NOTES ON THE ACCOUNTS (Continued)
10. ASSETS UNDER CONSTRUCTION, AT COST
Group and company
HK$'000
19,384
HK$'000
Vessels under construction
At 1 January 1988
Additions
Transfer to fixed assets
At 31 December 1988
Property under development
At 1 January 1988 Additions
Transfer to fixed assets
4,920 (24,304)
6,928
18,223
(1,113)
Written off during year
At 31 December 1988
(81)
23,957
23,957
11. INTEREST IN SUBSIDIARIES
Company
1988
1987
HK$'000
HK$'000
Unlisted shares, at cost
Amounts due from subsidiaries
164,108
84,108
47,160
164,108
131,268
Amounts due to subsidiaries
(70,297)
(29,197)
93,811
102,071
TH
Details of the subsidiaries are as follows:-
Ordinary share capital
% held by the
% held by the
Issued ($)
company
group
Principal activities
HYFCO Development Co. Ltd.
12,000,030
100
The Hong Kong Shipyard Ltd.
17,000,000
100
HYFCO Trading Services Co.
Ltd.
4,500,000
100
HYFCO Ferries, Ltd
25,000,000
100
Property investment
Shipbuilding and
repairs Trading and
retailing
Investment holding
HYFCO Properties Ltd.
21,700,000
100
Hotel investment
HYFCO Travel Agency Ltd.
3,000,000
100
The Hongkong and Yaumati
100,000,000
100
Travel business Ferry operations
100
Travel business
Ferry Co. Ltd.
(Formerly Sealink Ferries Ltd.)
Grand Crossing Travel Ltd.
(Formerly Mar Chark Travel
Service Ltd.)
1,350,000
All the above subsidiaries are incorporated and operate in Hong Kong.
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