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Slow building industry buoys MTRC costs 2.
Number of anomalies in storey countdown
1. Slow building industry buoys MTRC costs
A slowing construction sector has helped MTR Corp slash more than HK$3 billion
in costs to build the Tseung Kwan O railway extension. It said yesterday the latest
estimate of the 12.5-kilometre railway shrank further to less than HK$18 billion
from HK$21 billion forecast a year ago and from HK$30.5 billion in 1995. It also
said an earlier opening of the new route linking Tseung Kwan O, a developing new
town in eastern Kowloon, and Quarry Bay was on the cards. A spokesman said the
slowdown in the construction sector allowed more labour supply to build the railway
extension and hence a smoother work progress. "This significantly reduces extra
costs which could have incurred and will incur during changes of work schedule,"
she said. "As the construction approaches a final stage, we are studying the possibility
of starting train services in the third quarter of next year instead of the fourth
quarter. "We'll have a decision by February next year." She added that track-side
electrical and mechanical works, station building and civil engineering works
had been completed. JP Morgan analyst Edmond Lee was concerned about the returns
the extension might provide. "The cost reduction is good news," Mr Lee said. However,
he added that it was hard to predict the returns given the state of the economy
and the property market. [Source:
SCMP, 9 October 2001] 2.
Number of anomalies in storey countdown
Building site aficionados will be acutely aware that local developers attach large
numbers to the sides of new blocks indicating the progress of construction. The
effects of this are two-fold. Developers can keep tabs on a contractor's work
efficiency and local residents can calculate when they will be able to finally
remove their ear-plugs and hang their laundry out without fear of it becoming
coated in a concrete pebble-dash. Watchers of the new International Finance Centre
Two, opposite Jardine House in Central, are wondering whether builders are behind
schedule and are attempting to pull the wool over the eyes of the developers Henderson
Land Development and Sun Hung Kai Properties with a cunning deception. There are
three floors marked clearly, 10, 20 and 30. Floor 10 appears to be approximately
five floors up. There are seven floors between 10 and 20 (thus floor 20 is actually
12), and a further eight between 20 and 30 (thus floor 30 is actually 28 or 25
or 20, depending on where you start). Ironic that the SAR's top number-crunchers
the Hong Kong Monetary Authority has agreed to buy four floors in the 88-storey
office tower for HK$3.7 billion. Or is that 3.7 floors for HK$88 billion in the
four-storey block? Perhaps it was 88 floors for HK$4 billion Flight
response: Hong Kong residents will be pleased to hear that the Government is not
wasting tax-dollars in these times of tension. That great organ, the Government
Information Service, showed that it is worth every cent with this announcement
for those contemplating a trip to the scenic countryside around Jalalabad with
the Hong Kong Ornithological Society: "In view of the outbreak of war in Afghanistan
and the prevailing political situation in Pakistan, a Government spokesman called
on Hong Kong people not to travel to Afghanistan and Pakistan." And, should the
lone bird-watcher already in Jalalabad decide to while away the hours hidden in
a bush with a quick surf on the Internet, he may come across this sterling piece
of advice on the GIS Web site: "Those Hong Kong residents who are currently there
should leave as soon as possible." Fair enough. [Source:
SCMP, 9 October 2001] | 
