XN000022-1994-04-26 — Page 5

TUESDAY, APRIL 26, 1994

THE PROPOSED FARE RISE WILL ONLY INCREASE THE CONSUMER PRICE INDEX (A) MARGINALLY BY 0.01 PER CENT.

IN 1994

THEY NOTED HYF'S OPERATING COSTS INCREASED BY 10.4 PER CENT 1993, AND WERE PROJECTED TO INCREASE BY ANOTHER 10.8 PER CENT IN

INCREASE IN AND 23.3 PER CENT IN 1995, LARGELY OWING TO SUBSTANTIAL REPAIR

MAINTENANCE COSTS, REPROVISION OF PIERS AFFECTED RECLAMATION WORKS, AND LOSS IN DISPOSAL OF REDUNDANT VESSELS CESSATION AND RATIONALISATION OF SERVICES.

AND

BY DUE TO

NEVERTHELESS, THE COMPANY HAS TRIED ITS BEST TO ECONOMISE

ROUTE THROUGH

FROM RATIONALISATION AND TO RAISE MORE REVENUE

OTHER SOURCES SUCH AS RENTAL AND ADVERTISING.

PATRONAGE

OPERATION OF FERRY SERVICES HAS BEEN ADVERSELY AFFECTED BY DECLINING

DUE TO STRONG COMPETITION FROM OTHER MODES OF PUBLIC TRANSPORT, THE INCONVENIENCE CAUSED BY RELOCATION OF PIERS AS A

USE OF RECLAMATION AND MORE COMMUTERS RESORTING TO ROAD RESULT COMPLETION OF NEW INFRASTRUCTURE PROJECTS.

WITH

ALL THESE FACTORS PUT THE COMPANY IN A DIFFICULT

FINANCIAL

POSITION.

MAKING

EVEN WITH THE PROPOSED FARE INCREASE, HYF WOULD NOT BE ANY PROFIT THIS YEAR. THE INCREASE WILL ONLY SERVE TO REDUCE ITS EXPECTED OPERATING LOSS IN 1994.

UP AT TODAY'S MEETING, MEMBERS ALSO ENDORSED A PROPOSAL TO SET CROSS HARBOUR TAXI STANDS ON A TRIAL BASIS. THERE IS A DEMAND FOR SUCH FACILITY AS INDICATED BY THE EXISTENCE OF INFORMAL CROSS HARBOUR TAXI STANDS.

THEY AGREED THAT TAXIS ACCEPTING A HIRE AT THESE STANDS NOT CHARGE ANYTHING EXTRA ABOVE A SINGLE TOLL CHARGE OF $10 AND FARE, PLUS BAGGAGE SURCHARGES WHERE APPLICABLE.

COMMUTERS WHO HIRE A TAXI FROM A CROSS HARBOUR PAY $10 LESS THAN THE EXISTING $20 FOLL FOR

WILL JOURNEYS.

SHOULD MATER

SERVICE STAND HARBOUR CROSS

DURING THE TRIAL, THE TRANSPORT DEPARTMENT, IN CO-OPERATION WITH THE POLICE AND THE TAXI TRADE, WILL MONITOR THE SITUATION CLOSELY AND ASSESS THE PRACTICABILITY OF THE SCHEME.

PUBLIC GOLF CENTRE PROPOSED IN KAU SAI CHAU

# #

*

THE GOVERNMENT IS PROPOSING TO BUILD AN INTERNATIONAL STANDARD PUBLIC GOLF CENTRE AT KAU SAI CHAU, A SPOKESMAN FOR THE RECREATION AND CULTURE BRANCH SAID TODAY (TUESDAY).

THE CONSTRUCTION OF THE PROJECT WILL BK SUPERVISED BY THE ROYAL HONG KONG JOCKEY CLUB.

FULLY FINANCED AND

/THE JOCKEY