Calls by some Causeway Bay retailers for a 40 per cent rent cut have been rejected by landlords as 'showing no respect for business ethics'. About 100 shop operators from the Hang Lung Centre took to the street yesterday to petition the Hang Lung Development Company in Central. They wanted a 40 per cent cut and rents waived for three months. A Hang Lung Group spokesman said: 'We have been strictly observing laws and business ethics as we have been acting under the agreed tenancies. Many of our tenants have been renting our premises for more than 10 years and they have been making good money. 'When their business was good, we had never put up rents before the expiry of the tenancies. For the same reason, we have no obligation to adjust our rents in the middle of the tenancy period despite a business downturn.' The shops, sized from 400 square feet to about 2,000 sq ft, are charged rents of up to $100,000 a month. Shopkeepers said business had dropped by more than a half since October.