Drop in English standard hurts Hong Kong business
Article Abstract:
Many Hong Kong businesses are feeling the adverse effects of the declining standard of English proficiency in the colony. Most employees only have rudimentary knowledge of the English language, confined mostly to simple phrases such as 'yes,''no' and 'I don't know.' To alleviate the language problem, many companies are resorting to hiring their own English teachers to improve the proficiency of their employees. Meanwhile, the Hong Kong government intends to establish a $38.8 million language fund to improve the English proficiency of teachers and offer additional language-learning opportunities to students.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Dispute illustrates push by foreign shareholders for voice in management of Hong Kong firms
Article Abstract:
Many minority shareholders in Hong Kong firms are becoming more assertive in terms of managing their companies' assets. An example is the current dispute between Pioneer Industries International Holdings Ltd. and its European minority shareholders over the divestment of the company's interest in Bangkok Bank PLC. The shareholders have insisted that the divestment will maximize the value of Pioneer Industries' assets. Analysts noted that such disputes will become more frequent as foreign investments in Hong Kong firms continue to increase.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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High rents, slowing economy shut some retailers' doors in Hong Kong
Article Abstract:
Skyrocketing rental rates and lower consumer spending are worrying several large Hong Kong retailers. Watch retailing giant City Chain Co. and Cafe de Coral, the leading fast-food chain in the Crown Colony, have bared plans to downsize their operations. Retail rents have soared by as much as 40% the past two years, while sales have barely inched up. The decline in consumer spending is attributed to lower property and stock prices, spiralling interest rates and a downturn in tourist arrivals.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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