Buying back the shares of The Link

Dr Hon LEUNG Ka-lau: (Translation)

That, The Link Real Estate Investment Trust ("The Link"), being the largest landlord of retail shops in Hong Kong, has a total of 11 000 tenants providing services of daily necessities to three million residents in public housing estates, yet since its listing, The Link has deviated from its original principle and philosophy and increased rents every year, causing great burden to the lower class and small shop tenants, and despite the increase in shop rentals by almost 30% in 2007 and the recent economic downturn in Hong Kong, The Link still increases rents against the market trend, thereby reducing room for survival of the grassroots and causing social discontent; hence this Council urges the Government to balance the community interests at large in handling the issue of rental of public housing shopping arcades, and consider various possible means to buy back sufficient shares of The Link to become the major shareholder, so as to influence the management of The Link Management Limited to take into consideration its corporate social responsibility.