XN000022-1992-05-04 — Page 4

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MONDAY, MAY 4, 1992

"THERE IS QUITE A MASS OF INFORMATION WHICH WE THE CHINESE AND WE DO ACCEPT THAT THEY NEED TO STUDY AND OF COURSE CERTAINLY WE EXPECT AND HOPE THAT THEY TO US AS SOON AS POSSIBLE WITH ANY QUESTIONS WHICH SAID.

TO

HAVE GIVEN THAT CAREFULLY. WILL COME BACK THEY HAVE," HE

MR MACLEOD SAID HE BELIEVED BOTH SIDES HAD A MUTUAL INTEREST IN GETTING ON WITH THE PROJECT AND THE TIME-SCALE WAS PRETTY TIGHT.

"WE HAVE A NUMBER OF MAJOR DECISIONS TO TAKE IN TERMS OF TENDERS AND CONTRACTS COMING UP. SO THAT IF THE TIME-SCALE SLIPS тоо MUCH, THEN THAT WILL BEGIN AFFECTING THE REAL COMPLETION DATE FOR VARIOUS PROJECTS.

THE

"SO IT IS NOT A BLACK AND WHITE ISSUE, BUT I THINK THE CHINESE ARE VERY WELL AWARE OF THE NEED FOR SPEED. I HAVE NO REASON то SUPPOSE THAT THERE ARE ANY PROBLEMS HERE," HE SAID.

OF

ASKED WHETHER THERE WAS ANY NEED FOR THE HONG KONG GOVERNMENT TO EXPLAIN MORE TO THE CHINESE OFFICIALS BECAUSE OF THE COMPLEXITY THE PACKAGE, MR MACLEOD SAID:

"WE ARE VERY READY TO HAVE A DIALOGUE WITH THEM. THERE HAVE BEEN OF COURSE MEETINGS WITH THEM ALREADY AND WE ARE READY ᎪᎢ

ANY TIME TO DISCUSS WITH THEM ANY CONCERNS THAT THEY'LL HAVE."

IN REPLY TO A QUESTION ON CALLABLE EQUITY, MR MACLEOD SAID IT WAS A WELL-ESTABLISHED WAY OF FUNDING SUCH PROJECTS.

"WE THINK THAT LENDERS WILL READILY UNDERSTAND THIS AND WILL FIND IT REASSURES THEM. THAT IS THE AIM OF HAVING THAT PROVISION. IT IS A REASSURANCE TO LENDERS THAT IF UNFORTUNATELY COSTS GO UP OR OTHER THINGS GO ASTRAY, THEN THERE IS A FALL-BACK THERE FOR THEM.

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HE SAID HE WAS HOPEFUL THAT THE GOVERNMENT WOULD BE ABLE ΤΟ EXPLAIN THAT VERY CLEARLY TO THE CHINESE AND THAT THEY WOULD TAKE A HELPFUL VIEW OF IT.

ON FINANCING OF THE AIRPORT AUTHORITY, MR MACLEOD SAID EQUITY INJECTION FOR THE AIRPORT AUTHORITY WOULD CERTAINLY GO TO THE FINANCE COMMITTEE.

"AND THE LEGISLATIVE COUNCIL WILL ALSO BE INVOLVED IN ORDINANCE. SO CERTAINLY THEY HAVE A PART ΤΟ PLAY IN THE AUTHORITY,"

THE NEW AIRPORT

MACLEOD

TALKING ABOUT THE ASIAN DEVELOPMENT BANK MEETING, MR SAID THE GOVERNMENT WANTED THE VISITORS AND BANKERS ΤΟ HAVE A GOOD POSITIVE IMPRESSION ABOUT HONG KONG'S INFRASTRUCTURAL DEVELOPMENTS.

THE

"WE ARE NOT HERE ACTUALLY TRYING TO RAISE THE MONEY. WE ARE TRYING TO GET OVER TO OUR MANY DISTINGUISHED VISITORS AND BANKERS THE GENERAL SITUATION OF HONG KONG THAT WE ARE IS EXPANDING, AND IN THAT CONTEXT THAT WE PROJECTS LATER ON," HE SAID.

DYNAMIC, HAVE THESE

ECONOMY INTERESTING

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