Friday 9th November 2012
Government secrecy in land tenders
Since March, we've been quietly trying to persuade Government to increase transparency in land tenders, rather than publishing meaningless lists of shell bidders, often with unknown owners. The Government responded that information on who stands behind bidders was "unnecessary". That's inconsistent with its requirement that estate agents report possible money-laundering, and the secrecy also strengthens perceptions of collusion and protection of the developer cartel. (9-Nov-2012)
RECENTLY ON WEBB-SITE
Using a tool on Webb-site, we find that Wheelock group (0020) or its controlling family have built a holding over 2% of Sun Hung Kai Properties Ltd (0016) worth HK$6bn, as well as a $1bn position in fashion chain Prada (1913) and trading positions in Cheung Kong (0001) and its associate Hutchison Whampoa (0013). (8-Nov-2012)
We examine HK's proposed discriminatory stamp duty on companies and non-permanent residents who buy residential property, its questionable constitutionality, its negative impacts on social harmony and the redevelopment market, and the proposed SSD 2.0. (30-Oct-2012)
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