་
MIGHTYCITY COMPANY LIMITED
1007-1011 Realty Building, 71 Des Voeux Road, Central, Hong Kong. Telephone: 5-214393/5 5-240850
Telex: 75771 EPIRE
Hong Kong & Shanghai
Banking Corporation,
Head Office,
Queen's Road Central,
Hong Kong.
For the attention of Mr. M.G.R. Sandberg
22 May 1981
W/163
Dear Mr. Sandberg,
Tin Shui Wai New Town Development Proposal
Since our short discussion on the present status of our Development we have set out in the attached aide memoire the sequence of events which has led up to the present position. There is a deep sense of frustration in our organisation due to the lack of decision and we feel our proposal has become lost in the Halls of Government.
We are not sure whether this situation arises from a change of Government Policy in endeavouring to solve the serious issues of inadequate land and housing availability or from the current Government Reorganisation e.g. change of Financial Secretary or the restructuring of the Environment Secretariat into Lands, Transport etc.).
Whatever the reason may be it has resulted in an extra- ordinary delay by Government in making a decision on what we had been led to believe was an urgent situation.
We are now not quite sure where we stand. Our considerable investment in the Tin Shui Wai land and the extensive studies and Master Plan is currently a significant financial liability and we are beginning to question whether we should continue with it.
If Government does however decide to approve our proposal we will require your advice and financial support as we have done in similar situations in the past.
Encl.
Yours sincerely,
Yu Tun-Hwa Chairman
Registered Office: 1/F, Causeway Centre, Gloucester Road, Hong Kong.
No comments yet.
Private notes are available after approval.