CONFIDENTIAL
136615
MDHI 1020
TO PROCEED WITH THE PROJECT PROVIDED THAT THEY INDICATE THAT THEY HAVE NO OBJECTION. WE WOULD POINT OUT THAT THE PROJECT IS FULLY FUNDED BY THE HONG KONG GOVERNMENT WITHOUT BORROWING. NO FRANCHISES ARE INVOLVED. THE PROJECT WOULD BE COMPLETED BY THE END OF 1996. TO PROCEED WITH THE PROJECT NOW WOULD BE FULLY IN ACCORDANCE WITH THE MOU.
6.
WE WOULD MAKE THE POINT THAT ON COMPLETION, THE LAND CREATED WOULD RESULT IN SUBSTANTIAL PREMIUM REVENUE TO THE SAR
GOVERNMENT.
WE ARE FRANKLY NOT OPTIMISTIC ABOUT THEIR RESPONSE, BUT IT IS WORTH TRYING.
7. WE ESTIMATE THAT IT WOULD REQUIRE UP TO TWO WEEKS TO OBTAIN A CONSIDERED REPLY FROM THEM. IF WE DECIDE TO PROCEED, IT WILL BE NECESSARY TO NEGOTIATE WITH THE TENDERERS FOR AN EXTENSION OF THE CONTRACT VALIDITY PERIOD AT LEAST UP TO THE END OF JANUARY 1993. ENQUIRIES ARE ALREADY BEING MADE.
8. IF EXCO AGREES TO OUR APPROACHING THE CHINESE, WE SHALL LET YOU KNOW THE OUTCOME AND HOW WE PROPOSE TO PROCEED.
PATTEN
YYYY
MAIN
79
.HK AIRPORT COMMERCIAL
DISTRIBUTION
88
PLANNERS
HKD
PUSD
ECONOMIC ADVISERS
ERD
FED
JOINT DIRECTORATE
LEGAL ADVISERS//MS BROOKS
.AND MS BARRETT
RAD
PS
PS/MR GOODLAD
PS/PUS
MR CROWE
SIR J COLES
MR MILES
MR HUM
NEWS D
ADDITIONAL
9
PAGE 2 CONFIDENTIAL
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