823頻道
ISSUE 20
Summer 2016 Edition 2016夏季

獨到分析 為領展出謀獻策
專訪獨立非執行董事王于漸教授
Strategies Through
Intellectual Insights - 
Interview with Link's Independent
Non-Executive Director
Professor
Richard Wong

獨到分析 為領展出謀獻策
專訪獨立非執行董事王于漸教授 
Strategies Through 
Intellectual Insights -  
Interview with Link's Independent
Non-Executive Director
Professor
Richard Wong

領展獨立非執行董事王于漸教授(Richard)為知名經濟學者,經常為經濟把脈,對香港房屋政策素有研究,亦深明自由市場對社會發展的重要。王教授分析獨到,學識廣博,服務領展近九年,為公司出謀獻計,並見證團隊茁壯成長。

他指出,公屋落成年代及所屬區域,均影響其人口特色,如新界區屋邨相對市區有較多年輕家庭。市區人口則較為密集,更有利於領展商場吸引不同屋苑的顧客。商場營運要與時並進,因應客群年齡、家庭狀況等變化,作出調整配合。

「對於提供適切服務迎合顧客要求,領展持續有進步,這不但見於物業形象、顧客意見調查、品牌聲譽等,最重要的指標是更多顧客到臨消費,因為顧客是生意的來源,是最終的老闆。」Richard說。

「領展基金單位價格上揚,加入恒指,都證明物業潛力得以釋放。過去多年全球貨幣量寬造就低息環境,領展亦充分把握機遇,於財務、物管以至資產優化方面,都取得佳績。」

他指出,今天的領展團隊更為專業化,業務擴展至內地一線城市,其管理專業知識正好大派用場。「公司進軍內地,正好反映管理水平的進步,基於房託的特質,向外發展應循序漸進,要看清增值機會才進行投資。」

「對社區公益,領展團隊亦十分熱心。團隊工作跟社區進步密不可分,是正和遊戲,領展業務做得好,一定會令社區有改善。」

Richard的座右銘是用心做好當前工作,全情投入,亦要保持樂觀心態,開心迎接每一天。他亦建議要安排好時間運用及工作量,保持精神抖數。

對於社會跨代繼承,他認為,80年代大學學額大幅增加,其後畢業大學生面對競爭較大,加上金融風暴對經濟的嚴重衝擊,或會感到事業發展不如上一輩。相信只要累積更多工作經驗,五至十年後,取得的發展機會將遠較今天為多。

對於公司可如何做得更好,Richard亦作出建議。「科技創新可隨時轉變行業生態,因此企業要有胸襟接受外界新事物,員工要不斷學習及自我更新。面對網購的盛行,由於人總愛逛街,商場發展要點是如何同時兼顧購物及服務,吸引顧客到訪。」


Professor Richard Wong is Link's Independent Non-Executive Director, a well-known economist, a firm believer in the free market and its power to drive social progress, and a regular provider of insightful analyses on economic growth and housing policies in Hong Kong. Serving on Link's board since 2007, Professor Wong's profound knowledge and wise counsel have strongly influenced Link's development, supporting the team's growing strength and improvement through its first decade.

Richard noted that the demographics of public housing estates in Hong Kong are shaped by the estates' completion years and locations. For example, public housing estates in the New Territories tend to have greater numbers of younger families than those in urban areas. Urban districts are more densely populated, facilitating Link to serve more residential communities. As the age profiles and family conditions of the customers change, the shopping centres need to adapt their strategies to the needs of the time.

"Link has been making good progress in catering to the evolving wants and needs of customers, as demonstrated in the images of the properties, customer surveys, brand reputation, and most importantly, the increase in customer traffic and spending," said Richard. "Since customers are where business comes from, they remain the ultimate boss for Link," he said.

"The successful realisation of Link's portfolio potential is highlighted by its strong unit price and inclusion in the Hang Seng Index," said Richard. "With worldwide monetary easing giving rise to a low interest rate environment in recent years, Link has made good use of the opportunities to augment its financial strength, improve the management of its properties, and enhance asset quality."

Richard also said that Link's professional team will put its management expertise to good use as it continues to expand into first-tier Mainland cities. "Link's foray into the Mainland market reflects the further enhancement of its management capabilities," said Richard. "Because of the nature of REITs, when investing outside Hong Kong, Link should take a step-by-step approach and look carefully at investment opportunities to ensure they can add value."

"Link's team also retains a strong spirit of community service. Its work is closely aligned with societal progress. It is a positive sum game, which means that the community will be able to benefit from the continuous improvement of Link's performance," he said.

Richard Wong lives by the motto "going all out". He also stressed the need to maintain an optimistic attitude, and begin each day with a happy heart. In order to stay energetic, Richard suggested prioritising tasks, and taking on the right amount of work to keep one's spirits high.

He also expressed his views on passing on opportunities to the next generation. Given the expansion of the tertiary education sector in the 1980s, university graduates entering the workforce may feel their career prospects aren't comparable to previous generations, because of the greater competition and financial crises. He expects this situation to change in five or ten years' time, as this new generation gains more work experience and sees more opportunities come their way.

Offering his comments on how Link can further improve, Richard said, "Since technological innovation has the potential to disrupt traditional industries within a very short time, businesses must be open to new ideas, and staff members need to commit themselves to continuous learning and self-improvement. In the face of online shopping popularity, given that people enjoy going out as social beings, the challenge is for shopping centre owners to come up with new ways to combine both shopping and services to attract customer visits," he said.

承先啟後 領展員工大會
Building on Strong Foundation


員工大會以「承先啟後」為主題,全體同事一同回顧年內取得的成果,前瞻未來發展。於壓軸「領展峰會」環節,新任主席聶雅倫及行政總裁王國龍就多個題目即席分享意見,對談要點如下。

請分享對於公司發展狀況的看法 ?

主席聶雅倫:我的績分表上有三個項目,即有否一個優秀的行政總裁,是否有一個合作無間的董事會,致力維持高水平的企業管治,以及制定策略方面是否有好的程序。在這三方面,領展均已達標。作為公司主席,我會確保同事繼續享有良好環境,推展各式措施優化業務。

為何加盟領展 ?

主席聶雅倫:我十分幸運,於1983年來港服務,在這裏的工作非常順利。能夠效力一些大型機構,這些機構令香港成為今日的香港,對我來說十分重要。加入領展正好給我這樣的機會。

領展有何競爭優勢,以及未來將面對什麼挑戰 ?

行政總裁王國龍:公司表現最好的兩組員工,流失率分別為零和個位數字。能夠留住最優秀的員工的公司並不多。多項重大業務措施都需時數年制定和執行,有賴一個高穩定性的團隊,這亦成為我們的競爭優勢。經濟環境短期充滿挑戰,同事應該保持警覺,繼續提高服務水平及效率,讓顧客及商戶更加稱心滿意。

主席聶雅倫:領展穩建業務令我印象深刻。隨著零售市場放緩,領展業務抗逆力成了我們重要優勢。對於未來的挑戰,旺角商業項目和九龍東發展項目順利進行,可讓市場知道,我們不僅能落實交易,亦有良好的執行能力。我們還需要繼續探索收購機會,支持未來二至四年的業務增長。


主席聶雅倫首度參與員工大會,分享對業務發展的觀感及期望。
At the staff townhall meeting, Chairman Nicholas Allen offered his views and expectations on Link's business plans and practices.


大會壓軸環節,主席和行政總裁接受訪問,就同事關心的多個題目暢所欲言。
Addressing the questions at the top of everyone's minds, the 'Dialogue with Chairman and CEO' session brought the meeting to a climactic close.


「物業組合10」團隊於「卓越商場管理大獎」摘金,喜形於色。
Cluster 10 emerged as the winner of the 'Best Managed Portfolio Award'.


新成立的資產管理團隊,肩負提高資產營運效益
的重任,各成員分享工作感受。
Members of the newly formed asset management team expressed their views on further driving customer focus.


公司年內於多方面取得卓越成績,行政總裁致辭時邀請全體員工向身旁的同事衷心道謝。
When addressing staff, CEO George Hongchoy invited everyone on the team to say thank you to each other for Link's achievements in a number of areas.


前線同事獲頒卓越服務大獎,笑逐顏開。
The winners of the 'Best Service Ambassador Awards' were grateful to be acknowledged for their excellent service.

At the recent staff townhall meeting, apart from reflecting on past achievements and looking ahead to future developments, Link's team was treated to a candid conversation with new Chairman Nicholas Allen and CEO George Hongchoy. The 'Dialogue with Chairman and CEO' included the following highlights.

What are some of the things on your mind as Link's new Chairman ?

Nicholas Allen: My scorecard has three things on it. Namely, whether I have a good CEO, whether the Board works well as a group and is committed to high standard of corporate governance, and whether we have a good process in place for developing and implementing strategies. I'm pleased to say that Link has check marks in all these three areas. As Link's chairman, I will make sure that Link continues to provide the environment for the team to devise and implement new initiatives to enhance the business.

Why did you decide to join Link ?

Nicholas Allen: I'm very fortunate to have served in Hong Kong since 1983, and I have a very good career here. What's important for me is to work in an organisation that is a large part of what makes Hong Kong what it is today. Joining Link gave me that chance.

What are some of your views on Link's competitive advantages, as well as its foreseeable challenges ?

George Hongchoy: The attrition rates for the first two groups of our best-performing staff are zero and single digits, respectively. Not many companies can retain their best staff as well as we do. It takes years of work to develop and execute many key business initiatives. Having a highly stable team allows us to do that, which gives us a competitive edge. In face of the challenging economic environment, we should remain vigilant and continue to enhance service quality and efficiency to bring about a more welcoming experience.

Nicholas Allen: I'm impressed by the resilience of Link's business. As the retail market came under pressure, the sheer resilience of our business has become a big advantage for us. Regarding future challenges, I am pleased to say that we are doing very well in executing the Mong Kok project and the East Kowloon development project. We need to show the market that, not only can we sign those deals, we can execute them. We also need to be looking at acquisitions for expansion that will support business growth for the next two to four years.

單車百萬行 愛心馬拉松
同心同行為公益
Link Staff Head Outdoors
for Charity

領展贊助同事參與慈善康體活動,共襄慈舉,並增進彼此認識。十名同事於「2016博愛單車百萬行」活動,完成全程約十三公里的路程,途經青沙公路、南灣隧道及昂船洲大橋,除了籌款支持博愛醫院社會服務發展,亦可宣揚環保生活。

「2016兒童愛心馬拉松」籌款活動於跑馬地馬場舉行,近50名領展同事帶同家人圍繞馬場跑步,全程約2.2公里,既可做善事,令病患兒童及其家人受惠,亦有益身心,更可加強親子關係。

Link frequently sponsors its staff members at outdoor charity events that support the underprivileged. Ten Link employees recently took part in the 'Pok Oi Cycle for Millions', completing a 13-kilometre route spanning the Tsing Sha Highway, Nam Wan Tunnel, and Stonecutters Bridge. The cycling challenge raised funds to support Pok Oi Hospital's efforts to develop social and community services, while promoting a greener lifestyle.

Featuring a 2.2-kilometre route at the Happy Valley Racecourse, the 'McDonald's Kidathon' fundraising event supports children who are seriously ill. Fifty colleagues from Link and their families joined the sporting occasion.

編者的話 Editor's Message
首發綠色債券
推動低碳社區
Enhancing Environmental Stewardship

through Green Bond

可持續發展是領展業務策略及營運的核心,當中環境可持續發展更是公司積極大力推動的範疇。配合旗下多個綠色項目的推展,領展最近發行其首個綠色債券,這批2026年到期的五億美元定息債券,息率為2.875%,是香港企業及亞洲房地產企業發行的首個綠色債券,彰顯領展致力推動環境保護,並於可持續發展處於領導地位。

綠色債券乃按照綠色債券原則制定,並且定有清晰的款項分配準則,以確保籌得資金用於綠色項目。預計領展的九龍東商業項目將獲分配有關資金,該項目將以取得香港綠色建築議會綠建環評(HK-BEAM)及領先能源與環境設計(LEED)之鉑金認證為目標。領展將就籌得資金的使用,透過其綜合年報以及網站每年作出匯報。

不論於提升節能減排、廢物管理、推擴低碳運輸,領展於多個綠色領域均取得長足進步。領展近年獲納入國際知名的富時社會責任指數及道瓊斯可持續發展指數亞太指數,正好印證團隊所作的努力。

領展領先亞洲同儕,推出綠色債券,將企業可持續發展措施及資本市場聯繫起來。期望日後會有更多區內及本港企業透過綠色債券,加強面對氣候變化影響的抗逆力,一同為建構低碳社區而努力。


With sustainability at the heart of our business strategy, Link works to actively embed sound environmental practices into its operations. To meet the funding needs of the company's various green projects, Link recently issued its first green bond, raising US$500 million at a fixed rate of interest of 2.875% due 2026. This is the first green bond ever issued by a Hong Kong business enterprise and property company in Asia, reinforcing our leadership in sustainable development and our commitment to environmental stewardship.

To ensure the funds are allocated to green projects, the green bond was prepared according to the Green Bond Principles with clear criteria on project eligibility. Among the projects that will be allocated the proceeds from the bond issue is our Kowloon East office project, which will be built to HK-BEAM Platinum and LEED Platinum green building standards. Link will also report annually on the allocation of proceeds through its integrated annual report and website.

From energy and waste management to the promotion of low-carbon transport, Link has made great strides in recent years to make a positive impact on the environment. Our inclusion in major international indexes such as the FTSE4Good Index and Dow Jones Sustainability Asia Pacific Index underscores the efforts made by our team.

A pioneering move among our peers in Asia, the new green bond provides a direct link between our corporate sustainability initiatives and capital markets. It is hoped that as more businesses in Hong Kong and the region embrace green bonds, it will not only improve our resilience to the impacts of climate change, but also contribute to the development of thriving low-carbon communities.

編輯委員會

Editorial Board

  • 張廣仁 Claudio Cheung
  • 何嘉善 Kassy Ho
  • 關凱臨 Calvin Lee Kwan
  • 李應權 Danny Lee
  • 盧炳松 BC Lo
  • 吳於恩 Yvette Ng
  • 企業傳訊部編製 Produced by Corporate Communications Department