XN000022-1985-04-15 — Page 2

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MOND Y, APRIL 15, 1985

FINANCE SECTOR BACKS HOMES SCHEME

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THE FINANCIAL SECTOR HAS ONCE AGAIN DEMONSTRATED SUPPORT TO THE GOVERNMENT'S HOME OWNERSHIP SCHEME (HOS) AND PRIVATE SECTOR PARTICIPATION SCHEME (PSPS).

A RECENTLY COMPLETED EXERCISE INVITING FINANCIAL INSTITUTIONS TO COMMIT FUNDS FOR FINANCING MORTGAGES FOR HOS AND PSPS FLATS TO BE SOLD IN 1985 WAS MOST SUCCESSFUL, A SPOKESMAN FOR THE MONETARY AFFAIRS BRANCH SAID TODAY.

THE ESTIMATED MORTGAGE REQUIREMENT FOR THE 1985 FLATS IS NEARLY $4 000 MILLION, WHICH IS TWO-AND-A-HALF TIMES MORE THAN THE REQUIREMENT IN 1984. BUT THE COMMITMENT OF FUNDS BY PARTICIPATING FINANCIAL INSTITUTIONS GREATLY EXCEEDED THIS AMOUNT, HE SAID.

FURTHERMORE, 54 FINANCIAL INSTITUTIONS TOOK PART IN THE EXERCISE THIS YEAR, COMPARED WITH 47 IN 1984.

SUCH ENCOURAGING RESPONSE WAS ALSO AN INDICATION OF THE GENERAL INCREASE IN THE INTEREST AND CONFIDENCE IN THE PROPERTY MARKET, THE SPOKESMAN SAID.

ELIGIBLE PURCHASERS OF HOS AND PSPS FLATS REQUIRING LOANS TO MEET THE PURCHASE PRICE OF THEIR FLATS CAN APPROACH ANY OF THE FINANCIAL INSTITUTIONS THAT HAVE JOINED THE MORTGAGE FINANCING ARRANGEMENT.

A LIST OF THE 54 PARTICIPATING FINANCIAL INSTITUTIONS FOR 1985 IS AVAILABLE FOR REFERENCE AT THE SALES OFFICE, HOME OWNERSHIP 'CENTRE, OI MAN COMMERCIAL CENTRE, 1ST FLOOR, OI MAN ESTATE,

KOWLOON.

+MEXICO COMMUNIQUE+ RELEASED

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A TRADE DEPARTMENT SPOKESMAN TODAY (MONDAY) RELEASED COPIES OF THE +MEXICO COMMUNIQUE+ ISSUED BY DEVELOPING COUNTRIES AT THE END OF A MEETING ON TEXTILES PROBLEMS HELD IN MEXICO CITY.

A HONG KONG DELEGATION LED BY THE DIRECTOR OF TRADE, MR HAMISH MACLEOD, TOOK PART IN THE INTERNATIONAL MEETING, WHICH WAS ALSO ATTENDED BY REPRESENTATIVES OF ARGENTINA, BANGLADESH, BRAZIL, CHINA, COLOMBIA, DOMINICAN REPUBLIC, EGYPT, INDIA, INDONESIA, KOREA, MACAU, MÁLAYSIA, PAKISTAN, PÉRU, SRÍ LANKA, THAILAND, TURKEY, URUGUAY AND YUGOSLAVIA, AND HOSTED BY THE MEXICAN GOVERNMENT.

+THE MEETING WAS CRUCIAL AS AN OPPORTUNITY TO BEGIN FORMULATING, BEHIND THE SCENES. A COMMON POSITION ON WHAT SHOULD HAPPEN WHEN THE MULTI-FIBRE ARRANGEMENT EXPIRES IN MID-1986, + COMMENTED MR MACLEOD.

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