SECRET
147214
MDHIAN 7343
THEN IF PRESSED, AS A FALLBACK, WE COULD SAY THAT AN ADDITIONAL WAY OF INCREASING THE RESERVES IN 1996/97 WOULD BE TO LET A FRANCHISE FOR THE LFC BEFORE 1997. ON THIS BASIS WE COULD MOVE TO HKD20 BILLION IN THE RESERVES IN 1997.
7. HOWEVER, YOU SHOULD BE AWARE THAT OUR FORECASTS BEYOND 1997 INCLUDE REVENUE FROM THE LFC, AND THE CHINESE ARE AWARE OF THIS. BUT AS THEY ARE KEEN ON BOTH PRIVATISATION AND CASH IN THE BANK THIS IDEA MAY BE ATTRACTIVE TO THEM.
FORD
YYYY
ΜΑΙΝ
8
NO DISTRIBUTION
HD/HKD
HD/FED
PS
NNNN
DISTRIBUTION
Co
8
PS/LORD CAITHNESS
MR MCLAREN
MR BURNS