New MTRC body to tick finance plans

MTR Corporation (0066) is to set up a finance and investment committee chaired by Andrew Brandler, who also chairs the railway operator, and a technology advisory panel effective from February 1.

The committee will review proposals from the executive directorate and provide an assessment to the board on the annual budget and financing plan, preferred financing model and dividend policy.

The committee will also cover bank borrowings or other financing agreements, investments and disposals, parent company guarantees, expenditure and revenue contract awards and the strategy for property development projects in Hong Kong.

Moreover, it will be responsible for the tender awards for property development projects in Hong Kong, the investment caps for MTRC's businesses outside Hong Kong and proposals for new capital works projects in Hong Kong.