Bank Consortium Trust plans to raise its paid-up capital from HK$190 million to HK$300 million, giving a stronger capital base to support its Mandatory Provident Fund (MPF) industry schemes. The schemes are aimed at the highly mobile workforce in the catering and construction sectors. Chairman Bernard Charnwut Chan said Bank Consortium Trust needed to prepare for an anticipated increase in business volume in the schemes for casual workers. 'After becoming the service provider of the MPF industry schemes, we have lifted our market share expectation in the MPF to 15 per cent, from 5 per cent,' Mr Chan said. 'The 500,000 employees working in the catering and construction industries represent about 14 per cent of the total workforce in Hong Kong.' That could 'bring in substantial business volume to Bank Consortium Trust'. He said the extra HK$110 million in capital would be stumped up by the trust's ten member banks according to their respective stakes. The seven core banks with a 13.16 per cent shareholding each are Asia Commercial Bank, Chekiang First Bank, Dah Sing Bank, Liu Chong Hing Bank, Shanghai Commercial Bank, Wing Hang Bank, and Wing Lung Bank. Last month, Bank Consortium Trust and Bank of East Asia won a tender to become the two service providers for the MPF industry schemes. The schemes are designed for the construction and catering industries which have many daily paid casual workers who would be difficult to cover in standard plans for workers paid monthly. Normal MPF plans could involve workers changing their MPF service providers when they change their job. In the industry schemes, employees can stay in the same plan when they switch jobs within the sector provided their new employer is in the same scheme. Mr Chan said the trust's member banks had trained 3,000 staff to sell the MPF plans. They would first target corporate clients of the banks which owned restaurants and construction companies. At a later stage, MPF sales staff would approach small restaurants and food stalls, Mr Chan said. The ten member banks would use their total of 280 branches to collect the daily contributions to the industry schemes, he said.