XN000022-1993-07-12 — Page 9

MONDAY, JULY 12, 1993

·

SALE OF OTB HAS YET BEEN AGREED

* * *

THAT

(MONDAY) EVENING CONFIRMED

A NUMBER OF INTERESTED TRUST BANK (OTB),

A GOVERNMENT SPOKESMAN THIS THE GOVERNMENT HAD BEEN IN DISCUSSIONS WITH PARTIES RELATING TO THE PROPOSED SALE OF OVERSEAS ONE OF WHICH IS GUOCO GROUP LIMITED.

STATEMENT

WITH

GUOCO GROUP LIMITED HAS ISSUED EARLIER TODAY A PRESS

IN CURRENTLY THAT STATING

DISCUSSIONS THE GROUP WAS GOVERNMENT IN RELATION TO THE PROPOSED SALE BY THE GOVERNMENT ENTIRE ISSUED SHARE CAPITAL OF OTB.

THE OF THE

THAT NO OR

"WE ALSO CONFIRM THAT THE DISCUSSIONS ARE ONGOING BUT TERMS FOR THE PROPOSED SALE OF OTB HAVE YET BEEN AGREED WITH GUOCO ANY OTHER INTERESTED PARTIES,' THE SPOKESMAN SAID.

11

WITH

FURTHER "THE GOVERNMENT WILL, HOWEVER, ISSUE A HOPEFULLY BEFORE THE END OF JULY IF AND WHEN THE TERMS THE INTERESTED OF OTB ARE AGREED

ANY ONE OF

PRESS RELEASE FOR THE SALE THE PARTIES,

T

SPOKESMAN SAID.

0

KEMPSTER REPORT PART II SUBMITTED TO GOVERNOR

A GOVERNMENT SPOKESMAN CONFIRMED TODAY (MONDAY) THAT MR JUSTICE KEMPSTER HAD SUBMITTED PART 1 OF HIS INQUIRY REPORT ON WITNESS PROTECTION TO THE GOVERNOR.

"ARRANGEMENTS ARE NOW BEING MADE FOR THE ENGLISH VERSION OF THE REPORT TO BE PRINTED. IT WILL BE PUBLISHED ON JULY 16, 1993. THE FULL CHINESE VERSION OF THE REPORT WILL BE MADE AVAILABLE AS SOON AS THE NECESSARY TRANSLATION AND PRINTING WORK IS COMPLETED, THE SPOKESMAN SAID.

"

HK'S INDUSTRIAL RESTRUCTURING EXPLAINED

*

THE MOVEMENT OF HONG KONG'S INDUSTRIES ΤΟ SOUTHERN CHINA SHOULD BE VIEWED AS AN EXPANSION OF HONG KONG'S INDUSTRIAL

THE

DEPUTY DIRECTOR-GENERAL OF (MONDAY).

BASE. INDUSTRY, MR RICKY FUNG, SAID TODAY

SPEAKING AT AN OECD WORKSHOP IN PARIS ON FOREIGN DIRECT INVESTMENT, MR FUNG SAID SINCE THE OPENING OF CHINA IN 1979, HONG KONG'S INDUSTRIALISTS HAD MADE CONSIDERABLE USE OF LOWER LABOUR AND

ON A MUCH LARGER SCALE LAND COSTS FOR THE MANUFACTURING

-

-

OF GOODS.

INVESTMENT,

"AND HONG KONG CONTINUES TO PLAY A LEADING ROLE ON MANAGEMENT, LINKAGE MATERIALS, FINISHING, AND RE-EXPORTING," HE SAID.

/MR FUNG