XN000022-1994-10-15 — Page 5

SATURDAY, OCTOBER 15, 1994

PROBLEM.

IN

NEED

LOT

THE

THE

CS: (IN CANTONESE) THE CT-9 ISSUE DOES NOT INVOLVE ANY LEGAL WE'RE SORRY TO SEE THAT THE CONSTRUCTION OF CT9 HAS BEEN POSTPONED FOR 18 MONTHS, WHILE HONG KONG'S PORT FACILITIES ARE IN A DESPERATE FOR FURTHER EXPANSION. WE HAVE SUPPLIED THE CHINESE SIDE WITH A

BUT IT AND HAVE ANSWERED ALL THEIR QUERIES. OF

IS OF INFORMATION

CHINESE SIDE REGRET THAT THE

STILL HAS NOT

то AGREED

LET

CT-9 TO GO AHEAD.

THAT WE SINCERELY HOPE CONSTRUCTION OF PROCESS OF DECIDING WHICH COMPANY SHOULD BE GIVEN THE OPERATION RIGHTS HONG KONG OF CT-9, WE DON'T HAVE TO MAKE ANY POLITICAL CONSIDERATION. HAS HAD VERY GOOD REPUTATION FOR ITS FAIRNESS IN HANDLING TENDERING OF CONTRACTS. THAT PRINCIPLE OF FAIRNESS ALSO APPLIES TO CT-9 RIGHTS. OUR DECISION WAS REACHED AFTER VERY CAREFUL CONSIDERATION TAKING INTO ACCOUNT THAT WE SHOULD BRING IN MORE COMPETITION CONTAINER INDUSTRY. THEREFORE WE HOPE TO HAVE A NEW COMPANY, YOU KNOW THAT NEW COMPANY HAS FOUR PARTNERS', WE ARE STILL

THE CHINESE SIDE, AND WE HAVE MET THE THREE THE ISSUE PRINCIPLES STATED BY CHINA. WE HOPE CHINA WILL AGREE IN THE VERY NEAR FUTURE THAT WE SHOULD GO AHEAD TO BUILD CT-9.

OPERATION

AND IN THE AND AS

DISCUSSING

BASIC

Q:

CANTONESE) (IN (INAUDIBLE)

CT-9

POSTPONEMENT

ANY COMPENSATION

IS

CS: (IN

BY CANTONESE) THE DELAY, WHICH LOOKS LIKE CAUSED

POLITICAL REASONS, OF COURSE IS A CONCERN FOR INVESTORS. FOR HONG KONG, IT IMPORTANT TO MAINTAIN INVESTORS' CONFIDENCE, AND INVESTORS HAVE CONFIDENCE IN HONG KONG BECAUSE OF ITS FAIRNESS AND OPENNESS.

Q: (IN CANTONESE) OVERSEAS INVESTMENT

THAT

THIS

AFTER 1997 (INAUDIBLE)

CS:

CANTONESE) (IN

THE CHINESE SIDE DID NOT STATE CLEARLY CONTRACTS WOULD NOT BE GIVEN TO COMPANIES WITH BRITISH INTEREST.

MATTER OF CONCERN FOR US ALL. IS A

ANY WE DO NOT WANT

POLITICAL,

OR RACIAL

NATIONALITY FACTORS ΤΟ INFLUENCE OUR USUAL TENDERING

INTERNATIONAL PROCEDURE.

INVESTORS SHOULD NOTE THAT THE JOINT AND DECLARATION CLEARLY STATES THAT HONG KONG WILL CONTINUE ITS USUAL CURRENT ECONOMIC AND FINANCIAL PRACTICES AND ARRANGEMENTS. AS TO THAT TENDERING OF CONTRACTS BEYOND 1997, WE ARE TOO HAPPY TO DISCUSS

CHINESE SIDE, BUT WE HOPE THE CHINESE SIDE WITH POLITICAL FACTOR TO GET INVOLVED IN DECISION-MAKING.

THE

WILL NOT

LET

FROM

Q: (IN CANTONESE) HOW CAN YOU GUARANTEE THAT FUTURE INVESTMENTS CANADA AND THE UNITED STATES WILL NOT BE AFFECTED BY POLITICAL FACTORS?

CS: (IN CANTONESE) OF COURSE, I CANNOT GUARANTEE. BUT UNDER THE JOINT DECLARATION AND THE BASIC LAW, THE FUTURE SAR GOVERNMENT HAS A HIGH- LEVEL OF AUTONOMY. THE MOST URGENT TASK FOR THE HONG KONG GOVERNMENT IS TO MAKE SURE THAT ALL ARRANGEMENTS SHOULD BE IN

FOR PLACE FUTURE SAR GOVERNMENT TO ENJOY THAT HIGH-LEVEL OF AUTONOMY. THINK THIS IS MY BEST GUARANTEE.

THE

AND I

/Q: