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Sun Hung Kai Properties has no plan to cut staff, bonuses |
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China Knowledge Online |
21-11-2008 |
Sun Hung Kai Properties<16>, Hong Kong's second-largest real estate developer, has no plan for layoffs and will grant staff their year-end double pay and bonus next month, the South China Morning Post reported Friday, citing Thomas Kwok Ping-kwong, vice-chairman and managing director, as saying .
Kwok said he believes Hong Kong would remain a financial center in the long run despite the current financial turmoil and economic recession, and cautions people should stay calm when hit by a financial tsunami.
However, Kwok said it was hard to assess the impact on Hong Kong as no one knew "how deep and how long" the crisis would be, adding Sun Hung Kai would not suspend its new investment plans in spite of the unstable economic outlook.
He also said, the group would take into account current market transactions before pricing its new projects amid falling prices in the secondary market in the city.
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