XN000022-1994-10-28 — Page 25

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BANKING LICENCE REVOKED

FRIDAY, OCTOBER 28, 1994

(FRIDAY)

THAT THE BANKING HAS BEEN REVOKED

A GOVERNMENT SPOKESMAN SAID TODAY LICENCE OF BANCO ESPANOL DE CREDITO, S A (BANESTO) AT THE REQUEST OF THE BANK.

BANESTO, A BANK INCORPORATED IN SPAIN, HAS BEEN OPERATING IN HONG KONG AS A BRANCH LICENSED BANK SINCE 1992.

FOLLOWING THE BANK'S DIFFICULTIES IN SPAIN IN LATE 1993, BANESTO WAS ACQUIRED BY BANCO SANTANDER, A MAJOR SPANISH BANK AND IT BECAME A SUBSIDIARY OF THE LATTER BANK IN APRIL 1994.

THE NEW OWNER HAS DECIDED SUBSTANTIALLY то SCALE BACK BANESTO'S INTERNATIONAL OPERATIONS TO FOCUS ON DOMESTIC BANKING BUSINESS IN SPAIN.

AS A CONSEQUENCE, BANESTO HAS APPLIED FOR ITS BANKING LICENCE IN HONG KONG TO BE REVOKED.

"GIVEN THE CIRCUMSTANCES, IT IS UNDERSTANDABLE THAT BANESTO WISHES TO PARE DOWN ITS INTERNATIONAL OPERATIONS," SAID THE SPOKESMAN.

HE ADDED: "HONG KONG CONTINUES TO ATTRACT SIGNIFICANT INTEREST FROM INTERNATIONAL BANKS. SINCE JANUARY 1994, EIGHT BANKING LICENCES HAVE BEEN GRANTED TO OVERSEAS BANKS FROM SIX JURISDICTIONS.'

TI

THERE ARE NOW 178 LICENSED BANKS IN HONG KONG, OF WHICH 146 ARE INCORPORATED OUTSIDE THE TERRITORY.

PRE-QUALIFICATION INVITED FOR FLYING SERVICE HEADQUARTERS

**

THE ARCHITECTURAL SERVICES DEPARTMENT IS INVITING CONTRACTORS TO PARTICIPATE IN A PRE-QUALIFICATION EXERCISE FOR THE CONSTRUCTION OF THE GOVERNMENT FLYING SERVICE HEADQUARTERS AT THE NEW AIRPORT AT CHEK LAP KOK.

SCHEDULED TO START IN SEPTEMBER NEXT YEAR FOR COMPLETION IN 21 MONTHS, THE WORKS WILL INCLUDE THE DESIGN AND CONSTRUCTION OF THE HEADQUARTERS TO ACCOMMODATE A THREE-STOREY OFFICE BLOCK, AN AIRCRAFT HANGAR AND AN AIRCRAFT PARKING APRON AS WELL AS OTHER ANCILLARY FACILITIES.

ONLY CONTRACTORS ON THE APPROVED CONTRACTORS FOR PUBLIC WORKS LIST I IN GROUP C FOR BUILDING WORKS OR ON THE LIST II FOR BUILDING WORKS CAN APPLY FOR PRE-QUALIFICATION.

FROM

INTERESTED PARTIES MAY APPLY FOR PRE-QUALIFICATION DOCUMENTS THE SENIOR ARCHITECT/NEW AIRPORT, ARCHITECTURAL SERVICES DEPARTMENT, QUEENSWAY GOVERNMENT OFFICES, 66 QUEENSWAY, HONG KONG.

THE DEADLINE FOR SUBMISSION OF APPLICATIONS IS NOON ON DECEMBER 2, AND TENDERS

INVITED FROM THE PRE-QUALIFIED CONTRACTORS

IN MARCH.

WILL

BE

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