diesel tax cut needed says union
Article Abstract:
Hong Kong Storehouse and Transportation Staff Association urged the government to waive the diesel tax during critical period at present. Currently, 50% of diesel price is tax. The diesel spending accounts for over 20% of a driver's operation cost. An interview carried with 840 transport workers that 35% of interviewees faced wages cut by 10-40% while 55% had no pay rise in the past 3 years. About 40% of them worried there will be a massive sacking soon. The transport sector hopes the government to waive the diesel tax before the economic recovery. *
Comment:
Hong K: Hong Kong Storehouse & Transportation Staff Assn urges govt to waive diesel tax during critical period at present
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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New World Services spin-off on ice
Article Abstract:
New World Development plans to spin off New World Services to raise more than HK$2 bn. The unit, which was established to consolidate property-related services provided by the group into one well-integrated corporate entity, is split into six divisions. The six divisions involve facility management, construction, electrical and mechanical engineering, property management, security, and cleaning and landscaping respectively. The group expects to complete transferring its services businesses to New World Services before 31 December 1998. *
Comment:
Plans to spin off New World Services to raise more than HK$2 bil
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Multifield launches issue
Article Abstract:
The initial public offering of a property investment company Multifield International Holdings's 70 mn new shares is expected to commence trading on 31 July. Net proceeds are estimated to be at HK$59 mn. The company will use HK$30 mn to fund acquisition of land, properties and property interests in Hong Kong and China. About HK$23 mn will be used to construct and decorate the Queenswell Garden project in Shanghai, while about HK$3 mn will be used to decorate the entire block of Multifield Centre in Hong Kong. *
Comment:
Initial public offering of 70 mil new shares is expected to start trading on 7/31/98 w/ net proceeds estimated to be HK$59 mil
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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