REPORT OF THE AUDITORS
TO THE MEMBERS OF HONG KONG FERRY (HOLDINGS) COMPANY LIMITED
We have audited the accounts set out on pages 12 to 25 in accordance with approved Auditing Standards.
In our opinion, the accounts give a true and fair view of the state of affairs of the company and of the group at 31 December 1989 and of the profit and changes in financial position of the group for the year ended on that date and have been properly prepared in accordance with the Companies Ordinance.
KPMG PEAT MARWICK Certified Public Accountants
Hong Kong, 8 March 1990
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