XN000022-1975-10-28 — Page 3

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TUESDAY, OCTOBER 28, 1975

LOAN SCHEME FOR SMALL INDUSTRIES EXTENDED

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THE COMMERCE AND INDUSTRY DEPARTMENT ANNOUNCED TODAY THAT THE LOANS FOR SMALL INDUSTRY SCHEME WHICH EXPIRED RECENTLY AFTER A TRIAL PERIOD OF THREE YEARS WILL BE EXTENDED FOR ONE YEAR.

THE DECISION WAS MADE ON THE ADVICE OF THE TRADE AND INDUSTRY ADVISORY BOARD.

THE SCHEME WAS IMPLEMENTED IN JULY 1972 BY THE COMMERCE AND INDUSTRY DEPARTMENT IN CONJUNCTION WITH LOCAL BANKS AND THE HONG KONG PRODUCTIVITY CENTRE. IT WAS INTENDED TO PROVIDE AN ADDITIONAL SOURCE OF LOAN CAPITAL FOR SMALL FACTORIES TO PURCHASE EQUIPMENT AND MACHINES TO INCREASE PRODUCTIVITY.

A SPOKESMAN FOR THE COMMERCE AND INDUSTRY DEPARTMENT INVITS SMALLER FACTORIES WISHING TO INSTALL UP-TO-DATE MACHINERY AND TO IMPROVE THEIR MANUFACTURING TECHNIQUES TO TAKE ADVANTAGE OF THE SCHEME.

AT PRESENT, THE MAXIMUM AMOUNT ONE CAN BORROW UNDER THE SCHEME IS $500,000. INDUSTRIAL FIRMS WITH PROPRIETORS' FUNDS OF $2 MILLION, OR LESS, AND A WORK FORCE OF 200 OR LESS, ARE QUALIFIED TO APPLY.

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