#Sanction
HK Officials sanctioned by the US hold properties with mortgage from two Chinese-owned banks
The US slapped sanctions on four more Chinese-Hong Kong officials on November 9, 2020, including Deputy Commissioner of Police (National Security), Lau Chi-wai and Senior Superintendent of the National Security Department of the Hong Kong Police Force, Li Kwai-wah.
According to Stand News, information obtained from the Land Registry shows that Lau and Li each wholly owns a residential property with mortgages from two different Chinese-owned banks, Chong Hing Bank Limited and Bank of China (Hong Kong). Their mortgages are not paid off.
The two banks have not responded to whether they would comply with the sanctions.
The Stand News reached out to the Police Public Relations Branch (#PPRB) for comments but there was no official response. The Stand News are awaiting response from the said banks on whether they would follow U.S. sanctions measures and if Lau and Li’s mortgages would be affected.
The Financial Times reported days ago the Hong Kong Securities Regulatory Commission made a private promise to international banks in Hong Kong that by complying with US sanctions they are unlikely to violate the National Security Law.
The Securities Regulatory Commission responded to the Stand New’s inquiries, saying they did not wish to comment on the content of the report.
Source: Stand News #Nov10
https://bit.ly/35ge1lX
#NationalSecurityLaw #SecuritiesRegulatoryCommission #LauChiWai #LiKwaiWah #Property
HK Officials sanctioned by the US hold properties with mortgage from two Chinese-owned banks
The US slapped sanctions on four more Chinese-Hong Kong officials on November 9, 2020, including Deputy Commissioner of Police (National Security), Lau Chi-wai and Senior Superintendent of the National Security Department of the Hong Kong Police Force, Li Kwai-wah.
According to Stand News, information obtained from the Land Registry shows that Lau and Li each wholly owns a residential property with mortgages from two different Chinese-owned banks, Chong Hing Bank Limited and Bank of China (Hong Kong). Their mortgages are not paid off.
The two banks have not responded to whether they would comply with the sanctions.
The Stand News reached out to the Police Public Relations Branch (#PPRB) for comments but there was no official response. The Stand News are awaiting response from the said banks on whether they would follow U.S. sanctions measures and if Lau and Li’s mortgages would be affected.
The Financial Times reported days ago the Hong Kong Securities Regulatory Commission made a private promise to international banks in Hong Kong that by complying with US sanctions they are unlikely to violate the National Security Law.
The Securities Regulatory Commission responded to the Stand New’s inquiries, saying they did not wish to comment on the content of the report.
Source: Stand News #Nov10
https://bit.ly/35ge1lX
#NationalSecurityLaw #SecuritiesRegulatoryCommission #LauChiWai #LiKwaiWah #Property
#FarEastConsortium
#DirtyMoney: #iCable owner Chiu Tat-cheong earns profit in UK property project at the expense of press freedom in Hong Kong
On December 1, 2020, paid TV station i-Cable chairman Chiu Tat-cheong announced the layoff or re-deployment of a total of 100 staffs, while remaining silent on the selective layoff of all team members of "News Lancet", the only investigative program in Hong Kong.
The sackings were described by the Hong Kong Journalists Association as media suppression.
As the chairman of Far East Consortium at the same time, Chiu has widened his property search to the UK. Chiu admitted earlier that the National Security Law in Hong Kong helps to push the number of Hong Kong buyers up for its property projects in the UK. He showed support for the draconian law and claimed that their UK properties will be snapped up if all three million Hong Kong BNO holders are to settle in the UK.
21,300 (about 83%) out of the 56,600 residential units launched by Hong Kong or Chinese property developers in the UK since 2019 are owned by Far East Consortium, including New Cross Central, Aspen at Consort Place, and other 4 projects. One of the projects Northern Gateway plans for a long-term construction in the future 15-20 years on the 155-hectare land in cooperation with the Manchester City Council.
Another shareholder of i-Cable Li Sze-lim owns 3,900 residential units under his real estate developer R&F Properties, including One Nine Elms, Vauxhall Square, and other 2 investment projects. Li also owns more than half of the units launched by the Chinese developers, such as Vanke and Country Garden.
A total of 25,200 units are launched by Far East Consortium and R&F Properties, which is a hundreds of millions-worth business. Most of the projects started several years before, and come to finish in 2020, which coincides with the mass immigration wave of Hongkongers following the imposition of the National Security Law in Hong Kong.
With the businessmen's tougher suppression of press freedom in Hong Kong, it is not hard to imagine that a mass exodus will result in hot demand for UK properties.
Source: Liber Research Community #Dec2
https://m.facebook.com/story.php?story_fbid=3627752037320843&id=244689185627162
#iCable #NewsLancet #PressFreedom #NationalSecurityLaw #Migration #UK #Property #ChiuTatCheong #LiSzeLim
#DirtyMoney: #iCable owner Chiu Tat-cheong earns profit in UK property project at the expense of press freedom in Hong Kong
On December 1, 2020, paid TV station i-Cable chairman Chiu Tat-cheong announced the layoff or re-deployment of a total of 100 staffs, while remaining silent on the selective layoff of all team members of "News Lancet", the only investigative program in Hong Kong.
The sackings were described by the Hong Kong Journalists Association as media suppression.
As the chairman of Far East Consortium at the same time, Chiu has widened his property search to the UK. Chiu admitted earlier that the National Security Law in Hong Kong helps to push the number of Hong Kong buyers up for its property projects in the UK. He showed support for the draconian law and claimed that their UK properties will be snapped up if all three million Hong Kong BNO holders are to settle in the UK.
21,300 (about 83%) out of the 56,600 residential units launched by Hong Kong or Chinese property developers in the UK since 2019 are owned by Far East Consortium, including New Cross Central, Aspen at Consort Place, and other 4 projects. One of the projects Northern Gateway plans for a long-term construction in the future 15-20 years on the 155-hectare land in cooperation with the Manchester City Council.
Another shareholder of i-Cable Li Sze-lim owns 3,900 residential units under his real estate developer R&F Properties, including One Nine Elms, Vauxhall Square, and other 2 investment projects. Li also owns more than half of the units launched by the Chinese developers, such as Vanke and Country Garden.
A total of 25,200 units are launched by Far East Consortium and R&F Properties, which is a hundreds of millions-worth business. Most of the projects started several years before, and come to finish in 2020, which coincides with the mass immigration wave of Hongkongers following the imposition of the National Security Law in Hong Kong.
With the businessmen's tougher suppression of press freedom in Hong Kong, it is not hard to imagine that a mass exodus will result in hot demand for UK properties.
Source: Liber Research Community #Dec2
https://m.facebook.com/story.php?story_fbid=3627752037320843&id=244689185627162
#iCable #NewsLancet #PressFreedom #NationalSecurityLaw #Migration #UK #Property #ChiuTatCheong #LiSzeLim