Hong Kong rail giant warns of cash crunch despite Northern Metropolis land grant

Hong Kong’s MTR Corp has warned that it will face significant cash flow pressures over the next few years, even with the government’s grant of eight new sites for developing the Northern Link rail project in the Northern Metropolis. The warning came as the Liber Research Community cast doubt on MTR Corp’s model of using property developments to fund rail construction, pointing out that about a third of the 18 sites granted in total were idle plots where developers had opted for cash compensation...