XN000022-1987-11-25 — Page 23

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WEDNESDAY, NOVEMBER 25, 1987

THE REPORT FURTHER NOTES THAT TRADING IN THE PROPERTY MARKET AS A WHOLE CONTINUED TO BE ACTIVE IN THE THIRD QUARTER OF 1987, WITH SIGNIFICANT INCREASES IN PROPERTY PRICES AND RENTALS OVER A YEAR AGO.

WHILE THERE WAS CONTINUED DEMAND FOR RESIDENTIAL PROPERTY DURING THE THIRD QUARTER, BUYERS WERE APPARENTLY BECOMING MORE CAUTIOUS AND SELECTIVE AT THE PREVAILING HIGH FLAT PRICES.

MEANWHILE, THE MARKET CONDITIONS FOR COMMERCIAL AND INDUSTRIAL PROPERTY REMAINED TIGHT, AND PRICES AND RENTALS PARTICULARLY FOR PREMISES IN PREFERRED LOCATIONS STILL REGISTERED INCREASES.

AS REGARDS BUILDING INTENTIONS, PLANNED DEVELOPMENTS OF ALL TYPES OF PROPERTY, IN TERMS OF THE TOTAL USABLE FLOOR AREA ON BUILDING PLANS FOR WHICH CONSENT TO COMMENCE WORK HAD BEEN GIVEN, INCREASED BY 18 PER CENT IN THE FIRST NINE MONTHS OF 1987 COMPARED WITH THE SAME PERIOD IN 1986.

THE THIRD QUARTER ECONOMIC REPORT 1987 IS NOW ON SALE AT THE GOVERNMENT PUBLICATIONS CENTRE IN CONNAUGHT PLACE, CENTRAL, AT $12 A COPY.

LICENCE OF TRAVEL AGENT SUSPENDED

THE REGISTRAR OF TRAVEL AGENTS

LICENCE WILL BE

OF

THIS EVENING (WEDNESDAY } JET-WAY TRAVEL AND TOURS SERVICE SUSPENDED WITH EFFECT FROM TOMORROW

ANNOUNCED THAT THE BEAU-RAY CO. LTD) THURSDAY).

THE SUSPENSION IS BEING MADE UNDER THE TRAVEL AGENTS ORDINANCE FOLLOWING AN INVESTIGATION INTO THE BUSINESS OF THE COMPANY WHICH LED "HE REGISTRAR TO BELIEVE THAT THE AGENCY HAS BEEN CARRYING ON BUSINESS CONTRARY TO THE PUBLIC INTEREST.

WITH EFFECT FROM TOMORROW, JET-WAY TRAVEL AND TOURS SERVICE

WILL NO LONGER BE ALLOWED TO ACCEPT NEW CLIENTS FOR ITS "OUT-BOUND" FOUR AND TRAVEL SERVICES. HOWEVER, IT MUST COMPLETE TRAVEL SERVICES WHICH IT HAS ALREADY UNDERTAKEN TO PROVIDE FOR ITS CLIENTS.

THE SUSPENSION ONLY AFFECTS THE COMPANY'S "OUT-BOUND" BUSINESS BT DOES NOT AFFECT "IN-BOUND" TRAVEL SERVICES, WHICH ARE OUTSIDE THE SCOPE OF THE TRAVEL AGENTS ORDINANCE.

WHILE ITS LICENCE IS SUSPENDED, JET-WAY TRAVEL AND TOURS SERVICE IS NOT ALLOWED TO PRESENT ITSELF AS CARRYING ON "OUT-BOUND" TRAVEL BUSINESS BY PUBLISHING ANY ADVERTISEMENT FOR "OUT-BOUND" TOURS.

/UNDER THE