MOBILE RADIO
CONFIDENTIAL
2 -
when introduced
5.
6.
7.
Transmission sites
Dedicated cables and ducts
Terminals
PACKET SWITCHED DATA SERVICES
FACSIMILE SERVICES
CENTRALISED ALARM AND MONITORING SERVICES
INTERNATIONAL SERVICES
(other than telephone .calls)
•
as assets involved are dual purposes vis-a-vis telephony and other it is anticipated that a usage charge will probably be levied on the subsidiary company. This usage charge would be in line with the "Audited Cost" results for overall
International operations.
DIRECTORY ADVERTISING
RELATED OFFICE EQUIPMENT, MOTOR VEHICLE ETC.
when introduced
1.1.83
when introduced
1.1.83
1.1.83
as and when
It is accepted that the foregoing list is not meant to be exhaustive but merely to identify the general asset types.
Any current assets/liabilities will be transferred at book
value.
If any assets are to be transferred during a Financial Year The assets then an independent audit will not be required. values to be transferred will be based on the externally audited values as contained in the most recently audited Balance Sheet with the agreed depreciation policies being applied for the intervening period between the Balance Sheet date and transfer date taking into account any additions, purchases, disposals and obsolescence. Note 1 this procedure will not apply to land and buildings.
As per
It is agreed that the payment for the assets to be transferred will be effected by the subsidiary company either by means of intercompany account and or external borrowings. It is further agreed that the interest earned by the parent company either on the intercompany account or on the cash received will be included in the accounts of
It is the parent company for Scheme of Control purposes. recommended that the interest charge on the intercompany account should be based on the interest rate paid to or earned by the Telephone Company on its average monthly Hong Kong dollar borrowings or placements.
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