8. INVESTMENT IN SECURITIES
2003 2002
HK$ HK$
Listed investments
Listed securities, at market value
588,000 409,200
9. THE SIR LINDSAY AND LADY RIDE MEMORIAL FUND
In accordance with the resolution at the 2003 Annual General Meeting, The Sir Lindsay and Lady Ride Memorial Fund was established as a separate autonomous fund on 18 December 2003 for the encouragement of scholarship in the field of Hong Kong studies. Following the establishment of this fund, the balance standing to the credit of the former Scholarship Fund, amounting to $109,944, was transferred to the new entity, along with $290,056 of the Society's accumulated funds, making a total transfer of $400,000.
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