What they think ...

PUBLISHED : Thursday, 24 April, 2003, 12:00am
UPDATED : Thursday, 24 April, 2003, 12:00am

The travel expert

World Challenge Travel Service president Desmond Lee Yu-tai welcomed the government's announcement, despite the fact that his firm will not gain much from the measures.

'As a travel agency we will not benefit much from the exemption of rates, water and sewage charges.'

'The only thing we can benefit from is the waiver of the $5,800 licence fees for one year,' Mr Lee said.

'But if a company cannot afford $5,800, how can it operate?'

Mr Lee said he had not decided whether to apply for one of the new bank loans guaranteed by the government.

'The scheme can effectively preserve jobs but does not directly give us cash-flow relief.'

'In terms of the small size of my company, the loan we can apply for will be minimal,'' said Mr Lee, who is also the honorary consul for Fiji in Hong Kong.

He proposed a reduction of licence fees during the regional financial crisis in 1998, but the idea was rejected.