More than HK$11 million in refunds was confirmed for Wang Fuk Court owners as the appointed administrator, Hop On Management, updated the estate's finances in a special meeting on Wednesday night.
The meeting proceeded with the required 10 percent quorum at Tai Po Community Centre, with simultaneous broadcasts at three other venues in Kai Tak, Tin Shui Wai, and Aberdeen.
Following the update on operating funds, Hop On confirmed refunds of over HK$11 million, with each household receiving HK$5,400 to HK$6,300.
Owners can apply online starting next Wednesday and collect refunds at designated Home Affairs Enquiry Centres later this month, or authorize collection by social workers and district councilors.
Sources said the Owners’ Corporation's bank balance stands at over HK$39 million, which combined with HK$8 million from the Urban Renewal Authority's drainage repair subsidy, brings the total cash reserves to over HK$47 million.
After deducting around HK$20 million in maintenance funds, HK$1 million in service payments, HK$2.6 million in management deposits, and HK$11 million in contract termination reserves, Hop On confirmed an HK$11.6 million refund to owners.
As for the estate’s service contracts, it is understood that 15 have been terminated, two retained, and four are still being processed, while insurance and the old website contracts will be kept.
Notably, a new quarterly lift maintenance contract for Wang Chi House effective from March 16 will be paid for by a donation from the Nina Wang Charity Management Limited.
Pending contracts reportedly include a rooftop solar panel contractor who hasn't claimed a specific amount despite repeated attempts to reach them, and a gas contract that needs funds set aside.
For services rendered before last November’s deadly fire that remain unpaid, Hop On said it will verify and settle the amounts.
Regarding the auditor's report rejected at the previous meeting, Hop On said it has been following up with Albert Y K Lau & Co.
It is reported that the estate’s financial report due this year remains in draft form, with the firm citing staff shortages after an auditor resigned on August 7.
Addressing residents' concerns about retrieving personal belongings, Hop On said owners can apply through government channels to return to their units but stressed that arrangements depend on building safety and move-in timetables.
Regarding the estate’s inspection report, the administrator confirmed residents' requests were forwarded to the government, which cited the need for monitoring during the typhoon and rainy season.
Following the meeting, one owner described it as limited in what it could achieve, noting that some owners had decided to skip it after accepting the government's acquisition offer.
She said the meeting was a chance to catch up with neighbors, but admitted facing uncertainty ahead as she has yet to accept the offer, adding that she can only "take one step at a time.”
