1974-1975 — Page 22

NOTES ON THE BALANCE SHEET

1.

2.

Rolling stock includes the following valuation of 40 new railway passenger coaches acquired during the year and introduced into the service on 4th November, 1974 :-

(1) Actual payments during the year totalling $17,394,123.22;

(2) Outstanding commitment of Yen 54,833,287.35 on the contract

price converted into sterling at the rate of exchange of Yen 695.9238 to £1;

(3) Outstanding Crown Agents charges of £736.79;

(4) Contingent liabilities of £3200 for the cost of modifications

still under negotiation and associated Crown Agents charges estimated at £30.72;

(5) All sums quoted in £ sterling have been converted into H.K.$

at the rate of exchange of HK$11.695 to £1.

The outstanding commitment and contingent liability on the 40 new railway passenger coaches are shown under Current Liabilities.