3
WEDNESDAY, JANUARY 6, 1988
IT COULD BE SEEN, THEREFORE, THAT BY 25.18 PER CENT, MR GLEESON SAID.
NEW
INSOLVENCIES
DECREASED
"THIS CONTINUATION OF THE DOWNWARD TREND IN INSOLVENCIES
REFLECTED THE GOOD PERFORMANCE OF HONG KONG'S EXPORTS AND THE GENERALLY,"
ECONOMY
IT
OCTOBER HE WAS NOT PREPARED TO FORECAST HOW THE
STOCK MARKET CRASH MIGHT AFFECT THE VOLUME OF INSOLVENCIES DURING 1988 BUT SAID HAD NO VISIBLE EFFECT 90 FAR.
BY COMPARISON THERE WAS A DECEASE OF ONLY 0.57 PER CENT IN TOTAL NUMBER OF NEW INSOLVENCIES IN 1986 OVER 1985.
THE
IN 1987
INCLUDED
LTD.
NOTABLE COMPANY FAILURES
CO. N.F.F. AUSTRAVEL CO. LTD, MARIGOLD RESTAURANT LTD, UNITED STATES LINES, INC., (1981) JAN SIN MEE (HOLDINGS) LTD, JAN SIN MEE GARMENTS MANUFACTURING
CONSTRUCTION CO. LTD, THAI GEAR CO. LTD, RIGHT TIME STANDFAST INSURANCE CO. LTD.
CO. LTD, AND
THE TOTAL NUMBER OF INSOLVENCIES BEING HANDLED BY THE
037. RECEIVER'S OFFICE AT THE END OF THE YEAR WAS 3,
OF THESE, 1,643 WERE COMPULSORY WINDINGS-UP AND 1, BANKRUPTCIES.
OFFICIAL
394
PERSONAL
OF THE FUNDS ADMINISTERED BY THE OFFICIAL RECEIVER AT THE END
1.25 PER CENT AS YEAR TOTALLED $1,369 MILLION, AN INCREASE OF OVER AGAINST $1,352 MILLION AT THE END OF 1986.
TOTAL DIVIDENDS DECLARED BY THE OFFICIAL RECEIVER
AMOUNTED TO $173.9 MILLION MILLION IN 211 INSOLVENCIES
IN 356 IN 1986.
INSOLVENCIES,
AS
DURING 1987 AGAINST $43.2
0
-
TENANCIES SOUGHT FOR SIX NT LOTS
SIX LOTS IN THE NEW TERRITORIES ARE TO BE LET ON SHORT TERM TENANCY BY THE BUILDINGS AND LANDS DEPARTMENT.
ONE OF THE LOTS, MEASURING ABOUT 135 SQUARE METRES, IS AT TUI MIN HOI, SAI KUNG. IT IS FOR AN INDUSTRIAL WORKSHOP.
THE TENANCY IS FOR THREE YEARS, RENEWABLE QUARTERLY AFTERWARDS.
COVERING AN AREA OF ABOUT 3,800 SQUARE METRES, THE SECOND LOT IS AT KWAI CHUNG AREA 10B, NEAR TAI WO HAU ROAD.
/IT IS