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Following is a question by the Hon Albert Cheng and a written reply by the Secretary for Housing, Planning and Lands, Mr Michael Suen, in the Legislative Council today (April 26):
Question:
Regarding The Link Management Limited's ("The Link Management") letting the shops in shopping arcades and market stalls in public housing estates by batches to Single Operators, will the Government inform this Council:
(a) whether it knows if The Link Management has imposed any restrictions on the rate of increase in the rentals of market stalls to be introduced by Single Operators when the relevant tenancies expire this year;
(b) given that Single Operators were required by the Housing Authority ("HA") to let shops or market stalls according to the designated mix of trades, as well as designate the permitted types of trade for each shop/stall, whether the Administration has required The Link Management to impose the same requirements on its Single Operators; and
(c) given that HA had offered rent concessions to sub-tenants through Single Operators during economic downturn in the past few years, whether it knows if the same arrangements will still be adopted by The Link Management?
Reply:
Madam President,
Upon public listing of The Link Real Estate Investment Trust on November 25, 2005, the Link Management Limited (The Link) has become a private entity, whose business strategies and day-to-day operations are entirely independent of the Housing Authority. After the divestment, so long as The Link's operations comply with prevailing legislation, conditions of government leases, and terms of covenants and agreements made between The Link and the Housing Authority, the Government and the Housing Authority cannot intervene. There is no need for us to be apprised of the business relationships and contractual agreements between The Link and its tenants, nor should we ask The Link to implement any measures to manage its commercial facilities.
Ends/Wednesday, April 26, 2006
Issued at HKT 11:44
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