XN000022-1993-07-16 — Page 13

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FRIDAY, JULY 16, 1993

FIRST

TOTAL DIVIDENDS DECLARED BY THE OFFICIAL RECEIVER DURING THE HALF OF THIS YEAR AMOUNTED то $121.1 MILLION IN 125 INSOLVENCIES, AS AGAINST $72.76 MILLION IN 117 INSOLVENCIES FOR CORRESPONDING PERIOD OF 1992.

THE

BY

THERE WERE 10 SCHEMES OF ARRANGEMENT/COMPOSITIONS APPROVED THE COURT DURING THE PERIOD, AS COMPARED WITH SEVEN FOR THE SAME PERIOD IN THE PREVIOUS YEAR.

THE TOTAL NUMBER OF ACTIVE INSOLVENCY CASES BEING HANDLED BY THE OFFICIAL RECEIVER'S OFFICE AT THE END OF JUNE WAS 1,983, REPRESENTING 1,190 COMPULSORY COMPANY LIQUIDATIONS AND 793 PERSONAL BANKRUPTCIES.

FUNDS ADMINISTERED BY THE OFFICIAL RECEIVER AT THE END OF JUNE THIS YEAR (EXCLUDING FUNDS PERTAINING TO THE BCCHK LIQUIDATIONS WHICH WERE PUBLISHED IN APRIL 1993) TOTALLED $1,217 MILLION AS COMPARED WITH $1,416 MILLION AT THE END OF JUNE LAST YEAR, REPRESENTING A REDUCTION OF $199 MILLION.

ADMINISTERED THE SUMS

OF

THE OFFICIAL RECEIVER ALSO US$2 MILLION (US$2.3 MILLION AT THE END OF JUNE 1992) AND JAPANESE YEN 13 MILLION (NIL AT JUNE 30, 1992).

FURTHER IMPROVEMENT TO KOWLOON SEWER SYSTEM IN THE PIPELINE * * * * *

THE DRAINAGE SERVICES DEPARTMENT WILL SPEND ANOTHER $80 MILLION TO FURTHER IMPROVE THE SEWERAGE SYSTEM IN NORTHWEST KOWLOON.

NORTHWEST KOWLOON IS AN OLD RESIDENTIAL AND INDUSTRIAL AREA WITH SEWERAGE BASINS IN LAI CHI KOK, SHAM SHUI PO AND YAU MA TEI,

THE MAJOR PROBLEMS ASSOCIATED WITH THE SEWERAGE SYSTEM ARE THAT ABOUT ONE-THIRD OF THE SEWAGE IS BEING DISCHARGED THROUGH STORM DRAINS TO COASTAL WATERS WITHOUT TREATMENT AND PART OF THE SYSTEM HAS INADEQUATE CAPACITY.

TO RESOLVE THE PROBLEMS, THE DRAINAGE SERVICES DEPARTMENT IS CARRYING OUT AN IMPROVEMENT PROJECT

NORTHWEST KOWLOON SEWERAGE PROJECT

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IN THREE STAGES.

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STAGE I WORKS INVOLVING INTERCEPTION OF THE POLLUTED FLOW IN THE STORM DRAINS AND DIVERTING IT TO THE EXISTING SEWERAGE SYSTEM HAVE BEEN INCORPORATED INTO THE WEST KOWLOON RECLAMATION PROJECT. THE WORKS WILL START IN LATE 1993.

THE PROJECT TOOK ANOTHER MAJOR STEP FORWARD THIS (FRIDAY) AFTERNOON WITH THE ENGAGEMENT OF A CONSULTANCY FIRM FOR THE STAGE II WORKS BY THE DEPARTMENT.

THE FIRM, MONTGOMERY WATSON HONG KONG LIMITED, WILL CARRY OUT DETAILED DESIGN AND SUPERVISION OF THE CONSTRUCTION WORKS ΤΟ REPLACE OLD TRUNK AND BRANCH SEWERS IN 14 LOCATIONS 80

AS TO INCREASE THE CAPACITY OF THE SEWERAGE SYSTEMS IN LAI CHI KOK, SHAM SHUI PO AND YAU MA TEI.

/THE WORKS