XN000022-1991-04-24 — Page 6

5

WEDNESDAY, APRIL 24, 1991

HE

PRUDENT SAID A

FINANCING PROGRAMME WAS NECESSARY REFINANCING MATURING DEBTS AT A REASONABLE COST.

FOR

WORLD CAPITAL

IN

"IN A PERIOD OF CONSIDERABLE FLUCTUATION IN THE MARKETS, I AM PLEASED TO NOTE THAT THE MTRC REMAINS WELL RESPECTED THE INTERNATIONAL FINANCIAL COMMUNITY.

RATINGS ENJOYED

BY THE CORPORATION THE CORPORATION

"THE RESPECTABLE CREDIT DEMONSTRATE CONFIDENCE IN THE ECONOMIC WELL BEING OF AS A PRINCIPAL PUBLIC TRANSPORT COMPANY IN HONG KONG," HE SAID.

CURRENT FINANCIAL STRATEGY MR MACLEOD SAID THE CORPORATION'S WAS SOUND AND ITS REVENUE GROWTH SUFFICIENT TO MEET ITS OBLIGATIONS.

IN TWO TO THREE YEARS, THE CORPORATION WAS EXPECTED TO

INTEREST CHARGES PROFIT AFTER

WITHOUT RECOURSE PROPERTY DEVELOPMENTS, HE ADDED.

MAKE

TO

EARNINGS

A FROM

MR

HAD

TO THE

CORPORATION THE MACLEOD ALSO NOTED THAT DURING 1990 CONTINUED TO LIAISE WITH GOVERNMENT OVER POTENTIAL EXTENSIONS MTR SYSTEM.

"IT

HAS WORKED

CLOSELY

WITH GOVERNMENT FEASIBILITY OF THE NEW AIRPORT RAILWAY,

ON THE

TECHNICAL

CONTEXT OF "OTHER POSSIBLE EXTENSIONS WILL BE EXAMINED IN THE

BE UNDERTAKEN LATER THIS GOVERNMENT'S RAILWAY DEVELOPMENT STUDY TO

OF ON ANY

THESE POTENTIAL

YEAR.

DECISIONS

NO EXTENSIONS," HE SAID.

BEEN HAVE

TAKEN

0

BILLS INTRODUCED TO REMOVE ANOMALIES IN ELECTION PROCEDURES

*

THE

REGIONAL THE LEGISLATIVE

1991 AND THE URBAN COUNCIL (AMENDMENT} BILL COUNCIL (AMENDMENT) BILL 1991 WERE INTRODUCED INTO COUNCIL TODAY (WEDNESDAY).

MOVING THE SECOND READING OF THE URBAN COUNCIL (AMENDMENT) BILL 1991, THE CHIEF SECRETARY, THE HON SIR DAVID FORD, SAID THE OBJECT

BARRED CANDIDATES THE BILL WAS TO REMOVE THE EXISTING ANOMALY WHICH FOR THE OFFICE OF CHAIRMAN OR VICE-CHAIRMAN OF THE URBAN COUNCIL VOTING IN THE ELECTION TO THOSE OFFICES.

FROM

IT ALSO SOUGHT TO REMOVE THE UNNECESSARY REQUIREMENT TO HOLD A SECRET BALLOT EVEN IF ONLY ONE CANDIDATE WAS NOMINATED FOR ELECTION TO OR FOR THE OFFICE OF CHAIRMAN OR VICE-CHAIRMAN OF THE URBAN COUNCIL ELECTION AS DISTRICT BOARD REPRESENTATIVE ON THE URBAN COUNCIL.

THEIR

OF THE URBAN SIR DAVID SAID THF CHAIRMAN AND VICE-CHA ERMAN COUNCIL WERE BACH ELIGIBLE FOR A SPECIAL ALLOWANCE BY VIRTUE OF RESPECTIVE OFFICES.

/"CANDIDATES FOR