HKMA Moves Staff to Kowloon Skyscraper to Trim Costs, Add Space [BNN Bloomberg (Canada)]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: BNN Bloomberg
The city's de facto central bank has leased three floors in the International Commerce Centre owned by Sun Hung Kai Properties Ltd., and is giving up its office space in Pacific Place on Hong Kong Island, the people said, asking not to be identified discussing private information. Relocating to ICC and not renewing the Pacific Place lease will reduce rental costs, said one of the people. It will also free up room in its headquarters that it owns in International Finance Centre, where space won't be cut, the person added. The move will involve workers in the banking conduct and banking policy departments, as well as the HKMA-affiliated research center Hong Kong Academy of Finance, according to the person. Representatives for HKMA weren't immediately able to comment. Sun Hung Kai and Swire Properties Ltd., the owner of Pacific Place, didn't immediately respond to requests for comment. ICC is the most premium office tower on the Kowloon peninsula, attracting foreign firms includ
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