Standard Toaster,
Please keep in mind that the 13th in not contractual and on a few occasions we all have missed out on the elusive 13th...
As a 2nd officer you will have a lot of time on your hands and whilst all your mates are pissing it up at the "Fong" or going on holidays all over the world you will be sitting in your tiny flat wanting to do the same. Further I don't think HK$300 a week for food is enough - please keep that in mind.
If I was a wannabe without experience I would jump at the opportunity... free training and a jet job... I joined as a DESO with a couple thousand hours experience but I can say with confidence that if CX had offered me the SO job without housing I wouldn't have taken it since I have done my careful research about the cost of living in HKG.
Just to clarify - there is nothing wrong with cadets in CX - we have a lot of very good pilots who come from the cadet scheme; it's just the terms and conditions which worry everyone - there is no way you can have a family when you are older on a CX salary without housing.
If you take the job then go ahead but please don't bitch to me at 3am over the Pacific or the Himalayas about getting short changed...