https://www.scmp.com/rss/2104/feed Howard Winn is a former columnist of the South China Morning Post en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The recent collapse of South Korea’s Hanjin Shipping Company highlights the difficulties of the shipping industry as it endures its worst downturn for more than 30 years. Hanjin is the world’s seventh largest container liner but the markets for tankers, bulk carriers and the oil service sector are also hurting. “If you look across the industry, all sectors have been hit” said Arthur Bowring, managing director of the Hong Kong Shipowners Association. “It’s a very depressing story.” According to... https://www.scmp.com/week-asia/business/article/2017963/hanjin-bankruptcy-how-low-interest-rates-are-brewing-shipping?utm_source=rss_feed https://www.scmp.com/week-asia/business/article/2017963/hanjin-bankruptcy-how-low-interest-rates-are-brewing-shipping?utm_source=rss_feed Fri, 09 Sep 2016 05:52:30 +0000 One of the world’s biggest yachts has quietly slipped into Hong Kong, its visit shrouded in secrecy. The 91.5 metre Equanimity – the 51st largest yacht in the world, according to Boat International magazine – has been linked to Jho Low, the Malaysian financier at the centre of the 1MDB scandal that has rocked the country. There have been speculation, notably in the newsletter Sarawak Report, that the yacht is to be sold. But the purpose of its stay in Hong Kong is unclear. And no one connected... https://www.scmp.com/week-asia/geopolitics/article/2006261/hong-kongs-mystery-yacht-linked-jho-low-1mdb-fame?utm_source=rss_feed https://www.scmp.com/week-asia/geopolitics/article/2006261/hong-kongs-mystery-yacht-linked-jho-low-1mdb-fame?utm_source=rss_feed Sun, 21 Aug 2016 07:00:45 +0000 We hear of disquiet at Pokfulam Terrace with some of the owners at loggerheads with the management committee. A new management committee (MC) was elected in April last year and minority owners say that problems began to occur with minutes not reflecting what was said in meetings, owners who criticised the MC being subjected to abuse. The treasurer of the MC complained of not being able to get access to the accounts. She eventually resigned but before doing so sent out a note to all owners saying... https://www.scmp.com/business/article/1754677/disquiet-pokfulam-estate-management-committee?utm_source=rss_feed https://www.scmp.com/business/article/1754677/disquiet-pokfulam-estate-management-committee?utm_source=rss_feed Thu, 02 Apr 2015 14:15:30 +0000 While talking to a businessman involved with one of the chambers of commerce recently, he complained that whenever his chamber went to the government with an initiative it was always greeted with a standard response. "Your idea is a very good one." Secondly: "But it is a sensitive issue and we will have to consider carefully how it will be viewed by the Legislative Council." Thirdly: "Could you please do more to publicly support the government?" This is hardly the response you'd expect from a... https://www.scmp.com/business/economy/article/1753670/hong-kongs-civil-service-stuck-1980s?utm_source=rss_feed https://www.scmp.com/business/economy/article/1753670/hong-kongs-civil-service-stuck-1980s?utm_source=rss_feed Wed, 01 Apr 2015 13:41:30 +0000 In one of those curious twists of fortune, Sean Johnstone came to Hong Kong in 2011 with Japanese steel giant Kawada Industries to compete for contracts to supply heavy steel for Hong Kong infrastructure projects. That exercise was relatively unsuccessful as the Japanese currency, at 76 yen to the US dollar, was the strongest it had been for many years. Now Johnstone spends his time marketing a sustainable roof greening system but is still working for the steel company. Johnstone is the general... https://www.scmp.com/business/companies/article/1753054/green-roofs-look-better-while-saving-money-and-water?utm_source=rss_feed https://www.scmp.com/business/companies/article/1753054/green-roofs-look-better-while-saving-money-and-water?utm_source=rss_feed Tue, 31 Mar 2015 16:15:15 +0000 We hear of more regulatory madness. A reader writes to say that he has held an account with BlackRock, the world's largest provider of mutual funds and exchange-traded funds, for about 25 years. He rebalances his portfolio about twice a year by switching between various equity sector funds. Late last year, he sent a switching instruction to BlackRock's Hong Kong office but was told: "Sorry, we don't have your risk profile and our internal regulators cannot allow your transaction." Because it was... https://www.scmp.com/business/banking-finance/article/1751878/sfc-regulations-hindering-hong-kongs-fund-management?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1751878/sfc-regulations-hindering-hong-kongs-fund-management?utm_source=rss_feed Mon, 30 Mar 2015 14:00:29 +0000 We see that our chief executive has been speaking about constitutional reform again. He is reported to have said that all universal suffrage systems in the world can be regarded as "genuine" if they are designed in accordance with the law. Clearly constitutional law is not his strong point. The discussion of Hong Kong's electoral arrangements have become increasingly Orwellian as the government and pro-Beijing supporters persist in claiming that the proposals for the 2017 chief executive are a... https://www.scmp.com/business/economy/article/1749090/cy-leung-and-art-controlling-electoral-outcomes?utm_source=rss_feed https://www.scmp.com/business/economy/article/1749090/cy-leung-and-art-controlling-electoral-outcomes?utm_source=rss_feed Fri, 27 Mar 2015 15:05:23 +0000 The website of InvestHK, which is the government's arm for encouraging businesses to set up in Hong Kong, greets visitors to the site with a banner headline that reads: "It's the right time to set up a company in Hong Kong." It goes on to say: "Hong Kong is the number one business city in Asia. It is the perfect base for companies that want to do business in mainland China and across the region." True, but to set up a company you need a bank account. If you speak to companies in the business of... https://www.scmp.com/business/banking-finance/article/1747963/bank-account-difficulties-turning-business-away-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1747963/bank-account-difficulties-turning-business-away-hong-kong?utm_source=rss_feed Thu, 26 Mar 2015 11:06:54 +0000 The Securities and Futures Commission needs to take a long hard look at itself following the recent conclusion of the Andy Mantel fiasco which we wrote about on Tuesday. Its behaviour and the manner of its investigation were nothing short of disgraceful and its bully-boy approach to dealing with minor issues needs to be rectified. Our article recounted the SFC's efforts to nail Mantel, the founder and chief executive of Sun Pacific Advisors for advertising a fund which did not expressly state it... https://www.scmp.com/business/companies/article/1747266/who-watching-securities-and-futures-commission?utm_source=rss_feed https://www.scmp.com/business/companies/article/1747266/who-watching-securities-and-futures-commission?utm_source=rss_feed Wed, 25 Mar 2015 15:13:01 +0000 One of the reasons Robert Friedland, chairman of Ivanhoe Mines, is considered one of the best presenters in the mining sector is that he brings the subject alive by looking at what's going on in the world in terms of technology and tells you what it means for metals. So it was that the annual Mines & Money Hong Kong conference was enlivened with another tour de force from him yesterday as he looked at the metals required by trends such as urbanisation along with current and future... https://www.scmp.com/business/commodities/article/1746563/copper-kills-bugs-enlivens-friedlands-metals-message?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1746563/copper-kills-bugs-enlivens-friedlands-metals-message?utm_source=rss_feed Tue, 24 Mar 2015 14:45:30 +0000 Andy Mantel, together with lawyers and friends, were understood to have been in Lan Kwai Fong celebrating into the early hours on Saturday after winning a three-and-a-half-year battle with the Securities and Futures Commission that ended in the Court of Final Appeal on Friday. The SFC first charged Mantel and Pacific Sun Advisors, of which he is the founder and chief executive, in 2013 with running advertisements to promote a collective investment scheme without its authorisation. Mantel had... https://www.scmp.com/business/companies/article/1745585/champagne-moment-andy-mantel-and-pacific-sun-after-court-victory?utm_source=rss_feed https://www.scmp.com/business/companies/article/1745585/champagne-moment-andy-mantel-and-pacific-sun-after-court-victory?utm_source=rss_feed Mon, 23 Mar 2015 13:48:40 +0000 New amendments to Peak boutique hotel We see that the developers of the proposed controversial 'boutique hotel' on Lugard Road on the Peak have submitted yet another amendment to the Town Planning Board. This means there will be yet another public consultation - the fourth - on the application. Objectors will have to resubmit their objections by April 8, which comes just after the Easter holiday, and the Town Planning Board hearing is scheduled for April 17. The developers appear to have taken a... https://www.scmp.com/comment/insight-opinion/article/1742248/new-amendments-peak-boutique-hotel?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1742248/new-amendments-peak-boutique-hotel?utm_source=rss_feed Thu, 19 Mar 2015 16:12:27 +0000 We see that one of Mark Kirkham's companies has come to the attention of Thailand's Securities and Exchange Commission (SEC). PFS International Consultants can now be found on the Thai SEC's alert list. The SEC website says that PFS was put on the alert list for conducting securities and derivative business without a licence from the commission. The purpose of the alert list is to warn investors not to do business with the approximately 50 unlicensed companies on the list. PFS International is... https://www.scmp.com/business/companies/article/1741390/hong-kong-linked-company-appears-thai-sec-alert-list?utm_source=rss_feed https://www.scmp.com/business/companies/article/1741390/hong-kong-linked-company-appears-thai-sec-alert-list?utm_source=rss_feed Wed, 18 Mar 2015 14:15:00 +0000 Hong Kong prides itself on being a global financial centre. Yet it has always been a follower in financial development rather than a leader and has been slow to respond to an exciting development its supporters say has the potential to revolutionise the way financial borrowers and lenders are brought together. Peer to peer lending (P2P) is growing rapidly in the US and Britain. WeLend, which started in 2013 with backing from Li Ka-shing, was hoping to conduct P2P lending but has morphed into an... https://www.scmp.com/business/banking-finance/article/1740539/monexo-aims-make-banking-hong-kong-more-efficient?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1740539/monexo-aims-make-banking-hong-kong-more-efficient?utm_source=rss_feed Tue, 17 Mar 2015 14:07:25 +0000 Every cloud, as the saying goes, has a silver lining. Xi Jinping's corruption crackdown has been bad news for those that were caught up in the 53,085 investigations by the Central Commission for Discipline Inspection that occurred in 2014 alone. As a result of these investigations, the CCDI has disciplined 71,748 cadres and "severely disciplined" a further 23,646. But the crackdown is surely good news in a sense for the likes of Steve Vickers & Associates that specialise in advising businesses... https://www.scmp.com/business/companies/article/1739444/mainland-corruption-crackdown-poses-risks-foreign-investors?utm_source=rss_feed https://www.scmp.com/business/companies/article/1739444/mainland-corruption-crackdown-poses-risks-foreign-investors?utm_source=rss_feed Mon, 16 Mar 2015 13:47:00 +0000 The Lion Wakes: A Modern History of HSBC was published recently to coincide with the 150th anniversary of HSBC Holdings. It is an official history, commissioned by HSBC, by historians David Kynaston and Richard Roberts. Its publication has coincided with what in future updates of the book, will go down as one of the darker periods of HSBC's history. But it has, albeit unwittingly, provided some context for the Swiss scandal currently swirling around the bank and others such as the... https://www.scmp.com/business/companies/article/1736150/read-all-about-it-new-history-hsbc?utm_source=rss_feed https://www.scmp.com/business/companies/article/1736150/read-all-about-it-new-history-hsbc?utm_source=rss_feed Thu, 12 Mar 2015 14:00:15 +0000 Should HSBC's chairman Douglas Flint resign? Will HSBC Holdings' chairman Douglas Flint hold on to his job amid the turmoil swirling around the banking giant and the revelations about its Swiss business? An article in the Financial Times quotes from a speech Flint made in April 2013 in which he said: "[Banking] supervisors should care more about tone from the top, how ethics and values are taught and reinforced, how values are enforced and rewarded, and how an organisation looks for and adapts... https://www.scmp.com/business/companies/article/1735320/should-hsbcs-chairman-douglas-flint-resign?utm_source=rss_feed https://www.scmp.com/business/companies/article/1735320/should-hsbcs-chairman-douglas-flint-resign?utm_source=rss_feed Wed, 11 Mar 2015 14:17:20 +0000 CLSA's show goes on but without the annual gala party The CLSA Investors' Forum is generally regarded as one of the highlights of the annual conference circuit for investors. The forum runs for five days and includes big name speakers, one-to-one meetings between investors and corporates and a lot of schmoozing and networking in between. However, we learn that one popular element of the forum is to be axed this year - the gala party. This is generally a sumptuous affair with as much good food... https://www.scmp.com/business/companies/article/1734485/clsas-show-goes-without-annual-gala-party?utm_source=rss_feed https://www.scmp.com/business/companies/article/1734485/clsas-show-goes-without-annual-gala-party?utm_source=rss_feed Tue, 10 Mar 2015 13:00:00 +0000 More Stanley car park insanity The Transport Department has come up with a novel approach to win over objectors to its crazy plan of building an underground car park in Stanley. It has written to residents and asked them to support the project. In so doing, it has regurgitated the same arguments that made little impression last year. This includes the odd argument that as the car park is not an additional tourist attraction, it won't attract additional traffic. The Stanley Residents Concern... https://www.scmp.com/business/economy/article/1733719/sense-still-missing-stanley-car-park-project?utm_source=rss_feed https://www.scmp.com/business/economy/article/1733719/sense-still-missing-stanley-car-park-project?utm_source=rss_feed Mon, 09 Mar 2015 15:00:00 +0000 Getting a car through its roadworthiness certificate in Hong Kong is not what it used to be. Some years ago, you could just turn up at a designated vehicle testing centre and the examination would be over in 10 minutes. Now the average waiting period is two months. How can this be in "Asia's world city"? In 2011, the Independent Commission Against Corruption became aware that all was not as it should be. It mounted an operation and arrested more than 30 people that year, and about the same... https://www.scmp.com/comment/insight-opinion/article/1730367/two-month-wait-vehicle-roadworthiness-certificate?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1730367/two-month-wait-vehicle-roadworthiness-certificate?utm_source=rss_feed Thu, 05 Mar 2015 14:45:30 +0000 We hear of more building management related nonsense. This story concerns the tennis court at the Oscar by the Sea development at Tseung Kwan O, and is another example of how the Building Management Ordinance offers little protection to minority owners in the face of an entrenched owners' committee. Last November the owners' committee wanted to replace the mesh fence surrounding the tennis court, which was rusting, with one made of plastic wood. This was deemed to be unsuitable by the Hong Kong... https://www.scmp.com/business/article/1729555/tennis-court-saga-reflects-weakness-building-management-ordinance?utm_source=rss_feed https://www.scmp.com/business/article/1729555/tennis-court-saga-reflects-weakness-building-management-ordinance?utm_source=rss_feed Wed, 04 Mar 2015 14:05:24 +0000 What can we say about Hong Kong Airlines' efforts at an initial public offering? It would be tempting to say "late again". Its application to the Hong Kong stock exchange lapsed on Monday as it hadn't filed the requisite documents. It was hoping to raise US$500 million, which you would have thought would be handy given its difficulties in making payments over the years. In 2012 the Airport Authority Hong Kong barred it from using the aerobridges at the airport as it was significantly behind in... https://www.scmp.com/business/article/1728800/hong-kong-airlines-late-again-ipo-application-lapses?utm_source=rss_feed https://www.scmp.com/business/article/1728800/hong-kong-airlines-late-again-ipo-application-lapses?utm_source=rss_feed Tue, 03 Mar 2015 16:30:45 +0000 Percy Weatherall, the former Jardine taipan, was spotted supporting Cancer Research UK at a fun run on Sunday that ended at Big Wave Bay beach. The big man cut a dashing figure in a rather splendid country hacking jacket as he cheered in the mostly lycra-clad youngsters. He also stood out for helping in the good fight against the big-C while smoking a huge stogie. Jardines certainly has a lot of pull down in Shek O through the Shek O Development Co, which manages the golf course and vets which... https://www.scmp.com/business/economy/article/1727849/former-jardines-taipan-caught-flagrante-delicto-beach?utm_source=rss_feed https://www.scmp.com/business/economy/article/1727849/former-jardines-taipan-caught-flagrante-delicto-beach?utm_source=rss_feed Mon, 02 Mar 2015 13:30:15 +0000 Hopewell Holdings is due back at the Town Planning Board today to make its case for the so-called minor additions and amendments to its hotel project in Wan Chai. Astonishingly the company has asked the TPB for a deferral. This project has a very long history but suffice to say that in 2008 Hopewell agreed to reduce the size of the 93-storey hotel it proposed to 55 storeys in exchange for a land swap, and to change the design of the hotel. However, to the dismay of local residents, in August... https://www.scmp.com/business/companies/article/1724459/hopewell-seeks-delay-scrutiny-hotel-project-again?utm_source=rss_feed https://www.scmp.com/business/companies/article/1724459/hopewell-seeks-delay-scrutiny-hotel-project-again?utm_source=rss_feed Thu, 26 Feb 2015 15:04:35 +0000 Financial Secretary John Tsang Chun-wah yesterday treated us to the by now familiar game of appearing to be generous by doling out "sweeteners" in his budget while at the same extracting more than he needs to from people's pockets. The sweeteners have become an essential element of Tsang's budgets ever since he was forced into that embarrassing climb down in 2011 after sharp public protests and gave everyone HK$6,000. However, this year was sweeter than most, amounting to HK$34 billion, which is... https://www.scmp.com/business/economy/article/1723332/john-tsangs-budget-takes-too-much-out-peoples-pockets?utm_source=rss_feed https://www.scmp.com/business/economy/article/1723332/john-tsangs-budget-takes-too-much-out-peoples-pockets?utm_source=rss_feed Wed, 25 Feb 2015 15:30:00 +0000 HSBC Holdings chief executive Stuart Gulliver sounded more than a little peeved during the bank's results press conference when he observed in response to questions about its "compliance failures". "It seems to me that we are holding large corporations to higher standards than the military, the church or civil service - Douglas and I should be aware of everything that is being done within the organisation," said Gulliver, referring to chairman Douglas Flint. "Can I know what every one of 257,000... https://www.scmp.com/business/banking-finance/article/1722644/gulliver-protests-too-much-about-bank-scrutiny?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1722644/gulliver-protests-too-much-about-bank-scrutiny?utm_source=rss_feed Tue, 24 Feb 2015 14:30:00 +0000 Has health chief Ko Wing-man taken leave of his senses? His remarks on smoking and taxation are extraordinary for someone who is the Secretary for Food and Health. The Council on Smoking and Health has suggested doubling the tax, which would push the cost of a pack of cigarettes to HK$93 from HK$53. But Ko, according to The Standard, said, "We will definitely adjust the tobacco tax at the proper time to control the percentage of smokers," adding "but each time we consider increasing the tax, we... https://www.scmp.com/business/global-economy/article/1721976/tobacco-related-illnesses-cost-hong-kong-hk72-billion-year?utm_source=rss_feed https://www.scmp.com/business/global-economy/article/1721976/tobacco-related-illnesses-cost-hong-kong-hk72-billion-year?utm_source=rss_feed Mon, 23 Feb 2015 15:00:30 +0000 Abolish Home Affairs, set up a building affairs tribunal The president of the Hong Kong Institute of Housing, Ellis Ip Chi-ming, has a letter in today's Letters to the Editor in which he complains of unfairness in a previous Lai See piece entitled "Review of building management opens a can of worms". The HKIH is an industry body for the property management industry and according to its website has as its key object, "to promote the standards and ideals of the science and art of the profession of... https://www.scmp.com/business/economy/article/1717210/abolish-home-affairs-department-and-set-building-affairs-tribunal?utm_source=rss_feed https://www.scmp.com/business/economy/article/1717210/abolish-home-affairs-department-and-set-building-affairs-tribunal?utm_source=rss_feed Tue, 17 Feb 2015 16:15:00 +0000 Asiaxpat warns of surge in scamming from overseas We hear of a cautionary tale from one of our readers who was nearly scammed when she attempted to sell an item of jewellery on the Asiaxpat website. She posted her item and when a buyer contacted her, sent it off to California. She then received a strange looking email from the buyer using Standard Chartered letterhead. The item was being sold for US$2,000, but the buyer's email claimed that this amount was too low to be wired, and the bank... https://www.scmp.com/comment/insight-opinion/article/1715720/beware-overseas-scammers?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1715720/beware-overseas-scammers?utm_source=rss_feed Tue, 17 Feb 2015 04:11:43 +0000 Time for Hong Kong to introduce plain packaging for cigarettes Plain packaging for cigarettes has been introduced in Australia, is likely to occur in France and is being mooted in Britain. So far the Hong Kong government has shown little interest in it. Interestingly, studies have shown that the measure in Australia has coincided with the country's biggest fall in smoking rates in decades with the daily smoking rate falling by 15 per cent between 2010 and December 2013. Nor did any of the... https://www.scmp.com/business/economy/article/1712317/time-hong-kong-introduce-plain-packaging-cigarettes?utm_source=rss_feed https://www.scmp.com/business/economy/article/1712317/time-hong-kong-introduce-plain-packaging-cigarettes?utm_source=rss_feed Fri, 13 Feb 2015 14:29:52 +0000 Mike Mayo, CLSA's head of US banking research is not one for pulling his punches. In 2012, he declared: "In Asia, Citibank is the Tiffany of banking, but its corporate governance is like a five-and-dime store in Park Avenue." And in 2013 he observed: "Citi had the highest CEO pay over the last decade but with the worst bank performance. That was an insult to capitalism." But he started to warm to the bank when Mike O'Neill took over as chairman in April 2012 and promoted Mike Corbat to chief... https://www.scmp.com/business/banking-finance/article/1711333/clsas-mike-mayo-goes-full-circle-his-opinion-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1711333/clsas-mike-mayo-goes-full-circle-his-opinion-citi?utm_source=rss_feed Thu, 12 Feb 2015 15:45:45 +0000 Another example of why BMO needs a radical overhaul We hear more disturbing stories surrounding the workings of the Building Management Ordinance which is supposed to protect the interests of residential property owners. There is clearly widespread dissatisfaction with the current arrangements as indicated by the many complaints at last month's Legislative Council Home Affairs panel when representatives of owners committees were invited to give their comments as part of the current review of the... https://www.scmp.com/business/economy/article/1710303/another-example-why-bmo-needs-radical-overhaul?utm_source=rss_feed https://www.scmp.com/business/economy/article/1710303/another-example-why-bmo-needs-radical-overhaul?utm_source=rss_feed Wed, 11 Feb 2015 14:09:56 +0000 Qualcomm fined in a market dominated by monopolies We read with some interest the comments of Xu Kunlin, of the National Development and Reform Commission, after levying a record US$975 million fine on Qualcomm for what it calls anti-competitive practices. "Issuing the fine was not our primary purpose," Xu said. "Our purpose was to restore orderly, free market competition. Qualcomm's practices had stifled innovation." In a country that is dominated by monopolies in power, energy power... https://www.scmp.com/business/money/article/1709634/qualcomm-fined-market-dominated-monopolies?utm_source=rss_feed https://www.scmp.com/business/money/article/1709634/qualcomm-fined-market-dominated-monopolies?utm_source=rss_feed Tue, 10 Feb 2015 14:45:15 +0000 Hopewell continues ducking and diving at Town Planning Board Hopewell Holdings is continuing its crafty game of ducking and diving at the Town Planning Board over its application to build what it calls a hotel with convention and exhibition facilities near the Hopewell Centre in Wan Chai. Its plans were supposed to be considered at a meeting of the board on January 2, but the board once again agreed to the company's request for the matter to be deferred until later this month. Readers will be... https://www.scmp.com/business/companies/article/1708691/hopewell-continues-ducking-and-diving-town-planning-board?utm_source=rss_feed https://www.scmp.com/business/companies/article/1708691/hopewell-continues-ducking-and-diving-town-planning-board?utm_source=rss_feed Mon, 09 Feb 2015 13:05:10 +0000 Pok Fu Lam heritage site will be swamped by new development There is some dismay at the design of the University of Chicago Booth School of Business that is being planned for the Victoria Road ex-detention centre in Pok Fu Lam. The heritage site comprises three grade-three historic buildings. "The school wants to preserve the history of the site," said Gavin Tun, the director of project management at the university. However, looking at the artist impressions of the site, which can be seen on the... https://www.scmp.com/business/money/article/1705474/pok-fu-lam-heritage-site-will-be-swamped-new-development?utm_source=rss_feed https://www.scmp.com/business/money/article/1705474/pok-fu-lam-heritage-site-will-be-swamped-new-development?utm_source=rss_feed Fri, 06 Feb 2015 15:27:17 +0000 On the horns of a dilemma with CLSA's fung shui guide It says something about the investment community that CLSA yesterday launched its 21st fung shui index. CLSA says it is the most eagerly anticipated of all its research reports, though you get the impression that the firm is slightly embarrassed by its success. The report contains a number of warnings that it is a "tongue-in-cheek" report and should not be taken seriously. CLSA has tried to drop it. After 12 years, it decided enough was... https://www.scmp.com/business/money/article/1703876/horns-dilemma-clsas-fung-shui-guide?utm_source=rss_feed https://www.scmp.com/business/money/article/1703876/horns-dilemma-clsas-fung-shui-guide?utm_source=rss_feed Thu, 05 Feb 2015 14:45:45 +0000 Be fair and license all outlets selling liquor or none of them We see that Lai See's musings on the question of 7-Elevens and liquor sales in and around Lan Kwai Fong have come to the attention of another column biglychee.com The column was essentially agreeing with a letter to the South China Morning Post which fulminated at length about how wrong it would be to make 7-Elevens go through the same licensing process as the bars in the area since they apparently act as a healthy corrective to the... https://www.scmp.com/business/economy/article/1700893/be-fair-and-licence-all-outlets-selling-liquor-or-none-them?utm_source=rss_feed https://www.scmp.com/business/economy/article/1700893/be-fair-and-licence-all-outlets-selling-liquor-or-none-them?utm_source=rss_feed Tue, 03 Feb 2015 20:00:08 +0000 Review of building management ordinance opens a can of worms The recent public consultation on the Building Management Ordinance has, if nothing else, opened a can of worms which the government shows no signs of taking seriously as the deadline for public comments ended yesterday. The extent of the problems was apparent from the 50 representatives of housing estate owners that turned up to the Legislative Council Home Affairs Panel overseeing the review of the BMO. Speaker after speaker... https://www.scmp.com/business/economy/article/1699757/review-building-management-ordinance-opens-can-worms?utm_source=rss_feed https://www.scmp.com/business/economy/article/1699757/review-building-management-ordinance-opens-can-worms?utm_source=rss_feed Mon, 02 Feb 2015 20:00:14 +0000 Hong Kong needs to modernise its liquor licensing arrangements We've been reading the report of a "duty visit" by the Liquor Licensing Board to Singapore in 2012. The group met with the Singapore LLB and the police and in addition we learn that "members also participated in night visits arranged by the Singapore authority to several entertainment outlets selling liquor to understand more about the operation of the business and the enforcement challenges". The report notes that the visit... https://www.scmp.com/business/economy/article/1696685/hong-kong-needs-modernise-its-liquor-licensing-arrangements?utm_source=rss_feed https://www.scmp.com/business/economy/article/1696685/hong-kong-needs-modernise-its-liquor-licensing-arrangements?utm_source=rss_feed Fri, 30 Jan 2015 14:06:33 +0000 Is SAIC correct in callingAlibaba arrogant? Not content with telling the powerful State Administration for Industry and Commerce (SAIC) how to do its job, Alibaba's communications are now telling journalists how to write their reports. Readers will be aware that Alibaba is involved in a very public spat with SAIC after the e-commerce giant fared badly compared to its rivals in a survey on online commerce. Only 37 per cent of Alibaba's products were found to be up to standard compared with 90... https://www.scmp.com/business/companies/article/1695105/saic-correct-calling-alibaba-arrogant?utm_source=rss_feed https://www.scmp.com/business/companies/article/1695105/saic-correct-calling-alibaba-arrogant?utm_source=rss_feed Thu, 29 Jan 2015 15:27:30 +0000 World's 'freest economy' accolade does city a disservice Unsurprisingly the right wing US think tank the Heritage Foundation has declared that Hong Kong is the world's freest economy. It would have been surprising if it had not since it has done so every year for the past 21 years. This a moment for chortling and self-congratulation on the part of the government for having apparently masterminded this economic miracle and the accolade is duly slipped into ministers' speeches whenever they attend... https://www.scmp.com/business/economy/article/1694331/worlds-freest-economy-accolade-does-hong-kong-disservice?utm_source=rss_feed https://www.scmp.com/business/economy/article/1694331/worlds-freest-economy-accolade-does-hong-kong-disservice?utm_source=rss_feed Wed, 28 Jan 2015 13:07:03 +0000 The tale of HSBC, the hippo, the jumbo and JP Morgan We are looking forward to getting a copy of the new yet to be published history of HSBC. Our interest has already been piqued by a tantalising tale about a failed merger between the Hippo and the Jumbo. Hippo being the codename for HSBC and Jumbo for JP Morgan. This comes to us courtesy of the Sunday Times' Prufrock column. JP Morgan made "a discreet tentative" approach in 1997 to the then chairman Willie Purves. However, Project Big Game was... https://www.scmp.com/business/companies/article/1693607/tale-hsbc-hippo-jumbo-and-jp-morgan?utm_source=rss_feed https://www.scmp.com/business/companies/article/1693607/tale-hsbc-hippo-jumbo-and-jp-morgan?utm_source=rss_feed Tue, 27 Jan 2015 14:14:33 +0000 The website Spacious started in mid-2013 with an ambitious target - to shake up Hong Kong's online residential property market by introducing a higher level of transparency into listings and taking some of the pain out of renting or buying a property. Now after 18 months of tweaking the site, Spacious is poised for its next big step, which is to roll it out in Asia. Co-founder Asif Ghafoor told Lai See that Spacious (www.spacious.hk/en) would shortly list Singapore properties and later those in... https://www.scmp.com/business/companies/article/1692754/property-start-spacious-ready-regional-rollout?utm_source=rss_feed https://www.scmp.com/business/companies/article/1692754/property-start-spacious-ready-regional-rollout?utm_source=rss_feed Mon, 26 Jan 2015 15:00:15 +0000 Third public consultation on plan for hotel on the Peak We have commented before on the lop-sided Town Planning Board's arrangements which blatantly favour developers over the community. We are all familiar with the kind of games Hopewell Holdings plays with the board. How it keeps going back to the board and asking for amendments - in short, the salami approach to planning where the developer eventually gets what it wants a piece at a time. A similar game is being played by the company that... https://www.scmp.com/business/money/article/1690298/third-public-consultation-plan-hotel-peak?utm_source=rss_feed https://www.scmp.com/business/money/article/1690298/third-public-consultation-plan-hotel-peak?utm_source=rss_feed Fri, 23 Jan 2015 15:30:15 +0000 Australian suitor buys HK dating start-up Kiss Hugs Whenever you hear talk about Hong Kong and technology start-ups, there is usually a sniffy response from some quarters with people saying Hong Kong is a user of technology rather than an initiator. But there is evidence that the city is gaining traction as a technology hub. Take Thursday's announcement of the acquisition of Hong Kong start-up Kiss Hugs KissHugs.com by Australian-listed technology company Crowd Mobile for an undisclosed... https://www.scmp.com/business/companies/article/1689392/australian-suitor-buys-hong-kong-dating-start-kiss-hugs?utm_source=rss_feed https://www.scmp.com/business/companies/article/1689392/australian-suitor-buys-hong-kong-dating-start-kiss-hugs?utm_source=rss_feed Thu, 22 Jan 2015 14:15:45 +0000 Lan Kwai Fong bar owners step up campaign against 7-Eleven We recently wrote about the issue of 7-Elevens being able to serve alcohol without requiring an off-licence. We also noted that the number of 7-Elevens in and around Lan Kwai Fong had swelled over the past year to the dismay of bar owners which viewed them as unfair competition, since without having to carry the same overheads they are able to sell their liquor a lot more cheaply. As a result, Club 7-Elevens, as they describe themselves,... https://www.scmp.com/business/article/1688602/lan-kwai-fong-bar-owners-step-campaign-against-7-eleven?utm_source=rss_feed https://www.scmp.com/business/article/1688602/lan-kwai-fong-bar-owners-step-campaign-against-7-eleven?utm_source=rss_feed Wed, 21 Jan 2015 15:00:00 +0000 The book was all researched, written and ready to print. Three years' work, except for a slight problem: the authors couldn't think of a title. Former Hong Kong fund manager turned investment guru Jim Mellon, who travels the globe in a private jet looking for ideas to make more money, and his Hong Kong business consultant friend and writing partner, Al Chalabi, were at a loss as to what to call their latest work. Giving the keynote speech to the 2014 Master Investor conference in London, Mellon... https://www.scmp.com/business/money/article/1683733/jim-mellon-champagne-and-book-no-name?utm_source=rss_feed https://www.scmp.com/business/money/article/1683733/jim-mellon-champagne-and-book-no-name?utm_source=rss_feed Tue, 20 Jan 2015 14:45:45 +0000 Crown's Jim Thompson keeps age at arm's length Good to see Jim Thompson making a point for senior citizens. The chairman and founder of logistics company Crown Worldwide Group celebrated his 75th birthday recently by doing 75 push-ups in front of his enthusiastic staff. He achieved this in 47 seconds - a demonstration that a good number of considerably younger people would struggle to emulate. This was started some years ago when staff asked him how he kept so fit. He revealed his push-up secret... https://www.scmp.com/business/article/1682653/crown-chairman-keeps-age-arms-length?utm_source=rss_feed https://www.scmp.com/business/article/1682653/crown-chairman-keeps-age-arms-length?utm_source=rss_feed Tue, 20 Jan 2015 10:12:18 +0000 Customer endures 40 minutes of madness at Hang Seng Bank One of our readers was recently surprised to receive a letter from the Hang Seng Bank refusing his application to set up a standing order to pay off his Amex card account. At one of the bank's branches he was told there was a problem with his signature in that there was a "slight difference" from the various signatures he'd given the bank when he opened his account seven years ago. This is despite having signed thousands of cheques during... https://www.scmp.com/business/article/1680909/customer-endures-40-minutes-madness-hang-seng-bank?utm_source=rss_feed https://www.scmp.com/business/article/1680909/customer-endures-40-minutes-madness-hang-seng-bank?utm_source=rss_feed Fri, 16 Jan 2015 13:56:17 +0000 Vested interests resist reform of Building Management Ordinance We wrote last week about the current consultation period for proposing changes to the Building Management Ordinance which ends on February 2. This is an issue which generates a large number of complaints for the Independent Commission against Corruption and relates to the relations between owners committees, property management companies, contractors, and architects. The government set up a review committee in 2011 which... https://www.scmp.com/business/article/1680188/vested-interests-resist-reform-building-management-ordinance?utm_source=rss_feed https://www.scmp.com/business/article/1680188/vested-interests-resist-reform-building-management-ordinance?utm_source=rss_feed Thu, 15 Jan 2015 12:30:45 +0000