Sunday 7th March 2010
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Proposed law sells HK short
If the Government consulted the public on a speed limit of 50km/h, then set it at 4km/h, wouldn't you wonder why? That's what the SFC has done after a consultation which from the outset was a solution in search of a non-existent problem. We call on the SFC to withdraw or amend its proposed filing requirements for 0.02% short positions and to focus with Government on filling the gap in the existing law by requiring public disclosure of short positions, including derivatives, at the same level as long positions, currently 5%. What do you think? Take our poll!
Larvotto - do you know the boatyard?
We probe the history of the SHKP/Kerry/Paliburg Larvotto, a luxury industrial-cum-residential project overlooking a typhoon shelter but behind boatyards and sawmills, which are noisy enough for the Environmental Protection Department to object to the Town Planning Board's approval, as minutes reveal. "Non-openable windows" were cited as a mitigating measure. Yours for just HK$25k/psf - can you see the bubble? (3-Mar-10)
HK's stamp duty
We look at the HK Government's opium-like addiction to stamp duty revenues, which have more than quintupled in 7 years. The budget asks for another fix. Stamp duty is sand in the wheels of the economy, distorting economic decisions and reducing economic output. It should be abolished rather than increased further. Higher stamp duty does not improve property affordability. HK needs a root-and-branch review of taxation to refocus on fair taxation of GDP rather than one-off measures and distortive policies. (2-Mar-10)
We look at the HK Government's media management strategy, involving abuse of unattributed briefings, and the quotation of imaginary spokespersons, 97.3% of whom are male. The HK media should put a stop to this practice. (28-Feb-10)
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