BANK OF CREDIT AND COMMERCE
HONG KONG LIMITED
NOTES TO THE ACCOUNTS (continued)
7. Reserves (continued)
The Bink
Balance at
beginning of
the year
Surplus arising on
revaluation of
properties within fixed assets
Prior Year Adjustment;
Loin loss provision
brought forward
(se (a) below)
Capital contribution
from ultimate holding company (se (b) below)
(Loss)/profit after
taxation and cividend
ss
1990
HK$000
1989
HK$000
Fetained General Revaluation Capital *arnings reserve
reserve
reserve Total: Total
(464,194) 103,000 60,724
468,000
167,530 127,198
(27,721)
(422,834)
(27,721)
27,721
27,721
1
39.609
(422,834)
723
Balance at the end
of the year
(514,749) 103,OCO
60,724
495,721 (255,304) 167,530
a) Curing 1989, a loan loss provision of HK$27.7 million was booked in the acccunts of the ultimate holding company. This loss is now recognised by the bank in these accourts.
b) The ultimate holding company has mace a capital contribution to enhance the bank's capital base. The capital contribution may be utilized in the futur: for the issue of fully said up bonus ordinary shares.
11
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