TUESDAY, APRIL 3, 1990
MR BARMA SAID HONG KONG MUST RETAIN A BALANCED AND
AND THE
SECTOR WOULD CONTINUE ECONOMY,
MANUFACTURING SEVERAL HUNDRED THOUSAND WORKERS FOR MANY YEARS TO COME.
TO
DIVERSIFIED EMPLOY
ONE PART OF THE UPGRADING
MANUFACTURERS то ADOPT
A
HE ALSO SAID AUTOMATION WOULD BE PROCESS, BUT SUCCESS WOULD ALSO REQUIRE PHILOSOPHY DIRECTED AT THE CONSUMER'S REQUIREMENTS.
"QUALITY,
FLEXIBILITY, RESPONSIVENESS AND WILL BE EQUALLY IMPORTANT," HE ADDED.
OF
CUSTOMER
SERVICE
WOULD UPGRADING
HONG KONG'S
UNITED STATES, JAPAN, TECHNOLOGY
BE
ASSISTED MANUFACTURING
BY
NOTING THAT THE PROCESS
IN INVESTMENT INCREASING OVERSEAS INDUSTRIES, MR BARMA SAID HE WOULD EXPECT THE THE UNITED KINGDOM AND WEST GERMANY TO BE MAJOR SOURCES OF TRANSFER.
MAY WELL BE
OUR
JAPAN INVESTMENT, "AT ITS CURRENT RATE OF
HE SAID. LARGEST OVERSEAS INVESTOR BY THE YEAR 2000,
++
SALE OF EXCHANGE FUND'S REMAINING SHARES IN HK TELECOM
* * * * * *
THE ACTING FINANCIAL SECRETARY,
MR
DAVID NENDICK, ANNOUNCED
THE EXCHANGE
LIMITED
THAT HE HAS TODAY (TUESDAY) AGREED TO SELL THE WHOLE OF FUND'S REMAINING SHAREHOLDING IN HONG KONG TELECOMMUNICATIONS ("HK TELECOM"}, AMOUNTING ΤΟ 377,544,752 SHARES REPRESENTING APPROXIMATELY 3.4 PER CENT OF THE ISSUED SHARE CAPITAL OF HK TO SMITH NEW COURT SECURITIES PLC, A LEADING UK SECURITIES HOUSE, A TOTAL CONSIDERATION OF APPROXIMATELY HK$1.85 BILLION.
TELECOM,
FOR
EXCHANGE THE
FUND WILL
AFTER COMPLETION OF THIS TRANSACTION, NO LONGER HAVE ANY EQUITY INTERESTS IN HK TELECOM.
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