TNAG-2561-FCO40-3744-Future-of-Hong-Kong-Special-Administrative-Region-Government-1992 — Page 11

RESTRICTED

STATEMENT OF NET ASSETS

as at 31 March of year

(HKD Million)

1992

1991

1990

1989 1988

1987

1986

Bank balances and deposits Securities

Interest receivable and other accounts (net)

Net assets

$10,915 $10,384 $ 8,202 $ 6,527 $3,367 $ 1,559 $ 424

22,491 13,361 10,902 5,042 2,205

800

314

626

312

208

58

24

$33,720 $24,371 $19,416 $11,777 $ 5,630 $2,383 $ 425

=

Of which:-

Hong Kong dollar net assets Foreign currency net assets

$11,185 $7,259 $ 6,445 $ 4,487 $ 1,169

22,535 17,112 12,971

7,290

4,461

$ 1,056 1,327

$ 425

$33,720 $24,371 $19,416 $11,777 $5,630 $2,383

$ 425

}

Representing: -

Capital account

$27,817 $20,341 $17,392

$10,945

Accumulated surpluses

5,903 4,030 2,024

$10,945 832

$5,235 395

$2,295 $ 424

88

I

Notes

$33,720 $24,371 $19,416 $11,777 $5,630 $2,383 $ 425

1.

Securities

Securities comprise listed shares, bonds, notes, bills and certificates of deposit which are stated at the lower of cost and market value on a portfolio basis; and unlisted shares which are stated at cost less any provision for permanent diminution in value.

2.

Other Accounts (Net)

3.

Other accounts (net) comprise mainly net outstanding settlements on the sales and purchases of securitics and other receivables less accruals at the year end.

Translation of Foreign Currencies

Monetary assets and liabilities denominated in foreign currencies are translated into Hong Kong dollars at the market rates of exchange ruling at the year end date. Other items denominated in foreign currencies are translated into Hong Kong dollars at the bistorical exchange rates.

4.

Capital Account

Capital account represents the Land Fund's share of net land premium income and interest income receivable from the British Hong Kong Government and is accounted for on a receipt basis.

3