Hi Pizza,
I worked for HX for two years as a permanent employee. I left a year ago when management started to cut back on the engineers terms and conditions.
Hong Kong is a great place to live but it is very expensive. A litre of milk will cost you 23 HK$, a stubby bottle of Philipines San Miguel will cost you around 50 HK$ in one of the main night spots.
You can live cheaply out there if you go semi native, but its quite hard to do.
If you are going out there with family, then you should be aware that international schooling is very expensive. The permanent guys get a schooling allowance which is very generous but still leaves them with large monthly bills for school buses etc.
If you have been offered the Gold Coast for your accomodation then I can recommend it. Its a great place for families and the local night life is reasonably cheap to enjoy.
You will find that you are on quite a small salary out there compared to a lot of other ex-pats. No different to working at home.
Hope this helps you. If you do decide to go out, be prepared for the culture shock. It could take you 2 years to get to like the place and even then you have to get out every few months for a break.
Regards,
Some Fokker