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WEDNESDAY, NOVEMBER 2, 1994
BASIS
AS A
IT IS INAPPROPRIATE TO USE THE AVERAGE NET FIXED ASSETS TO CALCULATE THE COMPANY'S RETURN BECAUSE STAR FERRY EARNS A SUBSTANTIAL PORTION OF ITS PROFIT FROM OTHER SOURCES SUCH AS PIER RENTAL AND ADVERTISING WHICH HAVE NO RELATIONSHIP WITH ITS FIXED ASSETS. ALSO STAR FERRY HAS A VERY SMALL FIXED ASSET 'BASE.
THE FARE INCREASE IS NECESSARY TO ENABLE STAR FERRY TO MAINTAIN ITS HIGH QUALITY SERVICE ENJOYED BY THE PUBLIC AND TOURISTS.
BY THE
AS WITH ANY OTHER FARE INCREASE APPLICATION, STAR FERRY'S FUTURE APPLICATION WILL BE SUBJECT TO DETAILED SCRUTINY GOVERNMENT.
ALL RELEVANT FACTORS INCLUDING THE COMPANY'S FINANCIAL POSITION WILL BE TAKEN INTO CONSIDERATION. THEREFORE, IT IS PREMATURE TO JUDGE WHETHER THERE SHOULD BE ANY FARE INCREASE FOR THE STAR FERRY BEFORE 1997.
AS REGARDS SERVICE IMPROVEMENT STAR FERRY IS IN THE PROCESS OF INSTALLING AIR-CONDITIONING IN ONE UPPER-DECK CABIN OF EACH OF ITS VESSELS.
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ALSO THE PEAK-HOUR FREQUENCY OF THE WAN CHAT TSIM SHA TSUI SERVICE HAS BEEN INCREASED TO MEET GROWING PASSENGER DEMAND.
STUDY ON RIVER TRADE CARGO MOVEMENTS AND
PORT FACILITY REQUIREMENTS
*
THE DIRECTOR OF PLANNING, DR PETER PUN, HAS SIGNED A CONSULTANCY AGREEMENT WITH GHK (HONG KONG) LIMITED TO CONDUCT A STUDY ON RIVER TRADE CARGO MOVEMENTS AND PORT FACILITY REQUIREMENTS.
"THE MAIN OBJECTIVES OF THE STUDY ARE TO ASSESS THE CURRENT EXTENT, TYPE AND MOVEMENT OF RIVER TRADE CARGOES AND TO ESTIMATE THE FUTURE DEMAND FOR ADDITIONAL PORT FACILITIES IN HONG KONG SO AS TO IDENTIFY SUITABLE LOCATIONS FOR THE REQUIRED FACILITIES," A SPOKESMAN FOR THE DEPARTMENT SAID TODAY (WEDNESDAY).
"THE STUDY IS EXPECTED TO COMPLETE IN SEPTEMBER NEXT ITS FINDINGS WILL PROVIDE USEFUL INFORMATION FOR PLANNING PORT FACILITIES IN HONG KONG TO MEET FUTURE DEMAND, THE ADDED.
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YEAR AND ADDITIONAL
SPOKESMAN
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