3
WEDNESDAY, NOVEMBER 19, 1975
MR. CHEONG-LEEN SAID THE +STAR+ FERRY WAS ONE OF THE MOST EFFICIENT IN THE WORLD AND HE DID NOT BELIEVE THE GOVERNMENT COULD DO A BETTER JOB THAN THE PRESENT MANAGEMENT.
+HOWEVER, I QUESTION WHETHER GOVERNMENT HAS CHOSEN THE RIGHT TIME TO INTRODUCE THE FARE INCREASES AS SET OUT,+ HE SAID.
IN HIS REPLY TO DR. THE HON. S.Y. CHUNG, THE SECRETARY FOR THE ENVIRONMENT, THE HON. JAMES ROBSON, SAID HE UNDERSTOOD AND SHARED THE CONCERN FOR FAIRNESS TO THE PUBLIC IN SETTLING THE LEVEL OF PROF ITS TO BE PERMITTED TO THE +STAR+ FERRY COMPANY.
HE THOUGHT HOWEVER THAT IT WOULD BE UNREASONABLE NOT TO ALLOW PROFITS BOTH TO REWARD MANAGERIAL EFFORT AND RISK-TAKING AND TO ALLOW SHAREHOLDERS A FAIR RETURN.
HE SAID DR. CHUNG'S COMMENTS WOULD BE BORNE VERY MUCH IN MIND DURING FUTURE DISCUSSIONS WITH THE COMPANY REGARDING ITS PROFITABILITY.
=
/4
+
No comments yet.
Private notes are available after approval.