TNAG-1729-FCO40-2442-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 191

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These

the Corporation's success in obtaining very favourable

credit ratings from international rating agencies. ratings are important, both for the Corporation and for Hong Kong, in demonstrating the international financial community's confidence in the Corporation and its economic

well being as a principal public transport operator in

Hong Kong.

27

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Following the Executive Council's agreement to increase the Corporation's Authorised Share Capital by the

issue of shares with a nominal value of $5,000 million in

partly paid form, $1,500 million was paid in December 1985

and the second tranche of $1,000 million on 31 March 1988,

the

On the

in accordance with, Finance Committee's approval.

basis of current forecasts, both the Board of the Corporation and I hope that it will not be necessary to

request Finance Committee to approve payment of the

remaining $2,500 million. However, I must point out that

A

both

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by their very nature, financial forecasts are sometimes lock precision.

uncertai

Move

Movements in world financial markets and their

of these markets

continuing stability are a major factor in the

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le Corporation's financing profile and we must therefore

exercise prudence in reserving the position on the balance

of the uncalled equity.

بو

For the future, the Eastern Harbour Crossing

will extend the MTR system from Kwun Tong Station through

a new station in Lam Tin across the harbour to Quarry

Bay. This second harbour crossing is expected to open