XN000022-1992-06-10 — Page 3

WEDNESDAY, JUNE 10, 1992

2

DIVIDENDS TOTALLING ABOUT $56 BILLION (MONEY OF THE DAY] EXPECTED TO HAVE BEEN PAID TO THE GOVERNMENT BY AS EARLY AS 2010, A CUMULATIVE BASIS.

THIS RETURN COMPARES WITH AN INVESTMENT BY THE GOVERNMENT ONLY $16.6 BILLION EQUITY IN THE PLANNED AIRPORT AUTHORITY.

ARE

ON

OF

OTHER

ON THE BASIS OF THESE FINANCIAL FORECASTS, BANKS AND COMMERCIAL LENDERS ARE EXPECTED GENERALLY TO ACCEPT THE COMMERCIAL RISKS THEMSELVES ONCE THE AIRPORT OPENS IN 1997, SAID THE SPOKESMAN.

INTRODUCING THE REVENUE FORECASTS TO GOVERNMENT OFFICIALS EXPLAINED THAT THE GROWTH OF WILL BE SEVERELY CONSTRAINED IN THE NEXT FEW YEARS.

+

LEGCO MEMBERS ΚΑΙ TAK AIRPORT

REMOVE

THE OPENING OF THE AIRPORT AT CHEK LAP KOK WILL BOTTLENECKS AND RELEASE SUPPRESSED DEMAND WHICH WILL BE TRANSLATED INTO STRONG REVENUES IN THE YEARS AFTER THE AIRPORT OPENS.

THE POSITIVE CASH FLOWS OR OPERATING PROFITS - WILL START IN

1997, THE YEAR THE AIRPORT OPENS, WITH AN EXPECTED LEVEL OF

$3.27 BILLION (EXCLUDING FINANCING CHARGES).

REVENUES IN THAT YEAR ARE ESTIMATED AT $5.79 BILLION, INCLUDING THE FIRST INCOME FROM AERONAUTICAL CHARGES, COMMERCIAL REVENUES, AND PASSENGER TERMINAL CHARGES.

REPORT ON BAGUIO VILLA LANDSLIDE PUBLISHED

*

* *

OFFICE (GEO) HAS

SUBMITTED

A

INTO

THE GEOTECHNICAL ENGINEERING REPORT TO THE SECRETARY FOR WORKS CONCERNING ITS INVESTIGATIONS THE LANDSLIDE AT BAGUIO VILLA ON MAY 8.

IN

INVESTIGATIONS

HAD

THE

ITS REPORT,

THE THE GEO STATED THAT

FAR SUFFICIENTLY PROGRESSED

TO BE REASONABLY CERTAIN THAT TRIGGERED BY THE COLLAPSE OF A VERY OLD MASONRY WALL LANDSLIDE WAS SUPPORTING A FILL PLATFORM ADJACENT TO THE POKFULAM TEMPORARY HOUSING AREA (THA) DURING AN EXCEPTIONALLY INTENSE RAINSTORM.

GEO

WITH

IS CONTINUING

ITS INVESTIGATIONS

ΤΟ

WITH A

VIEW

BEEN

WALL, WHICH THERE

SINCE

THE ESTABLISHING THE REASONS FOR THE FAILURE OF THE MASONRY TOGETHER

THE FILL PLATFORM IS KNOWN TO HAVE BEFORE 1924.

DATE. 1990.

CONSTRUCTION 1988 AND

SO FAR, NO RECORDS HAVE BEEN FOUND OF THE ACTUAL

THE NEARBY TEMPORARY HOUSING AREA WAS BUILT BETWEEN

THE REPORT ALSO STATED THAT PRELIMINARY WORKS AT THE THA TO ELIMINATE ANY IMMEDIATE DANGER WERE COMPLETED ON MAY 20.

LEVEL

/THIS INVOLVED