XN000022-1987-04-13 — Page 12

MISCELLANEOUS

MANUFACTURED ARTICLES

(MAINLY BABY

CARRIAGES,

TOYS, GAMES AND SPORTING

GOODS)

TELECOMMUNICATIONS

AND SOUND

RECORDING AND

REPRODUCING

APPARATUS

AND EQUIPMENT

PHOTOGRAPHIC

APPARATUS,

EQUIPMENT

AND SUPPLIES

OPTICAL GOODS, WATCHES AND CLOCKS

11

MONDAY, APRIL 13, 1987

1 767

78

792

85

1 243

75

566

66

1 072

46

498

40

HONG KONG LAUDED FOR YOUDE FUND DONATIONS

*****

THE CHAIRMAN OF THE NEWLY ESTABLISHED BOARD OF TRUSTEES OF THE SIR EDWARD YOUDE MEMORIAL FUND, MR LEE QUO-WEI, TODAY (MONDAY) PRAISED INDIVIDUALS, COMPANIES, ORGANISATIONS AND GOVERNMENT DEPARTMENTS FOR THE IR GENEROUS SUPPORT TO THE FUND OVER THE PAST FEW MONTHS.

MR LEE SAID THAT ALTHOUGH $80 MILLION HAD BEEN RECEIVED BY THE FUND THE APPLICATION OF THE FUND'S INCOME WOULD BE DETERMINED BY A COUNCIL FOR EDUCATIONAL PURPOSES.

EXPLAINING THE COMPLEXITY OF ADMINISTERING THE FUND, HE SAID DUE TO LOW LOCAL INTEREST RATE AND HIGH EXCHANGE RATE OF FOREIGN CURRENCIES, THE ANNUAL INCOME OF THE FUND MIGHT NOT BE ENOUGH TO SETTLE OVERSEAS EDUCATION EXPENDITURES AT PRESENT BECAUSE PAYMENT WOULD HAVE TO BE MADE IN FOREIGN CURRENCIES.

MR LEE WAS SPEAKING AT A CHEQUE-PRESENTATION CEREMONY THIS MORNING AT THE DINING HALL OF THE LEGISLATIVE COUNCIL BUILDING, WHERE HE RECEIVED A DONATION OF $100 000 FROM THE PRESIDENT OF THE HONG KONG CHINESE MANUFACTURERS' ASSOCIATION, MR LAWRENCE CHU.

THE DONATION