XN000022-1988-07-08 — Page 18

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FRIDAY, JULY 8, 1988

RATE OF NEW INSOLVENCIES DECREASES

AND 114 NEW OF THIS YEAR

THERE WERE 87 NEW CASES OF COMPULSORY WINDING-UP PERSONAL BANKRUPTICES DURING THE FIRST SIX MONTHS COMPARED WITH THE 138 AND 167 RESPECTIVELY IN 1987, THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY (FRIDAY).

RATE OF

MR GLEESON SAID IT COULD BE SEEN, THEREFORE, THAT THE NEW INSOLVENCIES HAD DECREASED BY 34.1 PER CENT. THIS HAD BEEN A CONTINUING TREND SINCE 1986.

BY COMPARISON, THERE WAS ALSO A 15.98 PER CENT DECREASE IN THE NUMBER OF NEW INSOLVENCIES IN THE FIRST HALF OF 1987 OVER THE SAME PERIOD IN 1986.

MORE COMPLICATED OR SIGNIFICANT INSOLVENCIES DURING THE FIRST SIX MONTHS OF THIS YEAR WERE: G.F. MARK FIVE KNITTING FACTORY

LTD., QUALIMAX ELECTRONICS LTD. AND CLEVEDON CO. LTD.

TOTAL DIVIDENDS DECLARED BY THE OFFICIAL RECEIVER DURING THE FIRST HALF OF 1988 AMOUNTED TO $34.41 MILLION IN 233 INSOLVENCIES, AS AGAINST $123.96 MILLION IN 190 INSOLVENCIES FOR THE CORRESPONDING PERIOD OF 1987.

THE TOTAL NUMBER OF INSOLVENCIES BEING HANDLED BY THE OFFICIAL RECEIVER'S OFFICE AT THE END OF LAST MONTH WAS 3,114 COMPRISING 1,668 CASES OF COMPULSORY WINDING-UP AND 1,446 PERSONAL BANKRUPTCIES.

FUNDS ADMINISTERED BY THE OFFICIAL RECEIVER AT THE END OF JUNE THIS YEAR TOTALLED $1,418 MILLION, AN INCREASE OF 5.19 PER CENT AS AGAINST $1,348 MILLION AT THE END OF JUNE, 1987.

CYC MEMBERS TO TOUR JAPAN AND SINGAPORE * * * * *

TWENTY-THREE OUTSTANDING MEMBERS OF THE COMMUNITY YOUTII CLUB (CYC) OF THE EDUCATION DEPARTMENT, WHO WON OVERSEAS EDUCATIONAL

TOURS FOR THEIR EXCELLENT PERFORMANCES IN THE CYC MERIT AWARD SCHEME THIS YEAR WILL BE LEAVING FOR TOKYO AND SINGAPORE ON SUNDAY (JULY THURSDAY (JULY 14) RESPECTIVELY.

10)

AND

JOINT FLAG PRESENTATION AS WELL AS THEIR CALLED ON THEM ΤΟ VISITING THE TWO

ADDRESSING THE CYC MEMBERS AT A CEREMONY AND A TEA PARTY FOR 11 BOYS AND 12 GIRLS PARENTS, THE DIRECTOR OF EDUCATION, MR Y.T. PROMOTE THE SPIRIT AND THE GOOD WORK OF CYC COUNTRIES.

LI, WHILE

/MR LI