Hung Shui Kiu Park Operator Eyes Bonds, Tax Breaks for Funding

Hong Kong’s Hung Shui Kiu industrial park operator will consider issuing bonds to finance its future operations and propose tax concession measures to the government to attract enterprises to set foot in the area.

Veteran industrialist Jeffrey Lam Kin-fung made the remarks on Sunday, two weeks before he was due to start his three-year term on June 1 as the chairman of the Hung Shui Kiu Industry Park Company – the first government-owned entity established to accelerate the development of the Northern Metropolis megaproject.

Lam said the company would rely on the government’s HK$10 billion (US$1.28 billion) injection to kick-start its operations, while the industrial park’s collaboration with different sectors could also attract capital.

“We will keep an eye on our budget,” Lam told a television news programme.

“Bond issuance is also feasible, as it does not involve using public money. However, it is hard to issue bonds on day one, as we do not have an established track record. It will be easier when we have become successful.

“Most importantly, we should have our infrastructure ready. When companies station at our park, we will consider issuing bonds when our budget is tight.”