TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 228

BANK OF CREDIT AND COMMERCE

HONG KONG LIMITED

NOTES TO THE ACCOUNTS (continued)

7. Reserves (continued)

The Bink

Balance at

beginning of

the year

Surplus arising on

revaluation of

properties within fixed assets

Prior Year Adjustment;

Loin loss provision

brought forward

(se (a) below)

Capital contribution

from ultimate holding company (se (b) below)

(Loss)/profit after

taxation and cividend

ss

1990

HK$000

1989

HK$000

Fetained General Revaluation Capital *arnings reserve

reserve

reserve Total: Total

(464,194) 103,000 60,724

468,000

167,530 127,198

(27,721)

(422,834)

(27,721)

27,721

27,721

1

39.609

(422,834)

723

Balance at the end

of the year

(514,749) 103,OCO

60,724

495,721 (255,304) 167,530

a) Curing 1989, a loan loss provision of HK$27.7 million was booked in the acccunts of the ultimate holding company. This loss is now recognised by the bank in these accourts.

b) The ultimate holding company has mace a capital contribution to enhance the bank's capital base. The capital contribution may be utilized in the futur: for the issue of fully said up bonus ordinary shares.

11

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