XN000022-1986-07-11 — Page 12

11

FRIDAY, JULY 11, 1986

HE SAID THE SAI KUNG CENTRAL PRIMARY SCHOOL HAD DONE A LOT IN CULTIVATING STUDENTS' CIVIC AWARENESS AND SOCIAL CONCERNS.

+ IT HAS DECIDED TO SET UP A CIVIC EDUCATION CO-ORDINATING COMMITTEE TO HELP PROMOTE CIVIC EDUCATION AMONG STUDENTS.

+APART FROM THIS, THE SCHOOL ALSO ENCOURAGES STUDENTS TO TAKE PART IN VARIOUS KINDS OF COMMUNITY SERVICES, OUTDOOR ACTIVITIES AND COMPETITIONS SO THAT THEY CAN DEVELOP A GOOD HABIT IN LIFE AND NOT GO ASTRAY EASILY, + HE SAID.

THE SAI KUNG CENTRAL PRIMARY SCHOOL, COMPLETED IN SEPTEMBE 1984, COMBINES EIGHT RURAL PRIMARY SCHOOLS IN SAI KUNG AND 15 The FIRST GOVERNMENT-AIDED CENTRAL PRIMARY SCHOOL BUILT IN THE RURAL AREAS OF HONG KONG.

THE SCHOOL AIMS TO PROVIDE A SUITABLE ENVIRONMENT AND BETTER FACILITIES FOR PRIMARY STUDENTS LIVING IN THE AREAS.

+HOWEVER, AS A PIONEER SCHOOL OF ITS KIND, IT STILL HAS TO FACE AND OVERCOME A LOT OF DIFFICULTIES,+ MR HO SAID.

AT PRESENT, THERE ARE ABOUT 300 STUDENTS STUDYING IN THE SCHO THE EXAMINATION RESULTS LAST YEAR WERE SATISFACTORY WITH 65 PER C T OF STUDENTS ALLOCATED FORM ONE PLACES IN GOVERNMENT-AIDED SCHOOLS.

MANGAGEMENT CONTROL OF UNION BANK *****

FOLLOWING THE ACQUISITION OF A MAJORITY INTERST IN THE UNION BANK OF HONG KONG LIMITED (UNION BANK) BY MODERN CONCEPTS LIMITED, IN WHICH CHINA MERCHANTS STEAM NAVIGATION COMPANY LIMITED HAS A 68 PER CENT INTEREST AND SEARCH INTERNATIONAL LIMITED A 32 PER CENT INTEREST, AND THE APPOINTMENT BY MODERN CONCEPTS LIMITED OF NEW DIRECTORS TO THE BOARD OF UNION BANK, THE FINANCIAL SECRETARY IS OF THE OPINION THAT IT IS NO LONGER NECESSARY FOR JARDINE FLEMING AND COMPANY LIMITED (JARDINE FLEMING) TO REMAIN IN CONTROL OF AND CARRY ON THE BUSINESS OF UNION BANK.

ACCORDINGLY, THE FINANCIAL SECRETARY HAS PURSUANT TO SECTION 17(1) OF THE BANKING ORDINANCE RETURNED THE MANAGEMENT CONTROL OF UNION BANK TO ITS BOARD OF DIRECTORS WITH EFFECT FROM SUNDAY (JULY) 13.

SINCE THE ACQUISITION OF A MAJORITY INTEREST BY MODERN CONCEPTS LIMITED, THE BANK'S LIQUIDITY HAS SIGNIFICANTLY IMPROVED. SUBSTANTIAL ADDITIONAL LINES OF CREDIT HAVE ALSO BEEN MADE AVAILABLE BY THE BANK OF CHINA AND OTHER MAJOR INTERNATIONAL BANKS.

/ACCORDINGLY,