METROPOLITAN CAMMELL LIMITED
AHS:ejm/151
Mr J A Gardiner
Chief Executive
The Laird Group Limited 10 St James's Street
LONDON
SW1A 1EF
3 January 1978
Dear John
HONG KONG
We got the order in July 1976 and the position between then and now is shown in the following table:
to buy £1
to buy 1 Yen
to buy 1 D.Mark
@June 1976
MTRC needed
8.4 UK$
0.01€ HK$
1.9 EK$
€ mid-December 1977
MTPC needed
8.5 HK$
0.019 HK$
2.1 HK$
% increase in
cost to MTRC
18
19%
11%
To which has to be
added the cost of
domestic inflation
25%
10%
10%
Total increase in
26%
29%
218
cost to MTRC
Yours sincerely
T.
AH SANSOME
151