To enhance liaison and co-operation with our counter-parts in Taiwan, a delegation of 8 HKIS Members visited the Republic of China Real Estate Appraisers Association (ROCREAA) (中华民国不动产估价师公会全国联合会) and other stakeholders in Taiwan during the period from 19 to 22 April 2012. The GPD delegates were Messer Francis Ng, Edward Au, K K Chiu, Joseph Ho, C K Lau, Lawrence Poon and Elsa Ng. HKIS Vice President Mr Simon Kwok also joined the event. For details of the Taiwan visit, please see another article written by Mr Edward Au.

 

This visit did not come easy. At the 11th hour on the night before departure, some delegates received sudden e-mail notification from the airline informing that the scheduled flight 8:10 in the following morning was cancelled. Other delegates who did not check-in on-line beforehand were not aware of the case until they received phone calls/ e-mails from others.

 

Relentless efforts were made to liaise with the airline. Eventually, with the unfailing insistence of Messer Edward Au and K K Chiu, seats were eventually reserved for a later flight with a sister airline. This was fixed at 1:30 in the morning. Notwithstanding that we had to wake up very early and leave home as early as 5:45 a.m., we were relieved to arrive at Taipei in good shape just before noon. The weather was good there although we learned subsequently that it was terrible in Hong Kong immediately after our departure.

 

In early afternoon, the HKIS delegates met with representatives of ROCREAA and our counter-parts (Department of Land Administration, National Taipei University, Land Administration Agent Guild of Taipei City etc). The delegation was warmly greeted by the hosts. We introduced the HKIS set up, professional training, work of practitioners and related issues. Business valuation standards were explained in detail. Whereas Taipei ROCREAA representatives elaborated on problems encountered when assessing current market land values, control on property speculation, provision of housing for the low/ middle income groups etc.

 

While still in Taipei, we met with representatives of the Securities and Futures Bureau to exchange view on alignment of valuation practice with international standards, the valuation approach for intangible assets, and professional qualification for carrying out business valuation.

 

The delegation also took the chance to visit the Taipei 101 Tower to get to know about the leasing and management of the highest office tower in Taiwan.

 

On the second day, the delegates headed for Kaohsiung.. We were pleased to have an opportunity to discuss issues of mutual concern with members of ROCREAA Kaohsiung and also those key stakeholders of the land administration and property development. Before we left, we visited a new development (called Glory Building) and learned ways and means to promote flat sales.

 

The HKIS Delegation Visit was also reported in Taiwan Times. From the response and various issues raised, I would say the visit was very successful in building up a closer relationship between HKIS and ROCREAA and the counterparts in Taiwan.

 

GPD Working Group on Valuation (members include Messer Lawrence Poon, Charles Chan, Joseph Ho and C K Lau) met with the Lands Department on 27 February 2012 and went through parameter on ‘construction cost’ under residual valuation. In addition, 4 representatives from REDA also attended the meeting. Good progress was made. The working group has requested for a follow-up meeting in about 3 months’ time with the Lands Department.

 

Another meeting was held with RLB on 9 March 2012 with representatives of the GPD Working Group and REDA to go through the points made with the Lands Department (LandsD). The working group has come up with suggestions to RLB on cost advice (including transparency/ availability of information to interested parties and elaboration of various assumptions and items, etc). A follow-up meeting with RLB will soon be held. Members will be kept informed of the progress in due course.

 

A request was made on 13 March 2012 to LandsD to resume the liaison meeting to discuss, inter alia, lease conditions for data centre. LandsD said that the meeting would be held on 26 April 2012. Agenda items will include: lease conditions for data centre use, time taken for DD&H approval, definition of GFA and site coverage for exempted features/structures. HKIS members will include Messer Lawrence Poon, Tony Wan, Joseph Ho, Selene Chiu and C K Lau.

 

Please note the following correction to GPD Chairman’s Message on page 12 as published in the March Surveyors Times. The 7th Cross Strait Land Conference will be held on 5 to 7 July 2012 in Macau.

 

We apologise for any inconvenience this may have caused.