CONFIDENTIAL
111735
MOLIAN 4296
CONFIDENTIAL
FM HONG KONG
TO PRIORITY FCO
TELNO 2082
OF 100446Z AUGUST 92
HKA 233/1
INFO ROUTINE PEKING, UKREP JLG HONG KONG
475
TOP COPY
Q DIST?
YOUR TELNO 1144 PRIVATE SECTOR PENSION OPTIONS
-
1 WE HAVE HAD PRELIMINARY DISCUSSIONS WITH THE HONG KONG BANK. THEIR INITIAL ATTITUDE WAS THAT THIS IS A DIFFICULT AREA BUT IT
MAY STILL BE POSSIBLE TO DEVISE A LIMITED SCHEME INVOLVING A
CONSORTIUM OF BANK PROVIDING LOANS AGAINST THE COMMUTABLE ELEMENT
OF PENSIONS. THE BANK HOWEVER NEEDS SOME TIME TO LOOK INTO THE
MATTER IN GREATER DETAIL.
2. ON PARA 5 OF TUR, OUR DISCUSSION SO FAR HAS CENTRED ON THE POSSIBILITY OF THE BORROWER BEARING THE COSTS OF BORROWING AND OF
POLITICAL RISK INSURANCE. WE WILL SEE HOW ATTRACTIVE OR UNATTRACTIVE THIS IS WHEN THE BANK HAS PROVIDED SOME EXAMPLES.
3. WE WILL REVERT WHEN WE HAVE HEARD FURTHER FROM THE BANK.
PATTEN
YYYY
MAIN
39
DISTRIBUTION
39
.HER MAJESTY'S OVERSEAS
.CIVIL SERVICE
HKD
RESTRICTED
LEGAL ADVISERS//MISS BROOKS
FED
NEWS D
RAD//MR WYE
RMD
OVERSEA PENSIONS/ODA//MR FISH
PS
PS/MR GOODLAD
PS/PUS
SIR J COLES
MR HUM
MR KERBY
NNNN
PAGE
1
CONFIDENTIAL
493
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