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South China Morning Post
01-05-2025
- Health
- South China Morning Post
Popular Hong Kong clinic chain in hot water amid suspected closure
Many customers outraged after prepaying thousands for their children's vaccinations at clinics under Alliance Medical Group Hundreds of customers, including young parents, have taken to online platforms to complain about a popular clinic chain in Hong Kong suspected to have abruptly closed down earlier this week. Parents who had paid thousands of Hong Kong dollars in advance for their children's vaccination at clinics under Alliance Medical Group scrambled to arrange jabs elsewhere, while the consumer watchdog on Thursday expressed 'deep concern' and urged the chain to clarify its operational status. The group, which had two clinics in Tsim Sha Tsui and Sha Tin, had not officially announced its closure, but its accounts on Facebook and Instagram were no longer available as of Thursday. A WhatsApp screenshot image circulating online showed that a part-time worker was informed by the clinic group that it would cease operations from May 1. Phone calls to the group on Thursday were transferred to a voice message, which said it was closed on Sundays and public holidays. Thursday marked the Labour Day public holiday in Hong Kong. The Post also visited its Tsim Sha Tsui outlet, which was closed, but furniture and other items remained. The clinic chain appeared to have targeted parents by setting up WhatsApp groups for childcare inquiries for its customers, and publishing articles related to children's health on its website. Newsletter Every Saturday Hong Kong Update By submitting, you consent to receiving marketing emails from SCMP. If you don't want these, tick here {{message}} Thanks for signing up for our newsletter! Please check your email to confirm your subscription. Follow us on Facebook to get our latest news. Mrs Sin, a mother to a six-month-old baby girl, was among hundreds of people who formed a victims group. She first learned on Wednesday from a friend that the clinic chain might have closed down, as the firm's social media pages were inaccessible. She also said the chain also did not respond to customers' inquiries in the official WhatsApp group about rumours of its closing down. 'It was really outrageous of them,' said the mother, who only offered her surname. 'I just want my money back, or please arrange vaccinations for us.' The consumer watchdog has expressed 'deep concern' over the suspected closure and says it is monitoring the incident. Photo: Nora Tam She paid HK$5,400 (US$696) on Tuesday in advance for a package of meningococcal vaccines for her daughter, who was scheduled to have an appointment for the jab on Friday. In October, she also spent more than HK$4,000 on a plan of six doses of vaccines for young children, and there was still one dose, scheduled for when her child turns 18 months old, left unused. Sin said the group's large booth at a baby products fair in August last year caught her eye, and she decided to get her daughter's vaccination there due to cheaper jabs and the proximity of the Tsim Sha Tsui clinic to her Yau Ma Tei home. The mother said she had already lodged reports on Wednesday to the Customs and Excise Department, police and the Consumer Council. She also asked the bank to hold her credit card transaction made with the clinic on Tuesday. Gordon Cheung, whose daughter is now four months old, also spent around HK$4,000 with the group in February on a children's vaccination scheme, in which just two of the seven doses of vaccine had been used. His daughter was originally scheduled to receive her vaccination on Saturday. 'I'm not optimistic about the money. As a parent, I have to first handle where my daughter can get her vaccine,' he said. As of Thursday evening, there were more than 650 members in a victims' group formed on Facebook, and close to 400 in a similar group on WhatsApp. Similar complaint posts could be found on the Chinese social media platform RedNote, also known as Xiaohongshu. Cheung said there were already several victims' groups formed on social media. A part-time staff member at the clinic, who spoke anonymously, said she had not received her salary for April yet. She said she and other workers planned to visit the Labour Department next week to follow up on the matter. The consumer watchdog, which had expressed 'deep concern' over the suspected closure, said it was closely monitoring the incident. It urged the clinic group to clarify as soon as possible whether it was closing down its business and propose follow-up arrangements to alleviate customer concerns. The Labour Department said employees who had unpaid wages or queries on their rights could approach its offices for help. The Post has contacted police for comment.
South China Morning Post
30-04-2025
- Business
- South China Morning Post
HKEX reports best quarter after China's ‘DeepSeek moment' spurred market's rerating, IPOs
Hong Kong Exchanges and Clearing (HKEX), operator of Asia's third-largest stock market, said its first-quarter profit reached a record high, thanks to more new listings and increased turnover. Advertisement On Wednesday, HKEX said its first-quarter net profit rose 37 per cent to HK$4.08 billion (US$526 million), or HK$3.23 per share, from HK$2.97 billion a year earlier. Analysts, according to a consensus estimate compiled by Bloomberg, expected the company to report a profit of HK$3.99 billion. In the first quarter of 2021, HKEX reported a then-record profit of HK$3.84 billion. 'The renewed global interest in China opportunities that picked up in the second half of 2024 continued to build momentum into 2025, boosted by exciting developments in artificial intelligence and innovation,' said CEO Bonnie Chan Yiting in a statement. 'The vibrancy of Hong Kong's capital raising activity during the quarter continued to underscore the attractiveness of our markets, which ranked in the world's top five IPO venues and recorded two of the largest follow-on offerings since April 2021.' Bonnie Chan Yiting, CEO of HKEX. Photo: Nora Tam She also noted the growth momentum continued in the second quarter with a healthy pipeline of 120 listing applications, strengthening Hong Kong's position as a leading global fundraising venue
Yahoo
15-03-2025
- Business
- Yahoo
China Vanke's Le Mont project in Tai Po selling briskly despite mortgage concerns
China Vanke has sold around a quarter of the more than 200 units on offer at its Le Mont project on the first day of sales, despite earlier reports indicating that some Hong Kong banks were refusing to extend mortgages to prospective buyers. By 1pm on Saturday, 58 of the 228 available flats at the new Tai Po residential project developed by Vanke Hong Kong, a unit of China Vanke, had been sold, said Sammy Po Siu-ming, CEO of Midland Realty's residential division. He expected the flats to be sold out by the end of the day. The flats - ranging from 214 sq ft to 873 sq ft - include 28 studios, 67 one-bedroom units, 93 two-bedroom units, 24 three-bedroom units, nine four-bedroom units and seven special units. They are part of a six-tower residential complex, projected to be completed by July 2026. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Prices for the units range from HK$2.38 million to HK$11.41 million (US$306,000 to US$1.47 million), while the price per square foot is between HK$9,185 and HK$14,392. That is over 30 per cent lower than prices of comparable properties in the neighbourhood two years ago, according to property agents. The Le Mont project is located in Tai Po. Photo: Handout alt=The Le Mont project is located in Tai Po. Photo: Handout> Le Mont closed its ballot registration at 8pm on Thursday, attracting a total of 7,418 applications - an oversubscription of more than 31 times. China Vanke, once the largest real estate developer on the mainland but now battling a liquidity crisis, faced renewed challenges after several banks in Hong Kong rejected mortgage applications from potential buyers of the project. Standard Chartered and Chong Hing Bank were not accepting applications for the project, agents said earlier this week. The banks were assessing the risk of a Vanke default and its capacity to complete the project, according to a lawyer. As of Friday, Hang Seng Bank, HSBC and Bank of East Asia confirmed they would provide mortgage financing for buyers, joining OCBC Hong Kong and Bank of Communications, according to a Vanke spokesman. Bank of China (Hong Kong) and ICBC (Asia) also indicated they would extend mortgages for the project. Some banks in Hong Kong have rejected mortgage applications for the Le Mont project. Photo: Nora Tam alt=Some banks in Hong Kong have rejected mortgage applications for the Le Mont project. Photo: Nora Tam> China Vanke is grappling with nearly US$5 billion in debt maturities this year and is expected to report a record net loss of 45 billion yuan (US$6.2 billion) for 2024. Once regarded as a financially stable developer with state backing, Vanke's struggles underscore the ongoing impact of China's prolonged property downturn. Fitch Ratings in January downgraded China Vanke's long-term foreign and local-currency issuer default ratings from B+ to B-, citing the developer's deteriorating cash flow and sales outlook. While Hong Kong's property market is enduring a third year of downturn, interest has been recovering in recent weeks following the Hong Kong government's reduction of stamp duty on small flats and a recent stock rally that has boosted potential buyers' confidence. Around 1,330 new home sales have been recorded so far this month, compared to 758 in January and 901 in February. The number of transactions is expected to exceed 3,000 by the end of the month, according to Louis Chan Wing-kit, CEO of Centaline Property Agency. Chan noted that the market was rebounding, helped by the competitive pricing of newly launched projects. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved. Sign in to access your portfolio
South China Morning Post
13-03-2025
- Business
- South China Morning Post
Hong Kong Sevens ticket sales near 40,000, largest crowd ever expected at Kai Tak Stadium
Rugby bosses expect this month's Cathay/HSBC Hong Kong Sevens to have the largest crowd in the tournament's history, with ticket sales for Kai Tak Stadium reaching record levels. Advertisement According to organisers, they have sold nearly 38,500 three-day passes for the sevens, which will be played at the city's new 50,000-seat venue for the first time. Total capacity for the stadium will be around 47,000, and Hong Kong China Rugby said all its corporate hospitality suites sold out months ago, while 99 per cent of the 138 temporary corporate boxes had also been snapped up. 'Hong Kong China Rugby is delighted to celebrate another milestone in the prestigious history of the Hong Kong Sevens,' Bryan Rennie, HKCR's executive director of commercial and business operations, said. 'Revenues from the tournament are put right back into the sport and the Hong Kong community, and we are grateful for the support of our fans from around the world. 'It is a great honour for the Sevens to be the first international sporting event to be held in the new Kai Tak Stadium, and we are excited to be bringing a show and a crowd worthy of this once-in-a-lifetime moment.' Fans watch the opening ceremony at Kai Tak Sports Park on March 1. Photo: Nora Tam In a statement announcing the numbers of tickets sold, organisers said they were 'preparing the world's biggest rugby party for Asia's premier sporting weekend'.
South China Morning Post
04-03-2025
- General
- South China Morning Post
‘Really unique' former Hong Kong village school should be spared demolition, pair say
A former village school that is a testament to pre-metropolitan Hong Kong is about to be demolished, but architecture scholars and heritage conservation enthusiasts are unwilling to let it go without a fight. Advertisement Built in 1952 in Cha Kwo Ling, between Lam Tin and Yau Tong in East Kowloon, the Sze Shan Public School building – with its curved structures and long horizontal lines – is one of Hong Kong's few examples of buildings in the Streamline Moderne architectural style, inspired by automation and aerodynamics. However, it has not been graded a historic building. The former school features light green terrazzo similar to that in the Central Market and the Old Wanchai Market Building on Hong Kong Island, both of which are classified as grade three historic buildings and have been revitalised for public and commercial use. The former Sze Shan Public School is facing demolition despite being built in the same year as the State Theatre in North Point, a grade one historic building. The former Sze Shan Public School in Cha Kwo Ling, East Kowloon. The two-storey village school is slated for demolition to make way for public housing. Photo: Nora Tam 'It's a pity that this has somehow been overlooked,' says Dr Prudence Lau Leung-kwok, a professor specialising in cultural heritage and Hong Kong architectural history.
