As feshadowed in my minute of 25 January the Committee approved Wharf and some associate companies (World International, Wheelock Marden and World Wide Shipping) as qualifying under the criteria set out in the attachment. All subsidiary companies which are more than 50% owned will also qualify.
(b)
Hutchison
The Hutchison Group had claimed eligibility for Cheung Kong Holdings, Hutchison Whampoa, Cavendish International and Hong Kong Electric, all of which are substantially owned by Li Ka Shing and all interlinked. The Committee have accepted Hutchison Whampoa and Hong Kong Electric on criteria shown in the attachment. Cavendish and Cheung Kong Holdings were not however judged to fully meet any of the criteria and have been rejected.
(c) Mass Transit Railway and Kowloon and Canton Railway
The companies were not judged to fully meet the criteria and have been rejected.
(d) Hong Kong and China Gas
A decision was deferred pending the receipt of additional information on shareholdings.
Next Steps
Subject to the Minister's approval, the additional names will be added to the list of British undertakings being submitted to the Governor for agreement. As soon as his agreement has been obtained, the list will be published. A subsequent list will be published later which will include the remainder of the difficult cases deemed to qualify and also companies not previously known to the Committee which emerge both from application forms so far received and from direct appeals by companies who have noted that they were not included in the first list.
lllion
WAYNE LEWIS