Following is the transcript of a media stand-up by the Secretary for Housing, Planning and Lands, Mr Michael Suen, after attending a radio programme this (April 2) morning (English portion):
Reporter: Can you explain why it's not the right time to resume the sale of HOS flats before 2006?
SHPL: We need to maintain the policy that we declared in 2002. There is certain expectancy that we should adhere to our policy so that there is predictability about our policy. In terms of the policy itself, after its introduction in 2002, we've seen the market stabilising and the supply and demand situation is approaching equilibrium, and so, we believe that, it is working. Therefore, we also believe that we should wait until the end of 2006 as we previously promulgated to allow the market more time to get to its equilibrium.
Reporter: You said the Link REIT may be listed again before the end of this year. How confident are you now that Madam Lo Siu-lan might be launching another legal action?
SHPL: In the best case scenario, if everything goes well, the earliest date (for the court case to be settled) could be as early as after summer this year. But I must emphasise, that is only a best case scenario.
Reporter: But if things don't go well when do you expect it be listed?
SHPL: I am afraid I can't say. Because it really depends on the grounds of appeal lodged by Madam Lo. If she chooses a route which would take a lot of time then it will be well beyond our control.
[Please also refer to the Chinese portion of the transcript]
Ends/Saturday, April 2, 2005
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