TNAG-2483-FCO40-3614-UK-Hong-Kong-Scholarship-Scheme-donation-to-the-UK-Governme-1992 — Page 11

布政司署

教育統籌科

香港下亞厘畢道

OUR REF.: EMB CR 2/26/2041/66 Pt III

來函檔號 YOUR REF.:

KK

محمد

EDUCATION AND MANPOWER BRANCH

GOVERNMENT SECRETARIAT,

Lower Albert Road, Hong Kong.

25 August 1992

Mr Michael Long

Foreign & Commonwealth Office

Cultural Relations Department

London SW1A 2AH

United Kingdom

PCS 285/393/1

Dear Mr Long,

UK/HK Scholarships Scheme

33

Thank you for your letter dated 24 July 1992.

I am glad to learn that you are prepared to follow the option preferred by the Royal Hong Kong Jockey Club. As regards your concern over the financial position of the late Sir Shiu-kin Tang's Bequest, I attach for your reference an estimate of the income and expenditure of the Bequest based on an assumed inflation rate of 9% p.a. and an average interest rate of 10% p.a. on sterling deposits. According to the projection, the Bequest should be well able to meet the additional requirement of £100,000 p.a.

for the three years 1993/94, 1994/95 and 1995/96.

Regarding publicity of the new arrangement for the scheme, I have prepared, as previously agreed, a draft press release. A copy is enclosed and I should be grateful for your early clearance.

Yours sincerely

Ah !Mar

(John Chan)

Secretary for Education and Manpower

c.c. British Trade Commission in Hong Kong

(Attn: Mr James Smith-Laittan)

Secretary, UK/HK Scholarships Committee