Tuesday , January 16 2018
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Hong Kong

Mansion International to raise up to $10m in Hong Kong IPO


HONG KONG: Mansion International Holdings on Thursday said it expects to raise up to HK$78 million ($10 million) from an initial public offering in Hong Kong’s growth enterprise market for smaller companies. The maker of clothing and accessories for infants and toddlers is offering 100 million shares in an indicative range of 62 Hong Kong cents to 78 Hong Kong ... Read More »

Hong Kong govt adviser resigns over illegal ivory


HONG KONG: A Hong Kong ivory trader fined this week for illegal possession of ivory resigned on Wednesday from a government advisory panel to protect endangered species, a potentially embarrassing blow for a city fighting to stamp out smuggling of ivory. Hong Kong has the largest retail market for ivory, which it has traded for more than 150 years. The ... Read More »

Hong Kong Customs steps up enforcement action at boundary control points


HONG KONG: Hong Kong Customs and Excise Department (C&ED) mounted an operation codenamed “Season” during the Christmas and New Year holidays at the airport, seaport, land boundary and railway control points in a bid to combat smuggling and other illegal activities through passenger and cargo channels. Starting on December 18, 2017 and concluding on January 7, 2018, Customs detected a total ... Read More »

Hong Kong crewman arrested after HK$19 m worth of cocaine washes up on shore


HONG KONG: Immigration authorities in Hong Kong are assisting a local crewman in custody in the Philippines and accused of smuggling about HK$19 million worth of cocaine into a country caught in the grip of a deadly drug war. Responding to an inquiry by the Post, the Immigration Department said it received a request for help from a family member of ... Read More »

Hong Kong stocks start the week higher as property companies surge

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HONG KONG: Hong Kong stocks began the morning session on Monday higher following broad gains in the US last week, while mainland markets slipped. The Hang Seng Index opened up 0.26 per cent, or 80.45 points, at 30,895.09 after notching up the best weekly gain since October with a ninth straight gain on Friday, while the Hang Seng China Enterprises ... Read More »

Hong Kong Customs seizes suspected pangolin scales

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HONG KONG: Hong Kong Customs today (January 5) seized about 1 800 kilograms of suspected pangolin scales from a container with an estimated market value of about $2.8 million at the Kwai Chung Customhouse Cargo Examination Compound. Through risk assessment, Customs officers inspected a 40-foot container declared to contain plastic materials arriving in Hong Kong from Nigeria. Upon inspection, Customs officers ... Read More »

Hong Kong Customs seizes suspected rhino horns


HONG KONG: Hong Kong Customs Thursday seized about 2.04 kg of suspected rhino horns with an estimated market value of about 400,000 Hong Kong dollars(about 51,168 U.S.dollars) at Hong Kong International Airport. Customs officers intercepted a 38-year-old male passenger at the airport who arrived from Maputo, Mozambique via Addis Ababa, Ethiopia this afternoon. During Customs clearance, the suspected rhino horn ... Read More »

Woman, 27, arrested by Hong Kong customs over HK$430,000 crystal meth haul


HONG KONG:A woman was on Wednesday arrested at a border checkpoint in Hong Kong on suspicion of smuggling more than HK$400,000 worth of crystal meth into the city. At around 4am, the suspected drug courier, 27, was intercepted by customs officers at Lok Ma Chau while returning from Shenzhen. Sources said she left for the mainland on Tuesday night. Two ... Read More »

Large number of fake Korean cosmetics seized at Hong Kong customs


HONG KONG: Alarge number of fake South Korean cosmetic products is circulating in Chinese-speaking countries. According to news outlets in Hong Kong, including Wenweipo, on January 2, Hong Kong Customs officers found 5,200 South Korean, Japanese and European knock-off cosmetics worth HK$670,000 (US$85,742 or 91.19 million won) for two days from December 20. The fakes were mostly South Korean make-up and skincare ... Read More »

South Korea seizes Hong Kong ship for oil transfer to North Korea

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HONG KONG: On Thursday, President Donald Trump accused China of “allowing oil to go into North Korea”. South Korea said on Friday that in late November it seized a Hong Kong-flagged ship, the Lighthouse Winmore, suspected of transferring oil to North Korea. The Lighthouse Winmore, a Hong Kong-flagged ship, is seen in waters off Yeosu, South Korea. In an interview with The New York Times, published Thursday, Trump claimed “oil is ... Read More »

Huawei flags slower smartphone and overall revenue growth


HONG KONG: China’s Huawei Technologies on Friday flagged overall and smartphone revenue figures for 2017 that represented its slowest growth in four years, and vowed to extend its global reach with more premium products next year. The telecom equipment and smartphone maker expects 2017 revenue to rise 15 per cent to 600 billion yuan ($92.08 billion), Chief Executive Ken Hu ... Read More »

Hong Kong Customs seizes suspected ketamine and suspected crack cocaine


HONG KONG: Hong Kong Customs yesterday (December 29) seized about 1 kilogram of suspected ketamine and 90 grams of suspected crack cocaine with an estimated market value of about $750,000 in Tsim Sha Tsui. During an anti-narcotics operation in Tsim Sha Tsui yesterday evening, Customs officers intercepted a man and found about 500 grams of suspected ketamine and 40 grams ... Read More »

Hong Kong vessel inspected by S. Korea after oil transfer


HONG KONG: A Hong Kong vessel has been inspected by South Korean authorities after secretly transferring oil to a North Korean vessel in international waters in a ship-to-ship transfer prohibited by the United Nations Security Council, government officials said Friday. South Korean customs authorities inspected the Hong Kong vessel, Lighthouse Winmore, when it entered the country’s Yeosu Port on Nov. ... Read More »

3 jailed in Hong Kong for providing illegal TV boxes to stream subscription


HONG KONG: Three men were jailed on Thursday for illegally broadcasting programmes from Now TV’s paid channels to their customers through streaming devices, with a judge handing down the heaviest penalty ever for internet piracy in Hong Kong. The trio, comprising a mastermind, Chung Yu-cheung, 40, his assistant, Ho Kwok-cheung, 54, and a stall owner, Lam Siu-wai, 54, were jailed ... Read More »

Hong Kong set to lose spot among top 5 container ports in 2018


HONG KONG: Hong Kong is poised to lose its ranking as the world’s fifth-busiest container port if cargo-handling trends continue. Sea freight processed in the city dropped for a second straight month in November, making Hong Kong the only container port among the world’s top five to report weaker traffic, based on statistics compiled by port authorities. South Korea’s Busan, ranked sixth, ... Read More »

HK Customs seizes suspected counterfeit hair straighteners, sports shoes


HONG KONG: Hong Kong Customs yesterday (December 23) seized a total of about 7 800 suspected counterfeit hair straighteners and 3 700 suspected counterfeit sports shoes, with an estimated market value of about $4.6 million, from a 40-foot container at the Customs Cargo Examination Compound, River Trade Terminal, Tuen Mun. Through risk assessment, Customs officers inspected a container arriving in Hong ... Read More »

Hong Kong seals first aircraft leasing deal under new tax regime

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HONG KONG: The first aircraft rental transaction to take advantage of new tax benefits designed to help Hong Kong-based aviatio ICBC Financial Leasing’s decision to use Hong Kong as a jurisdiction over more established centres like Ireland and Singapore is a boost to the city’s ambition to build itself into a global aviation leasing hub. It comes less than six ... Read More »

Hong Kong Customs seizes suspected smuggled accessories and smartphones


HONG KONG: Hong Kong Customs yesterday seized 611 pieces of suspected smuggled accessories and 1 128 suspected smuggled smartphones with an estimated market value of about $3 million at Lok Ma Chau Control Point. Customs officers intercepted an outgoing lorry at Lok Ma Chau Control Point for inspection yesterday afternoon and seized the batch of suspected smuggled accessories and suspected ... Read More »

Hong Kong Customs combats unfair trade practices at renovation company


HONG KONG: Hong Kong Customs today (December 20) arrested a male staff member of a renovation company suspected of having applied a false trade description to the service supplied, in contravention of the Trade Descriptions Ordinance (TDO). Customs earlier received information alleging that a male staff member of a renovation company in Kwun Tong made false claims to a customer that ... Read More »

Hong Kong Customs seizes suspected illicit cigarettes

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HONG KONG: Hong Kong Customs seized about 1.6 million suspected illicit cigarettes with an estimated market value of about $4.4 million and a duty potential of about $3.1 million at Lok Ma Chau Control Point on December 18.Customs officers intercepted an incoming truck declared as carrying a water tank at Lok Ma Chau Control Point on December 18. After inspection, Customs ... Read More »