8
CONFIDENTIAL
PUBLIC UTILITY COMPANIES
HONG KONG
APPENDIX I.
00
Summary of Net Profits Earned and Dividends Distributed by the Public Utility Companies in Hong Kong in their last financial year, together with an estimate of Net Profits which will be earned in the current financial year if the present level of revenue is maintained, expressed as percentages on:
Present Issued Capital; Present Issued Capital less total Bonus Capital (where known); and Present Issued Capital less Bonus Shares issued since September,1939.
Company.
Basis of Account Royalty to Year Ends Govt.
a
A. Percentage on Issued Capital.
•
Net Profit Dividend Estimated Last Year. Distributed Net Profit Last Year This Year
Be
Percentage on Capital less
to tal Bonus Capital.
Net Profit Dividend Estimated, Last Year. Distributed Net Profit Last Year. This Year
Percentage on Capital less Bonus Shares Issued since September 1939.
Net Profit Dividend Estimated Last Year. Distributed Net Profit]
Last Year. This Year.
H.K.Telephone Co.Ltd. Star Ferry Co.Ltd., H.K.& Yaumati Ferry Co.
H.K.Tramway Ltd.
China Motor Bus Co.Ltd.
Kowloon Motor Bus Co.Ltd.
Gross
Net Profit 31st Dec. 31st Dec. None
31st Dec.
14X
13%
16X
UX
131
16%
MAX
131
16X
171
80
185
342
160
370
171
80
96
nil
125X
96
nil
125X
96
revenue.
Torking
31st Dec.
25X
22 +
40
77 n
66
120
77
2 8
195
nil
125X
66
120
Profit.
cap. bonus
Gross
30th Juna
98
43
125
98
43
125
98
43
125
revenue.
Gross
14th Feb.
117
150
117
60
150
117
60
150
revenue.
Peak Tran. Ltd.
None
31st March.
29
18
45
29
18
45
29
18
45
H.K.& China Gas Co.
None
31st Dec.
16
21
23
36
5
52
16
21/
23
H.K.Electric Co.Ltd.
None
31st Dec.
37
34 +
24X
103
94
44X
62
57
لمدار
China Light & Power Co.Ltd.
None
30th Sep.
31
cap. bous
27
35X
31
27
35X
31
27
351
X Dividend estimated as return on capital increased durin, the year.
NOTES.
a. Some companies have issued or are about to issue additional capital (on bonus teras) to finance rehabilitation, while the Gas Co.,is financing
rehabilitation by means of a bank loan at 5%.
b. The burden of rehabilitation costs has fallen unevenly on the companies which have reached different stages in the completion of this work so that the figures given above are not strictly comparable. In particular the China Light & Power Co.,Star Ferry Co.Ltd., and the Bis companies have not yet increased their capital to finance substantial rehabilitation and replacement expenditure.
c. The figures of the present profit level of the Bus companies are very rough estimates.
&. In those cases where a royalty is payable to public funds, the estimated net profit is based on the sum available after payment of royalty.
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CONFIDENTIAL.
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APPENDIX II.
PUBLIC UTILITY COMPANIES.
Reductions in Charges Proposed for Reference
to the Companies.
Hong Kong Telephone Co. Ltd.
No reduction suggested.
Star Ferry Co. Ltd.
First Class Fare :
From 20 cents single to 15 cents single.
о
Third Class Fare : From 10 cents to 5 cents.
Estimated net profit on prosent issued capital if these reductions are put into effect: 80%. (140% if the First Class fares are not
reduccd).
Hong Kong Yaumati Ferry Co, Ltd.
Further enquiries to be made with a view to fare reductions not later than 1st January 1948 (if the Franchise is renewed).
Hong Kong Tramway Ltd.
Monthly Season from $18 to $10: Third Class Fare from 10% to 5% (or re-introduction of Workmen's farcs at this rate between
certain hours).
Estimated Net Profit on present issued capital (less post-war bonus issues) if these reductions are made: 40%.
China Motor Bus Co. Ltd, and Kowloon Motor Bus Co. Ltd.
Both companies have a considerable number of new buses about to be put on the road, and being adapted for two class fares. The introduction of second class faros is roughly estimated by the companies to reduce takings by 15 20%. It is proposed to require the companies to produce route cost of operation state- ments and to review the position at the end of the year.
Peak Tram Ltd.
1st Class
Full Distance from 60% to 406
10
Workmen
1st Class
May Road
from 40% to 30%
:
Full distance from 25% to 20%
: May Road
from 156 to 10¢
Workmen
Estimated Net Profit on present issued capital if these reductions were put into effect : 30%.
It is not proposed to apply the dividend limitation proposals to this Company.
Hong Kong & China Gas Co. Ltd.
From $14 per 1000 cubic ft. $13 per 1000 cubic ft.
for Domestic Supplies and to $12 per 1000 cubic ft. for Industrial Supplies.
The Company is using surplus profits to redeam the bank loan and hopes to reduce it in two to three years when it would reduce charges.
Estimated net profit or prosent issued ra
were put into effect : 120
Hong Kong Electric Co. Ltd.
Bulk Supplies No change. No change.
Power
Lighting
From 35 per unit to 30 o
if those reductions
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