XN000022-1994-09-07 — Page 9

WEDNESDAY, SEPTEMBER 7, 1994

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"EMPLOYERS SHOULD NOT SUBMIT DOUBLE APPLICATIONS FOR THE SAME VACANCY. OVERBIDDING WILL RESULT IN REFUSAL OF THE APPLICATIONS, THE SPOKESMAN ADDED.

FOR ENQUIRIES, EMPLOYERS MAY TELEPHONE 824 6111.

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LOCAL COMPANY RECEIVES R AND D FUND

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A LOCAL COMPANY HAS RECEIVED A $570,000 FUNDING BOOST FROM THE HONG KONG APPLIED R AND D FUND COMPANY LIMITED TO DEVELOP A RELIABLE AND HIGHLY SOPHISTICATED SECURITY SYSTEM THROUGH APPLIED RESEARCH AND DEVELOPMENT.

THE PROJECT, THE FOURTH SUCCESSFUL APPLICATION GRANTED FUNDING SUPPORT UNDER THE $200 MILLION APPLIED RESEARCH AND DEVELOPMENT (R AND D) SCHEME, AIMS TO PROVIDE THE HIGHEST POSSIBLE LEVEL OF SECURITY TO CLIENTS THROUGH THE UTILISATION OF DATA ENCRYPTION TECHNOLOGY.

THE ASSISTANT DIRECTOR-GENERAL OF INDUSTRY, MR RAYMOND YOUNG, SAID: "THE ULTIMATE GOAL OF THE SCHEME IS TO IMPROVE THE TECHNOLOGICAL CAPABILITY AND HENCE THE COMPETITIVENESS OF LOCAL INDUSTRY, THEREBY HELPING TO SUSTAIN HONG KONG'S ECONOMIC GROWTH.

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HE NOTED THAT THE SCHEME HAD SO FAR RECEIVED 28 APPLICATIONS AND MORE THAN 300 WRITTEN AND TELEPHONE ENQUIRIES.

"IN ADDITION TO THE FOUR CONTRACTS THAT HAVE BEEN SIGNED, FOUR OTHER APPLICATIONS HAVE ALSO BEEN APPROVED IN PRINCIPLE," HE SAID.

APPLICATIONS CAN BE MADE TO THE HONG KONG APPLIED R AND D FUND COMPANY LIMITED AT ROOM 1445, 14TH FLOOR, OCEAN CENTRE, 5 CANTON ROAD, KOWLOON.

ENQUIRIES CAN BE MADE ON TEL 737 2206 FOR DETAIL INFORMATION ON

THE SCHEME.

COMMENTING ON THE SECURITY SYSTEM PROJECT, MR YOUNG SAID: "IT IS CONSIDERED WORTH SUPPORTING SINCE IT HAS A HIGH DEVELOPMENT CONTENT AND IS A GOOD EXAMPLE OF APPLYING EXISTING TECHNOLOGY FOR THE

DEVELOPMENT OF NEW PRODUCTS."

THE PRODUCT IS TARGETED AT BOTH THE LOCAL AND ASIAN MARKETS AND ITS MAJOR USERS WILL INCLUDE MAJOR CORPORATIONS, HOTELS, SUPERMARKETS, POLICE STATIONS AND JEWELLERY SHOPS.

THE PROJECT, COSTING A TOTAL OF $1.8 MILLION, IS EXPECTED TO BE COMPLETED BY THE END OF THE YEAR.

THE COMPANY HAS COMMISSIONED THE HONG KONG PRODUCTIVITY COUNCIL TO UNDERTAKE THE APPLIED R AND D WORK REQUIRED.

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