The so-called 'Link Reit saga' caught my eye as I browsed through newspaper articles online. My understanding of the issue is admittedly superficial but it seems that the government is attempting to privatise over $20 billion worth of Housing Authority assets.
Legal controversy aside, I believe that privatisation could be beneficial for the economy.
What I disagree with, however, is the approach adopted in this particular instance. The process seems to have been rushed and poorly thought through. The human aspect of the deal was sorely neglected. That a senior citizen such as Lo Siu-lan could challenge the government - by rightly exercising her rights as a citizen - is a testament to the government's incompetence.
The first thing my introductory risk management class taught me was that you always have to consider the interested parties before making any decision. In this case, private investors, investment banks and institutional groups were all taken into consideration when the decision to list Link Reit was made. But the concerns of the community were largely ignored.
I wonder what policy makers were thinking.
Scarlett O'Hara in Gone with the Wind understood the importance of land. Donald Trump of The Apprentice understands why real estate strikes such a personal chord in people's hearts. So why didn't the government sufficiently anticipate the public's response?