University hospital in Hong Kong seeks more time to repay HK$4 billion loan
Hong Kong lawmakers are skeptical about the Chinese University of Hong Kong (CUHK) Medical Centre's ability to begin repaying a HK$4 billion government loan within three years, urging a review of its financial projections. This concern arises from the hospital's higher-than-expected losses and lower cash reserves.
Despite these doubts, the Legislative Council's health services panel has agreed to support a three-year extension to the repayment plan, pushing the final repayment date to 2037. This extension, following a previous two-year extension, requires approval from the Finance Committee. Lawmakers like Michael Tien Puk-sun have criticized the university's financial forecasts as unrealistic, even suggesting a temporary postponement to reassess the situation with updated data.
via SCMP Full Text Feed
Hong Kong lawmakers are skeptical about the Chinese University of Hong Kong (CUHK) Medical Centre's ability to begin repaying a HK$4 billion government loan within three years, urging a review of its financial projections. This concern arises from the hospital's higher-than-expected losses and lower cash reserves.
Despite these doubts, the Legislative Council's health services panel has agreed to support a three-year extension to the repayment plan, pushing the final repayment date to 2037. This extension, following a previous two-year extension, requires approval from the Finance Committee. Lawmakers like Michael Tien Puk-sun have criticized the university's financial forecasts as unrealistic, even suggesting a temporary postponement to reassess the situation with updated data.
via SCMP Full Text Feed
