Friday, October 9, 2015   

Mega Events Fund management slammed
(05-12 13:53)

There was renewed criticism of the oversight and management of the HK$250 million Mega Events Fund at a public hearing of the Legislative Council's Public Accounts Committee on Monday.
An Audit Report had earlier revealed potential conflicts of interest and irregularities in its accounts and records.
Civic Party legislator, Alan Leong Kah-kit, questioned why the Council had not been informed of a recommendation by the Independent Commission Against Corruption that the Fund should not continue beyond 2012 as it had fulfilled its 'historical mission'.
The Permanent Secretary for Commerce and Economic Development, Andrew Wong Ho-yuen, said the Fund -- which was set up in 2009 -- aimed to attract overseas visitors back to Hong Kong and to provide short-term employment for a period of three years.
He said it was decided to continue with the Fund so that Hong Kong could compete for tourists with regional neighbors.
Wong said the Fund would aim to rectify the current situation. --RTHK   
Other Hong Kong breaking news:
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Package from India reveals 23 turtles (10-08 20:17)
JP Morgan names new head of emerging markets equity team (10-08 17:30)
Two HK billionaires in Asia’s top 10 wealthiest list (10-08 14:59)
Wan Chai domestic helper job agency loses license (10-08 14:24)
Avenue of Stars closed for rebuilding (10-08 13:17)
Private home prices, rents hit record high (10-08 13:14)
Jakarta seizes HK-bound shipment of 3,000 shark fins from endangered species (10-07 19:16)
St Jerome’s kindergarten dispenser water exceeds WHO lead limits (10-07 18:18)

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