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Link REIT to CY - Fuck off and MYOB!

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  1. #1

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    Link REIT to CY - Fuck off and MYOB!

    Classic response to CY's dick waving about Link REIT not living up to its social obligations.

    Hubert Chak, a financial director at Link Asset Management Limited, said there was “a difference between social corporate responsibility and social welfare”.


    He said the company had spent hundreds of millions of dollars annually to support the operations of welfare organisations in addition to building barrier-free facilities in the buildings it ran.

    But this did not mean it would provide subsidies to its tenants given the company is a private business entity.
    And put your money where your mouth is ..

    Despite Leung’s assertion that the government had no plans to acquire Link Reit, Lo Bing-chung, the company’s director of corporate communications and external relations, said it would welcome a government buy-back of its shares, including a full purchase.
    I'd personally be happy as a shareholder. Brilliantly played.

    So, CY, whats your next move?
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  2. #2

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    More here:

    The Link Reit says its primary social responsibility is to provide “sustainable returns to its unit holders” in response to a strongly worded reminder from Chief Executive Leung Chun-ying that the company should serve the needs of public housing tenants.


    The listed real estate investment trust also says it is not a monopoly, despite comments by Leung in an exclusive interview with the Post alluding to such a status.
    Link Reit says its main responsibility is to provide ‘sustainable returns to its unit holders’, after Hong Kong Chief Executive CY Leung says it must serve the public | South China Morning Post
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  3. #3

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    I don't think it is a case of bullying the government.

    By the way, is there a shareholder breakdown? I'd assume govt is the major shareholder?

  4. #4

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    So, even more reason for them to not bow down to CY's nonsense.

    Just assumed that the govt had taken a significant stake in them.


  5. #5

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    Although the HK Tracker is one of the fund holders..

    Last edited by shri; 29-06-2016 at 04:51 PM.

  6. #6

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    jrkob - I see what you mean..


  7. #7

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    From the SCMP article:

    Leung said the Link had a “particular corporate social responsibility” to provide public housing tenants with affordable shopping facilities. He went on to say the government had not promised the Link a monopoly on the supply of shopping malls, and he vowed to provide alternatives for public housing residents.
    So one (or more) of his rich developer mates see a relatively captive audience and want their slice of the action.
    shri and jgl like this.

  8. #8

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    Original Post Deleted
    very true, but election time is fast approaching, they might do bugger all for the whole term but just before the election they all hit the streets, struggle to gain any media exposure, even broomhead was out with the masses.

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    Sorry CY Leung, the Link Reit is pursuing profit, not social responsibility, because that’s how it was sold | South China Morning Post

    "What I find curious, however, is that you, Sir, were Convenor of the Executive Council at the time and Exco had to approve this privatisation. How could you not have known? Why not even a peep of dissent then?"

    I have noticed the SCMP recently being quite "anti" government or at the very least anti CY............

    Read into that what you may.

    I also read somewhere this morning that Whiskers is supposed to be the most popular government member.........

    Again read into that what you may.

  10. #10

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    @pin perhaps jack MA or someone with power wants Cy out. Marching orders have been handed over to the minions.


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