Financing of infrastructure - the MCTR experience and future

We are a railway in Hong Kong soon to be a Special Administrative Region (SAR) of China.

This is hardly what would spring to mind as an entity in which investors would wish to invest.

Some years ago I recall being laughed at in the Wall Street when contemplating the prospect of seeking long-term investment grade credit rating.

The Corporation is 100% owned by the Hong Kong Government.

Whilst we are wholly owned by that Government we act independently of it whilst enjoying its support.

We are formed for the principal purpose of constructing and operating on prudent commercial principle - a mass transit railway system having regard to the reasonable requirement of the public transport system of Hong Kong.