ASSETS AND LIABILITIES
CONFIDENTIAL
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30.
As at 31 December 1991, the Fund's total assets
amounted to $236,121.4 million, an increase of $39,924.3 million
(20.35%) from 31 December 1990. The Fund's total liabilities at
31 December 1991 amounted to $137,469.5 million, an increase of
$24,286.9 million (21.46%) from 31 December 1990.
31.
Excluding the exchange and investment equalisation
reserves, total assets, at 31 December 1991, exceeded total
liabilities by $64,316.8 million. The corresponding figure for 31
December 1990 was $52,913.3 million. On this basis, assets as a
percentage of liabilities for 1991 and earlier years were as
follows:
Year
Assets as a percentage
of liabilities
1987
1988
1989
1990
1991
137.59
143.29
143.03
146.75
146.79
The exchange equalisation reserve was created with effect from 1
January 1983 and as at 31 December 1991 stood at $29,146.9 million.
The investment equalisation reserve was created with effect from 1
January 1985 and as at 31 December 1991 stood at $5,188.2 million.
The contingency reserve, which was created with effect from 31
December 1986, and had been used to meet the costs involved in
supporting two banks (The Ka Wah Bank Limited and The Wing On Bank
Limited) was
was no longer required and the balance of $378.1 million
was transferred to accumulated surplus at 31 December 1991.
CONFIDENTIAL
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