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Author Archives: hksar gov

Money service operator convicted of operating without licence

     Two women were each fined $15,000 today (June 20) and disqualified from holding a Money Service Operator licence for 12 months at Kowloon City Magistrates’ Courts for operating a money service without a valid licence.

     Officers of the Customs and Excise Department (C&ED) on patrol earlier discovered a gold and jewellery shop in To Kwa Wan suspected of operating a money service without a licence.

     Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who wishes to operate a remittance and/or money changing service is required to apply for a licence from the C&ED. Any person who operates a money service without a valid licence commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for six months.

     Members of the public may report any suspected unlicensed money service operation to Customs’ 24-hour hotline 2545 6182 or its crime-reporting email account (crimereport@customs.gov.hk). read more

Unlicensed collector and illegal recycler fined for illegal handling of spent lubricating oil

     An unlicensed collector delivered spent lubricating oil collected illegally to an illegal recycler in Tsz Wan Shan for processing. The collector and the recycler involved were convicted and fined a total of $25,000 at the Kwun Tong Magistrates’ Courts today (June 20) for contravening the Waste Disposal Ordinance (WDO) and the Waste Disposal (Chemical Waste) (General) Regulation.

     During an enforcement operation in December last year, the Environmental Protection Department (EPD) intercepted an unlicensed collector delivering by truck around 1 000 litres of spent lubricating oil, which is classified as chemical waste, collected from garages to Ngan Kee Petroleum Limited on Tsui Fung Street in Tsz Wan Shan. In addition, enforcement officers discovered around 600 litres of spent lubricating oil and mixers as well as stirrers inside Ngan Kee. Upon investigation, it was found that the company illegally blended spent oil with other petroleum products for processing and resold the mixture for profit. After gathering evidence, the EPD initiated prosecutions against the unlicensed collector and Ngan Kee under the WDO and the Waste Disposal (Chemical Waste) (General) Regulation. Lately, EPD enforcement officers conducted another inspection of the company and noticed that no spent lubricating oil or other chemical waste were handled or stored there. The EPD trusts that the enforcement action taken by the department has exerted a deterrent effect.

     An EPD spokesman explained that spent lubricating oil generated from vehicle maintenance workshops is classified as chemical waste and contains various harmful chemicals. Improper handling of spent lubricating oil will pollute the environment and cause harm to public health.

     The spokesman reminded all operators of garages and members of the vehicle repair business that they should register as chemical waste producers with the EPD in accordance with the Waste Disposal (Chemical Waste) (General) Regulation. Chemical waste must be properly packaged, labelled and stored, and has to be collected by licensed chemical waste collectors for delivery to licensed chemical waste disposal facilities for treatment. Anyone engaged in the collection or disposal (including treatment, reprocessing or recycling) of chemical waste without a licence will be prosecuted. First-time offenders are liable to a maximum fine of $200,000 and six months’ imprisonment.

     Members of the public may visit the EPD’s website for more information about the control of chemical waste: www.epd.gov.hk/epd/english/environmentinhk/waste/guide_ref/guide_cwc.html. read more

Result of tenders of RMB Sovereign Bonds held on June 20, 2019

The following is issued on behalf of the Hong Kong Monetary Authority:

     Result of the tenders of RMB Sovereign Bonds held on June 20, 2019:
 

Tender Result
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Tender Date : June 20, 2019
     
Bonds available for Tender : 2-year RMB Bonds
     
Issue Number : BCMKFB19023
     
Issue Date : June 24, 2019
     
Maturity Date : June 24, 2021 (or the closest coupon payment date)
     
Application Amount : RMB 11,243 million
     
Issue Amount : RMB 3,500 million
     
Average accepted Coupon Rate : 2.79 per cent
     
Highest accepted Coupon Rate
(Bonds’ Coupon) : 2.95 per cent
     
Lowest accepted Coupon Rate : 2.50 per cent
     
Allocation Ratio : Approximately 1.51 per cent
 
Tender Result
*********************************************************************
     
Tender Date : June 20, 2019
     
Bonds available for Tender : 5-year RMB Bonds
     
Issue Number : BCMKFB19024
     
Issue Date : June 24, 2019
     
Maturity Date : June 24, 2024 (or the closest coupon payment date)
     
Application Amount : RMB 4,387 million
     
Issue Amount : RMB 1,000 million
     
Average accepted Coupon Rate : 2.92 per cent
     
Highest accepted Coupon Rate
(Bonds’ Coupon) : 3.03 per cent
     
Lowest accepted Coupon Rate : 2.70 per cent
     
Allocation Ratio : Approximately 42.96 per cent
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