〈Hong Kong Business, Aug, 10,2024〉Hong Kong's government has shown its determination to help displaced brownfield operators find space for their businesses.
In June, the Development Bureau revealed that it had postponed the due date for Yuen Long Town Lot 545 (YLTL 545) tender submissions to 27 December 2024 to give interested parties more time to consider their proposals.
This lot is the first multi-storey building (MSB) site to be put up for tender that would achieve the government's dual-policy objectives of promoting industrial development while consolidating brownfield operations space in the most land-efficient manner while assisting them in upgrading their operations. These brownfield operations have been displaced by the government's various projects, such as the Northern Metropolis.
〈Asian Post, Aug, 9 ,2024〉The Home & Youth Affairs Bureau approved a youth hostel project in Tin Shui Wai.
The Sky One Hostel, located at 8 Tin Sau Road, will have a total of 336 rooms, providing up to 672 hostel spaces.
The hostel is the fourth project under the Subsidy Scheme for Using Hotels & Guesthouses as Youth Hostels.
The project aims to equip the youth tenants with various training and cultural exchange programmes.
Tenants will be invited to organise activities and attend volunteer services, the bureau said.
〈Hong Kong Business, Aug, 7 ,2024〉The total retail sales value hit $29.9b in June 2024, a 9.7% drop from the same month in 2023.
Of the total sales value, 7.8% or $2.3b was from online sales. Compared to June 2023, the online retail sales value fell 11.2% YoY.
Amongst retail outlets, "jewellery, watches and clocks, and valuable gifts" recorded the steepest decline, with sales falling 23.1% YoY.
Other retail outlet types which recorded value decreases include other consumer goods not elsewhere classified (-1.2%); commodities in supermarkets (-0.5%); wearing apparel (-13.2%); food, alcoholic drinks and tobacco (-5.7%); electrical goods and other consumer durable goods not elsewhere classified (-4.7%).
〈The Standard, Aug, 6 ,2024〉Wharf (0004) swung to a net loss of HK$2.64 billion due to a revaluation deficit amid weaker office demand but maintained a first interim dividend of 20 HK cents.
The underlying net profit in the first half increased by 9 percent to HK$2 billion from HK$1.8 billion last year, mainly driven by a reduction in the provision for development properties from HK$1 billion a year ago to HK$564 million.
Revenue tumbled 14 percent to HK$7 billion, compared to HK$8.13 billion in the first half of 2023, and operating profit dropped 2 percent from HK$3.14 billion to HK$3.09 billion.
〈Asian Post, Aug, 5,2024〉Hong Kong fell out of the top 10 busiest container ports globally last year, ranking 11th for the first time, Alphaliner reported.
Hong Kong saw a 14.1% YoY decline in container traffic to 14.34 million twenty-foot equivalent units (TEUs) last year.
Dubai, which saw a 3.6% increase in container traffic, surpassed Hong Kong.
Meanwhile, Shanghai and Singapore topped the list with 49.16 million and 39.01 million TEUs recorded, respectively.
