The Labour Department (LD) today (May 3) reminded operators of employment agencies (EAs) to conduct their business in compliance with the law and the requirements of the Code of Practice for EAs (the Code) at all times. &nb… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today (May 3) the results of Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the first quarter of 2021.
Regarding SMEs’ perception of banks’ credit approval stance relative to six months ago, excluding respondents who answered “no idea/don’t know”, 70 per cent perceived similar or easier credit approval stance in the first quarter of 2021, up from 65 per cent in the previous quarter. 30 per cent perceived more difficult credit approval stance, down from 35 per cent in the previous quarter (Chart 1 in the Annex). The perception of more difficult credit approval stance may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.
Of respondents with existing credit lines, 93 per cent reported that banks’ stance on existing credit lines was easier or unchanged in the first quarter of 2021, compared with 95 per cent in the previous quarter (Chart 2 in the Annex). 7 per cent of the respondents reported tighter banks’ stance on existing credit lines in the first quarter of 2021, compared with 5 per cent in the previous quarter. In this survey, tighter stance on existing credit lines denotes a range of possible measures or arrangements, such as reducing unused and used credit lines, raising the interest rate, imposing additional collateral requirements, or shortening loan tenor. Therefore, respondents’ indication of banks’ stance on existing credit lines may not directly reflect banks’ supply of credit to SMEs.
The survey also gauged the results of new credit applications from SMEs. 4 per cent of the respondents reported that they had applied for new bank credit during the first quarter of 2021. Among the respondents who had already known their application outcomes, 92 per cent reported fully or partially successful applications, compared with 93 per cent in the previous quarter (Chart 3 in the Annex). 8 per cent reported unsuccessful applications, compared with 7 per cent in the previous quarter.
Owing to small sample sizes of SMEs with existing credit lines (14 per cent of surveyed SMEs) and with new credit applications (4 per cent of surveyed SMEs) during the quarter, the results could be prone to large fluctuations, and hence should be interpreted with care.
About Survey on SMEs’ Credit Conditions
In light of the importance of SMEs to the Hong Kong economy and concerns about potential funding difficulties facing SMEs over the past few years, the HKMA has appointed the Hong Kong Productivity Council (HKPC) to carry out this survey, starting from the third quarter of 2016. This survey is conducted on a quarterly basis, covering about 2 500 SMEs from different economic sectors each time. The results of this survey can help monitor the development of SMEs’ access to bank credit from a demand-side perspective.
The results of this survey should be interpreted with caution. Similar to other opinion surveys, views collected in this survey may be affected by changes in sentiment due to idiosyncratic events that occurred over the survey period, which can make the results prone to fluctuations. Readers are advised to interpret the results together with other economic and financial information. In addition, views collected are limited to the expected direction of inter-quarter changes (e.g. “tighter”, “no change” or “easier”) without providing information about the magnitude of these changes.
Detailed tables and technical information of this survey are published on the website of the HKPC (smecc.hkpc.org). read more
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announces today (May 3) the rel… read more
The Food and Environmental Hygiene Department (FEHD) announced today (May 3) that some 20,000 new extendable niches at Block B, Wo Hop Shek Columbarium Phase VI, Fanling, will be open for application from May 11 to June 10.
An FEHD spokesman said, “Further to the previous allocation of new niches at Tsang Tsui Columbarium (Phase II) and Block A, Wo Hop Shek Columbarium Phase VI last year, the FEHD will launch a new round of the niche allocation exercise. A total of 22 050 extendable niches, including 21 720 standard niches (11 490 smoke-free niches and 10 230 non-smoke-free niches) and 330 large niches (160 smoke-free niches and 170 non-smoke-free niches) at Block B, Wo Hop Shek Columbarium Phase VI, will be allocated.”
Applicants should only file one application form to apply for either a large niche or standard niche for the same deceased person. When applying for a large niche, the applicant has to fill in at least three deceased persons’ particulars in the application form. For applying for a standard niche, the applicant has to fill in at least one deceased person’s particulars.
The spokesman said, “In order to expedite the allocation process, the priorities of successful applicants for niche allocation and the designated niches assigned to them are to be determined by the drawing of lots and computer random balloting. The niches will not be chosen by the applicants themselves. The successful applicants can make use of the niche location enquiry system on the FEHD website to enquire as to the location of the niches concerned. If the applicant decides to take up the designated niche, he or she must complete the relevant formalities and settle the payments at the Public Niche Allocation Office according to the scheduled date and time.
As regards the ashes’ interment period, the initial interment period is 20 years after allocation of a niche to the applicant and can be extended at 10-year intervals. On expiry of the interment period, as long as the related persons confirm extension of the interment period and pay the prevailing prescribed fee, the use of the allocated niche can be continued.
The spokesman added, “Since the quantity of each type of niches (standard/large, smoke-free or non-smoke-free) available for allocation in the columbarium is different, the chance of successful allocation varies. When deciding the type of niche to be selected for application, applicants should make reference to relevant information in the application form for assessing the chance of successful allocation.”
Leaflets about the arrangement of this niche allocation exercise are available for collection from today at the department’s Hong Kong or Kowloon Cemeteries and Crematoria Office, District Environmental Hygiene Offices and Home Affairs Enquiry Centres of the Home Affairs Department. For details, please visit the FEHD website, or call 2841 9111 or email to enquiry_newniche@fehd.gov.hk.
Starting from May 11, application forms can be downloaded from the FEHD website (www.fehd.gov.hk) or obtained from the department’s Hong Kong or Kowloon Cemeteries and Crematoria Office, District Environmental Hygiene Offices, Home Affairs Enquiry Centres of the Home Affairs Department, or by fax via the hotline 2841 9111. The completed application form together with copies of the required documents shall be submitted within the application period by fax (2333 1716), email (apply_newniche@fehd.gov.hk), or in person to the FEHD Hong Kong or Kowloon Cemeteries and Crematoria Office or by post to the above offices.
The spokesman advised applicants to utilise the online application form and submit their applications online so as to avoid postal delays or non-delivery. The FEHD will notify the successful applicants by SMS, email or post of the serial number of the designated niche allocated. Applicants can also check the results of their applications on the next day after the drawing of lots and computer random balloting at the FEHD website, Hong Kong or Kowloon Cemeteries and Crematoria Office, Public Niche Allocation Office or through the enquiry hotline 2841 9111.
The FEHD has launched a subscription scheme for new niche allocation announcements since February 27, 2020, to enable members of the public to receive the department’s relevant annual announcements. Subscribers can choose to receive notifications by SMS and/or email.
Information on the Cemeteries and Crematoria Offices and Public Niche Allocation Office of the FEHD is as follows:
Hong Kong Cemeteries and Crematoria Office
Address: 1J, Wong Nai Chung Road, Happy Valley, Hong Kong
Tel: 2570 4318
Fax: 2591 1879
Kowloon Cemeteries and Crematoria Office
Address: Upper Ground Floor, 6 Cheong Hang Road, Hung Hom, Kowloon
Tel: 2365 5321
Fax: 2176 4963
Public Niche Allocation Office
Address: Units 3501-3511 & 3520-3525, 35/F, Tower 1, Metroplaza, 223 Hing Fong Road, Kwai Fong, New Territories
Tel：2330 5635
Fax：2333 1716 read more
Police today (May 3) appealed to the public for information on a man who went missing in Wong Tai Sin. Yeung Hon-wah, aged 67, went missing after he was last seen at a mall in Tsz Ching Est… read more