XN000022-1994-11-25 — Page 21

FRIDAY, NOVEMBER 25, 1994

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TOKYO TOMIN BANK GRANTED LICENCE

A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY) THE TOKYO TOMIN BANK, LTD (TTB) HAD BEEN GRANTED A BANKING LICENCE TO CONDUCT BUSINESS IN HONG KONG.

TTB WAS ESTABLISHED IN 1951. IT IS A REGIONAL BANK BASED IN TOKYO WITH 81 BRANCHES IN JAPAN AND AN OVERSEAS BRANCH IN NEW YORK. IT IS THE 55TH LARGEST BANK IN JAPAN AND RANKS 238TH IN THE WORLD IN TERMS OF CAPITAL.

IN HONG KONG, TTB HAS BEEN OPERATING A REPRESENTATIVE OFFICE SINCE 1987. IT ALSO HAS A DEPOSIT-TAKING COMPANY SUBSIDIARY WHICH WAS ESTABLISHED IN 1990.

THE BANK WISHES TO UPGRADE THE REPRESENTATIVE OFFICE TO A BRANCH TO OFFER A WIDER RANGE OF BANKING SERVICES TO ITS CLIENTS, WHO HAVE BUSINESS TRANSACTIONS IN HONG KONG, CHINA AND OTHER SOUTHEAST ASIAN COUNTRIES.

THE PRINCIPAL BUSINESS OF THE PROPOSED BRANCH INCLUDES CORPORATE FINANCE, LOAN SYNDICATION, FOREIGN EXCHANGE TRANSACTIONS AND SECURITIES INVESTMENTS.

IN

THE SPOKESMAN SAID THE CONTINUING INTEREST OF FOREIGN BANKS ENTERING THE LOCAL MARKET REFLECTED HONG KONG'S CONTINUED IMPORTANCE AND ATTRACTIVENESS AS A MAJOR INTERNATIONAL FINANCIAL CENTRE.

1994.

THE LICENCE FOR TTB IS THE NINTH BANKING LICENCE GRANTED IN

THERE ARE NOW 179 LICENSED BANKS IN HONG KONG, OF WHICH 147 ARE INCORPORATED OUTSIDE THE TERRITORY. OF THESE, 42 ARE FROM JAPAN.

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LANDS TO BE RESUMED FOR AIRPORT RAILWAY WORKS

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THE GOVERNMENT WILL ACQUIRE PRIVATE PROPERTY IN CENTRAL FOR CONSTRUCTING THE CENTRAL SUBWAY WHICH IS AN ESSENTIAL PASSENGER LINK BETWEEN THE EXISTING MASS TRANSIT RAILWAY CENTRAL STATION AND THE NEW HONG KONG CENTRAL STATION AT CENTRAL. RECLAMATION, THE GOVERNMENT GAZETTE NOTIFIED TODAY (FRIDAY).

A GOVERNMENT SPOKESMAN SAID THE PRIVATE LAND TO BE ACQUIRED WAS IN ONLY A PORTION OF THE UNDERGROUND STRATUM BENEATH EXCHANGE SQUARE CENTRAL AND WAS THE MINIMUM NECESSARY TO IMPLEMENT THE PROJECT.

ANY PERSON ENTITLED TO COMPENSATION UNDER THE MASS TRANSIT SUBMIT RAILWAY (LAND RESUMPTION AND RELATED PROVISIONS) ORDINANCE MAY A WRITTEN CLAIM TO THE DIRECTOR OF LANDS WITHIN ONE YEAR AFTER RESUMPTION NOTICE.

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