13
WEDNESDAY, MARCH 23, 1994
IN ADDITION, THERE WILL BE INCREASED TRAINING OPPORTUNITIES CIVIL SERVANTS OF DIFFERENT LEVELS.
FOR
TO SET UP A SUBSTANTIAL PENSION RESERVE FUND IS ALSO A CONCRETE MEASURE TO ADDRESS STAFF CONCERN.
CONTINGENCY ON
A
OF
MEASURES, MR SZE SAID THE
OF POSSIBILITY PORTION OF OFFICERS LEAVING THE SERVICE BEFORE OR AFTER THE CHANGE SOVEREIGNTY IN 1997 HAD NOT BEEN RULED OUT.
"TO
FOR PREPARE
DIRECTORATE RANKING WILL BE ADDED.
THIS POSSIBILITY, WE HAVE
UP STEPPED SUCCESSION PLANNING EXERCISE AND OUR TRAINING FOR OFFICERS WITH POTENTIAL, TO ENSURE THAT QUALIFIED
AVAILABLE TO TAKE UP HIGHER LEVEL POSTS
OUR MIDDLE CANDIDATES
IF
REQUIRED,"
HE
MTRC TO CONSIDER SHORT-TERM BOND ISSUE
*
ISSUING
THE MASS TRANSIT RAILWAY CORPORATION (MTRC) WILL CONSIDER SHORT-TERM BONDS OF SMALL DENOMINATIONS FOR HONG KONG RESIDENTS
THE INVEST IN THE CORPORATION, DEPENDING ON
FINANCING REQUIREMENTS FOR THE AIRPORT RAILWAY.
ΤΟ
THIS WAS STATED BY THE SECRETARY FOR THE TREASURY, MR DONALD TSANG, IN A WRITTEN REPLY TO A QUESTION BY THE HON FUNG KIN-KEE IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
"THE MTRC HAS ALREADY ISSUED A STEP-UP BOND IN DENOMINATIONS OF $10,000 MATURING IN 1995.
BOND
ARE
"THIS IS LISTED ON THE HONG KONG STOCK EXCHANGE FOR THE GENERAL
INTEREST
OF THIS RATES PAYABLE TO HOLDERS PUBLIC. THE STEPPED UP ANNUALLY UP TO MATURITY, MR TSANG SAID.
+
AS AT DECEMBER 31 LAST YEAR, MTRC'S TOTAL AMOUNT OF OUTSTANDING LOANS AND OBLIGATIONS UNDER FINANCE LEASES WAS $18,591 MILLION.
THIS INCLUDED $6,480 MILLION (35 PER CENT) FOR CAPITAL INSTRUMENTS; $10,695 MILLION (57 PER CENT) FOR BANK AND OTHER
OBLIGATIONS UNDER AND $1,416 MILLION (EIGHT PER CENT) FOR LEASES.
MARKET
LOANS;
FINANCE
THE CORPORATION'S BORROWINGS, EXCLUDING OBLIGATIONS FINANCE LEASES, AMOUNTED TO $17,175 MILLION LAST YEAR.
THIS COMPRISED:
* FIXED RATE LOANS AND LOANS SWAPPED TO FIXED RATES OF
MILLION WITH INTEREST RATES RANGING FROM 4.55 PER
UNDER
$12,266 CENT
TO
10.31 PER CENT.
* VARIABLE
RATE
LOANS OF $4,909 MILLION,
THE
INTEREST
RATE THE
INTERBANK
LONDON
BEING DETERMINED BY REFERENCE TO EITHER THE PRIME RATE, HONG KONG INTERBANK OFFERED RATE OR THE OFFERED RATE.
MR TSANG ADDED THAT THE OVERALL EFFECTIVE COST OF FUNDING YEAR WAS 7.3 PER CENT.
LAST
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