Fung Tak Estate Votes Mitsubishi for Elevator Project

The Nine Bids and Winning Percentage

Nine companies submitted bids for the estate’s elevator replacement project, with total prices ranging from just over 26 million to more than 36 million HKD. Tai Yat Elevator (Hong Kong) Company Limited entered the second-lowest bid at 26,580,000 HKD, sitting only 56,000 HKD above the cheapest offer from Schindler (Hong Kong) Limited. Mitsubishi Elevator Hong Kong Company Limited submitted the third-lowest bid at 28,689,000 HKD. When the owners voted at the afternoon meeting, Mitsubishi secured 55,302 ownership shares, translating to a 93.71 percent majority. Tai Yat received 78 shares, or 0.13 percent of the total, while current contractor Schindler garnered 582 shares, or 0.99 percent.

Urban Renewal Authority Warning on Tai Yat

Before the vote, Urban Renewal Authority representatives repeatedly warned residents that choosing Tai Yat would disqualify the estate from receiving funding under the Optimized Lift Subsidy Scheme. The warning followed serious engineering errors discovered by the Electrical and Mechanical Services Department during Tai Yat elevator replacement work, which prompted an ongoing investigation and the suspension of the company’s performance rating. Reference materials provided at the meeting showed the EMSD rating for Tai Yat marked with a suspension note, while Mitsubishi held a five-star rating.

Housing Authority Shareholding and Resident Decisions

The Housing Authority, holding approximately 12 percent of the estate’s ownership shares, sent representatives to attend and vote at the owners’ meeting. Because Mitsubishi was the only bidder to exceed a 12 percent share of the vote, hk01.com reported that the Housing Authority also cast its ballots for the Japanese-backed firm. Resident Ms. Lee attended the meeting specifically to vote against Tai Yat and Schindler, citing dissatisfaction with frequent post-replacement breakdowns from the current contractor. Another resident, Ms. Yeung, chose Mitsubishi for its top-tier government rating and reasonable price, though she questioned why Tai Yat still attracted 78 shares from voters unfamiliar with the engineering background.