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Did the Government Lose $125 Million?; The Nature Conservancy in China; C.E. Donald Tsang in Legco; Music Matters (19 May 2006)


Is anyone to blame for Hong Kong losing $125 million in land premiums? According to the Audit Report on the issue, the granting of 10,700 square metres of bonus space to Henderson Land for the Grand Promenade Project not only cost the Hong Kong taxpayer that much, but also allowed the developer to make an extra $3.2 billion in profit. Legco's Public Accounts Committee expressed grave dismay over the loss, but a government-appointed independent panel last week said there was no loss to be dismayed about. Legislators are furious that the independent panel undermines their findings. The Nature Conservancy is a leading international, non-profit organisation dedicated to preserving the diversity of life on Earth. This week two major events in Hong Kong promoted, and raised funds for, the work they do in mainland China, including helping to preserve the environment of north-west Yunnan. The day before our show, Chief Executive Donald Tsang attended a question and answer session in the Legislative Council. It was a mostly uneventful session, although it did get stormy when he was asked about his tendency to "favour" certain political parties. Last week, figures from international entertainment and recording industry gathered at the Music Matters conference in Hong Kong to plot the future of the Asian music business and to examine and debate key issues. Many predicted we might well end up carrying our music collections around in our mobile phones.

The Pulse
Publish Date: 
Friday, May 19, 2006
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