MONDAY, JANUARY 17, 1983
HOWEVER, LOOKING AT THE PAST PERFORMANCE OF THE COMPANY HE WAS MORE OPTIMISTIC AND FOUND IT DIFFICULT TO THINK THAT AN ORGANISATION WITH SUCH A PROUD RECORD AND PRESENT ACHIEVEMENTS WOULD NOT ACCOMMODATE ITSELF TO CHANGING NEEDS AND CONDITIONS AND CONTINUE ITS SUCCESS INTO THE FUTURE, MR TODD SAID.
+ IN RECENT YEARS WE HAVE SEEN IMPRESSIVE INCREASES IN THE STANDARD OF THE COMPANY'S ACTIVITIES, WITH IMPROVED VESSELS INCLUDING HOVERFERRIES, PROVIDING MORE FREQUENT AND FASTER SERVICES, HE SAID.
+THERE HAS ALSO BEEN AN INCREASE IN THE SCOPE OF THESE SERVICES, WHICH NOW GO TO MORE DESTINATIONS, AN EXPANSION OF WHICH PERHAPS THE MOST NOTABLE FEATURE HAS BEEN THE INTRODUCTION OF DIRECT FERRY LINKS TO CHINA,+
THE FERRY SERVICES THEMSELVES WERE ONLY PART OF THE PICTURE AND THEIR GROWTH HAD BEEN ACCOMPANIED BY INCREASES IN THE COMPANY'S MAINTENANCE, ENGINEERING AND CONSTRUCTION CAPACITY, HE ADDED.
+THIS HAS LED TO THE GROWTH OF THE SHIPYARD IN WHICH WE ARE STANDING TODAY AND WHICH I BELIEVE IS TO BE FURTHER EXTENDED,+ HE SAID.
MR LAU ALSO SPOKE OF THE GOVERNMENT AND THE COMPANY HAVING REACHED AN IMPASSE OVER FERRY PIER DEVELOPMENT.
+WE HAVE OUR DISAGREEMENTS IN THE PAST AND THERE HAVE BEEN OTHER OCCASIONS WHEN IT SEEMED THAT OUR NEGOTIATIONS HAD REACHED A STALEMATE, BUT WITH GOODWILL ON BOTH SIDES WE HAVE BEEN ABLE TO COME TO AN AGREEMENT, MR TODD SAID.
+1 AM SURE THAT IN THIS CASE ALSO WE WILL BE ABLE TO WORK OUT A SOLUTION WHICH WILL TAKE ACCOUNT OF BOTH THE COMPANY'S NEEDS AND THE PUBLIC INTEREST.+
REGISTRATION OF TWO DEPOSIT-TAKING COMPANIES REVOKED
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THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES ANNOUNCED THAT HE HAS TODAY (MONDAY) REVOKED THE REGISTRATION OF TWO DEPOSIT- TAKING COMPANIES. THE IR NAMES ARE WHITEHALL FINANCE LIMITED AND AMERICA AND PANAMA FINANCE COMPANY LIMITED.
THE REVOCATION OF THE REGISTRATION OF WHITEHALL FINANCE LIMITED FOLLOWS THE SUSPENSION OF ITS REGISTRATION TWO WEEKS PREVIOUSLY, ON THE GROUND THAT THE COMPANY HAD FAILED TO MAINTAIN THE MINIMUM LEVEL OF SPECIFIED LIQUID ASSETS REQUIRED BY LAW DURING NOVEMBER 1982.
THE REGISTRATION OF AMERICA AND PANAMA FINANCE COMPANY LIMITED HAS BEEN REVOKED ON THE GROUND THAT IT APPEARS TO THE COMMISSIONER THAT THE COMPANY IS NOT A FIT AND PROPER BODY TO REMAIN REGISTERED.
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