Highlights

The Wang Fuk Court fire disaster, which occurred on 26 November 2025, was an exceptionally serious incident. With a death toll of over 160, it far exceeded the threshold of 30 for a Particularly Major Accident (特别重大事故), which is the highest classification level outlined in China’s Emergency Response Law (2007). Government officials found to be responsible may face dismissal and possible criminal prosecution on the Chinese mainland. The Bar Association has called for bid rigging to be criminalized, arguing that fines under the current Competition Ordinance (Cap. 619) are not enough. To put the wrongdoers into jail, ICAC intervenes as bid rigging often involves corruption.  However, the ICAC has experienced many difficulties in the investigation and prosecution of corruption in bid rigging.  In the worst case, Department of Justice advised ICAC not to prosecute for insufficient evidence after investigation actions. Prevention is better than cure. Fostering perfect competition in the building renovation sector is the key to eliminating bid rigging malfeasance.

This webinar will address the key factors, including the identification of renovation contractor syndicates and the systemic failure indulging bid rigging in the building renovation sector. Other discussion items include the lack of competitive market structure, in pursuance of the economic theory of perfect competition, in the building renovation sector and strategies for fostering perfect competition. Additionally, insurance companies, as financial stakeholders in the building renovation sector, have a key role to play in disaster prevention. If the systemic defects are not addressed, similar disasters are likely to be repeated. In 2025 alone, approximately 10 fire incidents broke out at building renovation sites in Hong Kong.

Once the syndicates involved in bid rigging in building renovation sector are identified, it will fall to the executive branch of the HKSAR government to dismantle them and implement necessary reforms in building renovation, including structuring a competitive market to eradicate bid rigging in the building renovation industry.

Speaker(s)

Mr. Godwin Ng
Mr. Godwin Ng has 20 years of experience as a Barrister-at-Law in practice, specializing in tax and civil matters and 40 years as a Certified Public Accountant (CPA). His extensive experience includes personal injury claims in work-site accidents. He is a regular speaker of tax and other related topics of public interest, such as budget proposal, public finance and ageing problems in Hong Kong. In service to the community, Mr. Ng held the position of Vice President of the Taxation Institute of Hong Kong previously. He holds an LLB from the University of London, a PCLL from the University of Hong Kong, and an MBA (Financial Services) awarded jointly by the Universities of Wales and Manchester.

Chairman: Dr. Webster Ng Kam-wah, JP 
Being the proprietor and founder of Webster Ng & Co., Managing Director of AC CPA Limited and Senior Partner of Uniontax (Shenzhen) International Tax Agent Firm Co. Ltd, Mr. Ng is a Fellow Certified Public Accountant (Practising), Chartered Tax Adviser and Registered Six Sigma Champion.  He is currently the Independent Non-Executive Director and Chairman of Audit Committee of two listed companies.  Mr. Ng is a member of the Sixth Election Committee (Accountancy), the Advisory Committee Member of Accounting and Financial Reporting Council (AFRC), and the Past President of the Society of Chinese Accountants and Auditors (SCAA), Past President and Advisor of the Taxation Institute of Hong Kong (TIHK), Director of Accountancy Caring Alliance Limited.  Mr. Ng is a member of Tax Policy Committee of the TIHK and has been named as Honorary Council member of the China Certified Tax Agents Association (CCTAA), Research Committee Member of China International Taxation Research Institute and Accounting Consultant of the Department of Finance of Guangdong Province. He has been elected as Eighth Legislative Councillor (Functional Constituency, Accountancy).