CONFIDENTIAL
- 45
21. INVESTMENT GAINS AND LOSSES
22.
1987
HK$ '000s
1986 HK$'000s
Net gain (loss) on investment
transactions
(147,554)
252,019
Net gain (loss) on year end
revaluation of investments
(778,133)
315,358
Gain on year end revaluation
of gold
131,523
101,648
(794,164)
669,025
EXCHANGE GAINS AND LOSSES
Realised gain (loss)
Unrealised gain
23.
EXCHANGE EQUALISATION RESERVE
1987 HK$'000s
1986 HK$'000s
(353,100)
44,370
9,880,723
6,109,417
9,527,623
6,153,787
=
A transfer to the credit of the reserve of $2,323,704,445.78 being the unrealised gain for the first half of 1987 was ratified at the meeting of the Exchange Fund Advisory Committee held on 6 November 1987. A further unrealised gain of $7,557,017,894.28 in respect of the second half of 1987 has been provided for in the accounts, making a total of $9,880,722,340.06 for 1987. This provision, which includes an unrealized exchange gain of $240,110,527.06 on forward foreign exchange contracts outstanding as at the balance sheet date, (see paragraph (b) of the accounting policies on page 28) is subject to subsequent ratification by the Committee.
CONFIDENTIAL