16 June 2003
Launch of first KCRC retail bond covered in Trackrecord
In a first for the Kowloon-Canton Railway Corporation (KCRC), it was announced on 20 May that the Corporation would launch a retail bond issue for the purpose of financing its capital projects. The issue, which was oversubscribed 2.5 times, was doubled in size from its original HK$500 million to HK$1 billion.
The retail bond, and the signing ceremony held for its launch, are both covered in the current Trackrecord.
Another story of great importance for the Corporation was the unveiling of the proposed fares for West Rail at a Legco transport panel meeting on 23 May. During the meeting, KCRC Chairman Mr Michael Tien said that the Corporation had based the proposed fare structure not on distance but on competition with buses and savings in journey time.
Also in the current issue is a story on the completion of the last segment on 30 April for the 8.4-kilometre Ma On Shan Rail viaduct. This section represents 74% of the entire Ma On Shan Rail alignment, which runs 11.4 kilometres from Tai Wai to Wu Kai Sha.
In other stories we look at recent awards won by the Corporation’s frontline staff: one by a KCRC Quality Control Circle during the Hong Kong Quality Control Circle Award 2003; and another by two KCRC apprentices who were among the 10 awardees honoured at the 2002 Outstanding Apprentice Scheme of the Vocational Training Council.
Trackrecord, the official staff newsletter of the KCRC, is published once a month and distributed to all employees, the Corporation’s key stakeholders, consulates, senior government officials, the media and community leaders.