12 RESERVES
1990
HK$'000
1989 HK$'000
Capital reserve
Balance at 1st January and 31 st December
2,412
2,412
General reserve
Balance at 1st January and 3 1st December
17,601
17,601
Profit and loss account
499,687
442,896
519,700
462,909
13 CONTINGENCY PROVISION - INSURANCE
NOTES
Balance at 1st January
ON THE
Written back during the year
ACCOUNTS
Transfer from/(to) claims payable
Balance at 31st December
1990
1989
HK$'000
HK$'000
107,100
159,257
(39,134)
1,151
(13,023)
108,251
107,100
This provision represents amounts set aside annually by the Company to meet possible future liabilities which may arise from third party claims in connection with the Company's bus operations and to cover potential losses which may be caused by fire damage to the fleet.
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