XN000022-1996-04-01 — Page 7

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"We shall continue to visit them in these three weeks to see if they need any help," he said.

As to the residents living in structures vulnerable to landslides, they are advised to move to Home Affairs Department's temporary shelters during heavy rain and typhoon, and to accept HD's rehousing offers on a voluntary basis as a long term solution.

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Hong Kong Note Printing Ltd

The Hong Kong Monetary Authority (HKMA) today (Monday) announced the completion of the acquisition of De La Rue's banknote printing plant in Tai Po. The name of the new company operating the banknote printing business is Hong Kong Note Printing Limited (HKNPL).

The transfer of ownership of the company took place smoothly in accordance with the Agreement signed between the Hong Kong Government and De La Rue in January.

A meeting of the Board of Directors of HKNPL was also held today under the Chairmanship of the Chief Executive of HKMA, Mr Joseph Yam. The four other Directors are: three senior executives from HKMA, Deputy Chief Executive (Monetary), Mr Andrew Sheng, Executive Director (Monetary Policy and Markets), Mr Norman Chan, Executive Director (Reserves Management), Mr John Nugee, and the newly appointed General Manager, Mr Peter So Lai-yin.

"We are very pleased that the transfer of ownership of the note printing operation has taken place smoothly. We are also very glad that Mr Peter So has been appointed as General Manager of the company.

"Mr So has had a distinguished career in the Police Force and his experience in the area of management and security will, I am sure, contribute to the efficient operation of the company," said Mr Yam.

"Although we have taken over the ownership and management of the note printing operation, De La Rue will continue to provide technical support and assistance to HKNPL through a Technical Agreement.

"Moreover, we will continue to have the expert advice and services of three senior expatriate staff from De La Rue who are thoroughly familiar with the technical aspects of the plant," he added.

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