End
(b)
(c)
- 28 -
It is premature at this point in time to discuss details of the amount of dividend payment when the 1996 accounts for the MTRC are still being audited for review and approval by the Board in March this year. However, the provisional figure in the Financial Support Agreement's cashflows is for $700 million to be paid as dividend in 1997.
On the basis for its financial projections, we anticipate that the decision to pay a dividend to government will cause the MTRC no additional financial burden, as it has prudently taken into account this requirement in its overall financial planning, which includes the potential commitments for the capital projects mentioned.
No plan to close off Victoria Park in June
Following is a question by the Hon Lau Wai-hing, Emily and a written reply by the Secretary for Broadcasting, Culture and Sport, Mr Chau Tak-hay, in the Legislative Council today (Wednesday):
Question:
Will the Government inform this Council whether there are plans to close off Victoria Park, other parks and open areas in June this year prior to the transfer of sovereignty; if so, of the details of such plans and the justifications for the closure?
Reply:
The management of Victoria Park and other public pleasure grounds falls outside the Government's direct policy responsibility and is the direct responsibility of the two Municipal Councils. I have obtained the information sought by the Honourable Member from the two Councils' executive departments, i.e. the Urban Services Department and the Regional Services Department.
According to the Urban Services Department, there is no plan to close off Victoria Park in June this year. According to the two Departments, out of a total of over 1,300 parks and open spaces managed by the Urban Council (UC) or the Regional Council (RC), four are closed and another seven will be closed in June this year; and these closures are necessitated by improvement/maintenance works or public works and the details are at Annexes A and B respectively.