Government launches retail infrastructure bond
The Government announced today (November 15) the launch of a retail infrastructure bond for subscription by Hong Kong residents.
The target issuance size of the retail infrastructure bond is HK$20 billion, with each lot offered at HK$10,000 and a tenor of three years. Interest will be paid semi-annually at a rate linked to inflation in Hong Kong, subject to a minimum of 3.5 per cent.
This issuance is the retail part of the Infrastructure Bond Programme. Proceeds will be credited to the Capital Works Reserve Fund for investment in infrastructure projects in accordance with the Programme framework. The Government will publish information on the allocation of the proceeds on an annual basis.
The subscription period of the retail infrastructure bond will start from 9am on November 26 and end at 2pm on December 6. Hong Kong residents may make applications through a placing bank, securities broker or the Hong Kong Securities Clearing Company Limited.
The retail infrastructure bond will be issued on December 17 and listed on the Stock Exchange of Hong Kong on the following business day (December 18). It can be traded in the secondary market. To facilitate higher participation from Hong Kong residents, a maximum allocation of HK$1 million per investor will be stipulated, meaning that each investor will be allocated 100 lots of the bond at most.
"The Government's issuance of the retail infrastructure bond will provide to citizens a safe and reliable investment option with steady returns, as well as a 'sense of participation' and a 'sense of gain' in support of infrastructure projects for Hong Kong's long-term development. It will, on the other hand, finance infrastructure projects to facilitate their early completion for the good of the economy and people's livelihood. This issuance will also further promote the development of the retail bond market and financial inclusiveness," the Financial Secretary, Mr Paul Chan, said.
The Financial Secretary announced in the 2024-25 Budget that the Government will issue HK$20 billion worth of retail bond this year. Subject to the subscription response, the Government may exercise discretion to increase the issuance size to a maximum of HK$25 billion from the original HK$20 billion target.
The offering terms and subscription arrangements of the retail infrastructure bond, including the list of placing banks, as well as the details of the Infrastructure Bond Programme, will be available on the Hong Kong Government Bonds website (www.hkgb.gov.hk).
Government launches retail infrastructure bond Source: HKSAR Government Press Releases
CHP announces one new confirmed melioidosis infection case over past week
The Centre for Health Protection (CHP) of the Department of Health today (November 15) said that one new confirmed melioidosis infection case had been recorded in the past week (November 8 to 14).
The case involves an 80-year-old male with underlying illnesses who lives in Kwun Tong. He developed a fever and cough on October 30 and was admitted to United Christian Hospital from November 2 to 5. He was admitted to United Christian Hospital again on November 7 after his clinical samples were confirmed positive for Burkholderia pseudomallei upon testing. The patient is in stable condition.
The CHP is investigating the infection source of the case. Epidemiological investigations are ongoing. So far, 22 melioidosis infection cases have been recorded in Hong Kong this year. In 2023, 17 melioidosis infection cases were recorded.
A spokesman for the CHP reiterated that person-to-person transmission and animal-to-human transmission are rare, but melioidosis bacteria can survive in the local environment. Melioidosis is an endemic disease in Hong Kong and melioidosis cases have been recorded in Hong Kong each year. According to literature, infection cases are more common after typhoons or storms. The bacterium Burkholderia pseudomallei of melioidosis in soil and muddy water may become exposed to the ground after typhoons or storms, and the bacteria could spread more easily with strong winds or storms. As such, the number of melioidosis cases may increase.
The CHP reminded members of the public that melioidosis can be spread by contaminated soil and water during and after typhoons and storms. Where practicable, people should stay indoors during typhoons and storms, avoid travelling to areas with potential flooding, and do not wade in or have contact with muddy water and soil. In addition, high-risk individuals should avoid paths near stormwater drains where aerosols may be generated from contaminated water.
Members of the public should also take the following preventive measures against infection:
Avoid contact with contaminated soil;
Wear appropriate protective clothing or footwear when participating in activities with possible contact with soil or water, e.g. using gloves and wearing boots. High-risk individuals may also consider wearing a surgical mask;
Wash or shower after exposure to contaminated water or soil;
Always clean any wounds as soon as possible and cover any cuts or grazes with waterproof dressings;
Wash hands with liquid soap and water after handling soil or gardening;
Observe food hygiene and avoid drinking raw water; and
Travellers can contract the disease through outdoor water sports. Risk of infection can be minimised by avoiding exposure to water sources (such as rivers, ponds or lakes) that might be contaminated.
The CHP appealed to members of the public to seek medical advice if they develop symptoms, in particular people with diabetes or other immunocompromised conditions, in order to receive an appropriate medical diagnosis and treatment. For more information on melioidosis, please visit the website of the CHP atwww.chp.gov.hk/en/healthtopics/content/24/101110.html.
