Hong Kong

Automated Systems takes over i-Sprint Innovations

Automated Systems takes over i-Sprint Innovations

The HK$47.4mn purchase to accelerate expansion in IT security products and solutions markets in Asia-Pacific region

22-storey Manley Commercial Building for sale

Sale by public tender of office building with estimated monthly rental income of HK$1.3mn to close on 28 April.

Hang Seng joins forces with Industrial Bank

The MOU aims to deepen Hang Seng’s long-term commitment to the Mainland market.

1.36mn passengers expected during Ching Ming Festival

An average of about 340,000 daily will pass through Lo Wu control point.

Hong Kong statutory minimum wage pegged at $28 per hour

The Labour Department released the statutory minimum wage reference guidelines to aid employers and workers in understanding the Ordinance's practical application.

Securities & Futures Appeals Tribunal names 12 new members

The appointees to replace outgoing members for two years starting April 1.

New residential mortgage drawdowns down 16% to $18.3bn

Approvals for primary market transactions rose 26.5% and secondary market transactions 9.9% but the number of new applications fell 10.2%.

Financial Services & the Treasury Bureau to review MPF regulations

The proposals are aimed  to  establish a statutory regulatory regime for MPF intermediaries to better protect the 2.5mn MPF scheme members.

China Metal Recycling profit up 85% to HK$887mn

Growth trend seen to continue as proposed JV between the company and Guangdong Materials Group would enhance and refine its collection network.

Office floors in Golden Star Building for sale by public tender

The total gross area of the 2nd to the 4th floor comprises approximately 10,350 sq ft.

Process to return collateral to Lehman minibond customers expedited

Customers in the 16 Lehman Brothers' Minibond distributing banks will recover much higher amounts of their initial investments.

HK approves 49 building plans in February

Hong Kong's Buildings Department approved 49 building plans in February, with 17 on Hong Kong Island, 16 in Kowloon and 16 in the New Territories.

HK Health Protection Scheme to give benefit to those who are least likely to take out insurance:Mercer

The healthy and able bodied, who will be needed to subsidize the HPS, have no clear incentive to voluntarily sign up.

Government granted $2.3mn in quake aid

A Disaster Relief Fund has been approved for two relief agencies to undertake aid projects for earthquake victims in Yunan Province and in Japan.

Escalating cost for HK's office spaces drives demand for Grade B Buildings:Colliers

Spiking rental for commercial spaces in HK has recently raised the question mark on the continued attractiveness of HK as the destination for Asia setup.

HSBC Global Asset Management announces senior appointments for institutional business

Patrice Conxicoeur and Julie Koo are appointed as Global Head of Isurance Coverage and Head of Institutional Business, Asia Pacific, respectively.

MTR fares to increase by 2.3% in June

The fare hike is due to the Fare Adjustment Mechanism which is linked to the y-o-y percentage changes in the Composite inflation and Nominal Wage Index for transportation.