XN000022-1992-05-27 — Page 24

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WEDNESDAY, MAY 27, 1992

A DIVIDEND OF $140 MILLION WAS PAID TO THE GOVERNMENT. THIS REPRESENTS A RETURN TO THE TAXPAYERS ON THE SUBSTANTIAL PUBLIC INVESTMENT IN THE CORPORATION.

"IT ALSO UNDERLINES THE CORPORATION'S ABILITY TO OPERATE ON A PRUDENT COMMERCIAL BASIS, HE SAID.

"

AT THE END OF 1991,

TOTAL ASSETS OF THE CORPORATION STOOD AT $5.4 BILLION AND BORROWINGS AT LESS THAN $1 BILLION. THE YEAR-END DEBT ΤΟ

DIVISIONS EQUITY RATIO WAS 1:4.3. CASH GENERATED BY THE OPERATING WAS SUFFICIENT

ONGOING CAPITAL EXPENDITURE AND DEBT

REPAYMENT.

то

COVER

THE KCRC CARRIED 189 MILLION PASSENGERS IN 1991, AN INCREASE OF

13% 1990. PASSENGERS TO AND FROM LO WU INCREASED BY 5% OVER

TO 31

WHILE

AND THROUGH TRAIN TRAFFIC BETWEEN KOWLOON MILLION,

GUANGZHOU

ROSE BY 7% TO 2.5 MILLION.

MAJOR IMPROVEMENTS WERE MADE DURING

THE YEAR

ΤΟ

ENHANCE

SERVICES.

NINETY-SIX

THE

A

ALSO

NEW TRAIN CARS WERE DELIVERED BY OCTOBER 1991. NEW TRAIN TIMETABLE ACHIEVED AN AVERAGE PUNCTUALITY OF 96%. PROGRAMME TO INSTALL ADDITIONAL ESCALATORS AND REPLACE OLD ONES STARTED IN 1991.

ΤΟ

ON THE OTHER HAND, FREIGHT BUSINESS DROPPED SLIGHTLY OWING KEEN COMPETITION IN THE HONG KONG/CHINA FREIGHT MARKET, RESULTING IN A 4% DECLINE IN OVERALL TRAFFIC.

A STUDY ΤΟ EVALUATE FUTURE OPTIONS FOR THE KCRC'S FREIGHT STRATEGY HAS BEEN CARRIED OUT.

THE LIGHT RAIL TRANSIT SYSTEM CARRIED 95.7 MEANWHILE, PASSENGERS IN 1991, AN INCREASE OF 11.6% OVER 1990.

MILLION

THE THREE REGIONAL LINKS IN TUEN MUN WERE ALL COMMISSIONED FEBRUARY THIS YEAR.

BY

WORK HAS STARTED ON THE TIN SHUI WAI EXTENSION FOR COMPLETION IN EARLY NEXT YEAR.

THIRTY NEW LIGHT RAIL VEHICLES WILL BE DELIVERED STARTING

TO THE COOLING OCTOBER.

CAPACITY IMPROVEMENTS VEHICLES' AIR-CONDITIONING SYSTEM HAVE ALSO BEGUN.

OF

THE

THIS EXISTING

**IN SUM,

THE CORPORATION HAS CONTINUED TO OPERATE

**

SUCCESSFULLY, MR MACLEOD SAID.

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