27 September 2001
KCRC Amendment Bill 2001
Commenting on the publication of the Kowloon-Canton Railway Corporation (Amendment) Bill 2001, the Chairman and Chief Executive of the Corporation, Mr K Y Yeung, said today that the Government had invited him to accept appointment as Chief Executive Officer of the KCRC, subject to the enactment of the amending Bill. Mr Yeung said that, after careful consideration, he would be prepared to accept the offer.
"I would be happy to stay on for another two years. This would enable me to steer the Corporation through to the completion of West Rail," he said.
"The Corporation is also at a crucial stage of its development, with at least five major railway lines under various stages of construction or planning. The next two years will demand much more of my time in leading the management of the Corporation.
"I have consulted all Executive Directors and other senior colleagues as to whether or not I should accept the offer of becoming their Chief Executive Officer. All of them, without exception, have urged me to stay on. They have pledged me their full and continuing support."
Mr James Blake, Senior Director, Capital Projects, said, "Our record speaks for itself. East Rail has been vastly improved and Light Rail is being expanded. Civil construction of West Rail, the largest infrastructure project in Hong Kong since the Airport, is virtually complete. Under Mr Yeung’s continuing leadership, West Rail will come into service before December 2003, ahead of time and well within budget."
Mr Samuel Lai, Senior Director, Finance and Management, said Mr Yeung has completely overhauled the Corporation’s planning, internal management and control systems to make them much more transparent, efficient and accountable.
"He has contained operating costs, increased revenues and doubled our operating profits over the past five years, despite the worst recession that has hit Hong Kong in recent years. My colleagues and I will continue to give him our full support."