γ
MTR.
23
10 818/9
00 E C G D
jra
HKK 173!
150r
GR 610
DESKBY 091200Z
CYPHER CAT A
FM B T C HONG KONG 390740Z
CONFIDENTIAL
DESKBY 091206Z
IN
XR3 19/12
ADVANCE COPY COPY
ECGD HD/MK at to TRED
Jas
(xenx 2):2
Сексът
DIST]
TO IMMEDIATE E C G D TELNO EXCED 32 OF 9 DECEMBER 1977.
FOR COTTERILL, KEMP AND BREACH ECGD FROM BRICH.
1. MY SITREP FOLLOWS AS AT FRIDAY NOON.
2. SINCE ARRIVAL WE HAVE HAD MEETINGS WITH HADDON-CAVE, TO DISCUSS HONG KONG BANKS TERMS FOR FINANCE, WARDLEYS (BACON) FOR SAME AND SCHRODER CHARTERED TO HAVE REPORT ON EXXONS DECISION ON SECURITY, BORROWING STRUCTURES ETC. WE ALSO SAW THOMPSON TODAY TO DISCUSS METCAM RAILCAR OPTION. WE HAVE SEEN SANKEY OF DEPT. OF ECONOMIC SERVICES TO DISCUSS EXCO'S DECISION ON SCHEME CF CONTROL. WE ALSO MET KLEINWORT BENSON AND JARDINE FLEMING (THEIR OF LOCAL FINANCIAL ADVISORS), TO EXAMINE THEIR PROPOSALS FOR HONG KONG DOLLAR FINANCING THROUGH BOND MARKET FOR MASS TRANSIT TO ESTABLISH WHETHER THEY MIGHT BE APPLIED FOR CLP. THEY WOULD APPEAR TECHNICALLY FEASIBLE, BUT WOULD INVOLVE NUMBER OOF COMPLEXITIES AND MAY NOT BE FAVOURED BY HADDON-CAVE.
3. AT OUR MEETING WITH FINANCIAL SECRETARY, HADDON-CAVE APPEARED ANXIOUS TO ASSIST US IN REACHING AGREEMENT WITH WARDLEYS. HIS OPINION WAS THAT THEY WANTED TO LEND SUM INVOLVED AND WOULD BE PREPARED TO NEGOTIATE ON SPREADS ETC. HE ASKED TTO BE KEPT INFORMED OF DEVELOPMENTS AND WISHED TO HAVE OPPORTUNITY OF SPEAKING HIMSELF WITH HONG KONG AND SHANGHA! AND WARDLEYS BEFORE NEGOTIATIONS FOUNDERED.
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