That is not correct. MTR is a public/private corporation. Only 23% of its shares were sold to private shareholders. Of course it is run for profit. It should be. Its Board is made up of representatives from business, the civil community and the State. Whether the HK Authority subsidises the tickets, or use some other form of cross-subsidy, I don't know. It is a huge international corporation and runs national & international rail links as well as the inner city light rail routes, develops properties, etc. etc. But it stands to reason that in the kind of society that exists there, ie poor Chinese, thousands of foreigners and rich banker types, (all of whom use the service btw) some form of subsidy will be used.  

The primary difference between MTR and Transnet is efficiency. Your position regarding subsidies is based on prejudice, and you are quite prepared to throw the baby out with the bathwater because of it.