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Garment exporter fined for furnishing false statement
A garment exporter cum manufacturer, Hermes Textile Industry (HK) Limited today (Thursday) pleaded guilty to five counts of furnishing false statement in export licence applications and one count of importing textile products not under and in accordance with a valid import licence at the Tsuen Wan Magistracy.
It was fined a total of $365,000 by the magistrate, Mr H M Sinclair.
The court heard that officers of the Customs and Excise Department conducted an investigation and found that the defendant had exported 15,517 pieces China-origin cotton woven shorts/trousers/anoraks to Denmark but falsely declared on five export licence applications that the goods were made by its factory in Hong Kong.
Investigation also revealed that the defendant had imported from China 18,242 pieces of garments without a valid import licence.
End
Hong Kong Monetary Authority money market operations
Cumulative
Time
change
Smillion
(hours)
($million)
Opening balance in the account
2,451
0930
+448
Closing balance in the account
2,309
1000
+448
Change attributable to:
1100
+448
Money market activity
+448
1200
+448
LAF today
- 590
1500
+448
1600
+448
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