Hong Kong businesses are good at promoting consumer deals involving prepayment. It is high time for the authorities concerned to look into it.

Lawrence Choi, Wan Chai

Cathay Pacific firings are not discriminatory

Also, the inference that because some are getting vaccinated, others won’t need to is really the epitome of selfishness, which is unfortunately common behaviour among the unvaccinated crowd. Such individuals expect others to get vaccinated so that they can enjoy the benefits of living in a virus-free community. Such an attitude is disrespectful to those who, fully aware of the potential adverse effects, nevertheless took the vaccine in a community effort to beat the virus.

Furthermore, Mr Lee expects the government to take action to protect the unvaccinated, particularly those who get sacked. That runs counter to the government’s plan to raise the vaccination rate so that life can return to normal.

The government should serve its people and leave no one behind, but billions have been lost in the pandemic and it just cannot be justifiable to cater to the whims of those who don’t seek to contribute to ending the pandemic.

And honestly, as an employer, would you employ someone who doesn’t trust overwhelming scientific evidence, doesn’t have team spirit and cannot see the bigger picture? Opting not to hire those individuals or even firing them has nothing to do with the Equal Opportunities Commission, as Mr Lee tries to imply, it is an objective assessment of a person’s state of mind that amounts to no discrimination.

Jose Alvares, Macau

For boosters, revise format of vaccine certificate

If the format is suitably revised, this will enable people, following their jabs, to use the newly issued certificates to travel without the need to apply for another one which includes such information.

The information meeting travel requirements in respect of Covid-19 could be kept current and updated in the event that any further booster vaccination exercises are launched in the future.

B.S. Hoggard, Yuen Long

Safeguards will help Hong Kong compete in SPAC listings

However, investors should do a few things beforehand.

First, the valuation of the target firm for acquisition has to be carried out carefully as this will determine the investment amount that will be used for acquisition. Commissioning an independent appraiser to ascertain the true valuation of the target firm is a must.

Second, the types of private firms that get listed via the SPAC route are usually from the new economy, so any industry data will be difficult to gather. As such, it is vital to get industry experts in as early as possible to provide an assessment of the potential market of the target company.

This is especially the case with regard to having sufficient data to support the assumptions made in the estimates of future growth. Having data from comparable peers as well as thoroughly briefing investors on the risk factors would also be helpful.

Third, because there is less scrutiny of SPACs compared with the traditional IPO route, the stock exchange must insist on disclosure of all financial information relating to the target company as well as the depth of due diligence carried out. From our experience of handling appraisals with respect to SPAC acquisitions, we cannot stress enough the need for sufficient disclosure.

We believe that having these safeguards in place will ensure that Hong Kong can adequately compete with Singapore and the US in SPAC listings as well as tapping the vast demand of new economy firms from mainland China for funding while still adequately protecting investors.

Stella K.Y. Law, executive director, CHFT Advisory and Appraisal