TNAG-2483-FCO40-3614-UK-Hong-Kong-Scholarship-Scheme-donation-to-the-UK-Governme-1992 — Page 67

-MAR-1992 16:14

BRITISH TRADE COMM

FAX TRANSMISSION

RITISH TRADE COMMISSION IN HONG KONG

th Floor Bank of America Tower 12 Harcourt Road Hong Kong Mail Address GPO Box No 528 Hong Kong

Tolox HX 73031 Cable Address Uktrade Hong Kong Tolophons 5230176

.FAX NUMBER:

8452870

RECEIVER FAX: 71 210 6812

DATE:

18 March 1992

TO:

P.01

B2

PAGE 1 OF 1

FROM:

MJ Long, CRD, FCO

James Smith-Laittan

Dear Michael

UK/HK SCHOLARSHIP SCHEMES

Yes, we Thank you for your (very tactful) reminder of 17 March. did receive your faxes of 29 January and 5 March (but we have not received the one dated 9 March; if it is important that we should see it before you reply to John Chan's letter could you please send us another copy).

Although I have not yet been able to call on John Chan I have received a little more information on the Sir S K Tang bequest from his office. As you know, the donation was intended to be used for scholarships for Hong Kong students in the UK and for medical research. The accrued balance on 31 March 1992 is expected to be £1. 72 million. The total accrued interest will therefore be £720,000, two thirds of which may, as you know, be' used to fund scholarships. The capital of £1 million cannot I understand be used. That said, there ought to be more than enough accrued interest available to fund the nine scholarships for the next 5 years (what has not been taken into account as far as I can see is how much additional interest will accrue from the El million bequest over the next five year period).

I think you could now reply to John Chan along the lines proposed (it might in fact be helpful if you were to send an advance copy to him by fax since there will be a meeting of the UK/HK Scholarship Scheme Committee later this month. It would be helpful if we could discuss your response then).

Lors ever

James

J Smith-Laittan

Every effort is made to ensure that the information given herein is accurate, but no legal responsibility is accepted for any errors, omissions or misleading statements in that information cauwd by negligence or otherwise and no responsibility is accepted in regard to the standing of any firmą, companies or

indinduals mentioned.

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