TNAG-2145-FCO40-3064-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 68

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4. The calculations under the money of the day prices scenario are arrived at as follows

(a) The same step as described in para 3(a) above is

fall AwDĀ

(b)

As the 1991-92

prices,

new transfer into the SARG Land Fund for is assumed to be $4,820 million at 1990 this figure is adjusted to $5,300 million to give the money of the day price (assuming 10% inflation p.a.). The interest on $5,300 million works out to be $210 million.

(c)

The

closing balance

༢༢༢ Даа millian

203

1991-92 is, therefore,

(a)

(e)

(£)

(g)

1992-93 open with a money of the day price balance of ༢༢༢.:༣ཞུ million

million

Interest thereon ic $2.670

Transfer for the year 1992-93 at 1990 prices is assumed to be $4,827 million. At 1992-93 prices, this figure becomes $5,833 million (1.. $4,820

million Y 1 million

Interest thereon is 5230

Therefore, total balance at the end of 1992-93 at money of the day prices is $42,130 million.

The same process is repeated for all subsequent

Years.

should

obvious

5. It

be

from the above that the fundamental difference between the "1990 prices" scenario and the "money of the day prices" scenario is the

calculation

of the amount estimated to be transferred the SARG Land Fund for Aach of the VORT A

falinwino 1093-01

into

6.

I hope this is useful.

With best regards,

ما سلام

(Denise Yue)

for Secretary for the Treasury

70 39HA

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Де: Т.Т. Ар-т.т. йб

ун

3500 1009