WEDNESDAY, NOVEMBER 6, 1985
THERE WAS ALSO A BELIEF THAT THE RECENT ANNOUNCEMENT OF THE REDUCTION OF THE BRITISH GARRISON BY ONE BATTALION HAD RESULTED IN A REDUCTION IN THE SECURITY FORCES DEPLOYED AT THE BORDER.
MR THOMAS STRESSED THAT THERE HAD BEEN NO REDUCTION IN THE SECURITY FORCES AT THE BORDER AND THE WITHDRAWAL OF THE 2/7 GURKHA RIFLES NEXT YEAR WOULD BE ACCOMPANIED BY INCREASED PER IODS OF BORDER DUTY FOR OTHER BATTALIONS.
+THERE WILL BE NO REDUCTION IN THE NUMBER OF SECURITY PERSONNEL PATROLLING THE BORDER AND NO LOSS OF EFFECTIVENESS, + HE SAID.
HANG LUNG BANK BEING VALUED ****
A FIRST CLASS CONSULTANT HAS BEEN ENGAGED TO VALUE THE HANG LUNG BANK AND TO ADVISE THE GOVERNMENT ON THE FORM AND THE TIMING OF A DEVESTITURE, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
*
ANSWERING THE HON DAVID K.P. LI, SIR JOHN SAID A REPORT ON THE BANK WAS EXPECTED IN ABOUT A MONTH'S TIME.
+THE ACTUAL FORM AND TIMING OF THE SALE WILL TAKE ACCOUNT OF THAT REPORT, THE PUBLIC INTEREST AND THE INTEREST OF THE BANK'S STAFF AND CUSTOMERS,+ HE SAID, ADDING THAT HE WOULD WISH TO CONSULT THE EXECUTIVE COUNCIL BEFORE MAKING A FINAL DECISION.
AS TO THE OVERSEAS TRUST BANK AND ITS SUBSIDIARY, THE HONG KONG INDUSTRIAL AND COMMERCIAL BANK, THE FINANCIAL SECRETARY SAID THAT NO PLANS HAD YET BEEN MADE. BUT IT IS THE GOVERNMENT'S WISH ALSO TO RETURN THESE BANKS TO THE PRIVATE SECTOR AS SOON AS COMMONSENSE INDICATES IS POSSIBLE.+
+A DECISION ON OTB SEEMS UNLIKELY FOR ABOUT TWO YEARS. IT MAY WELL PROVE POSSIBLE TO MOVE MORE QUICKLY WITH HICB. BUT THERE ARE INTERCONNECTED AND OTHER PROBLEMS, SIR JOHN SAID.
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