TraHK scheme parochial

PUBLISHED : Wednesday, 03 November, 1999, 12:00am
UPDATED : Wednesday, 03 November, 1999, 12:00am

Would the promoters of TraHK explain why only Hong Kong ID card holders are eligible for the loyalty bonus? The measure of loyalty is the time period that the shares are held for, and therefore should have nothing to do with abode.

By paying loyalty bonuses only to Hong kong ID card holders, other groups of retail investors are in effect subsidising these Hong kong residents.

There are many people who have invested and have faith in Hong kong, but many not be ID card holders.

The reason for this discrimination should be made clear, otherwise I fail to see how this scheme can be attractive to investors other than Hong kong ID card holders.

For all its claims about being an international financial centre, this very parochial move shows that Hong Kong's public relations efforts are just that...public relations.

F Y LEE Taikoo Shing