Hong Kong's MPF authority seeks missing payments for workers of now-closed chain
The Mandatory Provident Fund Schemes Authority said on Friday that it was pursuing the failed contributions in April and May.
Lawmaker Kwok Wai-keung confirmed the restaurant's closure on July 9 and that about 20 affected staff had reached out to the Labour Department for help on Friday afternoon.
He said that the Protection of Wages on Insolvency Fund could not cover missing payments for the Mandatory Provident Fund and that if companies decided to shut down, they should not leave their staff bearing losses.
'I urge the industry to stop employing foreign labour to protect ours. If companies plan to do so, authorities should first make sure that workers who are laid off due to sudden closures are employed.'
The shutdown of the branch at MegaBox shopping centre in Kowloon Bay marked the exit of the entire chain that once boasted six outlets at its peak in the city.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
China's SpinQ sees quantum computing crossing ‘usefulness' threshold within 5 years
Quantum computing is poised to reach a tipping point in three to five years by becoming useful for solving real-world problems, as computers harnessing about 500 qubits become a reality, according to Chinese start-up SpinQ. Founded in 2018 and based in Shenzhen, SpinQ has two main product lines: small-scale nuclear magnetic resonance (NMR) quantum computers with about three qubits for educational use and industrial-grade superconducting quantum computers with up to 20 qubits. In 2020, SpinQ launched the world's first programmable desktop NMR quantum computer. In 2023, it shipped a superconducting quantum chip to the Middle East , marking China's first export of such technology. SpinQ said it sold a range of products – including educational quantum computers, superconducting quantum computers, chips, quantum measurement and control systems and application software – to over 50 countries. But SpinQ founder and CEO Xiang Jingen said quantum computing still had a lot of work to do before it was broadly applicable. He compared today's quantum technology to semiconductors in the 1950s, a time when computers were expensive and large and transitioning from vacuum tubes to transistors – and then to integrated circuits.
South China Morning Post
2 hours ago
- South China Morning Post
Shareholders of mainland Chinese firms look to Hong Kong for family offices: asset manager
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. 'This week alone, I have met two clients inquiring about family office services and tonight I am meeting another – lots of overtime,' said Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital, in an interview on Wednesday. With a US$100 million minimum threshold of entry for its multifamily office services, the firm – established in 2021 – served 10 clients, managing a total of US$1.5 billion to US$2 billion. Around 70 per cent of these clients were shareholders of Hong Kong-listed companies with market capitalisations of HK$5 billion (US$637 million) to HK$50 billion. Wang noted a rise in demand from such clients over the past year, a trend he expected to continue with a growing number of mainland companies lining up for share sales. The city's bourse has hosted 50 listings, raising a total of US$15.8 billion as of July 16. Of those, 44 firms hailed from the mainland, accounting for most of the funds raised, according to data provided by the London Stock Exchange Group. View of West Kowloon in Hong Kong. Photo: Jonathan Wong
South China Morning Post
3 hours ago
- South China Morning Post
New solutions to Hong Kong's old traffic problems are much needed
Traffic congestion in Hong Kong is not as bad as in many other cities. However, the slow movement of people and goods has been bad enough to steadily 'erode the environment, sustainability, quality of life and competitiveness', according to a 2014 government study. More than two decades of work to expand infrastructure and reduce the number of private cars have not tamed Hong Kong's traffic troubles, so it is good that authorities and lawmakers are searching for new solutions. Advertisement Progressive fees and a cap on how long vehicles can occupy metered parking spaces are among the ideas being put forward. The suggestions followed a slew of recent government proposals to adjust traffic-related charges, including doubling rates at car parks. Officials have also suggested raising tolls at the Aberdeen Tunnel and Shing Mun Tunnels, changes to the licence fee structure and amounts for electric private cars, adjustments to fixed penalties for traffic offences and doubling parking meter charges. Hong Kong had around 20,000 metered parking spaces citywide as of the end of 2024. Abuse of the devices is persistent. Some drivers occupy spots for extended periods – sometimes for days – by continuously feeding meters. Others circle around searching for the relatively cheap metered spots, worsening traffic congestion. If meter fees increase, it would be from HK$2 (25 US cents) to HK$4 per 15 minutes. Lawmakers have suggested restricting the number of hours a car can park in the same spot or a progressive system, so longer stays incur higher fees. Others have called for registering licence plates or even implementing congestion charges or electronic road pricing. Since the 1980s, there have been several trials of such fees on motorists in central areas during rush hour. Advertisement Approaches so far have been piecemeal and lacked resolve. Parking fee increases are long overdue and would be the first since 1994. Additional revenue could be timely support for the city as it struggles with a budget deficit and to reinvigorate the economy.
