Author Archives: hksar gov

     The Chairman and Commissioner of the Commission of Inquiry (the Commission) into the Construction Works at and near the Hung Hom Station Extension under the Shatin to Central Link (SCL) Project, Mr Michael Hartmann, accompanied by the Commissioner of the Commission, Professor Peter Hansford, presented an interim report to the Chief Executive today (February 25). The interim report covers the original terms of reference of the Commission appointed on July 10, 2018 concerning the diaphragm wall and platform slab construction works at the Hung Hom Station Extension under the SCL Project implemented by the MTR Corporation Limited (MTRCL), as well as related systemic issues. 
 
     The Chief Executive, Mrs Carrie Lam, expressed appreciation to Mr Hartmann and Professor Hansford for their dedicated efforts in conducting the inquiry and preparing the interim report on the Commission’s original inquiry scope in less than eight months. 
 
     “The Government attaches importance to safeguarding public safety and promoting assurance on works quality in taking forward our infrastructure projects. We will give careful consideration to the Commission’s interim report. We also look forward to the early completion of the extended part of the Commission’s inquiry,” Mrs Lam said.
 
     The Government will carefully study the interim report, and consult the Department of Justice on the manner of the publication of the interim report and other relevant matters. The Government will publish the report in an appropriate manner once a decision is made.
 
     The Commission was appointed on July 10, 2018 to inquire into the steel reinforcement fixing works and any other works which raise public safety concerns in respect of the diaphragm wall and platform slab construction works at the Hung Hom Station Extension under MTRCL’s Contract No. 1112 under the SCL Project. Originally required to report its findings and recommendations to the Chief Executive within six months from the date of appointment, i.e. by January 9, 2019, the Commission was granted an extension of time at its request until February 26, 2019 to submit its report in view of the extensive scope of its inquiry, the complexity of the matters under examination and the large number of witnesses involved.  
 
     On February 19, 2019, in the light of the irregularities that have recently come to light concerning the construction works at the North Approach Tunnels, the South Approach Tunnels and the Hung Hom Stabling Sidings under the same works contract, the Chief Executive in Council approved the expansion of the terms of reference of the Commission to cover these works and related matters as well as a further extension of time for the Commission to submit its report to the Chief Executive by August 30, 2019 or such time as the Chief Executive in Council may allow. The Commission may submit interim reports on any aspects of the inquiry as it may see fit under the terms of its appointment.

read more

     The following is issued on behalf of the Commission of Inquiry into the Construction Works at and near the Hung Hom Station Extension under the Shatin to Central Link Project:
 
     The Commission of Inquiry into the Diaphragm Wall and Platform Slab Construction Works at the Hung Hom Station Extension under the Shatin to Central Link Project was appointed by the Chief Executive in Council on July 10, 2018.
 
     The Commission of Inquiry conducted 46 days of substantive hearing between October 22, 2018, and January 29, 2019, and heard evidence from 72 witnesses. In addition, the Commission of Inquiry admitted 14 witness statements and an expert report into evidence without the witnesses being called to give evidence at the substantive hearing.
 
     In view of the extensive scope of the inquiry, the complexity of the matters under examination and the large number of witnesses involved, the Commission of Inquiry needed an extension of time to consider the evidence and complete its report, and obtained the approval of the Chief Executive in Council on December 4, 2018, to submit its report by February 26, 2019.
 
     On February 19, 2019, the Chief Executive in Council decided to expand the terms of reference of the Commission of Inquiry to also ascertain the relevant facts and recommend appropriate improvement measures relating to the irregularities that have recently surfaced in the construction of the North Approach Tunnels, the South Approach Tunnels and the Hung Hom Stabling Sidings under the MTR Corporation Limited’s Contract No. 1112. The Commission of Inquiry has been retitled Commission of Inquiry into the Construction Works at and near the Hung Hom Station Extension under the Shatin to Central Link Project to reflect the expanded terms of reference.
 
     Pursuant to the Chief Executive in Council’s earlier approval for an extension of time given on December 4, 2018, the Commission of Inquiry has submitted its interim report to the Chief Executive today (February 25) on its findings and recommendations on matters covered by the original terms of reference. read more

     The Customs and Excise Department (Hong Kong Customs) obtained an accreditation approval from the Hong Kong Council for Accreditation of Academic and Vocational Qualifications (HKCAAVQ) in December 2018 to include its induction programmes for Inspectors and Customs Officers in the Qualifications Register. With the approval, Hong Kong Customs has become the second disciplinary force in Hong Kong after the Hong Kong Police Force to offer Qualifications Framework-recognised induction programmes to staff of both the rank-and-file and officer grades. The Customs and Excise Training School (CETS) has also been renamed as Hong Kong Customs College since January 1 this year, marking a new era for the department’s manpower training.

     The Commissioner of Customs and Excise, Mr Hermes Tang, officiated at a ceremony today (February 25) at Hong Kong Customs College to mark the launch of the department’s recognised training programmes. The HKCAAVQ’s Chairman, Dr Alex Chan, and its Executive Director, Mr Albert Chow, also joined the ceremony.

     Speaking at the ceremony, Mr Tang said that Hong Kong Customs has all along valued high talent training. In the past 44 years, Hong Kong Customs College has kept up refining and reinforcing its teaching and training facilities so that trainees can acquire promptly the operational skills under the rapid development of society and the fast-changing front-line environment.

     Mr Tang said that apart from stepping up the current duties, Hong Kong Customs also needs to develop along the smart customs blueprint to meet the ever-changing challenges in trade facilitation and law enforcement under the context of the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development.

     “There is a need for the department to boost the talent pool. Through its own quality assurance mechanism, Hong Kong Customs College will continue to design and refine its induction and in-service training programmes to ensure the officers’ professionalism in taking up all sorts of challenges ahead,” Mr Tang said.

     He also said that the accreditation presents an extraordinary gift to the department, as this year marks the 70th anniversary of the establishment of the People’s Republic of China and the 110th anniversary of the department’s establishment.

     The two programmes accredited are “Professional Diploma in Customs Management for Inspectors” at QF Level 5 (pitched at the same QF level as a local Bachelor’s Degree) and “Professional Diploma in Customs Operations for Customs Officers” at QF Level 4 (pitched at the same QF level as a local Associate Degree or a Higher Diploma).

     All Probationary Inspectors and Probationary Customs Officers admitted after the accreditation approval will be awarded the relevant diplomas upon their completion of the induction programmes.

     The first batch of new recruits enrolled in the accredited programmes also joined today’s launching ceremony. Comprising 64 Probationary Inspectors and 124 Probationary Customs Officers, the classes started last month. The Probationary Inspectors will graduate in August while the Probationary Customs Officers will finish the programme in May.

     The professional training of Hong Kong Customs has long been recognised by the World Customs Organization (WCO). As early as March 2004, the then CETS had been designated as the WCO’s regional training centre to offer professional customs training to the WCO’s members in the Asia-Pacific region in a step to reinforce the department’s global partnership.

     Established in 1974, the CETS provided professional training for the department’s new recruits and in-service officers as well as officers from the customs administrations in the Asia-Pacific region.

     In order to encourage the department’s officers to pursue continuous and lifelong learning, Hong Kong Customs College will explore course-exemption arrangements with tertiary institutions to facilitate the further studies of accredited programmes’ graduates.

     Leaflets have been produced to introduce details of the accredited induction programmes (see annex).

read more

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

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (February 25) that a tender of 15-year Government Bonds (Bonds) under the Institutional Bond Issuance Programme will be held on Wednesday (March 6), for settlement on Thursday (March 7).
 
     A total of HK$0.6 billion 15-year Bonds will be tendered. The Bonds will mature on March 7, 2034 and will carry interest at the rate of 2.02 per cent per annum payable semi-annually in arrears.
 
     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme’s website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
 
     Tender results will be published on the HKMA’s website, Government Bond Programme’s website, the Reuters screen (HKGBINDEX) and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 
HKSAR Government Institutional Bond Issuance Programme Tender Information
——————————————————————————————————–
Tender information of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number	:	15GB3403
Stock code	:	4237 (HKGB 2.02 3403)
Tender Date and Time	:	March 6, 2019 (Wednesday) 9:30 am to 10:30 am
Issue and Settlement Date	:	March 7, 2019 (Thursday)
Amount on Offer	:	HK$0.6 billion
Maturity	:	Fifteen years
Maturity Date	:	March 7, 2034
Interest Rate	:	2.02 per cent p.a., payable semi-annually in arrears
Interest Payment Dates	:	September 9, 2019 March 9, 2020 September 7, 2020 March 8, 2021 September 7, 2021 March 7, 2022 September 7, 2022 March 7, 2023 September 7, 2023 March 7, 2024 September 9, 2024 March 7, 2025 September 8, 2025 March 9, 2026 September 7, 2026 March 8, 2027 September 7, 2027 March 7, 2028 September 7, 2028 March 7, 2029 September 7, 2029 March 7, 2030 September 9, 2030 March 7, 2031 September 8, 2031 March 8, 2032 September 7, 2032 March 7, 2033 September 7, 2033 March 7, 2034
Method of Tender	:	Competitive tender
Tender Amount	:	Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list.
Other details	:	Please see Information Memorandum available on the Government Bond Programme’s website at www.hkgb.gov.hk or approach Primary Dealers.
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited	:	March 8, 2019

 
 
Price/Yield Table of the new Government Bonds at tender for reference* only :
 

Yield-to-Maturity	Price	Yield-to-Maturity	Price
1.020	113.91	2.020	100.13
1.070	113.18	2.070	99.49
1.120	112.44	2.120	98.86
1.170	111.71	2.170	98.24
1.220	110.99	2.220	97.61
1.270	110.27	2.270	97.00
1.320	109.56	2.320	96.38
1.370	108.85	2.370	95.77
1.420	108.15	2.420	95.17
1.470	107.45	2.470	94.57
1.520	106.76	2.520	93.97
1.570	106.08	2.570	93.38
1.620	105.40	2.620	92.80
1.670	104.72	2.670	92.22
1.720	104.05	2.720	91.64
1.770	103.38	2.770	91.06
1.820	102.72	2.820	90.50
1.870	102.07	2.870	89.93
1.920	101.42	2.920	89.37
1.970	100.77	2.970	88.81
2.020	100.13	3.020	88.26

* Disclaimer

     The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

     A man who went missing in Sheung Shui has been located.      Zhou Yu-lun, aged 72, went missing after he was last seen in MTR Sheung Shui Station on November 8, 2018 afternoon. His family made a… read more