Real estate market
Author: Li Tong
2021-06-20 15:51
Last update date: 2021-06-20 16:05
The commercial site of No. 3 Xinhaibin in Central, with a valuation of up to 64.5 billion yuan, the tender for half a year was finally closed on Friday (18th), and a total of 6 tenders were received.
Among them, one of the highlights is that MTR (0066), a "rare customer" in the official land market, also participated in the joint bidding of Chinachem and Wharf Real Estate (1997). It is believed to be the first MTR since its establishment in the 1970s. Enter the bidding bidding for government official land.
This time, the "Double Envelope" tender was adopted for the commercial site No. 3, New Waterfront, Central. The tenders were evaluated on the basis of design and land price. The two scoring ratios were equal to each other. It is not "the higher the price", and is composed of government officials. The bid evaluation committee is responsible for the evaluation work.
However, at present, the Hong Kong Government holds 75% of the MTR, and four government officials on the MTR Board of Directors are non-executive directors, including the Secretary for Financial Services and the Treasury Xu Zhengyu, the Secretary for Transport and Housing, Chen Fan, and the Development Bureau. Permanent Secretary (Works) Lam Shih-hsiung, and Commissioner of Transport Luo Shupei.
The MTR’s participation in the bidding for the land this time has aroused doubts about whether there will be a potential conflict of interest.
MTR: All parties involved in conflicts of interest abstain from relevant board meetings
This newspaper consulted the MTR and Development Bureau on this matter.
MTR replied that as a listed company, it has always strictly complied with the listing regulations and corporate governance codes, and that participation in the tender was a commercial decision.
In the decision-making process, the listing rules have been strictly followed. When the board of directors makes a decision on this item, all board members (including directors of government officials) who may be involved in actual or potential conflicts of interest have avoided the relevant board meetings and have not contacted them. The meeting documents of the Sub-Board on the project did not participate in the discussion and voting.
As for the Development Bureau, it has not yet responded.
According to the government's announcement earlier, the tender review committee is chaired by the Permanent Secretary (Planning and Lands) of the Development Bureau, and its members include senior directorate officers from different professions.
According to the separate land sale regulations, the results of the bidding will not be announced until November 12 this year at the latest, which is as long as five months before the closing time.
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