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(e)
We do not have complete information on the various types of businesses undertaken by central banks/monetary authorities in other economies. As far as we are aware, many central banks/monetary authorities conduct a wide range of activities, some of which may generate profits. Notable examples include the management of official reserves, currency issue and the provision of securities clearing and settlement service. Specifically in relation to mortgage corporations, we understand that Cagamas Berhad, the national mortgage corporation in Malaysia, is 20% owned by Bank Negara Malaysia, the country's central bank. It is a profit-making institution earning RM61.8 million in 1994.
Widening of Tai Tam Road planned
Following is a question by the Hon Howard Young and a written reply by the acting Secretary for Transport, Mr Paul Leung, in the Legislative Council today (Wednesday):
Question:
There has been an increase in the population in Tai Tam and its nearby areas as a result of the completion of a number of new residential projects in the area. This has led to an increase in traffic volume which will increase the risk of traffic accidents occurring along the narrow road on the Tai Tam Reservoir dam connecting the eastern and south-eastern parts of Hong Kong Island. In view of this, will the Government inform this Council whether it has any plan to widen the roads in the areas adjacent to Tai Tam, particularly the narrow road on the dam; if so, what the plans are; if not, why not?
Reply:
Mr President,
There is a plan to widen the section of Tai Tam Road adjacent to the reservoir from a 5.0m carriageway to a standard 7.3m two-lane carriageway to provide a capacity compatible with the rest of Tai Tam Road. The scope of the project comprises: