XN000022-1976-04-15 — Page 2

THURSDAY, APRIL 15,1976

STEREO F.M. ON R.T.H.K.

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THE DIRECTOR OF BROADCASTING, MR. JAMES HAWTHORNE, THIS AFTERNOON PRESSED A CEREMONIAL BUTTON TO MARK THE START OF RADIO TELEVISION HONGKONG'S STEREO SERVICES.

THE CEREMONY WAS HELD AT THE HUNG HOM RAILWAY STATION WHERE AN EXHIBITION ON STEREO EQUIPMENT IS BEING HELD.

IN A SPEECH, MR. HAWTHORNE SAID THAT R.T.H.K. HAD OVER THE YEARS BEEN GRADUALLY REPLACING ITS F.M. EQUIPMENT AS IT WORE OUT WITH STERED CAPABLE EQUIPMENT. HOWEVER, STERED BROADCASTING WOULD STILL HAVE BEEN SOME TIME AWAY HAD NOT THE RADIO ASSOCIATION COME FORWARD TO-PROVIDE THE NECESSARY EQUIPMENT TO CLOSE THE GAP. HE THANKED THE ASSOCIATION FOR ITS GENEROSITY.

MR. HAWTHORNE SAID THE START OF STEREO TODAY WAS ONLY PHASE ONE OF R.T.H.K.'S DEVELOPMENT PROGRAMME. PHASE TWO WOULD BE ACHIEVED IN A FEW MONTHS' TIME WHEN TRANSPOSERS ARE INSTALLED TO IMPROVE F.M. RECEPTION. PHASE THREE WAS STILL ON THE DRAWING BOARD AND WHEN THAT IS COMPLETED STEREO RECEPTION WOULD BE PERFECT.

THE MOSBERT GROUP LIQUIDATION *****

THE OFFICIAL RECEIVER, MR. P. JACOBS SAID TODAY THAT HE HAD GATHERED TOGETHER A STRONG TEAM OF ACCOUNTANTS TO ASSIST HIM IN THE LIQUIDATION OF MOSBERT HOLDINGS LIMITED AND OTHER COMPANIES IN THE GROUP.

LAST WEEK, THE OFFICIAL RECEIVER HAD MEETINGS WITH REPRESENTATIVES FROM MESSRS PEAT, MARWICK, MITCHELL AND CO. AND MESSRS ARTHUR ANDERSEN AND CO. WITH A VIEW TO DECIDING UPON THE ALLOCATION OF TASKS WITHIN THE LIQUIDATION. MR. JACOBS SAID THAT THERE WERE AREAS IN WHICH THERE MIGHT BE A CONFLICT OF INTEREST AS FAR AS PEAT MARWICK MITCHELL AND CO. WERE CONCERNED. THIS FIRM HAD BEEN ENGAGED BY ONE OF THE CREDITORS IN OTHER CAPACITIES, AND IT WAS FOR THIS REASON THAT IT HAD BEEN AGREED THAT ANOTHER FIRM OF ACCOUNTANTS, ARTHUR ANDERSEN AND CO., SHOULD BE CALLED IN TO ASSIST.

+WE ARE VERY LUCKY TO HAVE THE HELP OF TWO SUCH FIRMS OF INTERNATIONAL STANDING HAVING REGARD TO THE COMPLEXITY OF THIS MATTER AND THE FACT THAT THE ASSETS OF THE GROUP ARE SPREAD THROUGHOUT A NUMBER OF DIFFERENT COUNTRIES,+ MR. JACOBS CONCLUDED.

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