15
AUGUSTINE S. K. CHUNG
ROOM 1115, HANG LUNG CENTRE, 11th FLOOR, PATERSON STREET,
HONG KONG. TEL: 5-771862-3
6.
far better capital increase value than bank deposit.
Besides this, we must not forget that these owners
have all the right and liberty to choose whatever
form of investment they have considered fit.
It has also been asked why so many owners have accepted
offers made by the Authorities concerned and have accepted the offer of Allways Garden if such offers were unfair and unreasonable as claimed by some of the
Sai Lau Kok owners. The reply is not difficult.
The
bigger flats in Sai Lau Kok were about 460 sq.ft. in
net area on the average and the assessed value as at
reversion date was about $195,200 which, together with
the capitalized interest allowance of about $46,000,
was definitely sufficient to pay for the purchase price (about $205,085) of the smaller flats about 469 sq.ft. in net area or even the bigger flats (about 550 sq.ft.)
which was priced about $243,425) in Allways Garden.
For those owners, they might feel that they have suffered
little or no loss. At least they did not have to pay money out of their pockets. Therefore, there was less
difficulty in persuading them to accept such offers.
For the ownas of smaller flats in Sai Lau Kok, the
situation is different in that they have to pay money
out of their own pockets in any event for the purchase
of flats in Allways Garden as shown in paragraph 4(b)(ii)
above. If they could afford to do so, there might be less
difficulty in the negotiation.
Therefore, there were a number of reasons, serious and
trivial, which formed the stumbling blocks to successful negotiations with the present dissident minority in Sai Lau Kok. Minority they may be, they are nevertheless entitled to
fair treatment and justice.
It seems to me that for the above disquieting situation, we can only put the blames on the short-sightedness of the
to be Cont'd/P.16
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