人
HONG KONG (HK$14.545 £1)
70
69
The Hong Kong Building & Loan Agency Ltd
(1)
Issued share capital is HK$10m (1970 HK$6m)
of which CDC holds 221%, Government of Hong Kong
224% and four banks operating in Hong Kong the
remaining 55%. The company has also raised
HK$34.4m in loans from its shareholders (CDC
HK$11.09m at 31.12.71) and has issued 5-year notes
guaranteed by Hong Kong Government to the value of
HK$82m.
(2)
The Agency provides mortgage loans to help
middle-income borrowers to purchase flats on long
leases, principally in specific developments.
It had
a very active year: 2,367 loan applications were approved (1970 1,651) for HK$83.53m (1970 HK$51.2m);
mortgage asset at 31.12.71 was HK$141.1m (1970
HK$105.4m), at which date there were 5,907 active
mortgage accounts (1970 4,639).
(3) Net profit for the year after tax was HK$2.68m
A dividend of 121% was paid
(1970 HK$1.51m).
(1970 10%)