THURSDAY, APRIL 18, 1985
14
CUSTOMERS MAY NOW CLAIM PRECIOUS METAL-
******
THE OFFICIAL RECEIVER SAID TODAY THAT HE WILL RECOGNISE THE CLAIMS OF FORMER PRECIOUS METAL CUSTOMERS OF DEAK-PERERA FAR EAST LIMITED TO OWNERSHIP OF THE PRECIOUS METAL WHICH WAS IN THE POSSESSION OF THE COMPANY AT THE COMMENCEMENT OF ITS WINDING UP.
IT WAS PART OF DEAK'S BUSINESS TO TRADE IN PRECIOUS METALS AND MANY OF THE CUSTOMERS' HOLDINGS WERE LEFT WITH THE COMPANY TO BE STORED IN SAFE CUSTODY. THE STOCKS OF PRECIOUS METAL ARE NOW STORED IN BANKS IN HONG KONG AND ABROAD. THERE HAS BEEN SOME DEBATE ABOUT WHETHER THE PRECIOUS METAL IS REALLY OWNED BY THE CUSTOMERS OR BY THE COMPANY. THE OFFICIAL RECEIVER MADE AN APPLICATION FOR THE COURT'S DIRECTIONS ON THIS QUESTION. THIS HAS NOW BEEN RESOLVED IN FAVOUR OF THE PRECIOUS METAL CUSTOMERS.
NEGOTIATIONS ARE IN PROGRESS BETWEEN THE OFFICIAL RECEIVER AND AN UNNAMED PRECIOUS METAL TRADING COMPANY FOR A POSSIBLE TAKEOVER BY THE COMPANY OF ALL OF THE FORMER DEAK PRECIOUS METAL CUSTOMERS. UNDER THIS PROPOSED ARRANGEMENT THE NEW COMPANY WILL MAKE PROVISION FOR THE FORMER CUSTOMERS TO REDEEM THEIR CERTIFICATES ISSUED BY DEAK, RETAIN THEIR HOLDINGS OR RE-COMMENCE TRADING.
IT IS EXPECTED THAT NEGOTIATIONS WILL BE CONCLUDED WITHIN THE NEXT FEW WEEKS AND ALL PRECIOUS METAL OWNERS WILL BE INFORMED.
FOURTH QUARTER RESTAURANT SURVEY RESULTS RELEASED
*****
TOTAL RECEIPTS FOR THE ENTIRE RESTAURANT SECTOR IN THE FOURTH QUARTER OF 1984, ESTIMATED AT $4 779 MILLION, WERE SIX PER CENT HIGHER THAN IN THE SAME QUARTER OF 1983, WHILE THE VOLUME WAS TWO PER CENT HIGHER, ACCORDING TO PROVISIONAL SURVEY RESULTS RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.
TOTAL RESTAURANT RECEIPTS FOR THE WHOLE OF 1984 ROSE BY 12 PER CENT IN VALUE AND FIVE PER CENT IN VOLUME, WHEN COMPARED WITH 1983.
A COMPARISON OF RECEIPTS FOR THE FOURTH QUARTER OF 1984 WITH THOSE FOR THE PRECEDING QUARTER, SHOWED TOTAL RESTAURANT RECEIPTS WENT UP BY FIVE PER CENT IN BOTH VALUE AND VOLUME.
THE VALUE OF TOTAL RESTAURANT PURCHASES IN THE FOURT QUARTER OF 1984, ESTIMATED AT $2 050 MILLION, WAS ONE PER CENT HIGHER THAN IN THE FOURTH QUARTER OF 1983 AND FOUR PER CENT HIGHER THAN IN THE THIRD QUARTER OF 1984. FOR THE WHOLE YEAR OF 1984, IT INCREASED BY 13 PER CENT WHEN COMPARED WITH 1983.
/IN THE