MTR's (HKG:0066) new projects worth more than HK$100 billion signal an "exciting" growth period for the rail operator, The Standard reported Wednesday, citing chairman Rex Auyeung Pak-kuen.
The transport operator is moving ahead with the extension of the Tung Chung and Tuen Ma lines and the construction of a new station at Hung Shui Kiu, the report said, citing Auyeung's remarks at MTR's 2025 annual general meeting.
MTR is also seeking public support for a 9.4% fare increase for its Airport Express line to fund a HK$2 billion upgrade, according to The Standard, citing Auyeung.
The fare increase is the first in eight years, the report said.
MTR will also spend more than HK$65 billion in the next five years to improve railroad maintenance, according to the newspaper.
Shares slipped 1% during afternoon trading on Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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