CONFIDENTIAL
Annex C
:
1.
2.
3.
4.
It is accepted as a general principle that all assets excluding land and buildings, will be transferred to the subsidiary company at net book value. Note 10 gives details of the transfer procedures for land and buildings.
There will be no value attaching to goodwill in respect of any divestiture of assets or services.
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It was agreed that sales invoices currently being issued since 1st January 1983 for non Scheme of Control services in the name of Hong Kong Telephone Co. Ltd. would subsequently be treated as being retrospectively issued on behalf of the subsidiary company, i.e. all competitive operations as agreed with Government would be effective from 1st January 1983 or some other agreed date and book-keeping operations would be handled accordingly.
Having reviewed services which should cease to be subject to the Scheme of Control the following basic asset types have been identified which will require to be transferred to a subsidiary company as and when the service and/or related assets are agreed to be deemed outside the Scheme of Control:-
DATE OF TRANSFER
SUBSCRIBERS APPARATUS
PABX
Data modems
Premium telephones
Others
ECIS
RADIO PAGING
Transmission sites
Computer equipment etc.
Pagers
VIEWDATA
Computer equipment
Software
Terminals
DATEL MESSAGE SERVICE
Computer equipment
Terminals
CONFIDENTIAL
1.7.83
1.1.83
1.1.83
as and when introduced
1.7.84
1.1.83
1.1.83
1.1.83