THURSDAY, OCTOBER 31, 1991
1989, THE
AGAINST ANY
CONNECTION WITH THE SALE OF HLB IN SEPTEMBER FINANCIAL SECRETARY INCORPORATED HAS GIVEN AN INDEMNITY ACTUAL LOSSES OR COSTS INCURRED BY HLB (NOW DAO HENG BANK) AS A RESULT
THE PROCEEDINGS.
OF
"PURSUANT
TO THIS
INDEMNITY,
GOVERNMENT
IS ASSUMING RESPONSIBILITY FOR THE CONDUCT OF THE ACTION WITH THE CO-OPERATION AND IS INTENDED THAT THE (NOW DAO HENG BANK). IT ASSISTANCE OF HLB PROCEEDINGS WILL BE VIGOROUSLY CONTESTED.
11
CONSTRUCTION OUTPUT STATISTICS FOR 2ND QUARTER OF 1991
* *
THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY MAIN CONTRACTORS IN THE SECOND QUARTER OF 1991 AMOUNTED TO $15,813 MILLION, WHICH WAS 6.0% HIGHER THAN IN THE SECOND QUARTER OF 1990.
THIS IS ACCORDING TO THE RESULTS OF THE QUARTERLY SURVEY OF CONSTRUCTION OUTPUT RELEASED TODAY (THURSDAY} BY THE CENSUS AND STATISTICS DEPARTMENT.
COMPARED WITH THE FIRST QUARTER OF 1991, IT INCREASED BY 1.0%.
MAIN CONTRACTORS MAY BE GENERAL CONTRACTORS OR SPECIAL TRADE CONTRACTORS.
GENERAL CONTRACTORS ARE ENGAGED IN NEW CONSTRUCTION WORK AND RENOVATION AND MAINTENANCE. SPECIAL TRADE CONTRACTORS ARE ENGAGED IN SPECIALISED JOB AREAS SUCH AS CONCRETING, SCAFFOLDING, CARPENTRY, PLUMBING AND GAS WORK.
A SPOKESMAN FOR THE DEPARTMENT POINTED OUT THAT PART OF THE INCREASE OF 6.0% IN THE GROSS VALUE OF CONSTRUCTION WORK IN THE SECOND QUARTER OF 1991 OVER THE SAME PERIOD IN 1990 WAS ATTRIBUTABLE TO THE INCREASE IN CONSTRUCTION COSTS.
AFTER DISCOUNTING THE COST INCREASES, THERE WAS PROBABLY A DECREASE IN THE VOLUME OF CONSTRUCTION WORK PERFORMED.
THE INDEX OF GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY MAIN CONTRACTORS FOR THE SECOND QUARTER OF 1991 WAS 240.0, WITH THE QUARTERLY AVERAGE FOR 1982 BEING TAKEN AS 100.
THE CORRESPONDING INDEXES FOR THE FIRST QUARTER OF 1991 AND THE SECOND QUARTER OF 1990 WERE 237.6 AND 226.5 RESPECTIVELY.
OF THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY MAIN CONTRACTORS IN THE SECOND QUARTER OF 1991, $14,667 MILLION WAS ATTRIBUTABLE TO WORK PERFORMED BY GENERAL CONTRACTORS.
THIS WAS 0.5% AND 6.5% RESPECTIVELY HIGHER THAN IN PRECEDING QUARTER AND IN THE SECOND QUARTER OF 1990.
THE
/ON THE