Chief Executive Tung Chee-hwa has denounced the 'mastermind' behind the legal challenge to the listing of the Link Reit, saying the interests of Hong Kong people had been ignored.
'The Link was set up for the overall interest of society after long-term planning,' he said. 'Someone is stirring things up. This will damage the interests of Hong Kong.'
Financial Secretary Henry Tang Ying-yen criticised 'certain parties' for mounting the challenge, saying they had 'cast a shadow' over the initial public offering (IPO) with their last-minute action.
Speaking at a meeting with media executives, Mr Tung said that in such 'over-politicised circumstances', damage would be done to Hong Kong's business environment and to its image as an international financial centre. 'The mastermind is very, very wrong for ignoring Hong Kong's interest. This is very bad for Hong Kong,' he said, without naming the alleged mastermind.
Mr Tang said those who opposed the initial public offering should have voiced their concerns during the Housing Authority's 18-month exploration of the issue.
'In the past 18 months there have been plenty of opportunities for all sectors of the community to contribute and give their views,' he said.