XN000022-1994-05-27 — Page 20

FRIDAY, MAY 27, 1994

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FEES ON DISTRAINTS FOR RENT TO RISE

THE FEES TO BE LEVIED ON DISTRAINT FOR RENT AND ON THE ISSUE OF SUBPOENAS UNDER THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE WILL GO UP BY 10 PER CENT FROM JUNE 30,

THIS MEANS THAT THE FEE FOR USING A WATCHMAN TO KEEP CHARGE OF PROPERTIES HELD IN ARREAR OF RENT WILL BE INCREASED FROM $300 TO $330 PER DAY.

IN CASES WHERE A TENANT DISPUTES THE LANDLORD'S CLAIM AND WITNESSES HAVE TO BE SUBPOENAED, ADDITIONAL FEES FOR EACH SUBPOENA WILL BE RAISED FROM $50 TO $55.

DETAILS OF THE INCREASES ARE GIVEN IN THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE (AMENDMENT OF FOURTH SCHEDULE) NOTICE 1994 GAZETTED TODAY (FRIDAY).

EXPLAINING THE NEED FOR THE INCREASES, A GOVERNMENT

POINTED OUT THAT THE FEES WERE LAST REVISED IN 1992.

SPOKESMAN

THE NEW RATES WERE THEREFORE IN LINE WITH THE GOVERNMENT'S POLICY TO SET FEES AT LEVELS SUFFICIENT TO RECOVER THE FULL COST OF PROVIDING THE SERVICES, HE ADDED.

0

REPORT ON ASIA SECURITIES INTERNATIONAL LTD PUBLISHED

* *

THE

THE REPORT OF THE INVESTIGATION CARRIED OUT UNDER SECURITIES (DISCLOSURE OF INTERESTS) ORDINANCE (SDIO} REGARDING THE MEMBERSHIP OF ASIA SECURITIES INTERNATIONAL LIMITED {ASIL) FROM FEBRUARY 1991 TO EARLY JUNE 1993 HAS BEEN PUBLISHED TODAY (FRIDAY).

SECRETARY FOR FINANCIAL SERVICES, MR MICHAEL CARTLAND, SAID THE GOVERNMENT HAD FORWARDED A COPY OF THE REPORT TO ASIL AND REFERRED THE FINDINGS OF THE INVESTIGATION TO THE SECURITIES AND FUTURES COMMISSION (SFC) FOR POSSIBLE FOLLOW-UP ACTION.

ON JUNE 22, 1993, THE FINANCIAL SECRETARY APPOINTED MR STUART CROSBY OF THE SFC AN INSPECTOR UNDER SECTION 33 OF THE SDIO TO INVESTIGATE AND REPORT ON THE MEMBERSHIP OF ASIL IN ORDER TO DETERMINE THE TRUE PERSONS WHO ARE OR HAVE BEEN FINANCIALLY INTERESTED IN THE SUCCESS AND FAILURE OF THE COMPANY OR ABLE TO CONTROL OR MATERIALLY INFLUENCE ITS POLICY DURING FEBRUARY 1, 1991 TO JUNE 1, 1993 AND ON ANY SUBSEQUENT TRANSACTIONS IN SHARES MATERIAL TO THE INVESTIGATION.

MR CROSBY SUBMITTED HIS REPORT TO THE FINANCIAL

+

SECRETARY IN

LATE MARCH THIS YEAR.

THE SCOPE OF THE INVESTIGATION WAS LIMITED TO 60 MILLION SHARES IN ASIL SOLD BY ASIA SECURITIES LIMITED AND QUATRO ENTERPRISES LIMITED PURPORTEDLY TO MR WONG SHEU CHUI PURSUANT TO AN AGREEMENT DATED JUNE 28, 1991.

/THE SHARES

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