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FRIDAY, JULY 19, 1985
THESE INTERVENTIONARY ACTIONS INCLUDED CONDUCTING SPECIAL INVESTIGATIONS INTO THE COMPANIES' ACTIVITIES AND THEIR FINANCIAL POSITION AND REQUIRING THEM TO CEASE WRITING NEW INSURANCE BUSINESS, TO LIMIT THEIR PREMIUM INCOME AND TO DEPOSIT FUNDS IN THE NAME OF THE INSURANCE AUTHORITY.
AS AT JUNE 30, THERE WERE 286 AUTHORISED INSURANCE COMPANIES OPERATING IN HONG KONG.
THE REMAINING 156 OF THESE, 130 WERE INCORPORATED LOCALLY. COMPANIES CAME FROM 25 COUNTRIES, INCLUDING THE UNITED KINGDOM (50), THE UNITED STATES (31), BERMUDA (TEN), JAPAN (EIGHT), SINGAPORE (SEVEN), SWITZERLAND (SEVEN), CANADA (SIX) AND FRANCE (FIVE).
FINAL STAGE OF REDEVELOPMENT FOR ESTATE
*****
THE REDEVELOPMENT SCHEME FOR TAI HANG TUNG ESTATE IS ENTERING ITS FINAL STAGE AS BUILDING TENDERS ARE INVITED TODAY FOR ITS FIFTH PHASE.
+THREE 11-STOREY LINEAR BLOCKS WILL BE BUILT ON THE SITES OF FOUR MARK I BLOCKS TO PROVIDE 420 SELF-CONTAINED FLATS FOR 2 100 PEOPLE BY 1987, + SAID A SPOKESMAN FOR THE HOUSING AUTHORITY.
HE SAID WORKS WOULD ALSO COVER THE CONSTRUCTION OF A PEDESTRIAN BRIDGE, A COVERED WALKWAY AND ASSOCIATED EXTERNAL WORKS AND DRAINAGE.
+TAI HANG TUNG ESTATE HAS ALREADY TAKEN ON A FRESH LOOK WITH THE COMPLETION OF A NEW BLOCK AND THE CONVERSION OF THREE OLD BLOCKS UNDER THE INITIAL STAGES OF THE REDEVELOPMENT SCHEME.
+AT PRESENT, THREE OTHER MODERN DOMESTIC BLOCKS FOR 2 100 PEOPLE ARE BEING BUILT IN THE ESTATE.+
ALSO INVITED TODAY ARE PILING TENDERS FOR THREE MORE BLOCKS AT CHEUNG ON ESTATE WHICH IS THE SIXTH PUBLIC RENTAL HOUSING PROJECT ON TSING YI ISLAND.
+WORKS WILL INCLUDE PILING TO FOUNDATIONS FOR TWO 35-STOREY TRIDENT BLOCKS, A 21-STOREY SLAB BLOCK, A SECONDARY SCHOOL AND A CARPARK, PLUS ASSOCIATED COVERED WALKWAYS,+ THE SPOKESMAN SAID.
HE SAID
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