XN000022-1994-10-09 — Page 3

N

SUNDAY, OCTOBER 9, 1994

THE OTHER BIDDER

CONSORTIUM TSING YI CONTAINER TERMINAL PRIMARILY INVOLVED JARDINES, SEALAND, SUN HUNG KAI PROPERTIES AND EXPERIENCE THE CONTAINER TERMINAL OPERATING WORLD DEVELOPMENT. PROVIDED BY SEALAND.

IN

ORDER

NEW WAS

SPLIT INTO TWO

ΤΟ ENCOURAGE COMPETITION, CT9 WAS BERTHS FOR HIT AND MTL, AND TWO BERTHS FOR THE TSING YI CONSORTIUM.

CLEAR THAT

ΤΟ

THE GREATER HONG KONG

MRS

"I CHAN SAID:

THINK IT IS PERFECTLY ARRANGEMENTS WE

DID IN FACT OPEN UP THE PROJECT MADE COMPETITION

THEREBY PRODUCE A BETTER DEAL FOR THE TAXPAYER AND MAXIMISE THE EFFICIENCY OF OUR PORT OPERATIONS, WHICH ARE SO VITAL TO OUR INTERNATIONAL TRADING POSITION.

AND

"IT IS A GREAT PITY THAT THIS PROJECT HAS BEEN DELAYED FOR MORE THAN 18 MONTHS NOW, CAUSING CONSIDERABLE DAMAGE TO OUR ECONOMY.

"THE PORT IS BECOMING INCREASINGLY CONGESTED AND WE BADLY

SUSTAIN FACILITIES IF WE ARE TO CONTAINER

ADDITIONAL GROWTH.

OUR

NEED

ECONOMIC

I URGE THE "IN THE INTERESTS OF MAINTAINING OUR PROSPERITY, CHINESE SIDE TO ALLOW THE PROJECT TO PROCEED WITHOUT FURTHER DELAY.'

"

TRANSCRIPT OF THE FINANCIAL SECRETARY'S MEDIA SESSION

ΤΟ

THE FINANCIAL SECRETARY, SIR HAMISH MACLEOD, HAS RETURNED HONG KONG TODAY (SUNDAY) AFTER ATTENDING THE WORLD BANK/IMF MEETING IN MADRID. THE FOLLOWING IS A TRANSCRIPT OF HIS REMARKS AT THE AIRPORT:

HI, IT'S NICE TO BE BACK.

FS:

I'VE HAD A VERY GOOD WEEK IT SEEMS LIKE

LONGER. MUCH

OF MAINLY, TWO THINGS

COURSE.

THE FIRST, DOING ALL

SIGNING AND WE FINALISING THE APPROVAL FOR US TO HOST THE IMF MEETING IN 1997. HAVE A BIG TEAM THERE; SOME OF THEM ARE STILL THERE WORKING ON WELL, WATCHING WHAT HAPPENS EVEN AFTER THE MEETING, IN TERMS OF FOLLOW UP.

OF SECONDLY,

COURSE, AND AS IMPORTANTLY, I TOOK THE то SPEAK, IN PUBLIC AND IN PRIVATE, TO A LOT OF SPANISH AND

I GOT THE USUAL SORTS OF QUESTIONS, BANKERS. THE ONE HAND THEY WANT TO KNOW, THEY WANT TO HEAR,

HOW THE TRANSITION IS GOING. IN 1997, THEY DO ASK ABOUT COSTS HERE I WAS

ALSO,

—

CHANCE BUSINESSMEN I WOULD SAY. ON WHAT MAY HAPPEN AT THE MOMENT,

AND PROPERTY COSTS ASPECT. BUT ABLE TO BRING THEM UP TO DATE ON THAT

I'M FINDING IS THAT THEY ARE

VERY STILL

MUCH PLUS THAT HONG KONG AS A NATURAL GATEWAY TO CHINA. THEY ARE VERY KEEN TO

AND

INVEST

AWARE THAT

HOPEFUL.

-

PARTICULARLY

-

THE BIG REGARDING

THEY

THINK

THAT

TRADE ARE IS

AND FOR CHINA, MORE, BOTH HERE AND IN CHINA. THEY NEED SOME EXPERT

ASSISTANCE.

SO I

/THE FACT