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TUESDAY, MARCH 21, 1989
HK TENNIS FOUNDATION WELCOMES DONATIONS
IN ORDER TO PROMOTE AND DEVELOP TENNIS IN THE TERRITORY, THE HONG KONG TENNIS FOUNDATION HAS BEEN SET UP AS A CENTRAL BODY FOR FUNDING AND HAS SO FAR RECEIVED OVER $2 MILLION.
A SPOKESMAN FOR THE FOUNDATION SAID TODAY (TUESDAY) THAT OF THE $2 MILLION RECEIVED, #1 MILLION WAS CONTRIBUTED BY THE ROYAL HONG KONG JOCKEY CLUB.
"ANOTHER $1 MILLION WILL BE SUBVENTED BY THE GOVERNMENT DURING
1989-90."
HE SAID THE FOUNDATION WOULD PROVIDE FUNDS TO VARIOUS SPORTS ORGANISATIONS, INCLUDING THE HONG KONG TENNIS ASSOCIATION (HKTA) AND THE HONG KONG TENNIS PATRONS' ASSOCIATION, TO HELP THEM PROMOTE AND DEVELOP TENNIS AS A POPULAR SPORT IN THE TERRITORY.
"IT WILL ALSO PROVIDE FUNDS FOR THE HKTA TO APPOINT AN EXECUTIVE DIRECTOR AND HIRE SUPPORTING STAFF TO TAKE CHARGE OF THE ADMINISTRATIVE WORK OF THE ASSOCIATION AND ΤΟ ADMINISTER TRAINING PROGRAMMES AND ORGANISE TOURNAMENTS.
"A LARGE-SCALE MINI-TENNIS PROMOTION SCHEME WILL BE LAUNCHED SHORTLY, FUNDED BY THE FOUNDATION AND ORGANISED JOINTLY BY THE HKTA AND THE TWO MUNICIPAL COUNCILS, THE SPOKESMAN CONTINUED.
THE SPOKESMAN POINTED OUT THAT THE DONATION BY THE JOCKEY CLUB WAS MOST TIMELY.
"IT WILL DEFINITELY ENCOURAGE MORE CORPORATE FIRMS AND COMPANIES TO FOLLOW SUIT AND DONATE FUNDS TO THE FOUNDATION IN FUTURE FOR THE DEVELOPMENT OF TENNIS, HE ADDED.
INTEREST ON TAX RESERVE CERTIFICATES
*
THE GAZETTE PUBLISHED YESTERDAY (MONDAY) CONTAINS A LEGAL NOTICE TO THE EFFECT THAT THE FINANCIAL SECRETARY HAS AUTHORISED AN INCREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
FROM TOMORROW (WEDNESDAY) THE NEW ANNUAL, RATE OF INTEREST WILL BE 8.28 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 7.80 PER CENT (TAX FREE).
/INTEREST ON
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