XN000022-1993-10-13 — Page 29

WEDNESDAY, OCTOBER 13, 1993

14

ACTION

ΤΟ

ON

APPLIED то

HE SAID THE GOVERNMENT WOULD CONTINUE TO TAKE FIRM ENSURE THAT FOREIGN PASSENGER SHIPS BASED IN HONG KONG AND ENGAGED EXCURSION VOYAGES WOULD MEET THE SAME SAFETY STANDARD AS LOCAL REGISTERED VESSELS.

CARRYING

PASSENGERS

SEAS HAVE BEEN

IN THIS CONNECTION, EVEN THE TWO VESSELS FROM HONG KONG FOR GAMBLING ACTIVITIES ON THE HIGH INSPECTED AND PASSED THE EXAMINATION, HE SAID,

USING

MEANTIME, MR SUEN ALSO ASSURED COUNCILLORS THAT LAW ENFORCEMENT AGENCIES WOULD CONTINUE TO MONITOR THE ACTIVITIES OF ALL SHIPS THE PORT, INCLUDING THOSE ON EXCURSION VOYAGES.

AND

NO

J

BETWEEN

OPERATING KONG

VESSELS WILL BE MADE DISTINCTION EXCURSION VOYAGES TO THE OPEN SEA AND THOSE PLYING BETWEEN HONG AND NEARBY PORTS.

RENTS FOR PUBLIC HOUSING ESTATES ARE LOWER THAN COST

"COST RENT" HAS NO DIRECT BEARING ON THE RENTS SET FOR THE HOUSING AUTHORITY'S ESTATES WHICH TAKE INTO ACCOUNT SUCH FACTORS AS TENANTS' AFFORDABILITY, COMPARATIVE ESTATE VALUES, INFLATION, GENERAL HOUSEHOLD INCOME TRENDS, MANAGEMENT AND MAINTENANCE EXPENDITURE AND RATES.

THIS WAS STATED BY THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS. MR TONY EASON, TODAY (WEDNESDAY) IN A WRITTEN REPLY ΤΟ A QUESTION BY THE HON TAM YIU-CHUNG IN THE LEGISTRATIVE COUNCIL.

MR EASON SAID THEORETICALLY RENTS WOULD HAVE TO BE SET то RECOVER THE AMORTISEU CAPITAL COST AND OPERATING EXPENSES IN PROVISION OF PUBLIC RENTAL HOUSING, BUT IN PRACTICE, THE RENTS CHARGED WERE LOWER THAN THE COST RENT FIGURES, WHICH WERE USED AS REFERENCE.

HE EXPLAINED THAT THE COST RENT FIGURES FOR NEWLY COMPLETED ESTATES WERE DERIVED FROM TENDER PRICES FOR INDIVIDUAL BUILDING PROJECTS AND THEIR PROVISIONAL RATEABLE VALUES, AND THEREFORE THE COST RENT FIGURES FOR NEW ESTATES, ESTATES IN URBAN AREA AND THE NEW TERRITORIES WERE DIFFERENT.

CONCERNING

THE METHODOLOGY AND

FACTORS

TAKEN

INTO CONSIDERATION, MR EASON NOTED THAT THE CAPITAL COST COMPRISED BUILDING COST, FEES, OVERHEADS, AS WELL AS INTEREST CHARGES DURING

CONSTRUCTION.

"THE CAPITAL COST IS DEPRECIATED, ON A STRAIGHT LINE BASIS, OVER THE EXPECTED LIFE-SPAN OF THE BUILDING OVER 40 YEARS WITH INTEREST AT 5%. ADDED TO THIS ARE THE OPERATING EXPENSES MADE UP OF MANAGEMENT, MAINTENANCE CHARGES AND PROVISIONAL RATES ETC.

TO

"THE TWO COMPONENTS PUT TOGETHER BECOME THE ANNUAL COST NEEDED PRODUCE AND UPKEEP A BATCH OF ESTATES, WHICH IS THEN TRANSLATED INTO AN AVERAGE MONTHLY COST RENT FOR COMPARISON PURPOSE IN RENT SETTING EXERCISE, HE SAID.

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