TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 39

4. Construction Costs (Continued)

During the year the Board approved proposals for extending the Modified Initial System (MIS) to Tsuen Wan and authorised feasibility studies for a possible Island Line. Included under the appropriate headings

above is the following expenditure relating to these projects:

續四、興建工程費用

是年內,董事局批准將「修正早期系統』 擴建至荃灣之提議,並授權對港島綫興建之 可行性進行調查。此兩項計劃之有關開支, 已計入以上之適當項目內,並列如下:

1977

1976

$000

$000

千元

千元

Tsuen Wan Extension 荃灣支綫

Island Line 港島綫 ·

As already explained in note 1(b), expenditure incurred on main contract costs at 31 December 1977 ($1,609million) is, in respect of foreign currency amounts, stated using the rates of exchange prevailing at the actual dates of payment. These rates,

compared with those specified in each

respective contract, have had the effect of

reducing the value of expenditure incurred

on main contract costs by $7.6 million

at 31 December 1977 (1976—— $5.4 million).

Interest payable on bank overdrafts and

other short term loans under "Railway

Construction” of $47.7 million includes

$8.3 million credited to “Estates Develop-

ment" in respect of the short term excess of

deposits received over expenditure incurred

on Estates Development (note 9).

5. Vested Materials

Certain contracts contain clauses which

allow materials to be purchased in advance of requirements. At 31 December 1977 $97 million (1976 $22 million) had been so purchased and the materials formally vested in the Corporation. The materials are valued at cost and will be fully incorporated into the main contract costs prior to completion of the relevant contracts. At 31 December 1977 $36 million had been incorporated, leaving a balance of $61 million.

6. Bank Balances and Cash In Hand

19,600

116

140

-

116

19,740

如同已在附註一(乙)內所解釋,截至 一九七七年十二月卅一日止之主要工程合約 開支(十六億零九百萬元)中,如為外幣金 額,均按實際支付日之兌換率折成港元示出 。與採用各工程合約內所規定之兌換率比對 ,採用上述兌換率計算時,截至一九七七年 十二月卅一日止之主要工程合約開支金額共 減少七百六十萬元(一九七六年為五百四十 萬元)

。

※地下鐵路興建”項下應付之銀行透支 及其他短期貸款利息四千七百七十萬元,包 括已記入“物業發展”貸方之八百三十萬元。 此乃所收按金比物業發展支出之短期超出額 之應付利息(附註九)。

五、承建商付託之建築材料

若干工程合約包括有可提前購買材料之 條欸。截至一九七七年十二月卅一日止,共 有九千七百萬元(一九七六年為二千二百萬 元)用於購買材料,而且材料已正式付託於 本公司。此類材料原值計算,並將在有關工 程合約完成之前,全部計入主要工程合約費 用之內。截至一九七七年十二月卅一日止, 三千六百萬元已經計入工程合約費用之內, 未計入之餘額為六千一百萬元。

六、銀行結餘及現金

28

Deposits on call or at fixed maturities (6 months maximum)

通知存欵或定期存欸(不超過六個月)

Current account balances and cash in hand 往來賬戶結餘及現金

1977

1976

$000

$000

千元

千元

286

479,364

215

5,475

501

484,839