Go Back  PPRuNe Forums > PPRuNe Worldwide > Fragrant Harbour
Reload this Page >

HK$ 4.8 Billion profit resulting from Time to Win strategy

Fragrant Harbour A forum for the large number of pilots (expats and locals) based with the various airlines in Hong Kong. Air Traffic Controllers are also warmly welcomed into the forum.

HK$ 4.8 Billion profit resulting from Time to Win strategy

Old 15th Mar 2018, 05:02
  #21 (permalink)  
 
Join Date: May 2007
Location: CLK
Posts: 312
“Swire Properties (1972) today reported full-year profit of HK$33.95 billion from compared with HK$15.05 billion in 2016.”
I would imagine our Swire employee managers/directors would be receiving quite a bonus from this profit. Perhaps it will make up for their foregoing any CX related bonus?????
Farman Biplane is offline  
Old 15th Mar 2018, 05:04
  #22 (permalink)  
 
Join Date: Jul 2011
Location: B050 No SAR No Details
Posts: 35
I would like to know why Inland Revenue allow a fine levied against fraudulent behaviour such as cargo price fixing to be written off against taxable profit? Sadly, we frequently see large corporations getting a smack on the wrist for fixing interest rates, cargo fees, currency exchanges etc and no-one gets sacked or shut down. It is obviously a management decision to task an individual, group of individuals or even a whole department with the job of defrauding their customers as the profit - even allowing for being caught and fined - is worthwhile. Then, when caught, they double dip by writing down the fine as a cost of doing business.
Another thing that gets my goat is that despite managing us into a black hole, Swire have elected to pay the full dividend to shareholders (ie themselves). They already skim their "management fee" before losses, but evidently that isn't enough.
They then have the gall to tell the employees that they need to tighten their belts and take one for the team. Good luck selling that one!
mothy1583 is offline  
Old 15th Mar 2018, 05:09
  #23 (permalink)  
 
Join Date: Mar 2008
Location: London
Posts: 1,544
The employees are always more important that itinerant shareholders. It's disgusting they have paid the full dividend, but just more evidence for the AOA to hold the line against ANY concessions. If the shareholders can be treated such, then so shall we. Actually, where is the pay review and the overdue pay raise?
Trafalgar is offline  
Old 15th Mar 2018, 06:45
  #24 (permalink)  
 
Join Date: Apr 2002
Location: HK
Posts: 1
Originally Posted by Farman Biplane View Post
“Swire Properties (1972) today reported full-year profit of HK$33.95 billion from compared with HK$15.05 billion in 2016.”
I would imagine our Swire employee managers/directors would be receiving quite a bonus from this profit. Perhaps it will make up for their foregoing any CX related bonus?????
Does raise the question of why do they bother, unless they like the high profile that an airline has. Personally I would have sold CX/KA to the PRC a long time ago, and consoled myself with the piles of gold from property
Freehills is online now  
Old 15th Mar 2018, 06:58
  #25 (permalink)  
 
Join Date: Apr 2002
Location: HK
Posts: 1
Originally Posted by mothy1583 View Post
I would like to know why Inland Revenue allow a fine levied against fraudulent behaviour such as cargo price fixing to be written off against taxable profit? Sadly, we frequently see large corporations getting a smack on the wrist for fixing interest rates, cargo fees, currency exchanges etc and no-one gets sacked or shut down. It is obviously a management decision to task an individual, group of individuals or even a whole department with the job of defrauding their customers as the profit - even allowing for being caught and fined - is worthwhile. Then, when caught, they double dip by writing down the fine as a cost of doing business.
Another thing that gets my goat is that despite managing us into a black hole, Swire have elected to pay the full dividend to shareholders (ie themselves). They already skim their "management fee" before losses, but evidently that isn't enough.
They then have the gall to tell the employees that they need to tighten their belts and take one for the team. Good luck selling that one!
They don't. From the IRD
Examples of non deductables: ♦ penalties/fines for breaking the laws; ♦ entertainment expenses not expended for business purpose; and ♦ rent or expenses relating to premises not occupied for the purpose of producing assessable profits.
Freehills is online now  
Old 15th Mar 2018, 07:59
  #26 (permalink)  
 
Join Date: May 2007
Location: CLK
Posts: 312
Perhaps driving down employees COS and ignoring contractual and EO entitlements is considered a sport to them?
Makes for some great yarns at the China Club no doubt!
Farman Biplane is offline  
Old 15th Mar 2018, 23:45
  #27 (permalink)  
 
Join Date: Jul 2011
Location: B050 No SAR No Details
Posts: 35
Originally Posted by Freehills View Post
They don't. From the IRD
Examples of non deductables: ♦ penalties/fines for breaking the laws; ♦ entertainment expenses not expended for business purpose; and ♦ rent or expenses relating to premises not occupied for the purpose of producing assessable profits.
Thanks for clarifying that...blood pressure returning to lower levels.
mothy1583 is offline  
Old 27th Mar 2018, 01:10
  #28 (permalink)  
 
Join Date: Apr 2002
Location: HK
Posts: 1
Some interesting math:

Value of CX 53bn HKD

Value of CX shares in Air China 33b HKD

Basically, the market thinks CX is only worth 20bn HKD.
Freehills is online now  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.