PART I (Cont'd)
CONFIDENTIAL *
Subject 0.. in ncing
(fousing i ociety
i state in ihatin.
Purpose
To finance
the Society's
rontal estate in Shatin.
Progress Made and Present Position
In June, the Society decided to seek
a syndicated loan from commercial lenders
to finance its wha Tin estate.
Next Quarter Target
To seek information from the Fousing bociety in order to ascertain wheth or not an approach to
In August, the Housing Society sought Government's agreement to either guaranted Finance Committee is the repayments of the Society's borrowings justified.
or to agree to subordinate its loans to
those of the commercial lenders. A series
of discussions took place with the result that Government agreed in
principle to the issue of a letter of support, the final draft of which is being examined by the lenders. In the meantime. the society has asked Government to finance its estate in Tuen Mun.
11.mporary
Industrial
Ireas.
Tocomodate
The problem of a shortfall in flatted admissible cleared factories was discussed at L.D.P.C. workshops in the on 5.10.78. It was agreed in principle temporary absence that sites totalling 20 acres be made of flatted factories available for Temporary Industrial
pending completion of sufficient new flatted factories by 1981.
Areas
Formal allocation of si and provision of resourc for the first three Temporary Industrial Ard is being pursued.
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CONFIDENTIAL *
GF 323
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