XN000022-1987-06-09 — Page 6

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IN

TUESDAY, JUNE 9, 1987

INDEED, IN VIEW OF

THE

EXTENSIVE

AND INCREASING USE OF PLASTICS IN MANY END PRODUCTS, ANY IMPROVEMENT IN THE QUALITY OF THE PLASTICS INDUSTRY'S OUTPUT WOULD IMPROVE NOT ONLY ITS OWN COMPETITIVENESS BUT ALSO THAT OF OTHER INDUSTRIES, FOR EXAMPLE, ELECTRONICS.

THE PROPOSAL ENDORSED BY THE IDB IS FOR A COMPANY TO BE SET UP TO PLAN AND MANAGE THE OPERATIONS OF THE INDUSTRIAL CENTRE, WHICH WILL PROVISIONALLY BE LOCATED IN THE HONG KONG POLYTECHNIC FOR THE PURPOSE INITIALLY OF:

禦 PROVIDING INFORMATION ON MATERIALS,

DEVELOPMENTS IN PRODUCT TECHNOLOGY;

PRODUCT TRENDS AND

PROVIDING A FOCAL POINT FOR THE PLASTICS CONVERSION

INDUSTRY TO CONSULT WITH OTHER ORGANISATION; AND

PROVIDING CONSULTANCY SERVICES.

IT IS ALSO ENVISAGED THAT THE CENTRE WILL DIVERSIFY INTO OTHER INDUSTRIAL SUPPORT ACTIVITIES, INCLUDING APPLIED RESEARCH AND DEVELOPMENT.

FURTHER CONSULTATION, IN PARTICULAR WITH THE UNIVERSITY AND POLYTECHNIC GRANTS COMMITTEE, IS NECESSARY BEFORE DETAILS CAN BE FINALISED.

THE COMPANY'S ACTIVITIES WILL BE FINANCED PARTLY BY A GENEROUS DONATION OF $10 MILLION FROM CHEN HSONG MACHINERY CO LTD, AND PARTLY BY FEES FOR CONSULTANCY SERVICES TO BE RENDERED.

IN THE LIGHT OF REVENUE AND EXPENDITURE LIKELIHOOD OF FURTHER DONATIONS, THE GOVERNMENT THE CASE FOR MAKING A CAPITAL GRANT.

FORECASTS AND THE WILL ALSO CONSIDER

COMMENTING ON THE IDB'S DECISION, THE CHAIRMAN, MR PIERS JACOBS, SAID: "IT HAS TAKEN US SOME TIME TO REACH A DECISION ON THE

RECOMMENDATION, BUT I WOULD CONSULTANT'S

LIKE TO RECORD MY KONG APPRECIATION OF THE COOPERATION OF THE HONG

POLYTECHNIC, WHICH IT IS HOPED WILL PLAY A KEY ROLE IN THIS NEW INITIATIVE AND MY APPRECIATION OF THE GENEROUS DONATION THAT CHEN HSONG HAS MADE AVAILABLE FOR THIS ENTERPRISE."

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