Hong Kong and China Gas no concrete price hike plan

HONG KONG (AFX-ASIA) - Hong Kong and China Gas Co has no "concrete" plan to raise tariffs although there is pressure to do so, the South China Morning Post reported, citing managing director Alfred Chan who said that tariffs have remained unchanged for three years.Chan said the company will spend about 700 mln hkd to strengthen gas pipelines and maintenance services to boost sales.Separately, Chan said Hong Kong and China Gas will realise the proceeds from the sale of the remaining two-thirds of King's Park Rise apartments this year.Without indicating the amount likely to be raised, Chan said he is optimistic about the sales, even though company chairman Lee Shau Kee felt the property market was slow.  

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