Apple supplier Goertek to buy Luen Fung Commercial's units for $10.4 billion
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
Hong Kong must grow ‘exponentially' to match Shenzhen: outgoing Science Park CEO
Hong Kong will have to grow 'exponentially' before it can be compared to the likes of Shenzhen with its innovation and technology (I&T) ecosystem, a goal that can be achieved by bringing in talent and capital, the Science Park's outgoing CEO has said. Advertisement In an exclusive interview before he steps down on Friday, Albert Wong Hak-keung said the government-backed innovation hub at Pak Shek Kok had come a long way from its early days about two decades ago, from first being seen as simply a landlord to now staking its claim as a start-up incubator for the city's future growth. 'At the beginning, we were struggling to determine whether Science Park is a real estate project or what we are,' said Wong, who joined the Hong Kong Science and Technology Parks Corporation in 2016. He will be succeeded by Terry Wong Ping-sau, who has 30 years of global executive leadership experience across Asia-Pacific, the Middle East, Europe and the United States. The outgoing CEO said he had not yet made any future plans. Advertisement The Science Park supports 700 to 1,000 start-ups at any given time with incentives such as allowing them to operate rent-free in the first year, and provides communal facilities including semiconductor, biomedical and robotics labs, along with an extensive incubation programme.
South China Morning Post
2 hours ago
- South China Morning Post
Pragmatic approach will help take Northern Metropolis forward
The sluggish economy has not just taken a heavy toll on the property sector. The government is also suffering as a result, with land revenues shrinking and development projects curtailed. In an unusual step, the Development Bureau cancelled tenders for two sites earmarked for multi-storey buildings for modern industries in the New Territories, just days ahead of the deadline for submission. Instead, the Hong Kong Science and Technology Parks Corporation will take over the Yuen Long plot to build a microelectronics ecosystem to promote high-value-added new industrialisation. The other site in Hung Shui Kiu will be included in a study, under which the government aims to establish a company to run an industrial estate in the area. The bureau did not say whether the projects fell through because of lukewarm market response. It said the cancellation was to facilitate the efficient implementation of more pragmatic arrangements and strengthen the government's leading role in speeding up the anchoring of industries in the Northern Metropolis , a megaproject to turn the northern New Territories near the border into an economic powerhouse and a housing hub. Evidently, the authorities cannot sit back and wait for the market to turn around. But while officials are to be commended for their efforts to accelerate the development, there are still questions over the original plan. The multi-storey buildings for modern industries were meant to serve the dual policy objectives of promoting the development of industries and consolidating brownfield operations displaced by government projects. Under the previous requirement, part of the floor space was to be leased to the government at nominal rent for 10 years, during which it would be used to rehouse brownfield operators, such as warehouses for industrial use, storage, logistics or parking on rural land, at a concessionary rate. The tender periods were repeatedly extended after the two land parcels were first put on public tender in March and October last year respectively. It was revealed in June last year that the two sites attracted a total of 10 submissions in an exercise calling for expressions of interest, a response considered positive by the bureau. Officials also responded to market calls and adjusted tender terms, such as scrapping the required transfer of designated floor space.
South China Morning Post
3 hours ago
- South China Morning Post
Boeing workers threaten strikes at US fighter jet factories
Members of a union representing workers who assemble fighter jets in two Boeing factories rejected the US aircraft manufacturer's proposed new contract on Sunday, paving the way for possible strikes. 'IAM Union members delivered a clear message: the proposal from Boeing Defence fell short of addressing the priorities and sacrifices of the skilled … workforce,' the International Association of Machinists and Aerospace Workers said in a statement. More than 3,200 members of the union employed at Boeing facilities in the Midwestern states of Missouri and Illinois rejected the company's contract offer. According to the union, their contract expires at the end of the day on Sunday. The workers part of IAM branch 837 will go on strike if no deal is reached with the aerospace giant in the next seven days. The move could deal a serious blow to the company, after a seven-week long walkout by Seattle-based workers last year crippled two of Boeing's major assembly plants. 'We're disappointed our employees voted down the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities,' said Dan Gillian, vice-president of Boeing Air Dominance and general manager of the site in St Louis, Missouri.
