HWB.21/5
LETTER
M. Montague Esq.,
B.N.E.C. Asia,
6-14, Dean Farrar Street,
London, S.W.1.
2
Minister of State
Flag "C"
Thank you for your note of 25th October.
I enjoyed my visit to Hong Kong and found it
particularly valuable.
We are aware that Costains are fretting over the
Tunnel delays but gather that this is on personnel and
planning grounds rather than financial.
Details have now been worked out with Hong Kong
officials concerning the governmental guarantees that
E.C.G.D. require and I hope that, as a result, there will
be no difficulty about obtaining agreement in Hong Kong
to this particular requirement. But, as you may know,
the Tunnel Company has not yet been abbe to find the
£1.475 million capital shortfall that was caused by the
main shareholders 'decision to reduce the amount of
capital they were prepared to put up. This money must,
I fear, be found in Hong Kong.