XN000022-1976-08-29 — Page 1

K 香港政府 GIS 新聞處

DAILY INFORMATION BULLETIN

SUNDAY, AUGUST 29, 1976

GOVERNMENT BRINGS IN INDEPENDENT

VALUERS TO HELP TAI ON SHOP OPERATORS

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THE GOVERNMENT IS ENGAGING AN INDEPENDENT INSURANCE AND VALUATION COMPANY TO VALUE THE GOODS OF TWO TAILOR SHOPS AT TAI ON MANSION WHICH ARE TO CLOSE DOWN INSTEAD OF TRANSFERRING TO NEW PREMISES.

+AFTER THE VALUATIONS ARE MADE THE TWO SHOPS WILL DISPOSE OF THEIR REMAINING STOCK AT BARGAIN PRICES OR BY AUCTION, WHICHEVER THE OWNERS PREFER, AND THE GOVERNMENT WILL MAKE UP THE BALANCE BETWEEN THE INSURANCE COMPANY'S VALUATION AND THE AMOUNT ACTUALLY RECEIVED FOR THE STOCK IN EACH CASE,+ SAID A GOVERNMENT SPOKESMAN TODAY.

IN ADDITION, IF EITHER SHOP HAD TO LAY OFF ANY EMPLOYEES, THE GOVERNMENT WOULD COMPENSATE THE OWNERS FOR REDUNDANCY PAYMENTS MADE TO SUCH EMPLOYEES UNDER THE TERMS OF THE LABOUR LAWS.

THE SPOKESMAN ALSO OUTLINED AS FOLLOWS THE OFFERS MADE TO THE SEVEN SHOP OPERATORS AT TAI ON MANSION, WHICH REVERTED TO THE CROWN ON APRIL 13 THIS YEAR AND MUST MAKE WAY FOR ESSENTIAL TUNNELLING WORKS FOR THE MASS TRANSIT RAILWAY :

1. EX-GRATIA COMPENSATION OF $40 PER SQUARE FOOT FOR PREMISES

ACTUALLY USED FOR BUSINESS PURPOSES, AND AT A LESSER RATE FOR OTHER PARTS OF SUCH PREMISES SUCH AS STORE-ROOMS OR BATHROOMS. THIS COMPENSATION AMOUNTS TO A TOTAL OF $137,632.

2. NON-PAYMENT OF RENTS AND RATES SINCE THE BUILDING REVERTED

TO THE CROWN ON APRIL 13. THESE UNPAID RENTS AND RATES TOTAL $73,000 AND IN THE CASE OF THE BIGGEST OPERATOR THIS REPRESENTS A +BONUS+ OF MORE THAN $30,000.

3. MONETARY COMPENSATION FOR TEMPORARY LOSS OF PROFITS OVER

THE PERIOD OF THE IR MOVE, AND FOR THE TIME IT TAKES TO RE-ESTABLISH THEIR BUSINESS IN NEW PREMISES.

4. PAYMENT OF THE COST OF STAMP DUTY ON NEW LEASES, AND OTHER

CONNECTED EXPENSES.

5. PAYMENT FOR THE TRANSPORTATION OF GOODS FROM THE OLD SHOP

AT TAI ON MANSION TO THE NEW SHOP.

/6. WHERE

Issued by Government Information Services, Beaconsfield House, Hong Kong. Tel: 5-233191

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