Planning and Lands (English Portion)
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Following is the transcript (English portion) of a media stand-up at West Wing, CGO by the Secretary for Housing, Planning and Lands and Chairman of Hong Kong Housing Authority, Mr Michael Suen, on the Housing Authority's decision to re-launch global offering of units in a REIT (September 6):
Reporter: Can you give details of the re-launch?
Secretary for Housing, Planning and Lands: I'm afraid today is not really the opportunity to disclose details about the re-launch. But I'm happy here to confirm that the Housing Authority (HA) this afternoon has made an application to the SFC for a re-launch of The Link REIT.
Reporter: How can you ensure that the listing will go smoothly and there's no legal challenge or outstanding obstacles of any kind?
Secretary for Housing, Planning and Lands: I think everyone appreciates that after the experience last year, we have consulted very widely the legal fraternity both here and in London about the risks that we might face in this re-launch. So after very careful consideration of all on the different risks involved, we believe that we can overcome that by making suitable disclosure.
Reporter: What are these disclosures?
Secretary for Housing, Planning and Lands: I'm afraid I cannot disclose any further details today but it will emerge during the course of time.
Reporter: How do you expect The Link REIT shareholders to react to your decision?
Secretary for Housing, Planning and Lands: I hope we'll get a very favourable response.
(Please also refer to Chinese portion of the transcript.)
Ends/Tuesday, September 6, 2005
Issued at HKT 18:36
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