HK Railway Company boosts 2.79% in Australia market
Source: Internet
Author: User
KeywordsHong Kong dollar Tietong
The Hong Kong Railway Corporation (00066-HK) has now risen 2.79% to HK $23.95, a deal of HK $76.975 million, which is now winning the big city and the index is up 0.55%. The unit was boosted by the Thursday morning News about its first entry into the Australian market, as any profit contribution would be limited. The MTR subsidiary has won a contract to operate the Melbourne Railway for a period of 8 years, which can be extended for another 7 years. According to the South China Morning Post, a spokesman for the Hong Kong Railway said it was premature to estimate the potential revenue from the contract. But this kind of business-like utility will only provide a stable but small amount of recurrent revenue to the MTR, which normally moves with Hong Kong's real estate stock because it is a quasi developer unit.
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