CONFIDENTIAL

104 1

MDLIAN 9732

PARTNERS AS LESS THAN FIRM. THERE IS NOT MUCH SCOPE FOR CHINESE COMPANIES SWITCHING GROUPS LATER TO QUOTE BACK THE WINNER UNQUOTE SINCE THE RULES OPERATED BY THE HONG KONG GOVERNMENT NORMALLY REQUIRE THAT GROUPS WHICH HAVE PRE-QUALIFIED CANNOT CHANGE THEIR COMPOSITION RADICALLY THEREAFTER.

4. I UNDERSTAND THAT MALWYN JONES AND PROBABLY SIR ROBERT DAVIDSON (CHAIRMAN) AND PRENTICE (DIRECTOR) ARE LIKELY TO BE IN

HONG KONG IN ABOUT THREE WEEKS. PRENTICE HAS ALSO BEEN HERE THIS WEEK. THEY ARE MAKING A COMMENDABLE EFFORT AND ARE FOLLOWING THROUGH AT THE RIGHT LEVEL.

HEAP

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ΜΑΙΝ

20

LIMITED

HKD

FED

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DISTRIBUTION

20

SIR J COLES

2

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CONFIDENTIAL

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