XN000022-1991-07-19 — Page 10

FRIDAY, JULY 19, 1991

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YI PUBLIC GOVERNMENT KWAI CHUNG. NEW

KWAI TSING DISTRICT OFFICE, KWAI CHUNG AND TSING ENQUIRY SERVICES CENTRE, SECOND FLOOR, KWAI HING OFFICES BUILDING, 166-174 HING FONG ROAD, TERRITORIES;

SHAM SHUI PO DISTRICT OFFICE, 37-39 FLOOR, KOWLOON;

TONKIN STREET, GROUND

10TH OFFICE,

FLOOR, TSUEN WAN CASTLE PEAK

KWAI TSING DISTRICT LANDS STATION MULTI-STOREY CARPARK BUILDING, 174-208 ROAD, TSUEN WAN, NEW TERRITORIES;

LANDS OFFICE,

YAU MA TEL CARPARK

KOWLOON WEST DISTRICT BUILDING, 10TH FLOOR, 250 SHANGHAI STREET, KOWLOON.

OBJECT

ΤΟ THE WORKS

OR THE USE, ANY PERSON WHO WISHES TO

CENTRAL OR BOTH, IS REQUIRED TO WRITE TO THE SECRETARY FOR TRANSPORT,

ROAD, HONG GOVERNMENT OFFICES, EAST WING, SECOND FLOOR, LOWER ALBERT

DESCRIBING HIS INTEREST: KONG NOT LATER THAN SEPTEMBER 17 THIS YEAR,

BY THE WORKS AND THE MANNER IN WHICH HE ALLEGES HE WILL BE AFFECTED OR THE USE.

PROPOSED PURCHASE OF BCCHE EXPLAINED

THIE

PURCHASE

NATURE OF A PROPOSAL BY THE BANK OF EAST ASIA TO THE BANK OF CREDIT AND COMMERCE HONG KONG LIMITED (BCCHK), WOULD HAVE SECRETARY, EXPOSED PUBLIC FUNDS TO UNLIMITED LIABILITY, THE FINANCIAL SIR PIERS JACOBS TOLD THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL TODAY (FRIDAY).

BANK

PARTNERSHIP

THROUGH

JOINT

IN REPLY TO A QUESTION, SIR PIERS SAID THE OFFER WAS THAT OF EAST ASIA SHOULD ACQUIRE UP TO 50 PER CENT OF ROCK IN WITH THE BEA AND THE HONG KONG GOVERNMENT, EITHER DIRECTLY OR OVERSEAS TRUST BANK, IN OTHER WORDS IT WOULD HAVE BEEN A 50-50 VENTURE WITH THE HONG KONG GOVERNMENT.

THE FINANCIAL SECRETARY SAID THE OFFER AS DESCRIBED IN WAS PERHAPS ONLY PARTIAL.

PUBLIC

SAID: "IT MAY BE

THAT THAT BCC'S OPERATIONS ANTICIPATE

QUOTING A LETTER FROM DEA, SIR 11ERS

IT WILL BECOME APPARENT AFTER THREE YEARS OR EVEN BEFORE, PROBLEMS ARE SO LARGE THAT UPON ANY FAIR ASSESSMENT OF ITS WOULD IT CANNOT OR SHOULD NOT CONTINUE, IN WHICH CASE WE THAT WE COULD PUT OUR EQUITY BACK TO OTB TOGETHER WITH ANY LIABILITIES 50 AS ΤΟ IN RESPECT OF FINANCIAL COMFORT GIVEN IN RESPECT TO BCC,

BCC CONCERNING LIABILITIES US,

OF OUR BEA, RELIEVE REGULATORY AND OTHERWISE, OR REQUIRE THAT BCC BE LIQUIDATED"

THAT'S

+

BOTH

/"THE RESULT

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