Hong Kong’s Han Academy aims to repay parents after ‘white knight’ steps in

A debt-ridden independent school in Hong Kong has said it aims to settle outstanding payments to parents by the end of the next year with the help of a “white knight”.

Xu Li, the founding supervisor of Han Academy, said on social media on Tuesday that a financial rescuer had stepped in and that the institution was actively pursuing debt restructuring with four repayment instalments being made to debtors by April 29.

She added that parents of all former students would have their capital levy repaid by the end of this year, while all first-hand capital note certificates would be redeemed by the end of 2026.

She expressed gratitude to all those who had supported the school.

“We will continue to run the school with our hearts, and give back to society with quality education,” Xu said.

Founded in 2017, Han Academy in Wong Chuk Hang is a private school operated by the Happy Life Education Foundation. According to the Education Bureau, annual tuition fees range from HK$198,000 (US$25,400) to HK$218,000 for students in Years One to 13.

Source link

Visited 1 times, 1 visit(s) today

Related Article

What does Hong Kong’s obsession with ‘Mr and Mrs Ho’ say about society?

What does Hong Kong’s obsession with ‘Mr and Mrs Ho’ say about society?

Hong Kong’s appetite for gossip-driven news such as reports on the drama-filled life of internet couple “Mr and Mrs Ho” reflects residents’ disinterest in politics and the allure of hot-button topics such as differences in the ages of married partners. The couple first garnered media attention last year during a whirlwind romance that saw the

31 May 2025
Passenger arrested in Hong Kong for alleged theft on flight from Indonesia

Passenger arrested in Hong Kong for alleged theft on flight from Indonesia

Hong Kong police have arrested a passenger for allegedly stealing cash and jewellery from two backpacks on a flight from Indonesia, as authorities continue their efforts to combat a persistent rise in cabin-related crimes. Airport police said on Saturday that two passengers the previous day had reported that cash and jewellery had gone missing from

31 May 2025
Liaison office chief Zhou Ji (second left) with city leader John Lee (second right). Also attending the meeting was the director of the Chief Executive’s Office, Carol Yip Man-kuen (right). Photo: ISD

Hong Kong’s John Lee meets new liaison office chief, vows to pursue fresh growth

Hong Kong’s leader has pledged to identify fresh areas for economic growth as he expressed confidence in working with the newly appointed director of Beijing’s liaison office to speed up the city’s development. Chief Executive John Lee Ka-chiu made the remarks as he met office director Zhou Ji at Government House on Saturday. They exchanged

31 May 2025
Ophir Averbuch

‘Incredibly ironic’: Trump antisemitism effort may force out Harvard’s Israeli Jews

The Trump administration has been attempting to weed out antisemitism at Harvard University by revoking a key certification that allows the university to enroll international students. But that same effort could force Harvard’s Jewish students from Israel — the very people the administration says it is aiming to protect — to leave the country. “I

31 May 2025
Residents have taken to social media to post images of the black particles. Photo: Facebook/Desmond Wang

Black particles in water? Hong Kong says supply at public housing estate is safe

The freshwater supply at a Hong Kong public housing estate in the New Territories is safe, authorities have said, after residents voiced worries over black particles found in their drinking water. The Water Supplies Department on Saturday sought to reassure tenants of Queen’s Hill Estate in Fanling following complaints about a delayed official response to

31 May 2025
Tourism minister Rosanna Law says authorities will do more to attract tourists to stay overnight. Photo: Edmond So

Hong Kong ramps up efforts to attract mainland concertgoers for longer stays

Hong Kong is seeking to entice mainland Chinese visitors with concert and hotel packages, the tourism minister has said, amid concerns about tourists not staying longer and overcrowded border facilities. Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said on Saturday that authorities would do more to attract visitors to stay overnight or for

31 May 2025
New toll system, cheaper fees in place as Hong Kong’s Tai Lam Tunnel handed over

New toll system, cheaper fees in place as Hong Kong’s Tai Lam Tunnel handed over

Hong Kong authorities have taken control of the Tai Lam Tunnel after a 30-year franchise ended, with an electronic toll payment system and cheaper fees implemented in the early hours of Saturday. The Transport Department announced that the government had taken over the tunnel at midnight and conducted works to implement the HKeToll system. Authorities

31 May 2025
Dragon boat paddlers race in Aberdeen. Photo: Dickson Lee

High spirits as Hong Kong’s Dragon Boat Festival kicks off amid strong winds

Hong Kong dragon boat racers are in high spirits for the Tuen Ng Festival, despite strong winds, with tourism authorities expecting a 14 per cent increase in mainland Chinese visitors compared with previous weekends. A tourism spot, where the Stanley International Dragon Boat Championship is taking place, was packed with racing teams and residents on

31 May 2025
The Hong Kong section at the Chelsea Flower Show. Photo: Cliff Buddle

Hong Kong display strikes gold at Chelsea Flower Show with rare orchids

The Chelsea Flower Show, held in London every summer for more than a century, is a British institution drawing around 150,000 gardening enthusiasts to enjoy spectacular floral displays. This year, there was an exhibit with a difference, featuring rare orchids from Hong Kong and other parts of Asia and the Pacific. The vibrant display, with

31 May 2025
Reginal Ip decisively won the debate against Stephen Roach, whose “Hong Kong Prophet” label has been unmasked and now he is silent like an ostrich.

IPO Surge Validates Triumph Over Hong Kong Doom Prophecy

Despite intense geopolitical tensions and a challenging global environment, Hong Kong’s stock market is experiencing a remarkable resurgence. Since the start of 2025, 27 new stocks have been listed, raising nearly HK$80 billion, catapulting Hong Kong to the world’s second-largest IPO market by volume. Over 150 companies are currently queued for IPOs, signaling unstoppable momentum.

31 May 2025
Walter Leung cares for a patient in Pakistan in 2020. Photo: Walter Leung

From Sichuan quake to Gaza war: Hong Kong nurse wins top medal for life-saving work

In a makeshift hospital ward in Gaza, reserved for the most severely wounded and dying patients, Hong Kong nurse Walter Leung Wai-yin, 66, walked up to a woman whose face was partially torn in an explosion. The woman was classified as a “blue case”, which indicates catastrophic injuries that are considered beyond saving. In such

31 May 2025
China Appoints New Liaison Director And Security Advisor For Hong Kong

China Appoints New Liaison Director And Security Advisor For Hong Kong

China’s State Council announced on Friday that Zhou Ji was appointed director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR), and national security adviser to the Committee for Safeguarding National Security of the HKSAR. Meanwhile, Zheng Yanxiong was removed from his posts

31 May 2025
High spirits as Hong Kong’s Dragon Boat Festival kicks off amid strong winds

High spirits as Hong Kong’s Dragon Boat Festival kicks off amid strong winds

Hong Kong dragon boat racers are in high spirits for Tuen Ng Festival, despite strong winds, with tourism authorities expecting a 14 per cent increase in mainland Chinese visitors compared with previous weekends. A tourism spot, where the Stanley International Dragon Boat Championship is taking place, was packed with racing teams and residents on Saturday

31 May 2025
Hong Kong hits a high with global legal body but now comes the hard part

Hong Kong hits a high with global legal body but now comes the hard part

Hong Kong made a groundbreaking move on Friday when it became the headquarters for a new intergovernmental mediation body but the unit’s real tests will be in the types of substantive cases it handles and whether more countries will join the convention, experts have said. While the China-led International Organisation for Mediation launched on Friday

31 May 2025
0
Would love your thoughts, please comment.x
()
x