Page 118 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2018 年報

CORPORATE SUSTAINABILITY 企業持續發展

Operational risks impact the effectiveness of our daily operations and ᐄ༶ࠬᎈᅂᚤ˚੬ᐄ༶ٙϓࣖdϾҢࡁޢ
we have classified eleven risks that would substantially impact our ֛əɤɓධਗ਼࿁ҢࡁٙΆุᐄ༶ڌତϞࠠ
corporate operating performance. To handle them most effectively, we ɽᅂᚤٙᐄ༶ࠬᎈfމӋ˸௰Ϟࣖٙ˙ό
subsequently defined risk mitigating measures and captured Key Risk Ꮠ࿁޴ᗫᐄ༶ࠬᎈdҢࡁՉܝՓࠈಯჀࠬ
Indicators on a regular basis for risk monitoring. These included ᎈٙણ݄dԨ֛ಂা፽˴ࠅࠬᎈܸᅺ˸Զ
measures to ensure that our housing products and related services are ္࿀ࠬᎈfவԬણ݄ٙϓܼࣖ̍ᆽڭҢࡁ
financially viable and delivered according to the expectations of our ה౤Զג܊ପۜʿ޴ᗫ؂ਕίৌ݁ɪѩ᙮
various stakeholders. Measures were also defined to monitor the cost, ʲྼ̙БdԨୌΥʔΝܵ΅٫ٙಂૐd˸
progress, quality and safety standards of all the housing projects under ʿ္࿀הϞ೯࢝ʕג܊ධͦٙϓ͉eආܓe
development. ሯ९ʿτΌᅺ๟f

As the Housing Society operates on a self-financing principle, we have ͟׵ג՘˸Іࠋޮᑦٙᅼόᐄ༶dҢࡁϞ
put in place a process to closely monitor the financial performance of ֛݅ٙ೻ҏd੗ʲ္࿀ҳ༟࣪ݖɨᗇՎҳ
our securities investments under an established investment framework, ༟ٙڌତdԨᆽڭϞ̂༃༟ږᏐ˹೯࢝ʕ
while also ensuring there are sufficient funds for projects in the ٙධͦfҢࡁ͵ʊՓࠈࠥЭࠬᎈٙણ݄d
development pipeline. Mitigating measures are also defined and Ԩ֛ಂ္࿀d˸Ꮠ࿁ऒʿՉ˼ุਕݴ೻ٙ
monitored regularly to address operational risks related to other ᐄ༶ࠬᎈdܼ̍༟ৃ߅Ҧeɛɢ༟๕eΆุ
business processes including information technology, human resources, ෂৃʿΆุ؂ਕf
corporate communications and corporate services.

Key Areas of Strategic Risks 策略風險的主要範疇
Property Sales 物業銷售

With elevated property prices in recent years, our target customers for ᎇഹᅽᄆڐϋʔᓙ㌷ʺdג՘уԴܲұᜫ
Subsidised Sale Flats (SSF) may not be able to afford them, even at ᄆ೯ਯᒍɨ༟п̈ਯג܊dͦᅺ܄˒ʥ̙
discounted prices. To mitigate this risk, the Management will continue ঐೌجࠋዄfމࠥЭϤࠬᎈd၍ଣᄴਗ਼ᘱ
to review the SSF design framework to match customers’ requirements ᚃᏨী༟п̈ਯג܊ٙணࠇ࣪ݖd˸ৣΥ
while maintaining an overall sustainable SSF model. ᚥ܄ࠅӋdΝࣛ˿༟п̈ਯג܊̙ٙܵᚃ
ᅼό੻˸ၪܵf

Property Leasing and Management 物業租賃及管理

To ensure the effective and fair allocation of scarce subsidised housing މᆽڭϞࣖʿʮ̻ʱৣ೵ॹٙ༟пג܊༟
resources, later this year the Housing Society will introduce the Well-off ๕dג՘ਗ਼׵ʦϋ೹ܝࣛගપБ˜బ˒݁
Tenants Policy (WTP). As the affected target customers are from low- ഄ™f͟׵աᅂᚤٙͦᅺ܄˒ѩԸІЭϗɝ
income groups, the Management will carefully monitor the චᄴd၍ଣᄴਗ਼˺୚္࿀˜బ˒݁ഄ™ٙྼ
implementation of the WTP to ensure a smooth roll-out. ݄ઋرdᆽڭ੻˸නлપБf

Redevelopment of Rental Estates 重建出租屋邨

Today we have seven rental estates that are more than 50 years old. Our ࣛЇʦ˚dג՘ᒍɨɖࡈ̈ॡ܊㡼ٙᅽᙧ
long-term commitment to redevelop our ageing estates is a heavy ʊ൴ཀʞɤϋfג՘࿁׵ࠠܔ৷ᙧ܊㡼ٙ
burden on our financial reserves. The challenges of identifying re- ڗჃוዄd࿁Չৌ݁Ꮇ௪࿴ϓӐࠠࠋዄf
housing sites, our tenants’ expectations of in-situ re-housing, as well as ఱ̤ஜΥቇሜቋήᓃٙܿ኷eИ˒ಂૐࡡ
the prolonged statutory planning process, all have significant ਜτໄd˸ʿဘڗٙج֛஝ྌཀ೻dѩ࿁
implications on the financial viability of our redevelopment projects. ג՘ᒍɨࠠܔධͦٙৌਕ̙Б׌࿴ϓࠠɽ
The Management will continue to explore ways to enhance the viability ᅂᚤf၍ଣᄴਗ਼ᘱᚃணج౤ʺ܊㡼ࠠܔᅼ
of the estate redevelopment model in order to maintain our long-term ό̙ٙБ׌d˸ၪܵڗჃٙৌ̙݁ܵᚃ׌f
financial sustainability.
116 Hong Kong Housing Society Annual Report 2017/18