RR F C O
"GR 255
CONFIDENTIAL
DESKBY 2010C8Z
FM BTC HONG KONG 270913Z NOV 78
TO IMMEDIATE D.O.T
TELNO.CREDA 345 OF 20 NOVEMBER,
INFO D.0.1 (FOR BENJAMIN, IIC), F.C.o.
FOR TWYMAN, OPG.
NO DISTRIBUTION
YOUR CREDA 191 KOWLOON CANTON RAILWAY.
In+ 2 NOT (CRE)
Dyp. R129
нит
HK+ GD
RED (3)
• PUSD(2)
1. I ANTICIPATE NO DIFFICULTY WITH THE FORMULA IN THE REVISED
DRAFT ALTHOUGH WE MAY NEED TO AVOID PROVIDING DIRECT EVIDENCE THAT METRO CAMMELL ARE AWARE OF THE NEED TO REDUCE THEIR PRICE. IF THIS SHOULD PROVE A STICKING POINT PERHAPS WE MIGHT OMIT THE LAST SENTENCE OF YOUR PARA.3 AND ARRANGE FOR THE METRO CAMMELL LETTER TO BE ADDRESSED TO ME.
2. PROMPTED BY SANSOME, I HAVE POINTED OUT TO MY CONTACT THAT THE PRICE QUOTED DOES NOT REPEAT NOT INCLUDE THE COST OF SHIPPING. THIS WAS HIGHLIGHTED IN THE ORIGINAL METRO CAMMELL BID DATED 6 OCTOBER. WE SHALL HAVE TO MAKE THIS CLEAR IN OUR LETTER AND I HOPE THAT IT WILL NOT CAUSE A SERIOUS COMPLICATION. A PRELIMINARY CHECK WITH SAMUELS OF TRANSMARK SUGGESTS THAT THE COMPARISON OF BIDS QUOTED IN MY CREDA 327 INCLUDED ESTIMATES FOR FREIGHT AS REQUIRED BY THE TENDER BUT MY CONTACT HAS ASKED FOR THIS TO BE CONFIRMED AND I FIND THE CONVERSION OF THE STERLING £52.4 MILLION PRICE TO A H.K DOLLAR PRICE OF 500 MILLION UNCOMFORTABLY NEAR THE THE ACTUAL RATE PREVAILING AT THE BEGINNING OF NOVEMBER.
3. I SHALL REPORT AGAIN AS SOON AS I RECEIVE COMMENTS ON YOUR
TEXT AND THE RESULT OF A CHECK ON THE POINT RAISED IN PARA.2.
MARCH
NNNN