The Vertex developer Twin City Holdings fined HK$770,000 for failing to disclose sales terms

The government said in a statement that Twin City Holdings Limited, developer of the residential project The Vertex in Cheung Sha Wan, was fined HK$770,000 (US$98,100) for failing to disclose details of the payment terms for sales of the project. The company was found to have breached one residential property ordinance, with the violations including failing to disclose price discounts and other financial incentives. The Vertex was previously owned by China Evergrande Group.