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The Hong Kong Sports Institute (HKSI) and Hang Seng Bank today jointly hosted the Hang Seng Athlete Incentive Awards Scheme (the Scheme) Presentation Ceremony to award $950,000 in cash incentives to 19 Hong Kong Olympians.

These athletes, who received the cash awards given by Hang Seng, either placed in the top 16 in their respective events or broke Hong Kong records.

Held at the Penthouse of Hang Seng's headquarters, the ceremony was officiated by Dr Eric Li, Chairman of the HKSI; Raymond Or, Vice-Chairman and Chief Executive of Hang Seng Bank and Pang Chung, Hon. Secretary General of the Sports Federation & Olympic Committee of Hong Kong, China.

Dr Li paid tribute to Hong Kong's athletes for their determination to bring pride and honour to Hong Kong. "I'm sure everyone here agrees that the Olympics is a very competitive sporting event and that only the world's top athletes are able to participate. The good performance of Hong Kong athletes during the competition has highlighted our capabilities and competitive spirit to the world," Dr Li said.

Or commended Hong Kong athletes on their dedication to giving their best sporting performances throughout the Games. "I'm really proud to see the tremendous success our Motherland has achieved at the Olympic Games. I also deeply appreciate Hong Kong athletes who have demonstrated their utmost determination and dedication throughout the Games," Or said.

Speaking at the ceremony, windsurfer Chan King-yin, who won the medal race in men's RS:X and finished sixth overall at the Games, extended heartfelt thanks to all Hong Kong's Olympic coaches and for the support local athletes received from the HKSI. "I would like to take this opportunity to thank all the coaches for their support of local sports development, which is crucial for our success at an international level. I am also grateful to both the HKSI and Hang Seng for establishing this incentive awards scheme, which motivates us to work hard and pursue our dream of becoming the best athletes in the world," Chan said.

Table tennis player Ko Lai-chak showed his unparalleled fighting spirit and stunned reigning Olympic champion Ryu Seung-min in the third round of the men's singles. "After winning the first three games, I played in a rather safe way which allowed Ryu to fight back in the following two. I then regrouped myself and finally took the decisive sixth game for the victory. I've already reached my goal for the singles event by defeating the reigning champion and advancing to the top eighth. I hope my team's performance can encourage more young people in Hong Kong to participate in table tennis and take it to the next level," Ko said.

Athletes who placed between fourth and 16^th in individual and team events were awarded HK$50,000 and HK$100,000 respectively, while those breaking Hong Kong records received HK$20,000 each.

Sponsored by Hang Seng Bank since 1996, the Scheme aims to encourage and recognise outstanding achievements of Hong Kong athletes at the Olympic Games, the Paralympic Games, the East Asian Games and the National Games. To date, both Hang Seng Bank and HKSI have together awarded over HK$8.1 million to 104 athletes, including HK$3.76 million to Olympians.

List of Cash Incentives Presented to the 2008 Hong Kong Olympians (PDF)