A vehicle distributor was fined $660,000 today (August 8) at Kowloon City Magistrates' Courts for contravening the Motor Vehicles (First Registration Tax) Ordinance when selling motor vehicles.

     The vehicle distributor sold 15 private cars at a price higher than the Published Retail Price (PRP) approved by Hong Kong Customs and/or contravening the publication requirement of the retail price from September 2016 to August 2017. The total amount in excess was $650,000.

     The Ordinance stipulates that all registered vehicle distributors shall, before offering a motor vehicle for sale for use in Hong Kong, deliver a PRP to Hong Kong Customs for assessment, which will form the basis for calculating the First Registration Tax. Vehicle distributors shall, upon receipt of the approved PRP, publish in writing the relevant price.

     Under the Ordinance, any person who, without obtaining prior consent of Hong Kong Customs, sells a motor vehicle at a price higher than the approved PRP commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for 12 months.

     Customs appeals to consumers to ask the distributor for a PRP list for reference when considering to buy a vehicle.

     Members of the public may report any suspected violations of the Ordinance to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

     Regarding an online post claiming that some Mainlanders have secretly joined the Hong Kong Police Force for reinforcement, a spokesman for Police stressed today (August 8) that the allegation was absolutely unfounded and was a complete fabrication.
 
     The spokesman stressed that this is just another wild rumour to confuse the public and generate conflicts in the society. Hong Kong Police officers are Hong Kong permanent residents under the command of the Commissioner of Police.

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by The Hongkong and Shanghai Banking Corporation Limited on phishing email, which has been reported to the HKMA. Hyperlink to the press release is available on the HKMA website for ease of reference by members of the public.
      
     Anyone who has provided his or her personal information to the email concerned or has conducted any financial transactions through the email should contact the bank concerned using the contact information provided in the press release, and report to the Police or contact the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force at 2860 5012.

     The Lands Department (LandsD) announced today (August 8) that a site, New Kowloon Inland Lot No. 6546 at Kai Tak Area 4C Site 4, Kai Tak, Kowloon, in the 2019-20 Land Sale Programme will be disposed of by public tender. The tender invitation for the lot will commence on August 9 and close on September 20.

     New Kowloon Inland Lot No. 6546 has a site area of about 10 692 square metres and is designated for non-industrial (excluding residential, godown and petrol filling station but including hotel) purposes. The minimum gross floor area and the maximum gross floor area are 48 114 sq m and 80 190 sq m respectively.

     Land sale documents including the Form of Tender, the Tender Notice, the Conditions of Sale and the sale plan of the lot will be available for downloading from the LandsD website (www.landsd.gov.hk), and the sale plan will be available for distribution and inspection by the public from August 9, when the particulars of the tender will also be gazetted.

     The Lands Department (LandsD) announced today (August 8) the following revised requirements for paying the initial deposit and balance of the tendered sum for government land sale by public tender:
 
(1) The initial deposit payable by each tenderer upon its submission of tender for the relevant site will be increased from the previous maximum amount of $25 million to a maximum amount of $50 million. This maximum amount will apply to all land sale sites with a ballpark land value of $400 million or above as estimated by the LandsD. For land sale sites with estimated values of less than $400 million, the amount of initial deposit payable will be determined with reference to the following schedule:
 

 
(2) The successful tenderer is required to pay a part payment equal to 10 per cent of its tendered sum less the initial deposit already paid, rounded up to the nearest $100,000, within seven working days of the date of tender award issued by the LandsD.
 
     The revised requirements will start to apply to land sale sites for which tenders are invited on or after August 8, 2019.
 
     The existing arrangement of requiring the successful tenderer to pay the balance of the land premium within 28 days from the date of tender award will remain unchanged. Following current practice, the deposits paid by the unsuccessful tenderers will be returned shortly after the tender award is made.
 
     A spokesperson for the LandsD said that the two new measures taken together will increase the cost of default by the successful tenderer, hence strengthening the deterrent effect and better protecting the Government's interest in the event of such a default. 
 
     In a recent land sale of a government site, namely New Kowloon Inland Lot (NKIL) No. 6546 at Kai Tak Area 4C Site 4, Kowloon, the successful tenderer failed to settle the balance of the premium within the 28-day period after the award of the tender. As a result, the LandsD cancelled the land sale on June 13, 2019, and forfeited the deposit paid by the successful tenderer. The LandsD has since then reviewed the relevant payment arrangements.