XN000022-1991-01-25 — Page 2

1.

FRIDAY, JANUARY 25, 1991

GOVERNMENT INTENDS TO INVOLVE PRIVATE SECTOR IN AIRPORT PROJECT

THE

THE

FAR

NEW

GOVERNMENT INTENDS TO INVOLVE THE PRIVATE SECTOR AS AS

IN THE PROVISION OF FACILITIES AND SERVICES AT POSSIBLE

MRS ANSON CHAN, AIRPORT ITSELF, THE SECRETARY FOR ECONOMIC SERVICES F SAID TODAY (FRIDAY).

SPEAKING AT THE PLENARY SESSION ON PROJECT FINANCING AND PRIVATISATION AT THE APEX '91 HONG KONG CONFERENCE, MRS CHAN POINTED AT OUT THAT THE WORK OF THE FINANCIAL CONSULTANTS ON THE NEW AIRPORT

кок, L'HEK

RANGE TO DATE, LAP

HAS CONCENTRATED ON THE

OF POSSIBLE INSTITUTIONAL ARRANGEMENTS FOR ON-AIRPORT ACTIVITIES.

AS

AIR TERMINAL.

THEY INCLUDED THE SCOPE FOR PRIVATISING MAJOR FACILITIES SUCH

THE AIRCRAFT MAINTENANCE CARGO,

FACILITIES AND

PASSENGER

SHE NOTED THAT MANY SERVICES AT KAI TAK

AS CARGO SUCH MAINTENANCE AIRCRAFT

AND HANDLING,

ENGINEERING, THE HANDLING OF BAGGAGE, APRON SERVICES AND AIRCRAFT CATERING WERE ALREADY PRIVATISED.

"THE

MAIN SCOPE FOR INCREASING THE LEVEL OF PRIVATIZING CHEK LAP KOK OVER AND ABOVE THAT ALREADY FOLLOWED AT KAI TAK RESPECT

THE PASSENGER TERMINAL, WHICH AT KAI TAK OF OPERATED BY THE GOVERNMENT.

AT

WAS

WAS IN OWNED AND

"THE MASTER PLANNERS ARE ENSURING THAT THEIR CONCEPTS FOR THE PASSENGER TERMINAL AT CHEK LAP KOK WILL BE SO DESIGNED AS TO MAKE THEM AMENDABLE TO PRIVATIZING, MRS CHAN SAID.

то

SHE STRESSED THAT A MAJOR OBJECTIVE OF THE GOVERNMENT WAS

ΤΟ THE AIRPORT KEEP THE AMOUNT OF PUBLIC SECTOR FINANCIAL SUPPORT

THE WITH

OPTIMAL

AUTHORITY TO

THAT A LEVEL DEVELOPMENT OF THE NEW AIRPORT,

IT WAS

CONSISTENT

"OUR AIM IS TO BUILD A POST-EFFECTIVE AIRPORT THAT WOULD MEET INTERNATIONAL STANDARDS OF SERVICE AND SAFETY.

GOVERNMENT SUCCESSFULLY

SHE ADDED.

"AS THE

THE ONLY SHAREHOLDER IN THE AUTHORITY, WILL ALSO WISH TO ENSURE THAT THE AUTHORITY WILL OPERATE WITH A REASONABLE RATE OF RETURN ON ITS INVESTMENT,

TURNING TO

THE

AIRPORT

THE

FOR THE

AUTHORITY, MRS CHAN SAID

GOVERNMENT

REQUIRED PREPARE THE LEGISLATION CONTINUED TO ESTABLISHMENT OF THE AUTHORITY PROPER IN LATE 1991 OR EARLY 1992.

THE

"THE AUTHORITY WILL BE A BODY CORPORATE WHOLLY-OWNED BY

SUCCESSFUL MASS GOVERNMENT

AN ARRANGEMENT NOT UNLIKE THAT OF THE TRANSIT RAILWAY CORPORATION, FOR EXAMPLE.

AND

"THE AIRPORT AUTHORITY ORDINANCE WILL ESTABLISH THE FRAMEWORK

THE WITHIN WHICH

AUTHORITY WILL

INCLUDING POLICY OPERATE, FINANCIAL OBJECTIVES LAID DOWN BY THE GOVERNMENT.

/"THE LEGISLATION