Fortune Reit sees costs rising on utility rates, minimum wage hikes
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Singapore
RISING utility rates, inflation and statutory minimum wage hikes in Hong Kong will hike up its operating expenses in the medium term, Fortune Reit said in its annual report released yesterday.
The retail Reit also faces risks from Hong Kong's economy which is "bottoming out". The country's growth in 2013 has been "gradual", wrote Chiu Kwok Hung Justin, chairman of ARA Asset Management (Fortune) Limited which manages the Reit, in the 'Chairman's Report'.
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