XN000022-1988-02-27 — Page 6

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SATURDAY, FEBRUARY 27, 1988

SPEAKING AT THE PRESENTATION

CEREMONY,

THE FAR THE

LADY YOUDE SAID PEOPLE OF HONG KONG, AND YOUNG PEOPLE IN PARTICULAR, WERE BY TERRITORY'S SINGLE MOST IMPORTANT ASSET.

"IT IS ITS PEOPLE THAT HAVE MADE HONG

CENTRE

KONG THE PLACE IT IS THE TOGETHER WHICH BRINGS TODAY A DYNAMIC MAJOR ECONOMIC

WILL TAKE BEST OF EAST AND WEST; AND IT WILL BE THE YOUNG PEOPLE WHO HONG KONG TO FURTHER HEIGHTS IN THE FUTURE,

SHE SAID.

PEOPLE ITS CITIZENS'

LADY YOUDE SAID SHE HAD GREAT CONFIDENCE THAT THE YOUNG WOULD REMAIN COMMITTED TO HONG KONG AND WOULD MAINTAIN TRADITION OF SERVICE TO THE COMMUNITY.

"THE AWARD SCHEMES INITIATED IMPETUS AND OPPORTUNITIES TO THIS END,

SO

[+]

FAR HAVE PROVIDED SHE SAID.

A FRESH

SIR EDWARD SAID TODAY'S AWARDS AIMED AT ENCOURAGING

ALSO SPEAKING AT THE CEREMONY, THE CHAIRMAN OF THE YOUDE MEMORIAL FUND COUNCIL, MR STEPHEN CHEONG,

OF TWO SCHEMES WERE MADE UNDER THE FIRST

ACADEMIC STUDIES AND LEADERSHIP DEVELOPMENT.

I AM SURE THAT "COMPETION FOR THE AWARDS IS VERY KEEN AND

OF THE THE AMOUNT OF MONEY, AT $1.7 MILLION, WHICH MADE UP THE VALUE

STUDENTS' ACHIEVEMENTS,' AWARDS IS MONEY WELL SPENT TO RECOGNISE THE HE SAID.

SAID THE

SECOND SCHEME

WAS INTENDED TO AWARD MR CHEONG

TO PURSUE SCHOLARSHIPS AND FELLOWSHIPS FOR LOCAL STUDENTS WHO WISHED

WORLD'S

FINEST

ACADEMIC

COURSES OVERSEAS, WITH THE AIM OF PROVIDING FOR THE EDUCATION OF SOME OF HONG KONG'S BRIGHTEST INSTITUTIONS.

STUDENTS

AT THE

"IT IS NOT THAT THEY CANNOT PURSUE COURSES SUCCESSFULLY IN

EXPOSURE BUT WE FEEL THAT OVERSEAS LOCAL INSTITUTIONS.

HONG KONG. VALUABLE EXPERIENCE TO THEM WHEN THEY RETURN TO

HE SAID. HELP BROADEN THEIR AND OUR HORIZON,

OUR

WILL BE IT WILL

"

IT IS ENVISAGED THAT UP TO SIX AWARDS, TOTALLING $1.5 WILL BE MADE FOR THE 1988-89 ACADEMIC YEAR.

TRUSTEES OF

MILLION,

THE SIR WOULD

THE DEMAND

MEANWHILE, THE CHAIRMAN OF THE BOARD OF EDWARD YOUDE MEMORIAL FUND, MR LEE QUO-WEI, SAID THAT AS AWARDS SOON BE EXTENDED TO HONG KONG STUDENTS TO STUDY OVERSEAS, ON THE FUND WOULD FURTHER INCREASE.

ANXIOUSLY "WE THEREFORE MEMBERS OF THE COMMUNITY,

APPEAL

FOR

CONTINUED

SUPPORT

FROM

77

HE SAID.

MR LEE SAID THAT AS AT JANUARY 31 THIS YEAR, OF THE FUND'S PORTFOLIO STOOD AT $79.015 MILLION.

THE MARKET VALUE

PAYMENT OF AWARDS SO FAR "AFTER TAKING INTO ACCOUNT OF THE MADE, THIS AMOUNT REPRESENTS A DROP IN BOOK VALUE OF 3.4 PER CENT FROM THE TOTAL SUM OF $83.055 MILLION RECEIVED IN DONATIONS,

M

HE SAID.

E

-

/MR LEE