KMB
九巴服務 日日進步
NOTES ON THE ACCOUNTS
61
11. SHARE CAPITAL
Authorised:
1993
1992
HK$'000
HK$'000
410,000,000 ordinary shares of HK$1 each
410,000
410,000
Issued and fully paid:
403,639,413 ordinary shares of HK$1 each
403,639
403,639
12. RESERVES
Capital reserve
1993
HK$'000
1992
HK$'000
Balance at 1 January and 31 December
2,412
2,412
General reserve
Balance at 1 January and 31 December
17,601
17,601
Profit and loss account
713,265
636,050
13. CONTINGENCY PROVISION – INSURANCE
Balance at 1 January
Provision made during the year
Transfer from/(to) claims payable
Balance at 31 December
733,278
656,063
1993
1992
HK$'000
HK$'000
140,037
128,382
2,534
21,541
3,492
(9,886)
146,063
140,037
This provision, which is based on the advice of an independent actuary, represents amounts set aside annually by the Company to meet 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.