CONFIDENTIAL
FM DTI
TO IMMEDIATE BTC HONG KONG
TELNO INTRA 55
OF 07140OZ FEBRUARY 92
CONFIDENTIAL
29
075347
MDHIAN 2259
copies ber
PR
HKA 182/3
NC TE
Fle
FOR HEAP FROM ROGERS, PEP
AIRPORT PROJECT
ALL
WE DULY SAW THREE VISITORS FROM HONG KONG THIS WEEK. THREE MEETINGS WENT WELL. LITTLE THAT FOLLOWS WILL BE NEW TO YOU, BUT IT IS WORTH RECORDING ONE OR TWO POINTS.
2.
ROGERS SAW ROGER MOSS ON 5 FEBRUARY: PENTECOST OF ECGD WAS ALSO PRESENT. MOSS GAVE A BULLISH ACCOUNT OF PROSPECTS, STRESSING THE MTR'S REMARKABLE TRACK RECORD AND CREDIT RATING. HE WAS OF COURSE WELL AWARE OF THE UK FIRMS WHO WOULD HAVE A PARTICULAR INTEREST IN THE RAIL LINK: BALFOUR BEATTY AND GEC/ALSTHOM (MET CAM) WERE PARTICULARLY MENTIONED. HE WAS VERY CLEAR THAT THERE WAS NOTHING THAT UK FIRMS NEEDED TO BE DOING AT THE PRESENT TIME BEYOND KEEPING IN GENERAL CONTACT AND BEING READY TO RESPOND SWIFTLY AT THE RIGHT TIME. WITHIN TWO OR THREE MONTHS THE MTR WOULD BE PUBLISHING ITS DETAILED PROPOSALS AND THEY WOULD SET OUT VERY CLEARLY THE PROPOSED WAY FORWARD AND THE TIMESCALE ASSOCIATED WITH IT.
3. RICHARD ALLEN CALLED ON MR SAINSBURY ON 6 FEBRUARY, CONTINUING AFTERWARDS WITH HALL AND ROGERS IN A MEETING AT WHICH ECGD WAS ALSO REPRESENTED. HE GAVE A GOOD ACCOUNT OF PROGRESS. HIS CURRENT FOCUS IS CLEARLY ON DISCUSSIONS WITH THE HKG AND ON THE COMPLETION OF HIS DETAILED BUSINESS PLAN. THIS WOULD BE FINALISED BY THE AUTUMN, AND WOULD SET OUT THE COMPLETE PROGRAMME UP TO 1997.
4. ALLEN IS CONCERNED THAT THE PAA WILL BE QUOTE LAST IN THE QUEUE QUOTE AFTER THE MTR AND CLP WHEN IT COMES TO THE LARGE VOLUME OF BORROWINGS ETC WHICH WILL BE REQUIRED IN HONG KONG OVER THE NEXT FEW YEARS. HE KNOWS HIS BUSINESS PLAN WILL BE SUBJECTED TO PARTICULAR SCRUTINY: AND HE IS KEEN THAT THE PAA SHOULD TAKE OVER KAI TAK AS SOON AS POSSIBLE (PROBABLY IN MID- 1993) SO THAT THEY ARE ABLE TO POINT TO PRACTICAL OPERATIONAL EXPERIENCE OF RUNNING AN AIRPORT. IN THIS CONTEXT THERE WAS
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CONFIDENTIAL