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Hung Shui Kiu Industrial Park Operator Plans Bond Issuance and Tax Proposals
The incoming chairman of the Hung Shui Kiu Industry Park Company said the operator will consider issuing bonds and propose tax concessions to attract businesses. The company will start with a HK$10 billion government injection.
May 17, 7:12 AM·1m read1 source
South China Morning PostAudio version
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The incoming chairman of the Hung Shui Kiu Industry Park Company said the operator will consider issuing bonds and propose tax concessions to attract businesses to the Northern Metropolis area. Veteran industrialist Jeffrey Lam Kin-fung made the remarks on Sunday. He is scheduled to begin a three-year term as chairman on June 1.
Lam said the company will rely on the government’s HK$10 billion injection to begin operations. He added that collaboration with different sectors could also attract capital. “We will keep an eye on our budget,” Lam told a television news programme.
“Bond issuance is also feasible, as it does not involve using public money. ” Lam stated that the company would consider issuing bonds once infrastructure is ready and companies are located in the park.
The operator also plans to propose tax concession measures to the government. The goal is to encourage enterprises to establish operations in the industrial park. Lam said the company will monitor its budget and consider bond issuance when funding needs arise after initial operations are established.
