The Housing Authority (HA) announced today (18 October) the setting up of a Supervisory Group on Divestment to help advise, guide and monitor the implementation of the plan to divest the HA's retail and car-parking facilities.

The Supervisory Group will be chaired by Mr Walter Chan Kar-lok, who also heads the HA's Commercial Properties Committee. Other members of the Supervisory Group are Ms Siu Yuen-sheung, Mr Ho Sai-chu, Mr Cheng Yan-kee, Hon. Chan Kam-lam, Hon. Sin Chung-kai, Mr Eddie Ng Hak-kim and Mr Raymond Lai Wing-chueng.

According to divestment plan earlier approved, the HA will sell the retail and car-parking facilities to a new company which will make an initial public offering (IPO) on the Stock Exchange of Hong Kong tentatively in 2004/05.

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