Financial Secretary Henry Tang says the Housing Authority's long-term financial health will be heavily burdened and three million public housing tenants will be affected if the Link Real Estate Investment Trust cannot be listed.

Mr Tang said today the authority's plan to divest its commercial properties and carparks has been discussed for 18 months.

He said the public listing will contribute to Hong Kong's image as an international financial centre and the Housing Authority's long-term benefit, adding there has been plenty of opportunity for all sectors to air their views on the issue.

Crucial funds

Mr Tang said the funds raised through the public listing are crucial to the authority's long-term financial health, and said it is inappropriate for certain parties to raise the judicial issue at the last moment.

Mr Tang said this will cast a shadow on the initial public offering and create a very heavy burden on the authority's long-term financial health, adding that three million public housing tenants will be affected.

Mr Tang hopes the initial public offering will be conducted on December 20 as scheduled.