20. Contingent liabilities
a. Guarantees have been executed in respect of
banking facilities available as follows:
To subsidiary companies
To associated companies
To others
Company 1985
HK$Millions
Company 1984 HK$Millions
Group 1985 HK$Millions
500.0
Group 1984 HK$Millions
92.5
100.0
30.0
30.0
b. At 31st December, 1985, there were contingent liabilities in respect of other guarantees and bills discounted
by subsidiary companies amounting to HK$12.3 million (1984 - HK$23.5 million).
21. Capital commitments
In addition to the amounts provided for in the accounts as at 31st December, 1985, there were Group capital commitments, being expenditure on fixed assets, as follows:
a. Contracted for:
i. Container terminal expansion
HK$95.0 million (1984 HK$103.8 million).
ii. Other fixed assets — HK$245.4 million (1984 – HK$92.2 million).
b. Authorised but not contracted for:
i. Container terminal expansion
wwwww.te
HK$1,748.6 million (1984 - HK$143.8 million).
ii. Other fixed assets - HK$901.2 million (1984 HK$1,253.7 million).
22. Subsequent event
Since 31st December, 1985, the Group has sold a property known as 6M Bowen Road/Horne Mansion realising an extraordinary profit of HK$64.9 million.
23. US dollar equivalents
The US dollar equivalents of the figures shown in the accounts have been translated at the rate of HK$7.81 to US$1, being the rate at 31st December, 1985.
24. Comparative figures
Certain comparative figures have been restated to conform with the current year's presentation.
25. Approval of accounts
The accounts set out on pages 30 to 45 were approved by the board of directors on 2nd April, 1986.
42
HUTCHISON WHAMPOA LIMITED