Calls for Discovery Bay developer to reveal finances
Lantau developer that wants to charge 9.5 per cent more in transport fares is urged to be transparent in the wake of losses from ferry fire
The transport operator that serves Discovery Bay is facing calls to make its financial records public, as it emerged that the company lost a HK$9.8 million ferry to a fire a few years ago.
Now, doubts are raised as the resort's developer, HKR International, again seeks approval from the Transport Department for a fare rise of 9.5 per cent on ferries to and from Central and buses around the Lantau development.
Amy Yung Wing-sheung, district councillor for the area, noted HKR did not mention the multimillion-dollar ferry that burned down in its 2011 application.
"Why should we bear the costs of their mistakes?" Yung asked yesterday. "The fact that the insurance company has not made payment even three years on says there's something wrong with their management."
The vessel is mentioned in HKR's 2010-11 annual report as being damaged beyond repair. Yung said it had been undergoing repairs at a shipyard when the blaze broke out during the financial year ended March 31, 2010.
In response to the criticism, HKR called it "groundless speculation" to say the insurer was unwilling to pay up. It said it met all accounting standards as required by the government.