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1. Venus Last dazzled like this in 1882

2. SETW: Bridge shows Gov't's commitment to invest in our future

3. KCRC wants to fast-track flats

4. West Kowloon arts hub 'worth $36b'

1. Venus Last dazzled like this in 1882
The Independent in London, SCMP 11 May 2004

Millions of people around the world will watch a once-in-a-lifetime event next month when the planet Venus, the Earth's closest neighbour, crosses the Sun's path.

Scientists have calculated that at 1.20pm on June 8, Venus will appear as a tiny speck at one side of the Sun and will slowly transverse the fiery ball for the next six hours.

A transit occurs when Venus and Earth, whose paths round the Sun tilt at slightly different angles, line up where their orbits cross.

No living person has seen a transit of Venus as the last occurred on December 6, 1882, during the reign of Queen Victoria.

Only transits of Mercury and Venus are possible from Earth. On average there are 13 passages of Mercury each century. In contrast, transits of Venus occur in pairs, with more than a century separating each pair.

The transit will be visible around the world. In Hong Kong, however, only the beginning of the transit will be visible, with the Sun setting before the event ends.

The rare spectacle should only be watched through special glasses or by using telescopes to cast images of the sun onto paper.

2. SETW: Bridge shows Gov't's commitment to invest in our future
Hong Kong Government, 11 May 2004

Following is a speech by the Secretary for the Environment, Transport and Works, Dr Sarah Liao, at the contract signing ceremony of the Stonecutters Bridge this afternoon (May 11):

Hong Kong is one of the busiest cities in the world. With limited space, difficult terrain and dense building developments, construction of the highway infrastructures is always a challenge in Hong Kong.

Despite all the constraints, Hong Kong has a very comprehensive road network with a total road length of about 2,000 km and a number of remarkable transport infrastructures. Among those, the Tsing Ma Bridge is the longest suspension bridge in the world carrying both road and rail traffic.

I am pleased to announce that we are going to add another significant landmark to Hong Kong. The Stonecutters Bridge, upon completion in June, 2008, will be the longest cable-stayed bridge in the world. This is more than an engineering feat which our engineers will no doubt take pride. This is a defining piece of architecture for Hong Kong and a reflection of the confidence of this world city to rise up to the challenges of the new millennium.

The bridge catches international attention not only because of its length. The design of the bridge was adopted from the winning design of an international design competition held in 2000, which elicited participation from the best design and engineering firms the world has to offer. Today, I am happy to award the contract to the Maeda-Hitachi-Yokogawa-Hsin Chong Joint Venture, the international consortium which will be given the task, and of course, the honour to inscribe this project of great beauty into texture of our landscape.

The Stonecutters Bridge is an important part of Route 8 between Tsing Yi and Sha Tin. We will be adding an east-west strategic route linking the eastern part of the New Territories to the Airport upon completion of this section of Route 8. This new highway will provide direct access to Container Terminals No. 8 and No. 9 in Kwai Chung, which will further enhance Hong Kong as an important international logistics and transportation hub.

The Bridge is a $2.76 billion investment, creating 1,400 job opportunities. It is yet another clear demonstration of the government's commitment to invest in our future while at the same time creates employment. Surveys after surveys amongst local residents and overseas visitors have given a unanimous thumbs-up to the transport infrastructure of Hong Kong. With the completion of the Stonecutters Bridge and Route 8 in the years ahead, Hong Kong's role as an international world class city will be strengthened even further.

3. KCRC wants to fast-track flats
Danny Chung and Eli Lau, The Standard 11 May 2004

The Kowloon-Canton Railway Corp plans to speed up property development along the West Rail in a bid to boost passengers on the unprofitable line.

KCRC had originally planned to give priority to developing properties at Tai Wai station on the Ma On Shan line, with about 1,000 units to be completed by 2008-09.

Some 3,000 units were to be built later at Tsuen Wan and Yuen Long stations on the West Rail.

However, it would abide by an agreement with the government not to sell any units before 2008-09.

KCRC chairman Michael Tien said yesterday that projects along the West Rail would now take precedence to boost passenger traffic, which has been worse than expected.

``It is more reasonable to develop property projects along West Rail first,'' Tien told ATV.

KCRC last week slashed its profit forecast for this year from HK$900 million to HK$300 million, dragged by the unprofitable West Rail. The line lost HK$5 million a day in its first two weeks after opening in mid-December, which Tien blamed on the border-crossing coaches. KCRC's net profit was HK$1.38 billion last year.

Under its original schedule for property development, KCRC was to sell 4,000 units at Tai Wai station before those along the West Rail. The first batch of 1,000 units was scheduled to be completed by 2008.

In October last year, the KCRC agreed with the government to hold back development until 2008 or 2009 to stabilise the property market.

HSBC Securities analyst Derek Cheung said it was too early to tell whether the launch of residential projects along West Rail will have substantial influence on future home supply. ``But the decision will definitely trigger unfavourable effects for the property market, which is still quite fragile,'' he said.

Yesterday, Tien said the KCRC was assessing its property projects for the Light Rail, West Rail and Ma On Shan Link. He said stations furthest from urban areas such as Tsuen Wan, which have the least number of passengers, will have projects developed first. Some 16,000 flats are planned for six stations on the West Rail.

4. West Kowloon arts hub 'worth $36b'
CHLOE LAI, SCMP 11 May 2004

Once it is built, the West Kowloon cultural district will have a market value of $36.4 billion, according to the first study of the project's financial prospects.

The study, conducted by the University of Hong Kong for the Arts Development Council, estimated the 40-hectare waterfront site itself was worth $24.6 billion. Offices, shopping centres and apartment buildings would have a commercial value of $11.8 billion. The project should be financially viable, it concluded.

While cultural facilities, such as museums and theatres, would cost $13.2 billion to build, they were not given a commercial value in the study because they are expected to lose money.
This is the first public estimate of the commercial value of the project. The government has never released any financial data on the planned cultural district.

Darwin Chen Tat-man, chairman of the Arts Development Council, said the figures were important in enabling the public to judge the merits of developers' proposals for the project.

"Now we have something to rely on when looking into those proposals in detail," he said.

Wong Kwok-chung, an associate professor of real estate and construction at the University of Hong Kong, said the estimates were based on a set of assumptions including a very low density level of building construction.

"If the development density goes up, the land will be [more valuable]," he said. The study was conducted by Dr Wong and architect Desmond Hui Cheuk-kuen.

In assessing incomes from commercial properties, the study concluded apartments at the prime sites would be worth $7,000 per sq ft, and monthly rent in shopping centres there would average $35 per sq ft.

Dr Wong said the project should be financially feasible.

He said a quasi-commercial principle should be adopted in managing the area's theatres and other cultural facilities, but with strict government guidelines on ticket pricing.

"Otherwise, the tickets will be too expensive for the public," he said. The cultural facilities could yield $9 million a year in profit, he said.

Lord Foster's design for a mega canopy, light-rail line and harbourfront promenade would cost $5.6 billion to build. The canopy alone, which is planned to cover 55 per cent of the site, would cost $10,000 per square metre, the experts said.

A single consortium will be responsible for the planning, development and management of the area for 30 years. But small developers fear they will be excluded from competing on the project. Lawmakers and non-governmental organisations have attacked authorities for ceding the last large piece of harbourfront land to property developers.