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to IHL holders if we want to solve the overall problem of markets. We will consider the question of redevelopment. Some are ‘dead stalls', some locations pose difficulties for business and some facilities are definitely too old. We must therefore study the feasibility of redevelopment. After an overall review of our markets, we will be able to decide which ones can continue to operate and which ones need to be redeveloped or improved.
Finally, I agree with Mr. CHEUNG that loss as recorded in book caused by 'dead stalls' is not simply a question of writing off. Neither is it an administrative issue. Objective factors are there so that certain stalls cannot be leased out or no one wants to choose them. The accounting figures for the loss should be considered permanently irrecoverable. So, in my reply, I have mentioned that the occupancy rate of 85% to 90% is already quite reasonable. It is just impossible to expect a 100% occupancy rate.
MR. CHAN CHO-HI (in Cantonese):—I have a few follow-up questions. First of all, about cost. In paragraph 3 of the reply, rental loss of over $100,000,000 was mentioned. I would like to obtain some figures through the Chairman. If additional cost is incurred for repairing and maintaining the 1000 odd vacant stalls each year, the figure will in fact be much more than $116 million. I would like to have the actual figure from the Chairman of the Select Committee. For example, if we calculate on 90% occupancy rate, how much is the accumulated loss of rental income and other costs? I hope to get an answer from the Chairman after the meeting. That is my first question.
The second question concerns time schedule. In paragraph 5 of the reply, it was stated that the review would be followed up on. I would like to obtain the timetable through the Chairman. What is meant by as soon as possible? Can we have a definite reply?
My third question. Basically, I asked it two and a half years ago. I am not satisfied with point no. 4 of the reply which quotes an old reason. I think we cannot say that the Markets and Street Traders Select Committee did not try in the past two and a half years. The only thing is whether we have done enough. I hope the Chairman of the Select Committee can answer these questions one by one.
MR. IP KWOK-CHUNG (in Cantonese):—I do not understand Mr. CHAN'S last question. He said he had asked it two and a half years ago. What is or was the question? If he can state the question clearly, I shall try to answer it.
The first question concerns costs. As it refers to point (b) of Mr. Stanley NG's question about the total rental loss incurred over vacant stalls in the past three years and I do not have that figure ready in hand. I cannot give it to Mr. CHAN right now. If Mr. Chan so wishes, I can supply him with that figure after the meeting.
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