Employee Support Scheme update...
Wonder whats happening there with just around 50% of employers applied so far and the rest probably opting out!! Its a free money after all for those who were not planning to lay-off anyway so why opt out!!! Some soul-searching/conscience awakening phenonmen (Unlikely) or uncle Tung and CY led coalition forcing biggies not to apply!! For huge loss making businesses like Cathay, it makes sense not to apply but for the rest its baffling to know they want to keep flexibility to lay-off people in coming six months or dont want to re-hire already laid off (Indication of very poor business sentiment)..
Either David Webb or BigLychee/Hemlock had tweeted within hours of the ESS being announced that calls had gone out to top tier organisations - esp Banks - asking them not to apply. Webb even threatened to take action against public listed entities who would not take the subsidy.For huge loss making businesses like Cathay, it makes sense not to apply but for the rest its baffling to know they want to keep flexibility to lay-off people in coming six months or dont want to re-hire already laid off (Indication of very poor business sentiment)..
Have seen reports indicating that employers are getting their SMS confirmations this week and payments will land in their accounts starting next week.
Self employed with a sole proprietorship. No messages or anything thus far.
I got my NET Contract payment from EDB today. 7.5K that the wife has already spent and working on hers and mine 10k next month.
Some update on free money, cronysim and all among other diversions...
https://www.scmp.com/news/hong-kong/...rolled-justiceAn engineering company controlled by the husband of Hong Kongâ€™s justice minister has received HK$24.7 million (US$3.2 million) in wage subsidies from the governmentâ€™s coronavirus relief package.
Jewellery chain Luk Fook Holdings Company was handed the largest sum of the second batch of successful applicants, HK$43.6 million for its 1,493 staff.
There are hardly 5000 transactions per month on average and these scumbags receive $115M subsidy for practically contributing to less than one transaction per month per employee and that too assuming no other agency exist in the city.. And the great Govt. sponsored ponzi scheme continues..
https://www.thestandard.com.hk/breaking-news/section/4/150378/Third-batch-of-wage-subsidies-released,-Centaline-Property-Agency-receives-HK$115mCentaline Property Agency Limited with a headcount of 5,612 received the biggest wage subsidies totaling about HK$115.1 million.