FRIDAY, JULY 11, 1986
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ACCORDINGLY, THE COMMISSIONER OF BANKING IS SATISFIED THAT THE LINE OF CREDIT FROM THE EXCHANGE FUND OF THE HONG KONG GOVERNMENT, WHICH WAS UTILISED ONLY ON THE FIRST FEW DAYS AFTER THE TAKEOVER OF THE MANAGEMENT BY JARDINE FLEMING IN MARCH THIS YEAR, IS NO LONGER NECESSARY AND ANNOUNCED THAT IT WOULD ALSO BE WITHDRAWN WITH EFFECT FROM JULY 13.
THE COMMISSIONER OF BANKING HAS EXPRESSED HIS APPRECIATION TO JARDINE FLEMING FOR ITS SERVICES FROM MARCH 27, 1986 WHEN IT ASSUMED CONTROL OF UNION BANK UNDER HIS DIRECTION.
FURTHER ACTION ON FINANCE FIRM
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THE REGISTRATION OF THAI MERCANTILE DEVELOPMENT FINANCE LIMITED WAS SUSPENDED ON JUNE 26, 1986. THERE IS NOW NO AUTHORISED SIGNATORY LEFT IN HONG KONG TO MANAGE THE COMPANY. THE NEW CHIEF EXECUTIVE HAS NOT TURNED UP TO THE OFFICE AS PROMISED.
THE FINANCIAL SECRETARY HAD ALREADY APPOINTED MR Y.K. CHOI TO INSPECT THE DEPOSIT-TAKING COMPANY UNDER SECTION 38(2) OF THE DEPOSIT-TAKING COMPANIES ORDINANCE.
ON RECEIPT OF HIS REPORT AND AS A MEASURE TO PROTECT THE INTERESTS OF THE DEPOSITORS AND CREDITORS OF THE COMPANY, THE FINANCIAL SECRETARY HAS PETITIONED TO THE HIGH COURT FOR THE WINDING UP OF THE THAI MERCANTILE DEVELOPMENT FINANCE LIMITED, THE OFFICIAL RECEIVER WAS APPOINTED AS THE PROVISIONAL LIQUIDATOR TODAY.
THE PETITION FOR THE WINDING UP OF THAI MERCANTILE DEVELOPMENT FINANCE LIMITED WILL BE HEARD ON SEPTEMBER 15, 1986.
ANY QUER IES REGARDING THE POSITION OF THAI MERCANTILE DEVELOPMENT FINANCE LIMITED SHOULD BE MADE TO THE OFFICIAL RECEIVER'S OFFICE AT 11TH FLOOR, QUEENSWAY GOVERNMENT OFFICES, 66 QUEENSWAY CENTRAL, AT 5-8622448.
MORAL EDUCATION A RESPONSIBILITY FOR ALL
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MORAL EDUCATION IS EVERYBODY'S RESPONSIBILITY AND IT IS IMPORTANT FOR SCHOOLS TO PLAY A ROLE IN PROMOTING IT IN CLASSROOM, THE DIRECTOR OF EDUCATION, MR MICHAEL LEUNG, SAID TODAY (FRIDAY).
SPEAKING AT THE GRADUATION CEREMONY OF POOL TO MIDDLE SCHOOL, HELD AT BAPTIST CHURCH, MR LEUNG SAID GOOD PERSONAL CONDUCT WAS ONE OF THE VITAL FACTORS IN BUILDING A MEANINGFUL LIFE. A HARMONIOUS AND HAPPY FAMILY AND A PROSPEROUS AND STABLE SOCIETY.