SATURDAY, DECEMBER 5, 1987
SOME SLIGHT COOLING DOWN OF MR JACOBS SAID HE HAD EXPECTED WHAT WAS A SOMEWHAT OVERHEATED SITUATION IN THE ECONOMY.
THE FINANCIAL SECRETARY REITERATED THAT THE WOULD NOT BE MOVED FROM ITS LINK TO THE U.S. DOLLAR.
HONG KONG DOLLAR
PEGGING THE HONG KONG WHEN ASKED ABOUT THE DISADVANTAGES OF
WAS
VERY DOLLAR TO A BASKET OF CURRENCIES, MR JACOBS SAID THAT IT COMPLEX SUBJECT.
"YOU HAVE TO DECIDE WHAT TO PUT IN THE BASKET AND WHAT TO IN IT AND HOW TO ADJUST THE BASKET FROM TIME TO TIME.
KEEP
"FLEXIBILITY IS SOMETIMES WHAT PEOPLE
DON'T WANT, WHAT
THEY
WANT IS STABILITY AND CERTAINTY.
"YOU STILL NEED A CURRENCY OF ACCOUNT WHICH WOULD BE DOLLAR," HE SAID.
THE U.S.
FINANCIAL SECRETARY VISITS EASTERN HARBOUR CROSSING SITE
MR PIERS
TODAY JACOBS.
(SATURDAY)
THE FINANCIAL SECRETARY, VISITED THE SITE OF THE EASTERN HARBOUR CROSSING WORKS.
PROJECT,
HE WAS ACCOMPANIED BY THE GOVERNMENT ENGINEER FOR THE
NORMAN THOMPSON OF MR MICHAEL TURNER OF THE HIGHWAYS DEPARTMENT, MR
AND COMPANY
MR DOUGLAS OAKERVEE OF THE THE NEW HONG KONG TUNNEL
COMPANY. EASTERN HARBOUR CROSSING PROJECT MANAGEMENT
TRANSIT PRIVATE AT A COST KUMAGAI
THE EASTERN HARBOUR CROSSING, A COMBINED ROAD AND MASS THE GOVERNMENT UNDER A RAILWAY TUNNEL, IS BEING BUILT FOR FRANCHISE AGREEMENT WITH THE NEW HONG KONG TUNNEL COMPANY OF HK$3.8 BILLION BY A CONSORTIUM OF CONTRACTORS COMPRISING GUMI COMPANY OF JAPAN, PAUL Y CONSTRUCTION COMPANY OF LILLEY CONSTRUCTION (HONG KONG) LIMITED OF THE UNITED KINGDOM.
WORK WHICH STARTED ON THE, PROJECT IN AUGUST COMPLETION IN FEBRUARY 1990. HOWEVER MR JACOBS WAS PRESENT PROGRESS IS MAINTAINED THE EASTERN HARBOUR OCTOBER 1989, OPENED TO ROAD AND RAIL TRAFFIC BY AHEAD OF SCHEDULE.
HONG KONG AND
1986 IS DUE FOR INFORMED THAT IF CROSSING COULD BE SOME FOUR MONTHS
/DURING HIS