• Thu
  • Dec 25, 2014
  • Updated: 5:10am
Occupy Central
NewsHong Kong
POLITICS

Occupy Central to hit Hongkong Land, Wharf Holdings hardest, UBS says

Key protest organiser says UBS report will put pressure on government to offer genuine reform

PUBLISHED : Tuesday, 01 April, 2014, 11:48pm
UPDATED : Wednesday, 02 April, 2014, 10:45am
 

Hongkong Land and Wharf Holdings will suffer the most should the Occupy Central movement carry out its threat to block streets in the heart of the city, a study by investment bank UBS says.

That is because Hongkong Land offices are concentrated in the central business district, while Wharf owns shops targeting tourists in Tsim Sha Tsui and Causeway Bay.

Swire Properties, Hysan Development and The Link Reit will be less affected because of their properties' geographic locations and target customers, the report adds. The study was the first UBS has conducted on the impact on business of the civil disobedience campaign.

A key organiser of Occupy Central said he expected the report to pressure the government because it showed their efforts had caught the attention of foreign investors.

"The administration should offer the city genuine universal suffrage to prevent, or at least scale down, Occupy Central," Chinese University sociologist Dr Chan Kin-man said.

Chan doubted the report's accuracy, noting that UBS had not contacted the movement's organisers before the research was published.

Daniel Wong, chief executive of Midland IC&I, agreed that Hongkong Land could be affected the most because it owned a lot of shops in Central. "But Occupy Central is a short-term movement. The impact will be insignificant," he said.

Occupy Central is a plan to mobilise more than 10,000 people to block streets in Central if the government fails to deliver a satisfactory political reform proposal for the election of the chief executive in 2017.

The report said the protest would bring instability to business activities, particularly for companies whose core offices were in the district. Shopping facilities that targeted foreign tourists would be hit, it added.

Hongkong Land owns at least 13 business and retail buildings in Central, including all three Exchange Squares, the Landmark Atrium, and the Landmark Mandarin Oriental.

The impact of the movement would not be confined to Central because if it was prolonged it would also discourage tourism, the report said. As a result, Wharf, which owns two of the city's most popular shopping malls, Harbour City and Times Square, would also be hit.

Citing the recent unrest in the Thai capital Bangkok, UBS said a prolonged political incident could cause stock market volatility and warned that it might take a long time for the city to regain the confidence of foreign investors and travellers.

 

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11

This article is now closed to comments

John Adams
What's all the fuss?
.
Central is already half occupied by the illegally parked cars of all the tycoons and the cars of their TaiTais ( and - in some cases Er Nais) doing shopping or Yam Cha. , a great many of which are surely employees of Hongkong Land and Wharf Holding , not to mention the other cartel member companies I see in the bar graph ( Hysan, Hang Lung etc) .
.
Actually it seems the tycoons for once are actually giving the democracy movement a helping hand !
Dao-Phooy
Yawn - this huge overblown speculation on OC is so tedious. An unexpected hail storm would cause more chaos and traffic in Central because there are no contingency plans. As if the police haven't been planning their tactics to deal with demonstrators! Is HK so pathetic it can't deal with any demonstration?
Hollander323
"The administration should offer the city universal suffrage, to prevent or at least scale down Occupy Central" Chinese University sociologist Dr. Chan Kin Man said ....What kind of logic is this? Is this the kind of senses used by Dr Chan when he teaches his students in the University. What a shame?
ejmciii
Everyone and his brother who wants to clamp down on free speech has been crowing about Occupy Central this and Occupy Central that and there has been nothing happening to date. The Occupy Central people at the end of the day want to get the government to listen and if the government would do so, rather than ignoring the words of their theoretical constituents (I know the government's only constituent is Beijing, but in theory they work for the citizens and residents of HK). These studies are equally amusing because it is not like there is a broad overarching plan on the internet that the Occupy Central people will implement and when same will happen. It is just another bugbear that the Beijing sycophants pump up as an excuse to let loose the police state to stop people from speaking out against what they see as a violation of the agreements that Beijing made for universal suffrage.
laikakee
Central OL
What's the fuss? Central has been Occupied by foreign workers every Sunday all these years, nothing new. I have stopped shopping there during weekends. The government needs to 'deploy' thousands of rubbish bins for all the 'lapsap' that's going to be left behind. Or even better, to increase the government revenue, by issuing tickets to the litter bugs during this carnival.
aplucky1
well if these rich greedy HONGS, wharf and alike loose a penny then we should deploy the PLA with their tanks in central
that will fix it
everything must be done to protect li ka s h i t's companies
Demking
Hi! To defend democracy, justice and human rights in China, I just started a petition on the White House petitions site, We the People. Will you sign it? ****wh.gov/lp6Jz or ****petitions.whitehouse.gov/petition/urge-chinas-authority-comply-udhr-and-ratify-iccpr-benefit-everyone-world/hXqnNyJw
impala
What? Whaaaat? And: how? Hooooow is this supposed to work?

Hong Kong land owns buildings in Central. Plenty of them. These buildings are rented out to various tenants. Mostly offices, many shops etc. Whatever really.

These tenants have all signed leases. The lease states how much rent they pay to Hong Kong Land. Jolly ghee.

Now a bunch of students and other protestest go sit on the pavement and the roads outside these buildings. And then what? Whaaaaat?

Are the tenants now going to pay less rent to Hong Kong Land? Is there something in the lease that says 'if a road near your building is blocked by protesters, then never mind the rent for that month'?

How? Hooooow is Hong Kong Land going to be harmed by some potentially minor inconvenience for their tenants?

Silly scare-mongering if anything.
johnyuan
We all should know that Occupy Central its focus is not the D-day itself. It is the journey getting there. Use your judgment and look what has had taken place since we are notified.
.
The impact study is waste of our time to know. It is just obliging the affected for whatever intended move they may have. How did the researchers come up with the cost?
hkqx
Will the OC people smart enough to read the chart ?
Dear Editor : Is UBS supporting OC ? Are you avoiding this important question ?

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