關於 financial secretary ，我們在網路上蒐集到這些相關的討論、資訊與評價

TKBB and Amanie Academy Sign MoU to Collaborate in Islamic Finance Human Capacity Building in Turkey

Participation Banks Association of Turkey (TKBB) and Amanie Academy Sdn Bhd (AASB) have signed a Memorandum of Understanding (MoU) to collaborate in areas of Islamic finance professional human capacity building programmes.

The MoU was signed by Mr Osman Akyüz, the Secretary General of TKBB and Datuk Dr. Mohd Daud Bakar, Chairman of Amanie Academy. The signing was witnessed by other key members of TKBB, Dr. Saygın Sungur, the Director, Banking Services, Mr Halis Çelenk, Head of HR and Training, Ms Fatma Çınar, the Head of International Relations and Corporate Communications and Ms Yasmin Yusof, CEO of Amanie Academy.

During the 12th International Conference on Islamic Economics and Finance in Istanbul, June 2020, President Recep Tayyip Erdoğan, President of Turkey has said that Participation banking and utilization tools of Islamic finance and economics will provide a solid, sustainable and structural alternative to the existing financial system laden with crises. With newly built financial centre, Istanbul will also make it a leader in the sector, given its geostrategic advantage.

This collaboration between TKBB and Amanie Academy is aiming to position Tukey as the Islamic Finance Hub by providing the professional human capacities development programmes and platforms for the interest of Islamic Finance growth in Turkey. Turkish Islamic banks' or also termed as the participation banks’ share of the banking sector is growing and the "segment growth has consistently outpaced that of conventional banks in recent years despite heightened market volatility.

Read more at: http://www.malaysian-business.com/index.php/wordpress/item/4394-tkbb-and-amanie-academy-sign-mou-to-collaborate-in-islamic-finance-human-capacity-building-in-turkey

【現場直播｜Live】 二零二一年度第五次評議會緊急會議｜The 5th Ordinary Ordinary Council Meeting, Session 2021

Date: 28th June 2021 (Monday)

Time: 19:00 –
Venue: Union Council Chamber UG201, Union Building

Link: https://youtu.be/tEOa5vtKlS8

Section A
1. To read out the correspondences
2. To receive maiden speeches of new Council members
3. To report the motions carried by circulation
4. To receive and adopt the agenda
5. To receive and adopt the minutes of previous Meetings

Section B
1. Questions put to the Union Executives, other Councillors, other Official Observers,
Council Committees, or Union sub-organisations
2. To receive annual reports of Council Standing Committees, Session 2020
a. Union Finance Committee, HKUSU Council, Session 2020
b. Union Election Committee, HKUSU Council, Session 2020
3. To receive annual reports of Union Executives, Session 2020
a. President
b. Financial Secretary
c. President of Sports Association
4. To receive the report of Council Committees ad hoc
a. Orientation Affairs Committee, HKUSU Council, Session 2020
b. Tendering Committee of Notebook Ownership Program 2020, HKUSU Council,
Session 2020
c. Annual Election Commission 2021, HKUSU Council, Session 2020
5. To discuss amendment to the Internal Regulation of HKUSU
6. To discuss amendment to the Financial Regulation of HKUSU
7. To discuss matters related to the Electoral Subsidy of Union By-election 2021
8. To receive and adopt the Union Budget, Session 2021
9. To Enact the Orientation Regulation 2021
10. To enact the Orientation Arbitration Regulation 2021
11. To endorse statements issued by Council Committees
12. Any Other Business

【優勢與獨特性強的港鐵】

香港鐵路有限公司
MTR CORPORATION LIMITED

股票代號：0066
股息率：2.8%
市值：$2700億
業務類別：公共運輸
集團主席：歐陽伯權
主要股東：The Financial Secretary Incorporated (75.2%)
集團網址：http://www.mtr.com.hk

5年業績
年度：2016／2017／2018／2019／2020
收益（億）：452／554／539／545／425
投資物業重估（億）：8.1／63.1／47.5／13.7／-91.9
盈利（億）：103／168／160／119／-48.1
每股盈利：1.74／2.83／2.64／1.94／-0.78
每股股息：3.27／1.12／1.20／1.23／1.23

--企業簡介--

港鐵主要經營以下核心業務：香港、中國內地和數個主要海外城市的鐵路設計、建造、營運、維修及投資；與鐵路及物業發展業務相關的項目管理。

香港鐵路網絡內的車站商務，包括商舖租賃、列車與車站內的廣告位租賃，以及協助電訊商於鐵路沿線提供電訊服務。

港鐵亦有從事香港及中國內地的物業業務，包括物業發展及投資、投資物業（包括購物商場及寫字樓）的物業管理及租賃管理，以及投資於八達通控股有限公司。

在上述的盈利數字中，見到港鐵2020年度出現虧損，但這只是來自「物業重估」的虧損數產生，這只是一個會計上的數字如果考慮盈營上的盈利，港鐵是有盈利的。

【圖1】--港鐵盈利結構

--港鐵的獨特優勢--

港鐵是一間擁有獨特優勢的企業，無論是鐵路經營權的壟斷、沿線物業的發展、物業地段優勢、獨有角色、市場化的效率提升，都令港鐵成為一隻優質股。

港鐵以鐵路加物業綜合發展模式運作，以此營運方式在香港運作多年，並創造出巨大價值，多個大型物業項目均由港鐵發展，如德福花園、杏花村、青衣城、東薈城、奧海城等。由於港鐵具獨有優勢，故長遠發展必然有利。

2007年，港鐵與九鐵合併，成為香港鐵路系統的壟斷者，並佔香港專營公共交通工具市場約半。由於港府的未來發展藍圖將更依靠鐵路，故長遠港鐵的佔有率只會有增無減。

【圖2】--香港各種交通工具市佔率

另外，港鐵在沿線上蓋的物業發展權擁有很大優勢，當然每次都要商談，以及有不同的條款模式，這是由於政府都支持港鐵以鐵路加物業的模式運作。

這源於發展鐵路的資本龐大，政府往往會以不同的方式去「資助」港鐵持續發展，而每次形式都不同，例如西港島線就不涉及沿線物業發展權，這是由於沿線地點是已經發展的地區，政府根本無法給予發展權，而政府最後則以現金$127 億給予港鐵，作為另一種形式的財務資助。

而南港島線（東段），政府則向港鐵批出黃竹坑用地的物業發展權，作為項目的財務資助，令港鐵以鐵路加物業的綜合發展模式進行。香港地少人多，在香港發展物業當然有巨大利潤，而在地鐵站上蓋這麼便利的地方發展物業，價值就更為巨大了，故港鐵所獲得的利潤可想而知。

【圖3】--黃竹坑地盤

【圖4】--黃竹坑車站及地盤位置

--價值甚高的黃竹坑地--

大家請細心睇【圖4】黃竹坑的位置。

在未有鐵路前，位於南區的黃竹坑，方便程度的確一般，但當鐵路通車後，這個地方距離金鐘只是2個地鐵站，距離中環只是3個地鐵站，由於愈近商業區的位置價值就愈高，黃竹坑這地，價值絕對不少。

黃竹坑過往是工業區，有很多工廈，但現時很多工廈已重建，變身成商廈。

另外，一個住宅區的價值，除了近商業區的程度、交通方便的程度外，人口密度亦是其中一個考慮因素，太密集的地區，休憩用地相對較少，樓價自然不會高。但大家細看黃竹坑的地圖，附近有不少球場，有運動場，海洋公園就有旁邊，同時整個區的大廈並不是密密麻麻，而是有一定的山與海，可見樓價一定不差。

大家再看看地圖左下方，會見到有多間國際學校，同時更鄰近「深灣遊艇會」，價值可想而知，從這些資料已能推斷，港鐵在當中得到的利益，絕對不少。

最近開始有樓盤發售，呎價高達30000，可見當中的價值，以及利益所在。

--運輸＋物業--

分析港鐵的收入部分，港鐵多年來的收入都有不錯增長，而預期往後亦能以平穩增長去形容；雖然客運部分的收入增長有限，但隨著將來有不同的線路落成，這方面相信能平穩向好。

除香港外，港鐵亦有向外發展，當中的中國業務發展快速。港鐵在北京、深圳均有業務，而中國部分所貢獻的收入已佔不少。

不過，中國業務在經營利潤的貢獻，所佔比例相對仍未算多，主要由於中國業務的開支頗大，令其賺錢能力受到影響。由於港鐵在中國營運的時間仍少，故仍要一點時間後才能改善。

港鐵的經營利潤數字略為波動，這是由於經營利潤包括物業發展部分，而這部分難免比較波動。由於物業銷售較波動，故不會以一兩年就作推論，所以當港鐵出現某一年賺較多或賺較少，並因此而出現較低或較高的市盈率，也不能就此下定論平或貴，要分析內裡盈利的組成，以及要用長期角度去分析。

若以長期趨勢看，因香港在交通及房屋的發展，將會更依賴鐵路發展及相關物業，故無論是運輸還是物業發展部分，港鐵將來仍是很看好。

而港鐵的盈利並不太穩定，這是因為盈利中包含投資物業重估數字，故必然受牽引及較為波動，當然，若香港的固定資產價值回落，將對此有所影響，不過這部分並沒有產生實質現金流的影響，故不用太著眼。

股息方面，可說是平穩增長，2015年、2016年因鐵路超支而用財技方法派特別股息，令該年股息大增，往後相信難以再出現。順帶一提，在港鐵超支但政府包底的事件中，大家可看到港鐵的盈利保障程度很高，這對小市民未必是好事，但作為投資者，這就是理想的優質股。

港鐵發展的住宅項目，大多以出售為主。而在香港的投資物業組合中，則以商場及寫字樓為主，故當然會產生理想的租金收入。

【圖5】--港鐵擁有、發展、管理的物業

ROE 方面則大致約在10%，只屬一般的水平，這是由於港鐵本身的資產龐大，例如鐵路系統，當中所能創造的回報率不高，鐵路的客運業務賺錢能力有限，而由於當中資產龐大，故必然令ROE 受拖累，此部分的再投資回報率必然不高。

不過，鐵路系統是重要的一環，因這是創造高利潤的地產項目的先決條件。由於以鐵路加物業綜合發展模式運作，故將來的ROE 亦只會是相約水平。

--投資策略--

綜合而言，由於港鐵有獨有優勢，而且在長遠仍有發展空間，雖不會有太快的增長，但平穩發展絕對沒有問題，故港鐵絕對是優質的企業。

更重要的是，香港的長遠發展必然是向著新市鎮，鐵路系統必不可少，故將來對鐵路的依賴必愈來愈多，政府亦表示這會是發展的重點，故無論是鐵路以及相關的物業，都會保持增長，長遠計必然向好。

雖然港鐵在多方面都甚為理想，但由於再投資的回報率一般，故發展只能平穩，由於城市發展、鐵路與物業都是很長期的項目，故中短期港鐵增長動力只會一般，因此投資必然是長期或超長期的，因為港鐵的長期發展力仍在。

現時港鐵的股價，大約在合理區中間位。股票班同學要留意，當你進行這股的估值時，要將物業重估因素拆走，同時，若果運用過往的市盈率數據，要調整過往數字，因為過往市盈率的盈利部分，包了物業重估，需要調整才是真實數字。

這股有長線投資的價值，雖然不是高增長類，但有不差的股息，以及有平穩增長能力，適合中低風險類的投資者。

（本人為證券業持牌人士，未持有上述股票）

【現場直播｜Live】 二零二一年度第四次評議會緊急會議｜The 4th Ordinary Ordinary Council Meeting, Session 2021

Date: 1st June 2021 (Tuesday)

Time: 19:00 –
Venue: Union Council Chamber UG201, Union Building

Section A
1. To read out the correspondences
2. To receive maiden speeches of new Council members
3. To report the motions carried by circulation
4. To receive and adopt the agenda
5. To receive and adopt the minutes of previous Meetings

Section B
1. To receive the Union President’s Address
2. Questions put to the Union Executives, other Councillors, other Official Observers,
Council Committees, or Union sub-organisations
3. To appoint chairpersons Council Committees, HKUSU Council, Session 2021
4. To appoint members of Council Committees, HKUSU Council, Session 2021
5. To appoint Acting Union Executives, Session 2021
6. To discuss disciplinary matter of the Union Council, Session 2020
7. To receive annual reports of Council Standing Committees, Session 2020
a. Current Affairs Committee, HKUSU Council, Session 2020
b. Union Finance Committee, HKUSU Council, Session 2020
c. Union Election Committee, HKUSU Council, Session 2020
8. To receive annual reports of Union Executives, Session 2020
a. President
b. Vice-President (External)
c. Financial Secretary
d. Student Welfare Secretary
e. Administrative Secretary
f. President of Cultural Association
g. President of Independent Clubs Association
h. President of Sports Association
9. To receive the annual reports of Popularly Elected Union Councillor, Session 2020
a. Popularly Elected Union Councillor I
10. To receive the annual reports of Campus Media, Session 2020
a. Campus TV, HKUSU
11. To receive the report of Council Committees ad hoc
a. Orientation Affairs Committee, HKUSU Council, Session 2020
b. Tendering Committee of Notebook Ownership Program 2020, HKUSU Council,
Session 2020
c. Tendering Committee of Union Building Shop, HKUSU Council, Session 2020
d. Annual Election Commission 2021, HKUSU Council, Session 2020
12. To discuss recommendations from the Council Business Committee
13. To discuss the affiliation status of Science Society, HKUSU
14. To endorse statements issued by Council Committees
15. Any Other Business

【現場直播｜Live】 二零二一年度第二次評議會常務會議｜The 2nd Ordinary Council Meeting, Session 2021

Date: 28th March 2021 (Sunday)
Time: 14:00 –
Venue: Union Council Chamber UG201, Union Building

Agenda
0. Meeting call to order and sing the Union Song
Section A
1. To read out the correspondences
2. To receive maiden speeches of new Council members
3. To report the motions carried by circulation
4. To receive and adopt the agenda
5. To receive and adopt the minutes of previous Meetings
Section B
1. To receive the Council Chairperson’s Address
2. Questions put to the Union Executives, other Councillors, other Official Observers,
Council Committees, or Union sub-organisations
3. To nominate and appoint student members for University Committees
4. To appoint members of Council Committees, HKUSU Council, Session 2021
5. To appoint acting Union Executives of Session 2021
6. To receive annual reports of Union Executives, Session 2020
a. President
b. Vice-President (Internal)
c. Vice-President (External)
d. Financial Secretary
e. University Affairs Secretaries I
f. Student Welfare Secretary
g. Administrative Secretary
7. To receive the annual reports of Popularly Elected Union Councillors, Session 2020
a. Popularly Elected Union Councillor I
8. To receive the annual reports of Campus Media, Session 2020
a. Undergrad, HKUSU
b. Campus TV, HKUSU
9. To endorse statements issued by Council Committees
10. Any Other Business

The 3rd Ordinary Council Meeting | 二零二零年度第三次評議會常務會議

Date: 23rd September 2020 (Wednesday)
Time: 19:30 –
Venue: Union Council Chamber UG201, Union Building

Agenda
0. Meeting call to order and sing the Union Song

Section A
1. To read out the correspondences
2. To receive maiden speeches of new Council member
3. To elect the Chairperson of Union Council
4. To elect the Honorary Secretary of Union Council
5. To receive and adopt the agenda
6. To report motions carried by circulation
7. To receive and adopt the minutes of previous Meetings

Section B
1. To receive resignation of Council Committee members
2. To appoint members of Council Committees, HKUSU Council, Session 2020
a. Current Affairs Committee
b. Union Finance Committee
c. Council Business Committee
3. Questions put to the Union Executives, other Councillors, other Official Observers, Council Committees, or Union sub-organisations
4. To consider resignations of Undergrad, HKUSU
5. To consider recommendations from Working Group on Union Restructuring 2019
6. To review affiliation status of sub-organizations
7. To hear appeals on Orientation Affairs, if any
8. To receive report of Orientation Affairs Arbitration Committee, HKUSU Council, Session 2020
9. To receive the half-yearly Report of Union Executives, Session 2020
a. President
b. Vice-President (Internal)
c. Vice-President (External)
d. Financial Secretary
e. University Affairs Secretary I
f. Student Welfare Secretary
g. Administrative Secretary
10. To receive the half-yearly report of Campus Media, Session 2020
a. Undergrad, HKUSU
b. Campus TV, HKUSU
11. To receive the half-yearly report of Popularly Elected Union Councillor
12. To receive the half-yearly report of Standing Committees, Session 2020
a. Current Affairs Committee
b. Union Finance Committee
c. Constitution Review Committee
d. Council Business Committee
13. Any Other Business

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