FRIDAY, MARCH 30, 1984
GOVERNOR TO JOIN DELEGATION IN PEKING
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FOLLOWING THE FCO'S ANNOUNCEMENT ON SIR GEOFFREY HOWE'S FAR EAST TOUR, A GOVERNMENT SPOKESMAN CONFIRMS THAT THE GOVERNOR, SIR EDWARE YOUDE, WILL REMAIN IN PEKING AFTER THE 12TH ROUND OF TALKS ON APRIL 11 AND 12, TO JOIN SIR GEOFFREY'S DELEGATION.
SIR EDWARD WILL RETURN TO HONG KONG WITH SIR GEOFFREY ON APRIL 18.
GOVERNMENT BOND TENDER FORMS OUT MONDAY
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ONE BILLION DOLLARS WORTH OF HONG KONG GOVERNMENT BONDS WILL BE OFFERED FOR SALE BY TENDER.
TENDER FORMS WILL BE AVAILABLE FROM MONDAY (APRIL 2) AND SHOULD BE RETURNED ON MONDAY (APRIL 9).
THESE HONG KONG DOLLAR DENOMINATED BEARER BONDS HAVE A FACE VALUE OF $50 000 AND A TERM OF FIVE YEARS AND WILL ATTRACT INTEREST AT 10 PER CENT PER ANNUM. THE MINIMUM PRICE AT WHICH TENDERS WILL BE CONSIDERED IS $49 000 FOR EACH BOND.
IT IS INTENDED THAT THE NET PROCEEDS FROM THE SALE BE TRANSFERRED TO THE CAPITAL WORKS RESERVE FUND FOR THE PURPOSE OF PRODUCTIVE CAPITAL INVESTMENT, SUCH AS THE BUILDING OF SCHOOLS, ROADS AND HOSPITALS.
THE PROPOSAL TO ISSUE THESE BONDS WAS ENDORSED BY THE LEGISLATIVE COUNCIL ON MARCH 14. IN MAKING THE PROPOSAL, THE FINANCIAL SECRETARY NOTED THAT THE ISSUE WOULD PROVIDE AN OPPORTUNITY FOR INVESTMENT IN THE FUTURE OF HONG KONG.
A GOVERNMENT SPOKESMAN SAID TODAY THAT THE BONDS WOULD BE ATTRACTIVE TO THE DEPOSIT-TAKING INSTITUTIONS AS WELL AS THE GENERAL PUBLIC.
HE SAID: THEY RANK AS LIQUID ASSETS UNDER THE BANKING AND DEPOSIT-TAKING COMPANIES ORDINANCES. INTEREST PAYMENTS, AS WELL AS PROFITS ON THE SALE OF THE BONDS, WILL BE EXEMPT FROM HONG KONG PROFITS TAX AND INTEREST TAX, PRESENT AND FUTURE.+
IN CONSIDERING
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