Appointments to Board of Urban Renewal Fund

     The Development Bureau today (August 14) announced the reappointment/appointment of 12 persons as Chairman/directors of the Board of the Urban Renewal Fund (URF Board). The URF is an independent company limited by guarantee incorporated to manage the Urban Renewal Trust Fund.

     In accordance with the Articles of Association of the URF, the Secretary for Development has nominated Professor Steven Ngai Sek-yum for reappointment as Chairman of the URF Board for one year till August 14, 2024. At the same time, the Secretary for Development nominated Ms Fanny Ang Bing-hun, Ms Mary Grace Chiu Hang-mei, Mr Sunny Ho Lap-kee, Ms Janice Lai Wai-man, Mr Dominic Lam Kwong-ki, Mr David Lui Yin-tat and Mr Timothy Ma Kam-wah for reappointment as directors of the URF Board; and nominated Ms Kitty Chau Shuk-king, Mr Steven Pun Chi-ho, Ms Renee So Yi-ha and Mr Wong Wai-kit for appointment as directors of the URF Board. The term is three years from August 15, 2023. The above nominees have all been appointed in accordance with the Articles of Association of the URF. 

     "Over the past six years under the leadership of Professor Steven Ngai, the URF has not only been commissioning social service teams to provide support to the owners and tenants affected by the redevelopment projects of the Urban Renewal Authority (URA), but also implementing the Urban Renewal Heritage Preservation and District Revitalisation Funding Scheme to improve residents' living quality and foster their sense of belonging to community. Due to personnel change of the Secretariat of the URF in early 2024, I am grateful that Professor Ngai, who has already led the URF Board for six years, has agreed to continue to take up the Chairmanship of the Board till August 2024 to lead the new term of the Board to continue to make the best use of the Trust Fund in furthering its objectives," the Secretary for Development, Ms Bernadette Linn, said.

     Ms Linn also thanked the six outgoing directors who have served on the URF Board for six years, namely Professor Ching May-bo, Professor Rebecca Chiu Lai-har, Mr Ivan Fu Chin-shing, Mr Dennis Ho Chiu-ping, Mr Yeung Ming-tai and Mr Ricky Yu Wai-yip, for their contributions to the work of the URF.

     The membership of the URF Board with effect from August 15, 2023, is as follows:

Chairman
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Professor Steven Ngai Sek-yum

Directors
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Ms Fanny Ang Bing-hun
Ms Kitty Chau Shuk-king
Ms Mary Grace Chiu Hang-mei
Mr Sunny Ho Lap-kee 
Ms Janice Lai Wai-man
Mr Dominic Lam Kwong-ki
Mr David Lui Yin-tat
Mr Timothy Ma Kam-wah
Mr Steven Pun Chi-ho
Ms Renee So Yi-ha
Mr Wai Chi-sing
Mr Wong Wai-kit

Secretary
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Mr Joseph Wong Kam-man

     The URF, incorporated as a company limited by guarantee on August 15, 2011, was set up pursuant to section 6(2)(s) of the Urban Renewal Authority Ordinance to act as the trustee and settlor of the Trust Fund. The Trust Fund, with funding support from the URA, provides an independent funding source to support the operation of the social service teams that render assistance to the affected owners and tenants of the urban redevelopment projects implemented by the URA. The Trust Fund also supports planning and related studies by the District Urban Renewal Forum as well as initiatives related to heritage preservation and district revitalisation proposed by non-governmental organisations and other stakeholders in the overall context of urban renewal. Pursuant to the Articles of Association of the URF, the directors of the URF Board shall be nominated by the Secretary for Development and appointed by the URF. The establishment of the Trust Fund was one of the major initiatives under the Urban Renewal Strategy promulgated by the Government in February 2011.