Exhibit 11
RTHKC FINANCIAL PROJECTIONS
1990 HK$ millions*
395
385
15
15
310
300
30
555
380
370
280
245
00
Commercial revenue
Government subvention
% change
1990/91 - 96/97
24% reduction
in expenditure
267% increase in
revenue
36% reduction in required
Government
subvention
Key
Determinants:
-
•
•
1990/91
High capital
expenditures
Transmitter EFP
equipment
1991/92
High capital expenditures
Most staff changes occur in December 1991
Improved work standards Changes in organisational
structure
A
1992/93
New staff level in effect for full year Improved
commercialisation
efforts
Reduced-capital expenditures
1996/97
Continued improvement in work standards Increased
commercialisation
revenues
* Excludes redundancy payments and additional staff costs during transition management; assumes relaxed sponsordhip regulations
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