to exploit the potential of new bus services, both across the harbour and for new estates along the north shore corridor of Hong Kong Island, it is unlikely that the present level of loss-making local services in all parts of the Island can be maintained without significantly higher fares levels.
We must, therefore, call upon the Government to abandon its guidelines, for the over-protection of one particular mode of transport may erode the viability of another mode, an effect which in the long run would be detrimental to the overall public interest.
Appreciation
The two directors appointed by the Governor under the Public Bus Services Ordinance were the Commissioner for Transport, Mr. P.F. Leeds J.P. and the Deputy Secretary for Transport, Mr. Christopher WONG Kim-kam J.P. Upon Mr. David LAN Hong-tsung succeeding Mr. Wong as Deputy Secretary for Transport, Mr. Lan took Mr. Wong's seat on the Board from 9th June 1986. On behalf of the shareholders and my fellow directors I would like to record my appreciation of their participation in the deliberations of the Board.
I would also like to thank our loyal staff for their dedication and hard work in what has been a very difficult year for our company.
Hong Kong, 15th November 1986
8
NGAN Shing-kwan Chairman
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