CONFIDENTIAL
Government credit agencies to follow suit.
9.
To sum up, on a project of this scale, and with terms of contract as novel as those developed by Hong Kong, it is impossible to be certain that the Hong Kong Government will
not get a nasty shock when they open the tender documents. But they and DTI are confident that they will receive serious bids, even if high ones. The judgement of how much of a premium to pay now in order to offload risk between now
and 1997 must be one for HKG to take. They have in any
case left themselves plenty of time to assess the bids
before announcing the results in March.
Lord Caithness will have an
opportunity to reinforce with the Governor the importance we
attach to early warning of problems when he is in Hong Kong
next week.
Redacted under FOI exemption 27(1)
In the circumclamen of the
водовими
PF Ricketts
Airport Agreement wilk China, and polimlach
the commitment the Hay Kay formement have undertake with regard to the size
of
the rearves ins
1997, t
opted ler lixed price bisk
data serious bidder.
2.
understandable that Hay Kay should have
and the evidens mempert that the will not
The evicheme that the change in Hay Kay's status in 1997 will not
wilbert the willingmen of
appea
slender. CHAAFT/4 but here.
bands
to lend to finds beyond 1997 is more
conciul demonstrative hat FCGJ cover could have a
CONFIDENTIAL
we
John Coles 2
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