XN000022-1994-05-11 — Page 13

11

WEDNESDAY, MAY 11, 1994

IN

THE

BE REFURBISHED

ACCOMMODATION

TO

IN PROVIDE

MEANTIME, THE COMMISSION'S EXISTING MURRAY ROAD CAR PARK

WOULD BUILDING ADDITIONAL SPACE, HE SAID.

OFFICES

"BY THE END OF 1995 THE COMMISSION, EXCLUDING REGIONAL AND THE ICAC TRAINING SCHOOL, WILL BE HOUSED IN OWNED ACCOMMODATION IN EITHER MURRAY ROAD CAR PARK BUILDING OR FAIRMONT HOUSE NEARBY.

"THIS

MANPOWER CENTRALISATION OF ACCOMMODATION AND WILL GREATLY ENHANCE MANAGEMENT AND OPERATIONAL EFFICIENCY,

ON

OF THE ICAC'S

RESOURCES ** HE SAID.

TSANG

MR

SAID HAD RECENTLY

ISSUE SECURITY

PREMISES, SECURITY ARRANGEMENTS AT MURRAY ROAD CAR PARK BUILDING BEEN STRENGTHENED AND THE PROPOSED REFURBISHMENT WOULD FURTHER UPGRADE SECURITY.

HOME MORTGAGE LOAN POLICY

*

A

THE GOVERNMENT WAS AWARE THAT, GENERALLY, BANKS WERE TAKING MORE CAUTIOUS APPROACH TOWARDS MORTGAGE LENDING ON OLDER PROPERTIES, THE SECRETARY FOR FINANCIAL SERVICES, MR MICHAEL CARTLAND, SAID TODAY (WEDNESDAY).

NORMALLY THE AGE OF THE PROPERTY AND THE TERM OF THE MORTGAGE TOGETHER WOULD NOT EXCEED 30 YEARS. FOR SOME BANKS, THE LENDING RATIO MAY BE LOWER FOR OLDER PROPERTIES.

MR CARTLAND SAID MAJOR REASONS INCLUDED THE POORER MARKETABILITY, HIGHER COST OF MAINTENANCE AND DETERIORATING QUALITY OF THESE PROPERTIES RELATIVE TO NEWER PROPERTIES,

REPLYING ΤΟ A QUESTION BY THE HON LEE WING-TAT IN THE LEGISLATIVE COUNCIL, HE SAID: "IT IS NOT THE POLICY OF THE GOVERNMENT TO INTERFERE WITH COMMERCIAL DECISIONS ON THE PART OF BANKS UNLESS THERE ARE GOOD PRUDENTIAL REASONS TO DO SO.

**IN PARTICULAR, WE NEED ΤΟ BR CAUTIOUS ABOUT TRYING TO INFLUENCE BANKS TO ASSUME HIGHER RISKS THAN THEY MIGHT OTHERWISE WISH TO TAKE, HE ADDED.

++

LOCAL BREWERIES ENJOY DROP IN DUTY

LATEST

INDICATIONS SHOWED THAT LOCAL BREWERIES WOULD ENJOY A SUBSTANTIAL REDUCTION IN DUTY PAYMENT UNDER THE NEW DUTY SYSTEM, THE SECRETARY FOR THE TREASURY, MR DONALD TSANG, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THE CUSTOMS AND EXCISE DEPARTMENT IS ASCERTAINING THE PRECISE TAXABLE VALUES OF THEIR PRODUCTS.

/IN A