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BANK NOT FOR SALE
***
WEDNESDAY, MARCH 5, 1986
THE GOVERNMENT WILL NOT SELL THE HANG LUNG BANK FOR THE TIME BEING.
A GOVERNMENT SPOKESMAN SAID THE DECISION HAD BEEN ARRIVED AT AFTER CONSIDERING MORGAN GUARANTY TRUST'S REPORT ON THE FEASIBILITY, MORGAN SUBMITTED ITS FORM AND TIMING OF THE SALE OF HANG LUNG BANK. REPORT TO THE GOVERNMENT IN DECEMBER 1985.
+OUR AIM IS TO MAXIMISE THE RETURN ON SALE OF THE BANK. DECISION NOT TO SELL FOR THE TIME BEING IS PURELY A COMMERCIAL JUDGEMENT, SAID THE SPOKESMAN.
REGARDING THE TOTAL COST OF RESCUING HANG LUNG BANK, THE SPOKESMAN SAID THIS WOULD ONLY BE KNOWN AFTER ITS SALE.
THE
TENANCIES SOUGHT FOR NT SITES *****
THE LANDS DEPARTMENT IS TO LET BY TENDER THREE PLOTS OF GOVERNMENT LAND IN THE NEW TERRITORIES.
ONE IS A 5'230-SQUARE-METRE SITE AT JOCKEY CLUB ROAD NEXT
TO THE MAGISTRACY IN FANLING.
IT IS TO BE LET FOR A NON-RENEWABLE TERM OF TWO YEARS
STARTING APRIL 15, 1986.
UNDER THE TENANCY AGREEMENT, THE SITE CAN BE USED EITHER AS A FEE-PAYING PUBLIC CAR PARK FOR PRIVATE CARS, LIGHT VANS, LORRIES AND COACHES: AN OPEN STORAGE GROUND FOR NEWLY IMPORTED UNLICENSED PRIVATE CARS, LIGHT VANS, LORRIES, COACHES, AND WHEELED AND TRACKED CONTRACTOR'S PLANT OR A NURSERY FOR PLANTS AND TREES OR A COMBINATION OF ALL THREE.
ANOTHER SITE IS AT THE JUNCTION OF KIN FAT STREET AND HO TIN STREET IN TUEN MUN AND MEASURES 2 300 SQUARE METRES.
IT CAN BE USED FOR ANY OPEN STORAGE PURPOSES EXCEPT THE STORAGE OF CONTAINERS.
MEASURING 1 612 SQUARE METRES, THE THIRD SITE IS AT FUNG KONG TSUEN IN YUEN LONG WHICH CAN BE USED FOR A PRIVATE OR COMMERCIAL GARDEN AND NURSERY,
THE TENANCIES FOR THE TUEN MUN AND YUEN LONG SITES ARE FOR ONE YEAR, RENEWABLE QUARTERLY AFTERWARDS.
TENDERS SHOULD BE SENT IN BY NOON ON MARCH 21.
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