报告名称:MTR Corp.(00066.HK)Early review of the Fare Adjustment Mechanism creates uncerta
报告类型:港股研究
报告日期:2016-03-23
研究机构:摩根士丹利
股票名称:港铁公司
股票代码:00066
页数:6
简介:Quick comment – we think early FAM review adds uncertainty to the stock… The Hong Kong government issued a letter to MTRC on March 22, asking the corporation to advance by one year a joint review with the government on the Fare Adjustment Mechanism (FAM). According to the operating agreement that the government and MTRC entered in 2007, the two parties may review the FAM every five years. The last review was completed in 2013 and the next scheduled review is due for completion in 2018. The government's objective is to advance the review by one year, so that the new FAM can take effect in 2017.
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