TNAG-2126-FCO40-3036-Investment-in-Hong-Kong-1990 — Page 104

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104573

MDLOAN 9378

BRITISH OWNED, CONTROLLED OR MANAGED COMPANIES IN HONG KONG IN JANUARY 1989. WE HAVE BEEN CAUTIOUS ABOUT USING THIS FIGURE BECAUSE IT IS NOT CLEAR TO WHAT EXTENT BRITISH MANAGED FIRMS CAN BE DESCRIBED AS BRITISH. GRATEFUL FOR YOUR VIEWS.

5.

PARAGRAPH 10 OF THE SAME REVIEW STATES THAT BRITISH PORTFOLIO INVESTMENT IS THOUGHT TO ACCOUNT FOR 30-40 PER CENT OF THE TOTAL MARKET CAPITALISATION OF LISTED COMPANIES IN HONG KONG. THE FIGURE QUOTED BY HENRY KESWICK IS QUOTE UP TO 30 PER CENT UNQUOTE. GRATEFUL TO KNOW WHETHER THE FIGURE QUOTED IN THE 1989 REVIEW IS STILL OUR BEST ESTIMATE.

HURD

YYYY

DISTRIBUTION

25

ΜΑΙΝ

LIMITED

HKD

COMED

PS/MR MAUDE

23

ADDITIONAL

2

OT2, DTI VIC ST

MR BROADBENT, ECONOMIC ADVS

NNNN

MR GILLMORE

MR MCLAREN

MR CARRICK

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