — Professor Anthony B. L. Cheung, President, The Hong Kong Institute of Education; N T Member, Hong Kong SAR Executive Council.
    [Show full text]
  • LC Paper No. CB(1)1911/09-10(04)
    LCQ1: Chinese language proficiency requirements for appointment to the civil service Page 1 of 4 LC Paper No. CB(1)1911/09-10(04) LCQ1: Chinese language proficiency requirements for appointment to the civil service **************************************************** Following is a question by the Hon Ip Kwok-him and a reply by the Secretary for the Civil Service, Miss Denise Yue, in the Legislative Council today (January 20): Question: At present, the appointment requirements for most civil service posts stipulate that the applicants must meet the Chinese and English language proficiency requirements. Quite a number of Hong Kong permanent residents who are South Asians have relayed to me that they were not offered appointment to the civil service because they failed to meet the Chinese language proficiency requirements. In this connection, will the Government inform this Council: (a) among those persons applying for civil service vacancies at junior, middle and senior ranks in the recent three years, of the respective numbers of Hong Kong permanent residents of South Asian descent who had been appointed and rejected; (b) whether any of the permanent residents of South Asian descent in (a) were not appointed solely because their Chinese language proficiency did not meet the appointment requirements; if not, of the reasons why they were not appointed; and (c) of the details of the amendments made by the Government since the reunification in respect of the Chinese language proficiency requirements for appointment as civil servants (including expatriate civil servants) at different levels? Reply: President, As stipulated in Article 9 of the Basic Law and section 3 of the Official Languages Ordinance (Cap 5), both Chinese and English are the official languages of the Hong Kong Special Administrative Region (HKSAR).
    [Show full text]
  • 香港特別行政區排名名單 the Precedence List of the Hong Kong Special Administrative Region
    二零二一年九月 September 2021 香港特別行政區排名名單 THE PRECEDENCE LIST OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION 1. 行政長官 林鄭月娥女士，大紫荊勳賢，GBS The Chief Executive The Hon Mrs Carrie LAM CHENG Yuet-ngor, GBM, GBS 2. 終審法院首席法官 張舉能首席法官，大紫荊勳賢 The Chief Justice of the Court of Final The Hon Andrew CHEUNG Kui-nung, Appeal GBM 3. 香港特別行政區前任行政長官(見註一) Former Chief Executives of the HKSAR (See Note 1) 董建華先生，大紫荊勳賢 The Hon TUNG Chee Hwa, GBM 曾蔭權先生，大紫荊勳賢 The Hon Donald TSANG, GBM 梁振英先生，大紫荊勳賢，GBS, JP The Hon C Y LEUNG, GBM, GBS, JP 4. 政務司司長 李家超先生，SBS, PDSM, JP The Chief Secretary for Administration The Hon John LEE Ka-chiu, SBS, PDSM, JP 5. 財政司司長 陳茂波先生，大紫荊勳賢，GBS, MH, JP The Financial Secretary The Hon Paul CHAN Mo-po, GBM, GBS, MH, JP 6. 律政司司長 鄭若驊女士，大紫荊勳賢，GBS, SC, JP The Secretary for Justice The Hon Teresa CHENG Yeuk-wah, GBM, GBS, SC, JP 7. 立法會主席 梁君彥議員，大紫荊勳賢，GBS, JP The President of the Legislative Council The Hon Andrew LEUNG Kwan-yuen, GBM, GBS, JP - 2 - 行政會議非官守議員召集人 陳智思議員，大紫荊勳賢，GBS, JP The Convenor of the Non-official The Hon Bernard Charnwut CHAN, Members of the Executive Council GBM, GBS, JP 其他行政會議成員 Other Members of the Executive Council 史美倫議員，大紫荊勳賢，GBS, JP The Hon Mrs Laura CHA SHIH May-lung, GBM, GBS, JP 李國章議員，大紫荊勳賢，GBS, JP Prof the Hon Arthur LI Kwok-cheung, GBM, GBS, JP 周松崗議員，大紫荊勳賢，GBS, JP The Hon CHOW Chung-kong, GBM, GBS, JP 羅范椒芬議員，大紫荊勳賢，GBS, JP The Hon Mrs Fanny LAW FAN Chiu-fun, GBM, GBS, JP 黃錦星議員，GBS, JP 環境局局長 The Hon WONG Kam-sing, GBS, JP Secretary for the Environment # 林健鋒議員，GBS, JP The Hon Jeffrey LAM Kin-fung, GBS, JP 葉國謙議員，大紫荊勳賢，GBS, JP The Hon
    [Show full text]
  • The Transition of Hong Kong Administrative Officer Grade and Its Mismatch with the Public Expectation
    Research Report: The Transition of Hong Kong Administrative Officer Grade and Its Mismatch with the Public Expectation March 2013 Erik Chan Kai-cheung Ivan Chu Siu-lun Felix Choi Pak-hei Research Report: The Transition of Hong Kong Administrative Officer Grade and Its Mismatch with the Public Expectation Foreword Administrative Officer (AO) Grade has been a critical team in the Hong Kong government. The Civil Service Bureau (CSB) of Hong Kong Special Administrative Region (HKSAR) claimed the grade is “a cadre of multi-skilled professional administrators who play a key role in the Government of HKSAR”. However, the handover of Hong Kong has led to the change of regime and administration. Being the top management of the civil servants, AO Grade has gone through changes and transition, namely the launch of Principal Officials Accountability System (POAS) and the emergence of the civil society. This article aims to comprehend the two transitions after the handover. The two transitions have altered the job nature of AOs and the policy formulation process, which eventually created a mismatch between the unchanged AO Grade and the new public expectation towards the Grade. This paper will first assess comprehensively the development of the civil society and the POAS of Hong Kong, together with the analysis of how the two transitions have affected the AO Grade. Interviewing current and former AOs would provide empirical basis to testify the arguments. The findings aim to shed light on the roots of the mismatch to better explain the situation of the AO Grade in today’s SAR Government. - 2 - Develop in Unity and Sustain Prosperity Research Report: The Transition of Hong Kong Administrative Officer Grade and Its Mismatch with the Public Expectation Table of Content Introduction Chapter 1: Literature Review A) The AO Grade i.
    [Show full text]
  • Journal of Current Chinese Affairs
    China Data Supplement February 2007 J People’s Republic of China J Hong Kong SAR J Macau SAR J Taiwan ISSN 0943-7533 China aktuell Data Supplement – PRC, Hong Kong SAR, Macau SAR, Taiwan 1 Contents The Main National Leadership of the PRC 2 LIU Jen-Kai The Main Provincial Leadership of the PRC 30 LIU Jen-Kai Data on Changes in PRC Main Leadership 37 LIU Jen-Kai PRC Agreements with Foreign Countries 43 LIU Jen-Kai PRC Laws and Regulations 45 LIU Jen-Kai Hong Kong SAR 48 Political, Social and Economic Data LIU Jen-Kai Macau SAR 55 Political, Social and Economic Data LIU Jen-Kai Taiwan 59 Political, Social and Economic Data LIU Jen-Kai ISSN 0943-7533 All information given here is derived from generally accessible sources. Publisher/Distributor: GIGA Institute of Asian Studies Rothenbaumchaussee 32 20148 Hamburg Germany Phone: +49 (0 40) 42 88 74-0 Fax: +49 (040) 4107945 2 February 2007 The Main National Leadership of the PRC LIU Jen-Kai Abbreviations and Explanatory Notes CCP CC Chinese Communist Party Central Committee CCa Central Committee, alternate member CCm Central Committee, member CCSm Central Committee Secretariat, member PBa Politburo, alternate member PBm Politburo, member BoD Board of Directors Cdr. Commander CEO Chief Executive Officer Chp. Chairperson COO Chief Operating Officer CPPCC Chinese People’s Political Consultative Conference CYL Communist Youth League Dep.Cdr. Deputy Commander Dep. P.C. Deputy Political Commissar Dir. Director exec. executive f female Gen.Man. General Manager Hon.Chp. Honorary Chairperson Hon.V.-Chp. Honorary Vice-Chairperson MPC Municipal People’s Congress NPC National People’s Congress PCC Political Consultative Conference PLA People’s Liberation Army Pol.Com.
    [Show full text]
  • Professor Frederick Ma Si-Hang, Chairman of MTR Corporation Limited, Received an Honorary Doctor of Social Science
    City University of Hong Kong Biographies of the 2016 Honorary Doctorates Professor Frederick Ma Si-hang, Chairman of MTR Corporation Limited, received an Honorary Doctor of Social Science. Professor Ma has an outstanding record of professional achievements. Since graduating from the University of Hong Kong in 1973, he has taken up major positions in various local and overseas banks, other financial institutions and major companies, including Chase Manhattan Bank, Royal Bank of Canada Dominion Securities, JP Morgan Chase Co., Kumagai Gumi (HK) Limited and Pacific Century Cyberworks Limited. In 2002 he joined the Hong Kong SAR Government as the Secretary for Financial Services and the Treasury, and in 2007 he assumed the post of Secretary for Commerce and Economic Development. In 2009, he was appointed a Member of the International Advisory Council of China Investment Corporation, in 2013, he was made a Member of the Global Advisory Council of the Bank of America, and currently, he holds the positions of Independent Non-Executive of the FWD Group, Director of Husky Energy Inc., and Non-Executive Director of China National Cereals, Oils and Foodstuffs Corporation (COFCO). With his extensive experience in the financial sector, Professor Ma was appointed an Honorary Professor of the School of Economics and Finance at the University of Hong Kong in 2008, a Professor of Practice (Finance) at the Institute of Advanced Executive Education at the Hong Kong Polytechnic University in 2012, and an Honorary Professor of the Faculty of Business Administration at The Chinese University of Hong Kong in 2013. In 2014, he was conferred an Honorary Doctorate in Social Sciences by Lingnan University.
    [Show full text]
  • 132491 Eng.Indd
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement. AGRICULTURAL BANK OF CHINA LIMITED 中國農業銀行股份有限公司 (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1288) Announcement of the Resolutions of the Board of Directors A meeting of the board of directors (the “Board”) of Agricultural Bank of China Limited (the “Bank”) was held at the Bank’s head offi ce on 5 January 2011 and was attended by members of the Board in person. 12 directors were entitled to attend and all of them were present at the meeting. The meeting was conducted in compliance with the applicable laws, administrative rules, regulations, articles of association of the Bank and the procedural rules of the Board. Mr. Xiang Junbo, the chairman of the Bank, presided over the meeting. The following resolutions were considered and passed at the meeting: 1. Resolution on the fi xed assets investment budget for 2011 Voting result: 12 valid votes, including 12 votes in favour of and 0 vote against this resolution and 0 abstained vote. This resolution will be proposed for consideration and approval at the Bank’s annual general meeting for 2010. 2. Resolution on matters in relation to the issue of subordinated bonds by the Bank Voting result: 12 valid votes, including 12 votes in favour of and 0 voted against this resolution and 0 abstained vote.
    [Show full text]
  • Proceedings of the 18Th SIGMORPHON Workshop on Computational Research in Phonetics, Phonol- Ogy, and Morphology
    SIGMORPHON 2021 18th SIGMORPHON Workshop on Computational Research in Phonetics, Phonology, and Morphology Proceedings of the Workshop August 5, 2021 Bangkok, Thailand (online) ©2021 The Association for Computational Linguistics and The Asian Federation of Natural Language Processing Order copies of this and other ACL proceedings from: Association for Computational Linguistics (ACL) 209 N. Eighth Street Stroudsburg, PA 18360 USA Tel: +1-570-476-8006 Fax: +1-570-476-0860 [email protected] ISBN 978-1-954085-62-6 ii Preface Welcome to the 18th SIGMORPHON Workshop on Computational Research in Phonetics, Phonology, and Morphology, to be held on August 5, 2021 as part of a virtual ACL. The workshop aims to bring together researchers interested in applying computational techniques to problems in morphology, phonology, and phonetics. Our program this year highlights the ongoing investigations into how neural models process phonology and morphology, as well as the development of finite-state models for low- resource languages with complex morphology. We received 25 submissions, and after a competitive reviewing process, we accepted 14. The workshop is privileged to present four invited talks this year, all from very respected members of the SIGMORPHON community. Reut Tsarfaty, Kenny Smith, Kristine Yu, and Ekaterina Vylomova all presented talks at this year’s workshop. This year also marks the sixth iteration of the SIGMORPHON Shared Task. Following upon the success of last year’s multiple tasks, we again hosted 3 shared tasks: Task 0: SIGMORPHON’s sixth installment of its inflection generation shared task is divided into two parts: Generalization, and cognitive plausibility. In the first part, participants designed a model that learned to generate morphological inflections from a lemma and a set of morphosyntactic features of the target form, similar to previous year’s tasks.
    [Show full text]