The present shareholdings of the company are as follows:
China Resources Company
51%
Trafalgar Housing Limited
30%
Cheung Kong (Holdings) Limited Beautyland Limited
10%
5%
Others
4%
Trafalgar Housing Limited will be responsible for project management.
6
An area of 486 hectares (1,200 acres), if developed to the planning standards used in the New Towns, might well have a potential for a population of between 250,000 and 300,000, with supporting industry and other facilities. Such a population would make a substantial impact on both the local and main communication system and a significant demand on water supplies. It is therefore a substantial project.
7
(a)
(b)
(c)
(d)
(e)
The applicationraises the following questions:
Is Government prepared to entertain a major
urban development in the North West New
Territories area, and if so would such a development
be acceptable in Tin Shui Wai?
If so, would such a development carried out by a private developer be acceptable?
If so, is there any objection to the majority shareholding being in the hands of China Resources Company?
Assuming that Government would wish the developers to proceed, or at least has no objections to it, what should now be said to the company?
But also, more broadly, would such a major commitment of construction resources, whether a private or public account,would limit other developments elsewhere, and if so where do the priorities lie?
8
This memorandum deals with the first four of these questions, the last must await the outcome of further Government studies.
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