Parent company hits back at West Kowloon Cultural District Authority for firing contractor on Hong Kong’s M+ Museum over financial woes
Hsin Chong Group says it has not received formal notification of termination and there is no evidence subsidiary is insolvent
The parent company of a contractor fired by the authority managing Hong Kong’s multibillion-dollar arts hub slammed the decision on Saturday, saying the company was not in financial crisis as claimed.
It said the contract was terminated because the parent group faced a “severe financial crisis” and the company’s poor management resulted in a “significant delay” on-site.
The group, however, said it had not yet received any formal notification of the termination. It said it did not agree with the reason given as there was no evidence showing its subsidiary was insolvent and the financial condition of the parent firm was irrelevant as far as the main contract was concerned.