TNAG-2412-FCO40-3507-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-pres-1992 — Page 34

GOVERMENT HOUSE HUNG KUNG.

THU 17 Ser 82 11:09

MG.0b

-3-

the

MI

Yeung

Chinese

said that information handed over to

side of the Airport Committee

illustrated in more detail the kind of effect the

new proposals would have on the original financial

packages. This information showed that, in

preparing figures to illustrate the effect of the

new proposals, the cash flows have been adjusted:

Airport

a) by increasing the level of the AA's paid

up equity by $25ba;

b) by requiring payment to Government of air

traffic control charges and meteorological

from the opening of the airport,

charges

rather than being deferred till 2005;

On this basis:

a) the maximum debt of the Airport Authority

would be reduced to $5.9bn from $37bn;

b).. all debt could be repaid by 1999;

c)

be

savings in the total project cost could

possible because of the reduction in interest and financing charges. The order of

savings would be $5.5bn;

a) dividends could be paid to the SARG from

2000 instead of 2005.

for 4