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Harrow: HK$1000 a year rent + HK$270 m interest free loan

  1. #11
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    Before jumping on the corruption bandwagon, people might take note that many other international schools like CDNIS, CIS, HKIS and the ESF schools have received assistance from the government in securing land and raising money.

    Harrow is registered like many others as a non profit organization.

    As it was pointed out, some people complain against the government because there aren't enough International school places and then find more to complain because the government helps in the funding. Damned if you do and damned if you don't...

  2. #12
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    Quote Originally Posted by jaykay
    There will always be thing my company can't do or is prevented from doing that others can. And we're all licensed the same.
    In a similar situation. Working for a well known MNC, and code of business ethics prevents us from truly competing with HK/Chinese companies that will do anything to close a deal including thinly disguised bribes and they rarely, if ever, get fined for it.

  3. #13
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    >> Harrow is registered like many others as a non profit organization.

    True.

    But have they received interest free loans? I am sure the ESF and other schools like HK Academy ( moving to Sai Kung ), Kellett ( moving to Sai Kung ) would like to receive interest free loans.

    From what little I've read (and I could be wrong, because very little is published on schools websites) most of these schools have taken commercial loans, debentures and donations to fund their premises.

    Anyways - this is all a good conspiracy theory of which there are unfortunately too many being associated with Bow-Tie right now.
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  4. #14
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    ESF received a lot better than loans... a 283 million dollar subsidy which was even cut down a few years ago. Also in order to educate the wealthier section of HK.

    The Jockey Club which obviously has strong government ties donated 90 billion dollars for the construction of CDNIS...

    More example of comments without knowledge. I guess those are not newsworthy since there's no niece involved

    Classic examples of using tidbits of information without context to make something appear far worse than it is...

    From LEDGCO:
    LOAN FUND HEAD 252 – LOANS TO SCHOOLS/TEACHERS Subhead 104 Loans to non-profit-making international schools Capital assistance loan to the Hong Kong Academy Educational Foundation Limited

    Members are invited to approve –
    (a) an increase in commitment under Head 252 Loans to Schools/Teachers Subhead 104 Loans to non-profit-making international schools of the Loan Fund by $157.72 million; and
    (b) an allocation of $157.72 million from the Loan Fund for providing an interest-free loan to the Hong Kong Academy Educational Foundation Limited towards meeting part of the construction cost of its new school premises at the juncture of Mei Yuen Street and Wai Man Road, Sai Kung, New Territories.

    LOAN FUND HEAD 252 – LOANS TO SCHOOLS/TEACHERS Subhead 104 Loans to non-profit-making international schools Capital assistance loan to the Kellett School Association Limited

    Members are invited to approve –
    (a) an increase in commitment under Head 252 Loans to Schools/Teachers Subhead 104 Loans to non-profit-making international schools of the Loan Fund by $203.83 million; and
    (b) an allocation of $203.83 million from the Loan Fund for providing an interest-free loan to the Kellett School Association Limited towards meeting part of the construction cost of its new school premises at the juncture of Kai Cheung Road and Wang Kwong Road, Kowloon Bay, Kowloon.
    Last edited by gilleshk; 10-06-2012 at 11:14 AM.

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