Hong Kong protests cost embattled MTR operator HK$1.6b

[HONG KONG] Damage to Hong Kong's subway from six months of protests will cost operator MTR Corp Ltd about HK$1.6b (S$278.7 million), the company said in a filing to the Hong Kong stock exchange on Thursday.

The mass-transit operator said it expects its 2019 profit to be less than a year ago because of the social unrest, which has affected its transport operations as well as retail and rental businesses. MTR said its overall financial position remains sound, though passenger use of its services from July to November slumped 14 per cent from a year earlier.

Hong Kong's subway system has been targeted during the anti-government demonstrations, with sometimes violent clashes between police and protesters leaving stations badly damaged.

BLOOMBERG