TNAG-2480-FCO40-3610-Business-matters-in-Hong-Kong-Swire-Group-1992 — Page 19

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Thack you very

CONFIDENTIAL

миси

for this

and for attending the meeting. The implications of the last

sutence of pars 3 are

interesting.

6. J. Dovey' 28/8.

PS/Mr Goodlad

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MANIS 180/2

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FROM: R A J Bunten

Hong Kong Dept

DATE: 28 August 1992

cc: Sir J Coles

Mr Cox

Mr Hughes, AMD

Mr Morris, FED

MEETING WITH SIR ADRIAN SWIRE: 26 AUGUST 1992

1. Sir Adrian Swire, accompanied by Mr Duncan Bluck, a director

of J Swire and Sons, called on the minister on 26 August. The

main purpose of the call was to explain the importance of Swires

to Hong Kong and the UK. He handed over a note outlining the

sums invested and people employed by Swires.

2. Their major investment in Hong Kong was Cathay Pacific,

where there was great uncertainty, caused not only by their

not knowing the terms and conditions of the move to Chek Lap

Kok, but also by the ASA separation process. Cathay was in the

unique position of having ordered planes without having traffic

rights to use them. The minister said that the governor had put emphasis on resolving the ASA problem and had made some

suggestions which we were currently studying.

3. They were also concerned over Dragonair's lack of access to

China under the UK/PRC ASA. Dragonair was managed BY Swire's

who had a controlling stake of 51%, but this would change in

CONFIDENTIAL