XN000022-1992-12-24 — Page 7

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THURSDAY, DECEMBER 24, 1992

GARMENT TRADERS FINED FOR MAKING FALSE DECLARATIONS

FIVE GARMENT EXPORTERS AND MANUFACTURERS WERE FINED AT TUEN MUN MAGISTRACY THIS (THURSDAY) MORNING A TOTAL OF $710,000 ON 38 COUNTS OF FALSELY DECLARING 46,740 PIECES CHINA-PROCESSED ANORAKS AND PANTS AS PRODUCTS OF HONG KONG ORIGIN IN APPLICATIONS FOR EXPORT LICENCES.

ALL OF THE DEFENDANTS PLEADED GUILTY.

THEY WERE MR WONG CHUN-KWOK, MANAGER OF P & H TEXTILES. FINED $150,000; MS NIP KA-MAN, PARTNER OF SUT HONG GARMENT FACTORY. FINED $150,000; SOONCREATIVE LIMITED, FINED $350,000; MS WONG FUNG-KWAN, DIRECTOR OF SOONCREATIVE LIMITED AND PARTNER OF ONTEX GARMENT FACTORY, THREE MONTHS' IMPRISONMENT, SUSPENDED FOR 12 MONTHS AND TO PAY COURT COST $4,000; AND MS KOH YOON-DIN, PARTNER OF SUI HONG GARMENT FACTORY, FINED $60,000.

+ CUSTOMS SENIOR TRADE CONTROL OFFICER, MR CHEUNG KA-KUI, TOLD THE COURT THAT THE DEFENDANTS APPLIED EXPORT LICENCES REGARDING THE ORIGIN OF 46,740 PIECES OF 100 PER CENT NYLON WOVEN ANORAKS AND PANTS VALUED AT $3.27 MILLION.

OF THESE, 24,600 PIECES WERE CUT AND SEWN IN CHINA WHILE THE REMAINING 22,140 PIECES WERE SEWN IN CHINA.

THE DEFENDANTS MADE FALSE DECLARATIONS IN THE APPLICATIONS FOR EXPORT LICENCES THAT THE GOODS WERE OF HONG KONG ORIGIN FOR EXPORT TO THE UNITED KINGDOM AND AUSTRIA UNDER HONG KONG QUOTAS.

ALL THE DEFENDANTS WERE REPRESENTED BY RONALD MAYNE.

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * * *

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSE OF LAF

NET INJECTION/WUTHDRAWAL TODAY

BARRISTER-AT-LAW

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER TWI 114,0 *+0.0* 24.12.1992

HONG KONG

MR

$ MILLION

1,500

NIL

1,500

NIL

NIL

1,500